If you cannot describe your strategy in one sentence, then you do not have one! Using Verne Harnish’s “Mastering the Rockefeller Habits” methodology, which encompasses Jim Collins “Good to Great” concepts, it is important to know what your brand promises are to your customers. This is really how you will deliver your product and/or service to your customer in a way that will make you stand out in the marketplace. These promises have to be important to your customer, add value to the end product, and allow you the ability to differentiate yourself. They recommend that you choose your leading promise and have two following promises. For example, at Southwest Airlines their leading Brand Promise is “Low Fare,” and the other two promises are “Lots of Fun” and “Lots of Flights.” Choosing this strategy proved to be very profitable. By delivering on these promises better than their competition, they have been the more profitable than all the other airlines combined.
This is an explanation from question #4 from my article “12 Questions You Need To Ask Constantly.”