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Market strategy and the strategic pathway Lecture 4.

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1 Market strategy and the strategic pathway Lecture 4

2 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

3 Agenda What is strategy anyway? Strategic thinking Thinking strategically From strategic thinking and thinking strategically to the strategic pathway

4 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?

5 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

6 What is strategy anyway? What strategy is NOT –strategic planning –analytical techniques –operational efficiency

7 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

8 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

9 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

10 Strategic thinking Strategic dilemmas –the strategy paradox –strategic goals –Schlimmbesserung (worse improvement)

11 Strategic thinking The growth mandate –when growth stalls –building growth platforms –adjacency and hidden assets for growth –the growth gamble

12 Strategic thinking Reinvention and renewal –new business models The limitations of imitation –playing catch-up –benchmarking –intellectual leadership

13 Strategic thinking Radical innovation –disruptive innovation –cannibalization –value innovation –big ideas –innovation networks

14 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

15 Strategic thinking Timing and speed –business agility –fast strategy, or not so much –first mover advantage, or maybe not –active waiting

16 Strategic thinking Crisis and failure –its not our fault –its our fault –its their fault –failure –why do we get caught unawares?

17 Strategic thinking Social legitimacy –ethical standards –corporate social responsibility

18 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

19 Strategizing processes Management processes Planning/ budgeting Strategizing Strategy Existing/sameNew

20 Thinking strategically The power of creativity, judgement and emotion –emotion –gut-feeling and strategic intuition –judgement –leadership and thinking strategically

21 Getting to the strategic pathway Strategic thinking Thinking strategically Strategic pathway

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