Thinking: The mind of a marketing genius
* Where are the best opportunities for your business today? How do you stand out in crowded markets? How do you deliver the best solutions for customers, and the best returns to shareholders?
* Where should you focus amidst this complexity? What is your competitive advantage? Which markets, brands, products and customers should you prioritize in order to maximize value creation?
* What is your defining purpose? How do you reflect the aspirations of your stakeholders? How could you make more of your brand, in new markets or applications? And how do you capture its full impact over time?
* Who are the customers for your business? How do you gain real insight into what they want? How do you embrace CSR, and address wider ethical issues? How do you create a truly cus tomer-centric business?
* How do create more radical innovation? How do you disrupt the existing market conven tions in order to create a significant and sustainable difference? How do you innovate markets and business as well as the solutions themselves?
* TRACK 4 STRATEGY
Designing your business from the outside in
'Discovery consists of looking at the same thing as everyone else and thinking what nobody has thought.'
'What do you want to achieve or avoid? The answers to this question are objectives. How will you go about achieving your desired results? The answer to this you can call strategy.'
'Ultimately, we wanted Nike to be the world's best sports and fitness company. Once you say that, you have a focus. You don't end up making wing tips or sponsoring the next Rolling Stones world tour.'
Most business strategies are inadequate for today's markets. They lack context and differenc flexibility and engagement. They often miss the bigger opportunities, and avoid the more diff cult but important choices for business. They are more about consensus than competitivene; standing still rather than moving forwards.
More intelligent strategy
Driven. Defining business priorities outside
challenge and customer needs
Focused. Focusing on the best value creating markets, products and customers, doing few things better.
Differentiated. Ensuring that strong and !■
sustainable competitive advantage sits at s
the heart of the business.r;
DESIGNING YOUR BUSINESS FROM THE OUTSIDE
better than the conventional industry wisdom, and the flexibility to adapt to changing markt They are often developed remotely from those who must be engaged to make them happ They fail to make the difficult choices of audiences or products or priorities - choices wh people are not often fond of making, and are unlikely to be favourable to everyone. They for to put competitive advantage at their core. As a result, strategies are devalued as a paper exercise to justify budget submissions, comp mised as soon as the people are asked to stop doing what they have always done, but dc want to, and end up being rather similar to the strategy of every other company in the sec They lack the decisiveness, direction and focus that a business needs today.
Types of strategy
Brand I Marketing Strategy I Strategy
Marketing should be the driving force of business strategy, ensuring that it is driven by the challenges and opportunities in markets, and defining where and how to compete, and how to win.
* Strategy is about direction: clarifying vision and objectives, enabling clarity of organiza tional purpose, alignment and momentum.
* Strategy is about choices: deciding where and how to compete, prioritizing which markets and customers, which brands...