The Business Tools Store Blog

IntroductionIn today’s competitive business environment, leaders need more than intuition to make strategic decisions. One of the most enduring tools for assessing market competition is Porter’s Five Forces, developed by Professor Michael Porter of Harvard Business School. It provides a structured way to analyze the external forces shaping profitability in an industry. Porter identified Five Forces that give rise to Market Competition. These Five Forces are: Threat of New Entrants & …

IntroductionHow do customers see your brand compared to competitors? Often, the difference between success and failure lies in how you are perceived in the market. Market Mapping (also called Perceptual Mapping) is a visual tool that shows where your business stands in customers’ minds. Perceptual maps visually show you how existing products/services are positioned in the market, i.e. in the minds of consumers, in relation to product attributes, e.g. features, price, value, etc. and the a …

Blue Ocean Strategy is a powerful strategic marketing approach that encourages businesses to move away from highly competitive, saturated markets—what are called red oceans—and instead focus on creating and capturing new demand in largely uncontested markets. The goal? Make the competition irrelevant. This stands in sharp contrast to a red ocean strategy, where businesses fight to outperform rivals in crowded markets. These environments are often characterized by cut-throat competiti …

If growth is on your agenda, the Ansoff Matrix is a proven tool to explore your options. Developed by Igor Ansoff, this 2x2 framework helps you decide how to expand — by changing your products, your markets, or both.The Four Growth Strategies:1. Market Penetration – Sell more of your existing products to current customers2. Market Development – Find new customers or enter new markets3. Product Development – Introduce new products to existing customers4. Diversification &n …

When it comes to strategic planning, SWOT analysis is a familiar tool — but the powerfull lesser-known counterpart, TOWS, is not as widely used. While both frameworks use the same core elements (Strengths, Weaknesses, Opportunities, and Threats), their application is quite different. SWOT is primarily descriptive — it helps you understand your current situation by listing internal and external factors. TOWS, on the other hand, is action-oriented — it takes SWOT inputs and allo …