Quantitative Strategic Planning Matrix (QSPM) is a high-level strategic management approach for evaluating possible strategies. Quantitative Strategic Planning Matrix or a QSPM provides an analytical method for comparing feasible alternative actions.
When company executives think about what to do, and which way to go, they usually have a prioritized list of strategies. If they like one strategy over another one, they move it up on the list. This process is very much intuitive and subjective. The QSPM method introduces some numbers into this approach making it a little more "expert" technique.
Here is the QSPM Analysis of our brand:
We have chosen three strategies from our TOWS Analysis, and will rate them after assigning weights to our internal & external factors.
Strategy 1 (SO): Creating Instagram & Snapchat filters using AI & Graphic Design featuring different interior simulations: Market Penetration
Strategy 2 (WO): Recycling & reuse of discarded/old products and creating new designs with the same: Product Development
Strategy 3 (ST): Launching a mid-premium brand extension to target this customer segment: Market Development
From the above analysis we find out that, Strategy 3 has the highest weighted score. Hence, market development by "Launching a Mid-Premium Range" would be a feasible strategy to pursue.
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