This Business News Story Was Uncovered By Us From: http://www.youngupstarts.com/2019/05/13/define-a-brand-strategy-to-build-your-business-value/
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by Lindsay Pedersen, author of “Forging An Ironclad Brand: A Leader’s Guide“
Strategy has become a word so overused that it’s borderline comical. Remember the SNL skit that satirized George W Bush, when asked to summarize the best argument for his campaign, and he responded, “strategery”?
Notwithstanding the mocking mispronunciation of “strategery,” strategy is a word that is easy to say and harder to do.
At its most basic, strategy is the encapsulation of how one will achieve a given aim. It is the point of view on your competitive advantage in a given scenario. It is an articulation of how you will win. When it’s military strategy, it might be “how will we win when we try to establish a beachhead in France?” When it’s business strategy, it might be “how will we win in this category we are trying to disrupt?” When it’s brand strategy, it might be “how will we win at capturing the hearts and minds of our target customer?”
A characteristic of strategy that works is asymmetry. Whether it is military strategy, business strategy, brand strategy, evolutionary strategy, or political strategy, effective strategy identifies an asymmetric advantage and then uses that advantage to achieve the goal.
In his book “Good to Great“, Jim Collins shares how we can think of competitive advantage through a Greek parable about foxes and hedgehogs. Collins believes that companies, like characters in the parable, are either foxes or hedgehogs. The fox companies develop numerous and complex and cunning strategies to achieve their many goals. Foxes seem to know a lot about a lot. Hedgehogs, in contrast, know about only one thing: rolling into a ball. But knowing how to roll into a ball is all the hedgehog needs to know. … Read More
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