An Agenda for Market-Led Strategic Change

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Market-Led Strategic Change: Transforming the Process of Going to Market Professor Nigel Piercy Warwick Business School The University of Warwick

Market-Led Strategic Change: Transforming the Process of Going To Market 4th ed.

Nigel F Piercy
(ButterworthHeinemann/ Elsevier, 2009)

An Agenda for Market-Led Strategic Change
 New marketing  Customer value imperatives
    The customer is always right-handed New marketing meets old marketing Value-based marketing strategy Strategic thinking and thinking strategically

 Developing a value-based marketing strategy
 The strategic pathway
• • • • Market sensing and learning strategy Strategic market choices and targets Value strategy and positioning Strategic relationships and networks

 Processes for managing strategic transformation
 Strategic gaps  Organization and processes for change  Implementation process and internal marketing

New marketing: marketing is dead, long live marketing!

New marketing
The need to challenge conventional views of marketing The process of going to market What managers need to know Challenges for the 21st century manager The strategic pathway

The process of going to market
Creativity Innovation Reinvention

Processes that define value
e.g., market knowledge and learning, CRM, research, intelligence

Processes that create value

e.g., new product development, innovation, brand development, strategic relationships

Customer value

Processes that deliver value
e.g., channels, supply chain, customer service

Resources Capabilities Strategic relationships

What managers need to know
The process of going to market, not “marketing” in the traditional sense: understanding customers and superior value building marketing strategy to deliver a robust value proposition to customers achieving implementation by driving the things that matter through the corporate environment

The challenges of the 21st century

21st Century challenges
New business Innovation models Business agility Crisis Recession survival Siege and recovery

The process of going to market

Aggressive Globalization Virtuality investment

Paradox CSR

Strategy

The strategic pathway
Strategic thinking and thinking strategically

Market sensing and learning strategy

Strategic market choices and targets

Customer value Strategic strategy relationships and and positioning networks

Strategic transformation and strategy implementation

The customer is always right-handed: Customer satisfaction, customer sophistication and market granularity

The customer is always righthanded
The customer conundrum The sophisticated customer Market shifts and quakes consumer market changes market granularity re-shaped business-to-business markets

How can marketing processes respond to these changes?

How can marketing processes respond?
Radical and disruptive changes in market structures have left traditional marketing behind The urgent challenge is to update how we “do” marketing to reflect how customers and markets have changed

New marketing meets old marketing: New marketing wins

Old marketing has not kept up…
Old marketing is about marketing programmes
structured/planned around traditional model operations/tactical

New marketing is concerned with the underlying process of going to market and strategic choices

Marketing strategy and marketing programmes (the „marketing mix‟) Marketing strategy Marketing programme Customer marketplace

The value offering

* Product policies * Pricing policies * Place/distribution * Promotion/marketing communications

Marketing tools

Products, brands and innovation
Conventional views of product policy
defining the product itself choosing the product mix creating a branding policy developing and launching new products managing product deletions

Much emphasis on brands to compete

Products, brands and innovation
So...
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