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The starting price for the Urus model of Lamborghini is $31 million! So the next time you hear the notion, “We don’t do commercials because our target audience isn’t sitting around watching TV,” let’s all take a cue from this brand on how to make and market something that is not a compulsory luxury for all.
On the other hand, consider your regular purchases from groceries to gadgets. These require you to survey and expend on a daily, monthly, or annual basis. You often stick to a particular brand, and if it gets mundane, you switch loyalties to other brands.
Do you see what is being practiced by brands to lure customers?
Did you note the diversity of customers that exist?
It is a strategy to target a group of audience, engage with them, and maintain their purchasing power might be hard to master. What can simplify this hustle is the Bowman's strategy clock. Let’s explore!
Introduction to Bowman's Strategy Clock
A comparison of the price of a product and its value perceived by customers for different products is mapped and studied using Bowman's strategy. Using this strategy, products and services are classified as cheap, affordable, or luxurious, and, at the same time, needful, likable, or dreamy.
Simply put, a Bowman's strategy clock offers a convenient way to understand your marketing potential.
Bowman's strategy clock plots the price of products with their market value perceived by customers in a clock format. Using this marketing tool, organizations can study the purchasing inclination of their target customers and devise future strategies to maintain them and grow as a successful venture.
Using it, a comparison of products and services is drawn between cost and its utility as perceived by the customers. This is done to determine its purchaseability by the customers and, therefore, the revenue potential for the organization.
As shown in this diagram, there are eight parameters assigned to products or services being studied:
- Low price-low perceived value or low price and low added value
- Low price-medium perceived value or low price
- Low price-high perceived value or hybrid
- Medium price-high perceived value or differentiation
- High price-high perceived value or focussed differentiation
- High price-medium perceived value or risky high margins
- High price-low perceived value or monopoly pricing
- Medium price-low perceived value or loss of market share
For a business strategist, the ideal parameters to target are 2, 3, and 4. This can be understood by the fact that such products and services are of significant appeal with respect to their quality, durability, and effectiveness within the purchasing power of the customer.
In turn, having such recognition in the market lays the foundation of a stable business amid competitors and other adversities. Your common brands of clothing lines, electronic gadgets, and fast foods fall in this category.
On the other hand, parameters 6, 7, and 8 of this Bowman's strategy clock apply to the limited purchase, whether concerning the audience size or its limited usability and, therefore, replaceability. For instance, monopoly pricing or the 7th parameter only works well with renowned brands with little competition and a defined target audience.
Luxury cars, as mentioned before, fall under this category.
PowerPoint Templates to Utilize Bowman's Strategic Model
Having gained insight into how a Bowman's strategy clock works, let’s explore ways to present our marketing potential using our A-list PowerPoint templates.
These fully editable templates can represent how your business falls under the domain of customer preference and purchaseability. This can help predict the revenue-generating potential for your business.
By aligning your product line along the eight regions on this clock, you can differentiate the profitable sources of your business from the perilous ones.
So scroll down and check out this curated list of top 10 PPT templates that you can edit, reframe, and use to represent your perfect business strategy. You can also convert and share these PPT templates as images or documents within and outside your institutions. Here we go!
Template 1
This single-slide PowerPoint template can compare the utility value and the price of products and services. In a swim tube format, this Bowman’s strategic clock will be able to identify a product’s market value using its eight parameters. This slide is entirely editable to allow organizations to compare their business performances.
Template 2
Use this PowerPoint presentation to showcase your products or services as per the customer’s inclination. Compare the price and perceived added values to determine strategies and re-direct promotions towards products that would help positive reinforcement.
Template 3
Here is the preview to another aesthetic PPT graphic to present Bowman's strategy effectively. Determine your course of business according to the hybrid, differentiation, and focussed differentiation regions of the plot. Edit this PowerPoint design at will and develop beneficial strategies from it.
Template 4
Use this spacious and topically designed PowerPoint design to showcase your best marketing skills. Edit, recolor, and rearrange this completely editable PPT slide to align it with your business persona. Using this PPT diagram, you can align your products and services with their impact on the customer’s purchase and determine the bestsellers.
Template 5
This is another PPT template to apply and understand the importance of Bowman’s strategy for your business. You can also use this PPT layout to explain the general working of this strategy to your audience. Exploit its editable nature at will and add instances and other details to make it more convincing.
Template 6
Here’s another topical yet vivid PPT design to present your business-centric Bowman’s strategy. As this PPT template is entirely editable, you can add or alter the text, play with the icons, and recolor it at will. Besides, its alternating solid-color theme is perfect for generating immaculate PPT presentations.
Template 7
Use this creatively designed PPT template to discuss Bowman’s strategy with your teammates. Address your strength and uniqueness with this PPT layout and discuss the same with your team. Edit it as per your requirements and create impactful PowerPoint presentations.
Template 8
Use this drill-out arrow format as another effective way to deliver on your marketing essence. Using alternately colored arrows in this PPT layout, you can align your products and services as per customer satisfaction while explaining in context of Bowman’s strategy. You can edit this PPT slide easily and share it with your marketing team to develop effectively.
Template 9
This is a serene PPT design that acquaints your audience with how your products are perceived and appreciated in the marketplace. The basic Bowman's strategy clock, as structured in this template, allows you to convey facts and figures straightforwardly.
Template 10
This PPT design is another way of depicting your market performance in a beautiful color-coded format. This PowerPoint layout is completely editable like others and can help marketers devise strategies and graphically address concerns that could hamper their growth.
While analysis is the first step of planning and revising a business marketing strategy, one needs to be thorough with the entire process to make their venture run smoothly. So go ahead, and use these templates to present your analytical findings with the Bowman's strategy clock. Tell us your experience in the comment section below.
P.S: Do you want to launch a new product line but don’t know where to start? Capture the pulse of customer demand by using our market trend analysis templates featured in this blog.
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