Business Review Questions
As we approach year-end, the planning process for next year is kicking into gear. But with Black Friday preparation being in full swing it can be hard to find a moment to pause and reflect on the past year’s results.
Though taking a step back to understand not only what happened but why is essential to set the right focus for the year ahead. The goal? Identify growth opportunities and pinpoint barriers.
To help, I am sharing 10 spaces to review and 3 questions each to get you started:
Market
In which market & categories are we competing?
How is our market space developing?
What trends do we see surfacing?
Competition
Who are our competitors?
What is their brand positioning?
How do they compete (products, pricing, promotions)?
Company
What are our results
What drove the results (positive & negative)?
How do the results compare vs. the market & competitors?
Consumers
Who is our consumer?
What are their needs and challenges?
Why do they buy us or not?
Brand
What is your promise to the consumer, and is it relevant?
How is our positioning different vs. our competition?
How does the consumer recognise us?
Product
What are our hero products?
Do we have assortment gaps vs. our competition?
Do we have product innovation that delivers against consumer needs?
Communication
Is your communication based on a consumer insight?
Is the communication relevant and highlighting what we uniquely have to offer?
Are we making our brand recognisable?
Pricing
What is our pricing strategy?
How do consumers see our price-value-ratio?
Are we competitive?
Promotions
What is our promotional strategy?
What discount mechanics work in the category and for the consumer?
Are we competitive in terms of frequency & deal?
Distribution
Are we distributed where our consumer is shopping?
In which channels are we winning or not and why?
Are we delivering against our retail partner’s strategies?