A sound strategy is central to the success of a business. It defines who the target customers are going to be, how a company will appeal to them, and how it will address competitors. The business strategy should guide how the company is organized as well as objectives and how performance is going to be measured. Pricing is a key element in the successful execution of a company's strategic plan. A pricing policy should account for the desired image and the value of the product's differentiation with respect to the company's target market(s). Effective pricing also requires a thorough understanding of the company's cost structure and long term objectives.
A strategy assessment reviews the target market selection and the company's current and potential performance in serving those targets. Recommendations are made regarding potential changes in target markets and repositioning with respect to them, adjustments in product and service offerings, and modifying pricing policies to most effectively implement the desired strategy.
