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In general terms, "strategy" refers to the choices that you have made that are irreversible (getting married, making children). When you invest a lot of your money is probably strategic. It's irreversible and you hope for a return.
In terms of business, the strategy is than set of irreversible choices you will make to achieve your strategic objectives. You can decide to buy a new machine to produce more, hire new sales, give a higher marketing budget. If those activities are strategic will depend on your business model. Selling or buying activities, developing new products are said to be strategic as they involve resources in an irreversible way. In terms of business strategy, important investments you make in your value chain are probably strategic. In terms of corporate strategy it's more about getting the most of your business units while mitigating corporate risks.
In terms of pricing, it's a different story. When you set a price and communicate it to the market you send a message. When this message is gone, you can't change it: it's nearly irreversible.Your pricing strategy will determine your anchor for negotiation. There are different pricing strategies. You could have a flooding pricing strategy where you want to be the cheapest to gain market share in an aggressive way (hard discount). Another strategy I have seen is to set prices quiet high in order to reduce progressively until it gets acceptable for the customer. By doing so you optimize your margins.
What else can I help you with?
Is Facebook a functional level strategy company?
What is the functional strategy of the facebook ( Marketing or financial strategy ) i don't know if the functional strategy mean the marketing or financial any helps plz
Differentiate between product strategy and promotional strategy?
They can mean the same thing. Or Product Strategy is focused on the product and what objectives its meant to achieve for the user/consumer Promotional Strategy is focused on correctly Branding and promoting the product to the Target Markets.
What is production strategy?
What is production strategy?
Is stability really a strategy or just a term for no strategy?
When one talks about strategy, it implies growth. Stability is necessary for growth, but without a growth strategy can lead to stagnation.
What is intended strategy?
An intended strategy is planned and deliberate. It is the set of intentional acts that is contemplated and planned to accomplish a goal. An intended strategy is also sometimes called a deliberate strategy.
What is aligning compensation strategy with HR strategy and business strategy?
aligning compensation strategy with hr strategy and business strategy would simply mean that the designing of a company's compensation strategy should be in such a way that it should support its HR as well as business strategy.
Is Facebook a functional level strategy company?
What is the functional strategy of the facebook ( Marketing or financial strategy ) i don't know if the functional strategy mean the marketing or financial any helps plz
What do you mean by rip off strategy?
It's a strategy where products are sold with low quality and a high price.
How do you spell stragie?
Perhaps you mean 'strategy', also called a 'plan of action'.
What is administrative strategy in project management?
Since there is no such thing as "administrative strategy" in project management, then I assume you mean just company strategy and Project Management. This essentially means that the projects have to align with the strategy of the company.
What does SMART strategies mean for reading program?
Strategy
What does Describe the nature of your activity mean?
improve our strategy
What does math term jump strategy mean?
kl
How do you create strategy on game maker?
If you mean a strategy game, see the multiutude of video tutorials floating around on the internet. If you mean a thinking opponent, see the many AI tutorials floating around on the internet. And if you mean situationg in which strategy is necessary to beat the level or game, trial and error.
What does Make a ten strategy in math mean?
94-56=
Will Blizzard make Warcraft 4 but I mean strategy game?
No
Differentiate between product strategy and promotional strategy?
They can mean the same thing. Or Product Strategy is focused on the product and what objectives its meant to achieve for the user/consumer Promotional Strategy is focused on correctly Branding and promoting the product to the Target Markets.
