Market strategy and the strategic pathway Lecture 4.
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Transcript of Market strategy and the strategic pathway Lecture 4.
Market strategy and the strategic pathway
Lecture 4
A route-map for market-led strategic change
Value-basedmarketingstrategy
New marketing
meetsold
marketing
Strategicthinking and
thinkingstrategically
Customer valuestrategy andpositioning
The strategic pathway
Strategicmarket choices
and targets
Market sensingand learning
strategy
Strategicrelationshipsand networks
Change strategy
Strategicgaps
Organizationand processes
for change
Implementationprocess and
internalmarketing
Part ICustomer value
imperatives
Part IIDeveloping a value-based
marketing strategy
Part IIIProcesses for managingstrategic transformation
The Customeris 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
Marketingas
strategy
Strategicdilemmas
The growthmandate
Reinventionand renewal
The limitationsof imitation
Radicalinnovation
Timing andspeed
Crisis andfailure
Sociallegitimacy
Strategic thinking
• Strategic dilemmas– the strategy paradox– strategic goals– Schlimmbesserung (“worse improvement”)
Strategic thinking
• The growth mandate– when growth stalls– building growth platforms– adjacency and hidden assets for growth– the growth gamble
Strategic thinking
• Reinvention and renewal– new business models
• The limitations of imitation– playing catch-up– benchmarking– intellectual leadership
Strategic thinking
• Radical innovation– disruptive innovation– cannibalization– value innovation– big ideas– innovation networks
The pioneer, migrator, settler map
Pioneers:value innovate
Migrators:improve value
Settlers:me-toobusinesses
Currentportfolio
Plannedportfolio
High-growthtrajectory
Source: Adapted from W. Chan Kim and Renee Mauborgne, “Value Innovation: The StrategicLogic of High Growth”, Harvard Business Review, January-February 1997, pp. 102-113
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– it’s not our fault– it’s our fault– it’s 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
Strategizing processes
Managementprocesses
Planning/budgeting
Strategizing
StrategyExisting/same New
Thinking strategically
• The power of creativity, judgement and emotion– emotion– gut-feeling and strategic intuition– judgement– leadership and thinking strategically
Getting to the strategic pathway
Strategicthinking
Thinkingstrategically
Strategicpathway