The 4th Quadrant strategy evaluates the key values provided by your business, and compares them to the standards set by the competition and the expectations of your target customer base. After listing all of your key value offerings and placing them in this matrix, they should be evaluated as follows:
Quadrant I:
Company performs below the standard set by the competition, but in areas that customers don't care much about. Money spent improving these items is generally wasted.
Quadrant II:
Company performs above the standard set by the competition, but in areas that customers don't care much about. Sometimes, but not often, it is possible to get the customer group to care about these things that you already do well.
Quadrant III:
Company performs below the standard set by the competition, and in areas that customer care a great deal about. Poor performance here costing you both sales and profits. Remedial action is highly recommended.
Quadrant IV:
Company performs above the standard set by the competition, and in areas that customers care a great deal about. This is where you can find some gold!
Activities that fall into the 4th Quadrant are the ones that have the greatest potential for attracting new customers, and are the ones that can offer significant profit margins.
For more information about how we can help you find some 4th Quadrant capabilities, or how to capitalize on the ones you already have, please contact us at:
4thquadrantblog@cogeco.ca
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