Lowering your price to increase sales. | Increasing your price to boost margins and profits. |
Calling a customer to apologize and try to turn around their dissatisfaction. | Making an investment because a price is attractive. |
Hiring a top talent from a competitor. | Give a prestigious customer a steep discount in exchange for a testimonial. |
Take on an action item that is important to an executive. | Cancel an advertising campaign when it’s clear its not working as planned. |
Cancel an expensive business trip when you sense the customer isn’t likely to buy. | Challenge an executive in a meeting to create visibility for yourself. |
Give an important employee a sudden raise, positive feedback and recognition because you sense they are at risk of quitting. | Send stock from your retail location to your ecommerce fulfillment center to meet demand in that channel. |
A hotel lowers their price when a number of bookings get canceled. | A retailer shortens their hours to save costs when sales drop. |
A hotel increases prices and drops discounts when demand suddenly increases. | A brand posts to social media to respond to criticism. |
A school holds parent teacher conferences to quell misinformation that has spread by word of mouth. | A brand changes their advertising plans to respond to a controversy affecting a competitor. |
Markets
A trader purchases a stock she wouldn't ordinarily buy simply because the price drops irrationally low as the result of a capitulation process.Weather
A ski resort applies steep discounts to hotel rooms based on weather forecasts that suggest several weeks of unseasonably warm temperatures.Locations
A retailer has a strategy to open 10 new locations in a given year. The plan is almost complete when a lease becomes available in a prime location. They decide to open an 11th shop to grab the prime location.Information Security
An IT team disables several customer accounts when it realizes their passwords may have been leaked.Environment
A city bans gasoline powered cars in its city center for a day when air quality drops to dangerous levels.Pricing
A fashion retailer increases its price when it realizes there will be strong demand for a new product.Promotion
A restaurant chain increases its advertising budget when a particular commercial is unusually successful in driving word of mouth and sales.Supply Chain
A supply chain disruption causes a fast food restaurant to run out of french fries across an entire region. They contact a wholesaler of snacks and purchase a variety of substitutes such as potato chips.Diplomacy
A protectionist government places new tariffs on a range of goods. Other countries respond with their own tariffs in a tit for tat response.Career
An IT team experiences a period of instability as two senior resources leave just as a large project is about to launch. A junior engineer steps in to work long hours to help the team deliver to commitments. The engineer ends up doing the work of far more senior resources and gains valuable experience and reputation. Within months she is promoted.Projects
A vendor delivers low quality work products that cause a project to miss dates. The program management team decides to withhold milestone payments to the vendor to get the attention of the firm's management.Ethics
An employee joins a new firm and finds that it has a poor ethical climate. She decides to cut and run by returning to her former employer.Negotiations
A purchaser deploys a bogey in negotiations by claiming that it is their firm's standard to pay suppliers within 135 days of invoice. They know the seller won't be able to accept such terms and may bend on price.| Overview: Tactics | ||
Definition | Actions that respond to fast changing realities to seize opportunities while they exist and manage risks. | |
Related Concepts | ||
