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What is the BCG model?

The Bcg model does not perceive each factor separately. It focuses on the relationships between elements and their basic, selected categories. The BCG matrix has many advantages and there is a reason this method has been on the market for so many years. The most important benefits are suggestibility, readability and simplicity. After applying this method, we can easily change its strategy, and thus improve its financial situation in the long run. In addition, it allows you to indicate the competitive position and define the company's market situation, opportunities and strategic threats.

There are different approaches to investing in stars depending on our goal

We can choose a defensive method when we want to maintain our current market position. On the other hand, we can apply an aggressive strategy, focusing on increasing the company's market share. However, there are universal rules that apply regardless of the chosen strategy. Each company should have in its portfolio products in which money can be invested - question marks and losses. To invest money in these products, we need wallet components that generate large amounts of cash - Cash Cows. Moreover, each product should have income potential in the future. Otherwise it is not beneficial and should be removed from the wallet.

https://conquestconsulting.eu/what-is-the-bcg-matrix/

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How to create a sales funnel?

Also known as a marketing or conversion funnel, it is a long-term marketing process that starts with getting to know a given brand / company / product to the final stage of sales. The name is closely related to the structure of the funnel, narrowing down the group of potential customers at each stage so that at the very end they are only willing and ready to buy.

How to build relationships with customers?

Funnels are a form of building a relationship with a customer used in online sales as well as in traditional and B2B sales. The overriding value of the funnel is the freedom to define the length of its sales cycle, focus on achieving previously assumed business goals and constant control of the activities carried out. Therefore, we will answer the question of how to create a sales funnel. The sales funnel process is identified with the AIDA model - Attention, Interest, Desire, Action. After analyzing the structure of the sales funnel, it is worth asking when it will start to generate some profits. Nothing happens immediately. The profitability ratio determines the profitability of the business.

https://conquestconsulting.eu/what-is-a-sales-funnel-and-how-to-create-it/

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Do you know what dumping definition marketing means?

It is an economic term used in the context of international trade to describe a method of eliminating competition or, as others would say, unfair business strategy. To answer this question, you need to understand what this tactic is about, how it works, and understand what its implications are.

Dumping is a pricing policy which consists of selling goods in the importing country at a price lower than that sold on the domestic market

Producers using this method may even sell their products at a price below the marginal cost of production. The specifics of this strategy differ according to the different types of dumping: occasional, predatory or permanent. Although the World Trade Organization (WTO) does not specify whether this method is a fair competitive practice, most countries are reluctant to do so. They enter into trade agreements that prohibit this type of price discrimination and impose restrictions to make this tactic unprofitable.

https://conquestconsulting.eu/dumping-a-method-of-eliminating-competition/

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Investments on Polish market is your chance for success!

Poland is the largest economy in Central and Eastern Europe and the sixth largest in the entire European Union. Situated in the heart of the old continent, its economic potential is, however, underestimated, and the country as a whole is sometimes perceived only through the prism of the neighboring, highly developed Germany. But the Polish market is more and more open to foreign investors - tax breaks, clear legal regulations and low employment costs turn out to be useful, which is why it is an attractive country for foreign entities planning internationalization and running their own business in Poland.

Find out why it is worth investing in the Polish market!

Poland's attractiveness for foreign investors planning internationalization is low employment costs, location, helpful institutions and a large market. When entering the Polish market, it is good to get to know its realities and understand the mechanisms of operation of individual industries in Poland as well as all legal requirements. Starting a business in Poland is a chance for your success!

https://conquestconsulting.eu/polish-market/

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Even if you don't know what a personal brand really means, it's almost certain you already have it

In fact, this is what shows up on Google when you search for your name, what you share on social media, posts / comments where your friends tag you, pages you like and people you follow. Personal branding has always been part of society, even if it hasn't been named yet. For example, old populations such as the Greeks and Romans were used to promote their skills in daily life through books, public speeches, and portraits.

In modern times, it has been defined what a brand's persona is

However, for the first time a hypothetical definition of "personal branding" was mentioned in 1937 in Napoleon Hill's renowned book Think and Grow Rich, which stated that "it should be encouraging to know that virtually all great fortunes began as compensation for personal services or from selling ideas ”(Gulati, 2009). Many articles and books have then been written on the subject and a clearer definition has been given: “is marketing that is applied to a person by creating content that enhances their reputation.

https://conquestconsulting.eu/personal-branding-applying-marketing-to-yourself/

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Find out what is market research

You already know that the right information can be very valuable, now you will learn why you should learn more about market and competition research. Take away the memories of your youth for a moment. You are the best athlete, one day you decide to represent the school at competitions without even asking about the discipline, because you will win anyway. However, when you get off the school bus, you quickly realize that you don't know how to play tennis, you don't know who you are going to play with, much less which end of the racket to catch. This short story shows how a situation can end if you decide to operate in a market that you don't have enough information about. Why is market research important? Earlier, well-planned market and competition research can reduce the risk of failure and identify the best solutions in a given situation.

What questions should a competition investigation answer?

According to the American economist Philip Kohler, the analysis should be considered in terms of four aspects of competition, i.e .: brand (all enterprises producing similar products at a similar price), industry (all enterprises producing similar products at different prices), product form (all enterprises producing similar products), generally (all companies target their product to a similar group of customers). Then, on the basis of the collected data, the strategy of other companies present on the market is analyzed, their goals, strengths and weaknesses are analyzed in order to verify the previously adopted assumptions regarding competition and prepare an action plan that will increase the chance of success.

https://conquestconsulting.eu/market-research/

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Do you already know tows analysis example?

An interesting example of a TOWS analysis is the Volkswagen fundamental analysis performed in the 1970s, when VW experienced great difficulties and managed to achieve an excellent market position in the late 1970s using the TOWS analysis. VW has developed four types of strategies that combine external factors with internal strengths and weaknesses.

The first was SO - power with capabilities

With visible strengths in strong engineering, strong sales and efficient production, they developed a new product line that met the growing market demand for more luxurious cars with multiple options. Then comes the WT strategy (weaknesses and threats) - they realized the heavy competition from the Japanese and the US as a significant threat and strong dependence on a single VW product. Combining them, they decided to limit competition by developing a new, flexible line of products. As for the WO strategy, they are building a factory in the USA to respond to attractive offers to build an assembly plant in the USA (bargain) and rising costs in Germany (weakness).

https://conquestconsulting.eu/what-is-market-analysis-and-how-to-do-it-properly/

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Do you know how to do a market analysis?

Thanks to Conquest Consulting, you will learn the answer to this and many other questions regarding market analysis. Market analysis is carried out using specific tools. One of them is the concept of Porter's 5 Strengths. This method is used to study the microenvironment. It allows you to get to know the structure of the sector in which the entrepreneur intends to enter and verify its potential. The model developed by Michael E.

Portera aims to assess the strength of the influence of buyers and suppliers on the company, the intensity of competitive struggle in the industry and the threat of the emergence of new manufacturers or substitutes

It will be easier to understand the mechanism of this market analysis tool when we provide a sample study for a fictitious company. Let's assume that we want to establish a restaurant in Warsaw offering traditional Polish cuisine. There are not many eateries in the area of ​​our restaurant offering at least similar products, but there are many suppliers who are struggling intensively with the competition. The enormous number of procurement companies reduces their bargaining power, and the small number of catering establishments means that customers do not have much choice, which reduces their ability to influence us and the strength of competition in the industry. Due to the attractiveness of the area, the possibility of new entrances and replacements (cafes, fast food outlets) is a big risk.

https://conquestconsulting.eu/use-business-tools-and-do-market-analysis-to-develop-your-business/

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Find the answer to how to find a partner in business

Have you ever wondered how to find a business partner or investor and is it worth it? Finding an investor can be crucial to your business as it can help you grow and gain new opportunities that would not be possible without external financing. Whether you think finding an investor for your business may seem impossible, or you just wondered how to find a business partner or investor.

Be sure to read the ideas presented by Conquestconsulting experts

The first thing you should do when thinking about finding a business partner is ask family and friends for help. This is the most common way to make connections as they are people you can trust. If you've ever heard of Apple, you know the story of their founders Steve Jobs and Steve Wozniak, they were friends too! The main disadvantage of having a friend or family member as your partner is that your bonds can deteriorate in the event of potential business setbacks.

https://conquestconsulting.eu/how-to-find-the-best-business-partner-or-investor/

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Thanks to us, you will use the potential of your data in a cost optimization plan

The business world is governed by access to information, both in the company's environment and its internal structure and processes. In order to make rational decisions and develop an effective strategy of operation, it is necessary to understand the way the company operates, which, contrary to appearances, is not so obvious. Often, companies rely only superficially on the collected data and information. Managing the company and making business decisions based on incomplete understanding of the specifics of a given company in terms of the processes taking place in it and the collected data, e.g. the company's efficiency

To get problems, it is worth using the cost optimization service

A cost optimization plan supported by extensive training and implementation support can prove to be a key factor in developing an informed business strategy that will enable you to gain or maintain your desired market position. When you decide to optimize costs with ConQuest Consulting, your company will receive both comprehensive reporting and training support, thanks to which you will effectively plan your perfect development.

https://conquestconsulting.eu/services-consulting-services/cost-optimization/

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Take advantage of the market research offered by Conquestconsulting.

Every company, sooner or later, may face the necessity of external support. For this purpose, it is worth using the help of a partner specializing in consulting on a global scale. Our services are basically based on cooperation. We help our clients better understand the business mechanisms governing their industry. Thanks to our experience, we provide extensive knowledge of prospective markets and key competition. By deciding to research the market, we will create a selected team of 30 specialists working in ConQuest Consulting and support from our over 250 network partners, operating in the full spectrum of various markets, industries and specializations.

Trust the experience of specialists

A modern entrepreneur needs not only a good idea and start-up capital to be successful. In the modern world of business, it is also necessary to meet the requirements set by the specificity of the market and competition. If we want the actions taken to be appropriate and lead to the development of the company, it is necessary to take into account the principles of the market. They come down to a series of processes and phenomena along with the reasons for their occurrence. Information on them can be provided by market research conducted by a professional consulting company.

https://conquestconsulting.eu/services-consulting-services/market-analysis/

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What is Conquest consulting?

Conquest consulting is a consulting company that provides professional advisory services tailored to your needs. ConQuest Consulting has 22 years of experience in introducing companies to new product and geographic markets - strategic consulting, market analysis, competition analysis, searching for business partners. Unique knowledge of difficult and niche markets. We offer professional consulting services tailored to the individual needs of companies. Our services are used by companies from the SME sector, scientific and research units and large corporations, including AGH, Decathlon, Silesian University of Technology, Bielenda, BauApp. Why is it worth using business consulting?

Take advantage of the knowledge of specialists

The basic assumption of consulting companies is to provide professional advice to support the organization that has decided to use this type of service. During their work, consultants use the collected materials to analyze a given situation. Thanks to this, the added value is the knowledge and materials prepared by employees, for which the company is willing to pay. According to a 2019 survey conducted by the Prospekt foundation on 105 Polish entrepreneurs, over 70% of them declared that they had encountered problems that they were unable to solve without the help of an external company. The next most popular answer was the answer indicating that thanks to a consulting company it is possible to have a new look at the data analyzed by the customer.

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