- Research Feature
- Read Time: 15 min
The Internet marketplace allows companies to produce and sell a far wider range of products than ever before. This profoundly changes both consumer behavior and business strategy.
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Green marketing hasn’t fulfilled its initial promise, but companies can be more effective with it if they realize that a one-size-fits-all strategy doesn’t exist. Consumers swear that they want green products, but in checkout aisles, most revert to more common requirements — convenience, availability, price, quality and performance. The authors show how companies today can choose among several different green strategies targeted to specific customer segments.
A decade ago, multinational companies seemed poised to dominate in China. Today that picture has changed. Whereas IBM, HP and Compaq had quickly won more than 50% of the personal computer market, for example, Chinese company Legend Group Ltd. is now the number one supplier. Research in 10 industries over the last 10 years reveals a pitched battle of competencies between multinational and local players and points to five strategies that can help multinationals regain the edge.
Every company lives in fear of competitors that offer seemingly similar products for much lower prices. Dealing with such discounters is no simple matter, as Hewlett-Packard, May Department Stores, Salomon Brothers and others have discovered. Nevertheless, various strategies — ignoring or blocking the competitor, strengthening your value proposition or even strategic retreat — can help slow or even stop the low-end competitor without destroying the industry’s profit margins.
Even the best companies let their customers down sometimes, and many disappoint frequently. The authors lay much of the blame for this on companies’ obsession with uniqueness and differentiation. According to their analysis, companies are too quick to dismiss “category benefits” as a source of advantage. They explain why companies such as Toyota, Cemex, Orange, Medtronic and Sony are successful because they are simply better at offering what customers really want.
Customer-focused transformation is producing long-term, sustainable growth through a systemic, tested process. The approach gets all employees collaborating to identify the outcomes that customers need — and to help them get there.
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