Competitive strategy isn’t just for the corporate giants

by | Jun 13, 2019 | Articles, Business, Competitive Strategy, Consumer behavior, Customer service, Food service, Hospitality, Marketing Strategy, Restaurants, Retail, Thought Leadership

Julius Dorsey @ ORA

Julius Dorsey reminds small hospitality owners that competitive strategy isn't reserved for big corporations

By Julius C. Dorsey Jr.

It felt good to go back to my hospitality “roots” during the stimulating dialogue on competitive strategy for restaurant success with the Cleveland Restaurant Alliance of the Ohio Restaurant Association yesterday.

As those attending discovered, all firms, big or small have the means to apply a planning process and reap big benefits. Competitive strategy isn’t reserved for billion dollar corporate giants.

We covered many points, but if the good folks in attendance left with nothing else, I hope they took away these 5 important pieces of advice.
• Your competitive strategy should be applicable over a 3-5 year period
• All competitive forces in any shape or form – whether Competitors, Suppliers, Customers, Newly formed competitors and Substitute offerings – are out for one thing: your PROFITS
• Always set an annual marketing budget
• Your first target market is internal – staff
• NEVER spend marketing dollars outside your defined target market segments or trade area

Many thanks to the Village Bean café in beautiful Olmsted Falls, and the Ohio Restaurant Association for the invitation!