A co-creation model is a business model where the users of the product are integrated into the development of the product from the early stages of the conception. Such a model allows the company to be at the same time aware of its consumer’s needs, and innovative regarding its competitors. Local Motor’s (LM) ideal co-creation… Continue reading Co-creation business model explained using an example of successful implementation at Local Motors
Strategic Interpersonal Relationships can help drive your business to new levels. Developing strong interpersonal relationships is an increasingly efficient tactic to be a successful business. PEOPLE part of the 7 P’s of the marketing mix is one of the most important aspects of the marketing mix, it not only increases brand awareness and recognition but… Continue reading HOW “PEOPLE” CAN HELP IN SUCCESSFULLY IMPLEMENTING A MARKETING STRATEGY PLAN?
(I) THREAT OF NEW ENTRANTS The market attractiveness in the retail sporting goods industry is high which makes new entrants a viable competitive force. The cost of entry is high especially if the new company intends to compete with a chain store the capital required to enter the retail industry is high due to costs… Continue reading Porters 5 Force Analysis of Retail Sporting Goods Industry and it’s Strategic Implications