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market = product / service + customer + customer need
a plan of action designed to achieve a particular goal
is a process that allow an organization to concentrate itslimited resources on the greatest opportunities to
increase sales and achieve a sustainable competitive
advantage.
This is a specific activity for specific objectives, for
specific people, to be performed by specific people
within a specified period of time.
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create superior performance
sustain superior performance
understand your core business
know your competitor as you know yourself
make sure you are sophisticated
understand your internal and external target market
and react to the feedback
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determining distinctivecapabilities
achieving superiorperformance
becomingmarket-Oriented
matching customervalue to requirements
capabilities
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- customer is the focal point of a companys total
operations.- continuous creation of superior value for customers for
his / her satisfaction.
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requires the involvement and support of the entireworkforce cross-functional participation.
- monitor rapidly changing customer needs and wants
to determine impact on customer behavior, increase
the rate of product innovation and implementstrategies that build companys competitive
advantage.
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customer focus
competitor intelligence cross-functional cooperation
Performance implication
customer focus
market orientation is delivering customer value.
after understanding customers preferences and
requirements deploying organizations resources
effectively to satisfy customers.
requires finding out what values play vital role in
purchasing decision and objective of buyer.
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competitor intelligence
key questions are which competitors, and what
technologies, and whether target customers perceivethem as alternate satisfiers.
creation of superior value requires identification and
understanding of the principal competitors short-
term strengths and weaknesses and long-term
capabilities and strengths.
failure to identify and respond to competitive threats
can create serious consequences. example: Polaroid
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cross functional coordination
all business functions work together to provide
superior customer value. walls between business functions should be
successfully removed.
customer
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companies that are market oriented display favorable
organizational performance as compare to thoseorganizations that are not customer oriented.
performance implications
capabilities are complex bundles of skills & accumulated
knowledge, exercised through organizational processes,
that enables firms to coordinate activities and make use
of their assets.
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EXTERNAL
EMPHASIS
INTERNAL
EMPHASIS
Outside-In
Processes
Inside-Out
Processes
Spanning Processes
Market sensing
Customer linking
Channel bonding
Technology
monitoring
Customer order fulfilment
Pricing
Purchasing
Customer service delivery
New-product/service
development
Strategy development
Financial management
Cost control
Technology development
Integrated logistics
Manufacturing/transfor
mation processes Human resource
management
Environmental health &
safety
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outside in processes
connect the organization to the external environment. provide market feedback.
Offer direction for spanning & inside out processes.
inside out processes
Provide vital information for new productdevelopment, service requirements & competitive
threats.
necessary to satisfy customer value requirement.
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value for buyers consists of the benefits and costs
resulting from the purchase and use of the products. superior value is perceived by the buyer when there
are positive net benefits.
Companies need to pursue value that match distinctive
capabilities.
management must determine where and how it can
offer superior value, directing these capabilities to
market segments that result in favorable competency /value match.
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buyers form value expectations and decide to purchasegoods and services based on their perceptions of
products benefits less the total costs.
customer satisfaction indicates whether the product or
service met the buyers value expectations or not.
superior customer value results from a favorable use
experience as compared to the value offerings of
competitors.
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providing value to customers
deliver value by differentiating the product offer,
offering lower prices relative to competing brands, or acombination of lower cost & differentiation.
deciding which avenue to follow requires matching
capabilities to the best value opportunities.
market sensing capabilities must have effective processes for learning about their
markets. And the information gathered must be shared
across the functions so that appropriate actions can be
taken.customer linking capabilities Establish & maintain close relationship with customer,
this will reduce the possibility of a customer shift of
customer towards competitors offering.
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