International Marketing Lecture

PGray® on Strategy Strategy is about choices. Deciding where and how to compete, and how you will make money. Strategy gives people clarity of direction, where to focus, and connects all the fragmented and functional activities into a coherent approach. Strategy must be a more intelligent decision making process evaluating the bigger and best market opportunities, strategically and financially. Corporate Strategy defines the organizations overall purpose, and its vision of the future and mission for achieving this. It sets the context for business defining areas of focus, which are then typically represented by business units in the organizational structure. The corporate goals and values, brand propositions and culture align to this overall strategy. Business Strategy or business unit strategy, makes the more specific choices about where and how to compete, and the ways this will be achieved. It therefore specifies which markets, segments, and customers the business will focus on, and how it will be distinctively positioned emphasizing people, processes and products. It also specifies how the business will make money, (the business model). Strategy must deliver: Clarity of business priorities, where to compete, how to be different, and what will drive financial performance. Peter Gray Consulting Strategic International Marketing http://www.petergrayconsulting.net/

PGray® on Innovation Albeit the options for innovation growth are commonly grouped as organic and inorganic innovation (internally and externally sourced growth) the distinction is much more blurred today. Organic Innovation follows the premise of building on what you have. It is usually the easiest and quickest route to small incremental growth. This is not always the case, moving from a products-pushing to solution-selling model fully understanding the markets, segments and customer needs and wants can significantly increase revenues and profits. Inorganic Innovation follows the premise of acquiring something different, most often seen as strategic acquisitions. Such acquisitions are faced with challenges, can they work together to extract synergies in terms of fusing capabilities, cost savings, and customer growth. There are three broad ranging alternatives for innovation that should be distinguished and balanced by the time, effort and cost to deliver growth, and the risk and return involved. Operational Growth - Growing through stronger differentiation and deeper customer engagement - new customers, channels, value propositions, products and pricing. Innovative Growth - Growing by redefining context - new concepts, applications, markets, partners, processes and structures. Strategic Growth - Growing by transforming markets with breakthrough ideas - new ventures, categories, businesses, acquisitions, capabilities and business models. Peter Gray Consulting Strategic International Marketing http://www.petergrayconsulting.net/

Brands were originally developed as labels of ownership. However, today it is what they do for people that matters much more. Brands are about people, not products. Brands are about customers, not companies. There are many great brands, but most brands are still labels, relying too strongly on brand names and logos, and focused too heavily on the companies and products that they help identify.
A brand works at a high level, creating an iconic memory of a particular brand experience and value proposition for customers. Customer value propositions turn the brand idea into something far more tangible, specific and relevant for each target segment of customers. Propositions are therefore about defining differentiation & benefits, credibility and relevance.
A Strong Brand:
Reflects customer values, behaviors and attitudes
Defines a compelling purpose & value proposition
Aligns the organizations people, processes and products
Engages customers
Enables customers
Anchors customers to something special and important
Retains the best customers
Attracts target customers
Drives shareholder value – not only through profits, but through investor confidence
PGray® on Brands Brand behavior Brand proposition Credibility Character Affinity Differentiation Relevance Personality Brand DNA Peter Gray Consulting Strategic International Marketing http://www.petergrayconsulting.net/

PGray® on Markets Markets continually rise and fall, converge and fragment. They continually reshape. The most valuable markets in one year may very well be different the next year. In the past markets were the constants, stable and predictable, and businesses competed for the best positioning. Today competitive advantage is more about making the correct choices of which markets to compete in and which not. Deciding which regions, segments, and customers you will serve is likely to have more impact on your performance than a slightly better product, service or price. It is a natural and tempting behavior to want to serve everyone, to never say no to a customer, to be in ever more markets, and to be a global player. But that is rarely the smart choice. Expanding into and competing in fast changing markets where borders have fallen and rules are changing can be a disorienting experience. A comprehensive understanding of the markets and a realistic assessment of business capabilities and capacity determines your target customers, your competitors, your value proposition, and your potential for success. Key Market Indicators - Social, Cultural, Legal, Economic, Political, Technology, Competitive Intensity and Capabilities. Peter Gray Consulting Strategic International Marketing http://www.petergrayconsulting.net/

Marketing is more crucial than ever today. Marketing must be more intelligent to make sense of markets complexities, and more imaginative to stand out from the crowd of competition, to do business on customer terms, and to grow your business profitably while creating greater value for customers, employees, suppliers, distribution partners and shareholders. Marketing has always been a creative discipline, yet it is conventional in its execution. The product and packaging may be tweaked, and the advertising may tell a new story, but it is often lacking in real innovative solutions to customer problems, needs and wants, innovative ways to reach them, and innovative ways to connect with them. Marketing must go beyond the conventional 4 P’s marketing mix and find its creative spirit and be applied in a focused and disciplined manner. An expanded and contemporary marketing mix should include the "12 P's (Puzzle Pieces©)" being products, price, place, promotion, people, processes, physical evidence, profitability and propositions, and in the context of emerging international markets, patience, persistence and perseverance. Marketing should be the driving force of business or business unit strategy, ensuring that it is driven by the challenges and opportunities in the markets, and defining where and how to compete, and how to win. Marketing must deliver: Direction - Clarifying vision and purpose, enabling clarity of organizational objectives, assets alignment and momentum. Choices - Deciding where and how to compete, prioritizing which markets and customers, and which brands to focus on. Differentiation - Finding sustainable sources of competitive advantage, and how to deliver it in a compelling, imaginative and profitable way. PGray® on Marketing Peter Gray Consulting Strategic International Marketing http://www.petergrayconsulting.net/

PGray® on Professional Selling People buy solutions from people, not just products from companies. People buy from people they respect and trust so selling is more about building and managing relationships. Offering good products at competitive prices is not enough to sustain and win customers in today’s competitive markets. Today’s customers are more sophisticated and discerning and expect you to add or create value to their businesses. Concepts about selling have evolved rapidly as globalization and fast communications have produced more savvy, educated and demanding customers. Professional selling today requires collaboration, facilitation and a sense of true partnership with your customers. Professional selling reflects the broader changes in business and moves far beyond products-pushing to solution-selling embracing a clear understanding of how organizations work, their key processes, management influencing and decision making structures, their needs and wants, and problems. The 6D (Professional Selling Disciplines© ) Define - Target customers to sustain and develop, and target customers to penetrate and acquire by market, segment, attractiveness and likelihood of success. Diagnose - Specific customer processes, key stakeholders and decision makers, needs and wants and problems. Differentiate - Products and services that add or create value and gains by addressing specific customer needs, wants, and problems. Demonstrate - Specific customer value and gains in tangible strategic, financial and personal relationship terms. Deliver - A well prepared and professional customer focused presentation to all key stakeholders and decision makers. Document - Successes to share with prospects and colleagues using ACT ® Contact and Customer management. Peter Gray Consulting Strategic International Marketing http://www.petergrayconsulting.net/

International Marketing Lecture

by guest93c7b67 on Jun 29, 2009

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