4 Steps to Uncover Strategic Business Insights and Opportunities.

There are a few logic steps to undertake when you start to analyze your business and your market. If you skip these steps it´s easy that you end up with the wrong conclusions and by doing so you might up taking the wrong strategic decisions for your business.

  1. Review Category Results.
    A Category review is a good starting point to understand the fundamental tactical drivers for the category such as promotions, distribution, assortment, and price.
  2. Understand Core Business Drivers.
    Mirror the Category review with a business review. How are you performing versus the category? How are you performing versus competition? These are some of the questions you need to investigate.
  3. Review Other Factors.
    Don´t overlook to understand consumer and shopper behavior and how they are influencing your category and business metrics. For example, if a category is in decline it can have to do with fewer shoppers buying from the category or they buy more seldom.
  4. SWOT Analysis.
    Once your analysis is done it´s time to determine the strengths, weaknesses, opportunities, and threats to the category and to your business. Use your findings from your analysis. Have in mind that it´s still just observations in a swot. Don´t forget to answer the question “so what” and the “why” to identify the insights to act upon in your strategic plan going forward.

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