Presentation on theme: "Market strategy and the strategic pathway Lecture 4."— Presentation transcript:
Market strategy and the strategic pathway Lecture 4
A route-map for market- led strategic change Value-based marketing strategy New marketing meets old marketing Strategic thinking and thinking strategically Customer value strategy and positioning The strategic pathway Strategic market choices and targets Market sensing and learning strategy Strategic relationships and networks Change strategy Strategic gaps Organization and processes for change Implementation process and internal marketing Part I Customer value imperatives Part II Developing a value-based marketing strategy Part III Processes for managing strategic transformation The Customer is always right-handed
Agenda What is strategy anyway? Strategic thinking Thinking strategically From strategic thinking and thinking strategically to the strategic pathway
What is strategy anyway? Strategy is about –competitive arenas – where we will be active –vehicles – how we will get there –differentiators – how will we win in the marketplace –staging – the speed and sequence of our competitive moves –economic logic – how will we obtain returns?
What is strategy anyway? A simple view of strategy –being best at the things that matter most to customers –finding new and better ways of achieving this Strategy should not be so complex no-one can understand it
What is strategy anyway? What strategy is NOT –strategic planning –analytical techniques –operational efficiency
What is strategy anyway? Strategy IS about –Revolution, reinvention and renewal Breaking free from –management tools –industry dogma and rules –the present –tactics and sameness –hostility to change
Strategic thinking Marketing as strategy –strategic dilemmas –the growth mandate –reinvention and renewal –the limitations of imitation –radical innovation –timing and speed –crisis and failure –social legitimacy
Strategic thinking Marketing as strategy Strategic dilemmas The growth mandate Reinvention and renewal The limitations of imitation Radical innovation Timing and speed Crisis and failure Social legitimacy
The pioneer, migrator, settler map Pioneers: value innovate Migrators: improve value Settlers: me-too businesses Current portfolio Planned portfolio High-growth trajectory Source: Adapted from W. Chan Kim and Renee Mauborgne, Value Innovation: The Strategic Logic of High Growth, Harvard Business Review, January-February 1997, pp
Strategic thinking Timing and speed –business agility –fast strategy, or not so much –first mover advantage, or maybe not –active waiting
Strategic thinking Crisis and failure –its not our fault –its our fault –its their fault –failure –why do we get caught unawares?
Strategic thinking Social legitimacy –ethical standards –corporate social responsibility
Thinking strategically Strategizing Barriers to strategic thinking and thinking strategically –doing new stuff in old organizations –the halo effect –evidence-based management Weirdos The opposable mind