Can you define exactly what makes up a business strategy? Perhaps the most important factor in successful marketing is the “corporate vision.” Surprisingly, it is largely neglected by marketing textbooks; although not by the popular exponents of corporate strategy – indeed, it was perhaps the main theme of the book by Peters and Waterman, in the form of their “Superordinate Goals.” “In Search of Excellence” said: “Nothing drives progress like the imagination.
That all changed with the Internet, and consumers now get the same free services that they once received from travel agents anytime, anyplace, at the swipe of a finger—not to mention recommendations for hotels and destinations that bubble up from the crowd” rather than experts.
Looking inward: strategic analysis of the characteristic of your company to identify your distinctive capabilities and surround them with a collection of reproducible capabilities, or complementary assets, which enable your company to sell its distinctive capabilities in the market it operates.
It will help characterize the competitive environment in the industry and whether or not that environment is favorable or unfavorable to the companies within it. This step is critical in the strategy development process as it allows a company to identify the key success factors within its industry.
There’s no need for long-winded strategy explanations, and the pitch defines the problem worth solving and your offering that solves the problem, plus the market, competitive positioning, and key points for product and marketing , plus your identity.