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Iyad Idris , Marketing Coordinator , Omar A. Balubaid Group
Before embarking on any strategy formulation, detailed research must be done by conducting a thorough analysis of the environment that the company operates in including the competitors as well as the other relevant aspects or factors in the environment that impact the company. A consumer analysis is vital as without it the strategy is doomed to failure. Also specific goals and kpi's need to be defined so that you end up formulating a strategy that actually addresses the relevant issues.
