It doesn’t matter what size your company is or what industry you are in. Every company is challenged with delivering a Known Good Product or Service Let’s face it, companies are only about offering products and services. When working with clients, I often ask their definition of a Known Good Product and am usually surprised by their inability to give me a good answer. They often say that it is a function of cost or quality or customer satisfaction or profitability, but I typically never hear them say Continue reading The ” Known Good Product ” Litmus Test
Anti-Strategy causes a negative impact on Market Effectiveness and your customers know it. Let’s start with a couple of definitions before we get into the meat of this article: Anti-Strategy: Conscientious employees trying to do the right things without the guiding principles of a clear strategy.
In consumer businesses, the answer is “Absolutely!” But what about in business-to-business (“B2B”) categories? If you type into your favorite search engine, “Do B2B brands matter?” it will surface a number of research-backed articles that emphatically declare, “Yes!” The skeptic might challenge, however, “Sure, if I’m Intel or some other mega-budget giant in a high profile category.”
Market Effectiveness™ is a series of cross functional business processes that need to be well managed and orchestrated. Market Effectiveness is akin to the supply chain and poor performance at either of these will result in bad business performance.
It’s natural and often advisable to get excited about “the next big, new thing” and focus your energy and revenue growth emphasis accordingly. However, just as there is continuing truth to the old business axiom, “Your best revenue growth opportunities are often with current customers”, it’s also true that companies abandon “old platforms” too quickly.
If you are like many leaders, you remember the great new ideas that were early springboards for your company’s success. For some reason, however, your new products and services “pool” seems to have dried up over the years. What happened? Have you become less creative? Has your organization grown complacent and removed from customers and how your products are used? Perhaps you’ve just been looking in the wrong places.
An executive once asked “at what revenue level does it make sense to adopt mass customization to improve business execution?” From the perspective of manufacturing products, it is one thing to be a “customizer” and quite another to be a “mass customizer.” Here’s how business leaders need to think about this issue.
It is possible to produce customized products with inefficiencies that only grow as Continue reading When Should A Company Adopt Mass Customization