In this period of rapid change economically and business wise around the globe, business strategy has started to move away from basic ‘strategic planning’ to more of ‘strategic thinking’ in order to survive the competitive global environment.
Today, both managers and individual contributors alike need to have a broad perspective and an awareness of the cultural trends and business developments shaping the world.
Manoj Agarwal (Co-Founder at Xoxoday) feels “Strategic thinking is the bridge that links where you are at present to where you want to be in future.”
What is Strategic Thinking
Strategic thinking is a process that defines the manner in which people think about, assess, view, and create the future for themselves and others. In short, The ability to come up with effective plans in line with an organization's objectives within a particular economic situation.
You don’t need a new title, more control, or bigger budgets to be more strategic; you just need to be more deliberate in your thoughts and actions. By investing time and energy to reflect on the situations and decisions that face you; by finding ways to connect ideas and people that you had never linked before; and by having the courage to make choices about what you will do and what you won’t, you will greatly increase your strategic contribution.
Advertisements and brand promotion are the means of giving a launch pad to the product, but if you revert to it every fortnight, it tells that the product is stagnated. The companies strive to achieve a point in time wherein the product runs on its own without any need for further promotional activities.
In order to achieve this upper hand, the company must ensure that the product witnesses high consumer involvement because unless the consumers themselves start asking for the product, the company can’t expect it to be a success in the long run. There are a lot of useful strategies that attempts to boost the level of consumer involvement:
Advertising sensory appeal to the consumers’ hedonic needs
This technique is designed to create sensory branding in order to captivate more consumers’ attention, this includes touch, sound, taste.
Build a bond with consumers
Brand loyalty and rewards programs are designed to encourage brand attachment and keep customers actively coming back. It intends to motivate customers to use their products or services regularly. As a result, deep connections between the brand and consumers will be h3ly created.
Use prominent stimuli, such as loud music and fast action, to capture attention
Message-response involvement and prominent stimuli advertisement technique can increase consumers’ attention and make them become more involved with the brand through marketing communication such as media platforms.
All these strategies need to be meticulously planned to fulfill the exact motto behind their implementation. A sustainable successful future requires much more, no matter how big or small your business is, a major requirement is strategic thinking.
You can always visit our Employee Rewards & Recognition platform XOXOEnterprise to give your employee a token of appreciation for their work.