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The business model canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
Stevenson et al. (2024) mention MON as one of the core tools within the lean start-up framework, alongside others like the Business Model Canvas and iterative customer development procedures. These tools facilitate entrepreneurial progress by helping innovators test and explore market opportunities.
Positioning is the final stage in the 'STP' process and focuses on how the customer ultimately views your product or service in comparison to your competitors and is important in gaining a competitive advantage in the market. [12] Therefore, customer perceptions have a huge impact on the brands positioning in the market.
Competitive analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. [1] This analysis provides both an offensive and defensive strategic context to identify opportunities and threats.
Given the trend of globalization of high-tech product markets, the term "chase, catch, run, jump, touch" can be used to describe the competitive pressures of the industry. . Competitive enterprises continue to catch up, ready to catch up with the leaders, and those leading companies continue to run forward in order to stay ahead, and finding methods to jump over the barrie
The breadth of its targeting refers to the competitive scope of the business. Porter defined two types of competitive advantage: lower cost or differentiation relative to its rivals. Achieving competitive advantage results from a firm's ability to cope with the five forces better than its rivals.
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