On October 23rd, 2014, we updated our
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Leverage Market Knowledge to Create Demand & Direction
“ I skate to where the puck is going, not to where it is.”
Indicators of Poor Understanding of Customers and Competition
Unfocused Competitive Position
We Have it Too--response
Excessive Customer Turnover
Market Share Instability
Accounting Maneuvers Drive Financial Results
Pressure for Short Term Profits
What the Best Do! 1. CUSTOMER FOCUS: An obsession with understanding customer needs and delivering customer satisfaction. 2. COMPETITOR ORIENTATION: Continuous recognition of competitors’ sources of advantage, competitive position, and marketing strategies. 3. TEAM APPROACH: Cross-functional teams dedicated to developing and delivering customer solutions.
Customer retention can lead to 50%+ growth in profitability with essentially no increase in market share of sales revenue required
Ensure your market knowledge creates a continuum spanning customer orientation, product positioning, presentation, distribution channels, product development, the product itself, and product/ customer service.
Demand Generation Richard Lusk
Understanding, Creating & Seizing Consumer Demand
17 Brands, 3 Distinct Channels, North American and Europe
Segmentation By Customers Needs and Emotional Attachments
Consumer Segmentation Premium Channels Comfort, natural feel, support Body and breast shaping Shaping clothing, breast enhancement Functional Benefit Feel real, casual and appropriate Feel secure, pretty and appropriate Feel good, self expression, use of brands as a badge Emotional Benefit Low Basic comfort and styling Medium Function, beauty and high performance brands High High fashion brands, variety of styles Involvement Value Channels Basics Classics Enthusiasts
Tools Richard Lusk Planning Engine PDM bill of material requirements Production Plan Customer Delivery Prioritized Demands ERP Production System Capacity Management Material Availability Inventory