Strategic Market Creation


Book Description

The majority of existing innovation textbooks either discuss innovation in an all to general way or lean towards a general management or technology perspective. This book combines the fields of marketing and innovation management, acknowledging that marketing plays an important and proactive role in radical product, brand and market innovaton processes. Structured around two key themes – 'Knowledge, Processes and Capabilities for Market Creation' and 'Co-Creation of Meaningful Experiences with Customers', this book fills an important gap in the market.




The Anatomy of Market Creation


Book Description

This dissertation is an action-research inquiry into the unique strategic management challenge of creating a new market for an altogether new product form. The research was conducted over a four-year period while working as a project manager and consultant to two "greenfield" corporate ventures whose goal was to profitably serve the unmet needs of impoverished slum and village communities in Kenya and India. In both ventures, the new product and service offerings that were developed and commercialized were ones for which the targeted communities had no comparable, much less equivalent, products against which they could benchmark. The principle finding from this dissertation concerns the strategic innovation processes effective for catalyzing the consumer sense-making necessary for adopting a product for which there are no consumption benchmarks. Current management innovation strategies for market creation around a new product form leave undertheorized and un-addressed the issue of personal-level consumer learning in the face of "discontinuous products." This dissertation draws together field learnings and experiences from the Kenya and India ventures with theoretical contributions of performance theory to demarcate a market creation strategy tailored for this demandside challenge. The strategy is based on catalyzing an initial community of practice centered on the new product form. Management frameworks for both content and process dimensions of a market creation strategy are developed; they include a "market creation mix" and a "performance innovation process," respectively.




Creating Customer Value Through Strategic Marketing Planning


Book Description

Creating and delivering superior customer value is essential for organizations operating in today's competitive environment. This applies to virtually any kind of organization. It requires a profound understanding of the value creation opportunities in the marketplace, choosing what unique value to create for which customers, and to deliver that value in an effective and efficient way. Strategic marketing management helps to execute this process successfully and to achieving sustainable competitive advantage in the market place. Creating Customer Value Through Strategic Marketing Planning discusses an approach that is both hands-on and embedded in marketing and strategy theory. This book is different from most other marketing strategy books because it combines brief discussions of the underlying theory with the presentation of a selection of useful strategic marketing tools. The structure of the book guides the reader through the process of writing a strategic marketing plan. Suggestions for using the tools help to apply them successfully. This book helps students of marketing strategy to understand strategic marketing planning at work and how to use specific tools. Furthermore, it provides managers with a practical framework and guidelines for making the necessary choices to create and sustain competitive advantage for their organizations.




Exploring Proactive Market Strategies


Book Description

In discussions of firm strategy, proactivity is often mentioned as an enabler of effective goal accomplishment and high performance. However, it is rarely explained what, more precisely, being more proactive actually entails, or even indeed defined what is meant by the term ‘proactivity’ in this particular context. This dissertation seeks to investigate proactivity and its role in shaping firms’ market strategies. From prior research on proactivity in the strategic marketing domain, we know that proactive firms, on average, develop more radical innovation, are better at managing complex and highly competitive environments, and seem to achieve higher business performance. However, few, if any, of these prior studies properly define proactivity and take a more holistic perspective on its impact on firms’ market strategies. In this dissertation I propose a definition of proactivity through three main proactive characteristics: being future-oriented, taking the initiative, and driving change. Thus, a proactive firm does not wait for things to happen and then react to those events. Instead, it keeps a long-term horizon on its scanning for market intelligence and takes action before things happen, in order to create the change needed to improve its situation. While certainly not all proactive actions are successes, particularly not if the firm lacks proper awareness of the situation or exceeds its capabilities in its striving to shape events, proactive firms do have access to a broader set of opportunities than their less proactive competitors. To understand how proactivity influences market strategies, it is first necessary to understand market strategy itself a bit closer. I define market strategies as firms’ strategies for creating customer value. According to the market orientation literature, the basis of achieving long-term high firm performance is to consistently provide customers with superior value to that of the competition. Thus, firms’ market strategies are squarely at the center of their efforts to become more successful. To study these strategies and the effects they have, it is necessary to go beyond strategy documents and study the actual activities that firms perform to implement them. A market strategy, in my conceptualization, can thus be perceived as a coherent set of activities aimed at fulfilling certain goals, leading to the creation of customer value. These activities can then be further categorized according to the strategic orientations that drive the firm’s strategy-making, with customer orientation, competition orientation and innovation orientation being the orientations that have the most impact on market strategies. From this conceptual foundation, the dissertation takes four different approaches to investigating proactive market strategies, each presented in one of the four appended papers. In the first paper, a conceptual typology of different types of market strategies based on different value-creation logics – which are the combinations of responsiveness and proactivity that influence a firm’s value-creation efforts – is presented. In the second paper, the market strategies of five proactive firms are investigated to find three generic proactive market strategies, each representing a typical way for firms to employ proactivity in their market strategies. The third paper uses fuzzy-set qualitative comparative analysis to investigate the configurations of proactivity, market environment and different market strategies that consistently lead to high market-strategic effectiveness. Finally, the fourth paper goes more in-depth in exploring the activities that firms employ to create value for customers, with particular focus on the different activities that are performed during different stages of contact with a customer. Through this thorough investigation of proactive market strategies, this dissertation presents a holistic view of proactivity and its impact on firms’ market strategies and their associated activities. As this is the first proper holistic view of proactivity in market strategy and also the first attempt to properly define proactivity in the market-strategic context, the dissertation also provides directions for future research. ”Vi måste vara mer proaktiva” är en fras som säkerligen har dragits på många strategimöten. I såväl internationaliserade jättar som lokala småföretag, tjänsteföretag likväl som tillverkande industrier, har det i styrelserum, ledningsmöten, pratats om behovet att vara mer proaktiv. Det uppenbara är att proaktivitet ses som något positivt, något som kan hjälpa företaget bli bättre, mer konkurrenskraftigt, och så vidare. Men vad menar man egentligen med att vara proaktiv i det här sammanhanget? Och hur påverkar det egentligen företags prestationsförmåga? Harald Brege vid Linköpings Universitet har studerat proaktivitet och hur företag kan använda det för att öka effektiviteten på sina marknadsstrategier, d.v.s. deras strategier för att skapa kundvärde. Proaktivitet är en nyckel som kan låsa upp möjligheter för företag att bli bättre på att hantera en föränderlig och komplex omvärld och stärka sin konkurrenskraft. Slår man upp ordet ”proaktiv” i SAOL får man veta att det betyder förebyggande eller förutseende, men för att kunna användas som ett verktyg för strategiutveckling behövs en mer användbar definition än så. Ur ett strategiskt perspektiv så har proaktivitet tre huvudsakliga komponenter: att vara långsiktig, att ta initiativet och att driva förändring. Det viktigaste för ett proaktivt företag är att inte vara passiva och vänta på att något händer som tvingar dem till förändring eller att bara reaktivt agera på det som finns i omvärlden. Istället så blickar man framåt, identifierar de potentiella sätt som en situation kan utvecklas på och tar sedan initiativet och agerar för att förändra situationen så att den passar företaget bättre. Dock så räcker det inte bara att bli proaktiv och så får man stora vinster på direkten. För att proaktiviteten ska bli framgångsrik så måste ett företag dels arbeta för att skaffa en grundlig förståelse av sin omgivning, dels se till de olika delarna i deras marknadsstrategi hänger ihop och arbetar mot samma mål. Är strategin otydlig eller om företaget håller på med saker de inte har insikt i så är proaktivitet istället sannolikt att ge dåliga resultat. Genom att arbeta för att förstå sina kunder på djupet så kan proaktiva företag snabbt komma med lösningar till behov, inklusive behov som kanske inte ens kunderna själva hade identifierat. Genom att aktivt arbeta med att förändra kunders uppfattning av vad en leverantör ska göra för dem och att påverka politiker och andra intressenter så kan proaktiva företag forma sina marknader för att bättre passa dem. Genom att driva produktutveckling som fokuserar på morgondagens produkter och att testa nya möjligheter, inte bara småförbättringar av samma gamla produkter, så kan proaktiva företag skapa innovativa nya erbjudanden som vänder upp och ner på marknaden. Dessa tre exempel belyser de tre generiska proaktiva marknadsstrategier som har identifierats: kundengagemang, marknadsformande, och innovationsledarskap.




Blue Ocean Leadership (Harvard Business Review Classics)


Book Description

Ten years ago, world-renowned professors W. Chan Kim and Renee Mauborgne broke ground by introducing "blue ocean strategy," a new model for discovering uncontested markets that are ripe for growth. In this bound version of their bestselling Harvard Business Review classic article, they apply their concepts and tools to what is perhaps the greatest challenge of leadership: closing the gulf between the potential and the realized talent and energy of employees. Research indicates that this gulf is vast: According to Gallup, 70% of workers are disengaged from their jobs. If companies could find a way to convert them into engaged employees, the results could be transformative. The trouble is, managers lack a clear understanding of what changes they could make to bring out the best in everyone. In this article, Kim and Mauborgne offer a solution to that problem: a systematic approach to uncovering, at each level of the organization, which leadership acts and activities will inspire employees to give their all, and a process for getting managers throughout the company to start doing them. Blue ocean leadership works because the managers' "customers"--that is, the people managers oversee and report to--are involved in identifying what's effective and what isn't. Moreover, the approach doesn't require leaders to alter who they are, just to undertake a different set of tasks. And that kind of change is much easier to implement and track than changes to values and mind-sets. The Harvard Business Review Classics series offers you the opportunity to make seminal Harvard Business Review articles a part of your permanent management library. Each highly readable volume contains a groundbreaking idea that continues to shape best practices and inspire countless managers around the world--and will have a direct impact on you today and for years to come.




Red Ocean Traps (Harvard Business Review Classics)


Book Description

As established markets become less profitable, companies increasingly need to find ways to create and capture new markets. Despite much investment and commitment, most firms struggle to do this. What, exactly, is getting in their way? World-renowned professors W. Chan Kim and Renee Mauborgne, the authors of the best-selling book Blue Ocean Strategy have spent over a decade exploring that question. They have seen that the trouble lies in managers' mental models--ingrained assumptions and theories about the way the world works. Though these models may work perfectly well in mature markets, they undermine executives' attempts to discover uncontested new spaces with ample potential (blue oceans) and keep companies firmly anchored in existing spaces where competition is bloody (red oceans). In this bound version of their bestselling Harvard Business Review classic article, they describe how to break free of these red ocean traps. To do that, managers need to: (1) Focus on attracting new customers, not pleasing current customers; (2) Worry less about segmentation and more about what different segments have in common; (3) Understand that market creation is not synonymous with either technological innovation or creative destruction; and (3) Stop focusing on premium versus low-cost strategies. The Harvard Business Review Classics series offers you the opportunity to make seminal Harvard Business Review articles a part of your permanent management library. Each highly readable volume contains a groundbreaking idea that continues to shape best practices and inspire countless managers around the world--and will have a direct impact on you today and for years to come.




Strategic Market Management


Book Description

Suitable for all business students studying strategy and marketing courses in the UK and in Europe, this text also looks at important issues such as the financial aspects of marketing.







Strategic Marketing Management


Book Description

Essentials of Strategic Marketing Management, The Process of Strategic Marketing Management, Analysing Buyer Behaviour, Strategic Marketing Factors for Growth, Strategic Marketing Planning, Situation Analysis, Market Segmentation and Product Positioning, Strategic Product Pricing, The Distribution Strategy, Product Life Cycle Management Strategies, New Product Strategies, Competition-Winning Strategies, Advertising and Sales Promotion Strategies, Salesforce Management Strategies, Strategies Brand Management, Creation of Competitive Advantages, Strategic Services Management, Customer Relationship Strategies




Marketing Strategy and Tactics


Book Description

The success of an offering is defined by the company’s ability to design, communicate, and deliver market value. The particular way in which an offering creates value is determined by the company’s business model and its two building blocks: strategy and tactics. The key aspects of developing an offering’s strategy, designing its tactics, and crafting a market value map are the focus of this note. The discussion of marketing strategy and tactics is complemented by an in-depth overview of two additional topics: the 3-C, 4-P, and 5-Forces frameworks and the key aspects of analyzing the market context. This note is an excerpt (Chapter 2) from Strategic Marketing Management: Theory and Practice by Alexander Chernev (Cerebellum Press, 2019).