Post Pandemics Strategy
Updated: Jul 12
What will it take to lead the competition?
As of June, 2021, the world’s economy is only half-way back to normalcy according to The Economist normalcy index. U.S. and China are at 73%. The world is at 66%. And now the new delta Covid variant is spreading globally.
Marquis Advisory Group is tracking this weekly and will provide you with the
updates and provide three methods to create your own success. The business economic infrastructure is continuously changing. Those who led it before won and made deep changes in almost everything.
Here is what is occurring constantly.
New competitors see unaddressed opportunities in every sector.
Customers and competitors have unprecedented values and expectations as they become new business owners, influential management of major organizations, consumers.
Competitors develop new services, products, and business models.
Business is still reeling from the last covid crush. Now the new delta virus version brings new challenges and opportunities to improve your business.
Investors are changing some of their traditional measures of valuation.
In the weeks ahead we are going to address these three topics:
Advancing Competitive Advantage by Analyzing
Creating Competitive Strategies
The technique for analyzing competitors and developing your own new strategy is a step-by-step process.
It works if you do your homework.
Prior definitions of competitors and competitive products have had to be
changed. If you were a taxi company and along comes Uber, that is not another taxi company, but it is a competitor. If you were a bookstore, and along comes Amazon books, that is not another bookstore, but it is a competitor. If you were a daily newspaper publisher and along comes radio, television, digital computers and digitized news information almost instantly delivered to millions. If you were a coffee shop and along comes Starbucks, it is more than a coffee shop because it brings magnetic customer atmosphere, services and products to the scene.
What are the Differences in each of these examples?
Unique, useful products and services.
Increased customer ease of use.
Consistent customer satisfaction.
Product benefits justify cost
Competition and Business Value
Historically, competition drives down the rate of return on invested capital to the “competitive rate of return,” or what becomes the free market return, where margins and therefore earnings are minimized. Competitive measures include entry barriers such as experience and scale of the firm; capital requirements; product differentiation; access to distribution channels and customer loyalty.
But we have seen these entry barriers reduced in effectiveness. However, the impact on business value remains the same. Marquis will address how new values are established in an upcoming BLOG.
Analyzing Competitor Strategies
Analysis of competitor’s new products compared to yours.
Analysis of how to offset product trend setting by competitors.
Customer research on wants and needs now and in 3-5 years.
Determine if competitor’s logistic efficiency and reliability makes a difference to customers.
Analysis of how important brand recognition is to customer.
Determine values of business model change.