Corporate Digest Magazine- October/2017 Corporate-Digest-magazine-october | Page 28

Strategy How does huge momentum help? It works two ways. It removes bo lenecks internal to the organiza on- The present execu on team will become more aggressive, if earlier was not. Also, middle level managers will gain confidence in execu ng further plans/strategies. Secondly, momentum will help externally also in the sense that it will help in acquiring more market share. Ways to gain momentum Operate locally for reasonably longer me period and make hold on local market. Create and make aware brand for the product to the target customers. Innovate the product & brand recall frequently. If required, make alliances. Acquire local companies or brands which seem to be compe tors. Adopt aggressive marke ng strategies. Adopt aggressive pricing. Add innova ve and value added services to the product. Step into global market What for whom Gaining momentum by acquiring high velocity seems to be good for start-ups and SMBs (Small & Medium Businesses). Start-ups should gain it in the form of stairs. These companies should develop a plan very fast and execute. Moreover, they need to be much more innova ve and aggressive. Benefit of this will be that it will help in acquiring market share very fast. Risk a ached is that if plan fails the promoters may be demoralized. Bigger companies should acquire momentum by implemen ng plans slowly and con nuously in long term. Even new plan fails, it will not affect the present product-service por olio much. To conclude,acquiring momentum is needed. Which business should acquire momentum in what way is to be decided prudently. www.Venture-Care.com/Magazine October 2017 28