Positioning Top Long-term Business Strategy

A majority of businesses (53.5 per cent) say focusing on goods or service positioning (such as good or service leadership, market segmentation, good or service diversification, and quality improvement) is their most important long-term strategy over the 2020 to 2024 period, says a report from Statistics Canada. Comparatively, 3.9 per cent of businesses report that low-price and cost leadership is their main focus. The remainder (42.6 per cent) say that both are equally important. The priority for the majority of businesses (57.5 per cent) over the 2020 to 2024 period is to expand their sales of existing goods or services, as opposed to maintaining sales or introducing new or improved goods or services. In addition, a larger proportion of businesses planned to optimize their current business processes (49.5 per cent) over the period, compared with introducing new or improved business processes (26 per cent) or maintaining current business processes (20.2 per cent).