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Mars, Inc. can apply the strategy archetypes to drive category growth by focusing on the following points:
1. Adaptation: Mars, Inc. can adapt to changes in the market and consumer preferences. This could involve introducing new products or modifying existing ones.
2. Shaping: The company can attempt to shape the market to its advantage. This could involve influencing consumer behavior or setting industry standards.
3. Classical: Mars, Inc. can continue to focus on efficiency and cost control, as it has been doing.
4. Visionary: The company can envision and create new market spaces or categories.
5. Renewal: If necessary, Mars, Inc. can focus on renewing its core business and returning to its roots.
Question was asked on:
Paul Michael, President of Mars, Inc., says that he develops plans with a one-year and long-term horizon. He focuses on what they can control directly, such as costs and profitability. Mars is already a household name and has been for decades, so the goal is not recognition so much as driving category growth.
Asked on the following book summary:
We live in a business world that is in constant flux. But when you learn and understand the five strategy archetypes and how to execute them, you will...
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