Navigating Uncertainty in 2025
- Francois R Bosse, CMC
- Jul 11
- 1 min read
The day following the Canada Day celebrations, NBC Financial Markets published an editorial by their chief economist Stéfane Marion titled "Policy Success Starts with Base Hits". https://www.nbc.ca/content/dam/bnc/taux-analyses/analyse-eco/etude-speciale/special-report_250702.pdf where Marion advocates for less risky federal policy to support industry and the economy in general. This advice is great and we believe that individual businesses can act too. Here are some ideas how:
Leverage market penetration strategies: Increase sales of existing products or services in current markets by enhancing marketing efforts, offering promotions, or improving customer service.
Why? It's a low-risk approach that builds on your existing market presence.
Develop new products or services: Innovate by creating new products or enhancing existing ones to meet evolving customer needs, using a Blue Ocean Strategy for example.
Why? Because it keeps your business competitive and opens new opportunities for premium pricing.
Expand into new markets: Grow by offering your products and services in new geographies in the hope of finding new clients.
Why? It's medium-risk approach but can also expand opportunities for your premium pricing offering.
It has been proven that you don't need to take high risks. Following a Blue Ocean Strategy means taking little steps to capitalize on your existing assets as a supplier to create new markets where you float above the competition. Likewise, Canada does not need to re-invent itself, it just needs to invest in itself a little better and seek new commercial partners.
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