Right Strategy, the key to survive: Trout
by Ramani Kangaraarachchi
Good strategy is how you survive in a competitive world. Many big
brands ignored the reality of the marketplace and learned some painful
lessons.
They are in big trouble because they did not have the right strategy,
"said renowned marketing strategist Jack Trout addressing a large
gathering of private sector executives at Water's Edge, Battaramulla
last week.
Trout, the President of Trout and Partners in USA was in Sri Lanka to
lecture on "Marketing strategies to swell the bottom line" organised by
Sensei Lanka . The event was a summary of Jack Trout's best teachings
from ten publications and demonstrated that the key to success is all
about having the right strategy.
"The trick to survive is simply knowing where you are going. Because
no one can follow you if you don't know where you are headed "he said,
Many big company CEOs are barely in control of their companies' fate,
much less their own. There is a growing legion of competitors coming
from every corner of the globe. Technologies are ever changing and the
pace of change is faster.
Therefore it is increasingly difficult for CEO's to digest the flood
of information out there and make the right choices, he said.
He pointed out that it is probably better to learn from mistakes
rather than learning only from success, so it could be more productive
to study more downs than ups.
He summarised that strategy is all about perceptions, competition,
specialisation, simplicity ,leadership, being different, and reality. |