Kiran Kapur is joined by MD of Strategy Execution, Andrew MacLennon, who talks about the ‘glue’ that connects strategic objectives. He explains how objectives and operations are different to see but that the job is to bring them both together.
Change for a company can be hard and so can making the change happen in the first place. Andrew suggests that some companies may be fluent in their planning but it is at the strategic level that they struggle: Is your organisation doing the right thing?
He introduces the concept of the ‘strategic vacuum’ (when companies wait for the changes to come to them) and advises that although it is very important to concentrate on what you are currently doing, it is always essential to adapt to the changing times. He shares some examples with Kiran of well-known brands that took risky gambles and the effect this would have on their customers.
Sales Promotions: the good and the bad
Cate Elder talks about the different types of sales promotion; including competitions, money off and loyalty rewards. She advises that sometimes it is not all about offers and rewards though, but instead adding something extra to the purchase and talks about well-known brand, Andrex’s way of doing this.
Have you ever noticed that Apple doesn’t execute any sales promotions for its products?
Remember when Cadbury offered free sports equipment by collecting coupons from its chocolate bars and the repercussions it had on the brand? Cate finishes with tips towards ethical and age restriction issues, the pitfalls of sales promotion and ensuring your promotions won’t cost you more than they will earn you.