Step 1 Strategic Assessment
Strategic Assessment Focuses on Understanding
Brands compete for revenue, market share, and profitability in an increasingly dynamic environment. In order to understand how to approach any form of marketing, brands must first choose which of these core business objectives to focus on. The Strategic Assessment focuses on understanding how brands fit into the market, core positioning, and defining the strategy for entering the market.
The assessment seeks to answer for all stakeholders:
- What are the key points of differentiation for the brand?
- What are points of parity?
- What is the brand positioning in the market?
- What is the best approach to strategically and tactically address the market?
- How will advertising take advantage of this position?
- Can current customers’ interactions deepen to increase profitability?
- Can competitors’ customers be targeted to increase market share?
- Are there new opportunities to expand the market?