Brand is a recognised source of competitive advantage for firms of all sizes (Young 2005). By looking at what is at the centre of a firm’s activity, management is actually setting the scene for what the company is about. ‘Core competency’ is often so obvious, that people overlook it as a given thing. In our consultancy experience we often find SME’s that offer a service or product which is perceived as the most important task of the firm; money, expertise and resources are dedicated to it.
However, somehow in the midst of ‘doing’, firms often can’t define or emphasise their competency in such ways that it would give them competitive advantage in the market. To improve the competitive advantage, we suggest to clients to look into three areas of strategic planning. The firms’ core competencies need to be identified, Market trends to be scouted for and competitor intelligence need to gathered to arrive at meaningful strategic planning outcomes.
This is where we ask- who is doing it? In smaller firms, marketing is often understaffed or not at all present. Increasing organisational capability is becoming vital if any firm wants to grow or expand. How would you know that your invested dollars are giving you return? The role of marketing in your organisation needs to be seen clearly. We encounter very different types of marketing personnel in organisations, not always with the set of skills required to identify competitive advantage for the company. In our upcoming posts, we will discuss some of the different ‘marketer types’ we think of.
Brand on the Balance sheet
However, somehow in the midst of ‘doing’, firms often can’t define or emphasise their competency in such ways that it would give them competitive advantage in the market. To improve the competitive advantage, we suggest to clients to look into three areas of strategic planning. The firms’ core competencies need to be identified, Market trends to be scouted for and competitor intelligence need to gathered to arrive at meaningful strategic planning outcomes.
This is where we ask- who is doing it? In smaller firms, marketing is often understaffed or not at all present. Increasing organisational capability is becoming vital if any firm wants to grow or expand. How would you know that your invested dollars are giving you return? The role of marketing in your organisation needs to be seen clearly. We encounter very different types of marketing personnel in organisations, not always with the set of skills required to identify competitive advantage for the company. In our upcoming posts, we will discuss some of the different ‘marketer types’ we think of.