http://www.bized.co.uk Asset-Led• An asset-led business aims to use the core-competence of a business in developing new products and services• Those assets may be human, physical or intangible assets Copyright 2006 – Biz/ed
http://www.bized.co.uk Strengths of the Business• Physical Assets – Distribution – Manufacturing base – Global reach• Intangible Assets – Brand name – Image – Personnel• Core Competence – what the business sees itself as being ‘good at’ Copyright 2006 – Biz/ed
http://www.bized.co.uk Market-Led• A market–led business has its focus purely on the needs of the customer• The business is highly responsive to the needs of consumers – it has a focus on market research as a means of identifying those needs Copyright 2006 – Biz/ed
http://www.bized.co.uk Market-Led• Basic principles: – The customer is king! – Customer service is paramount – Needs of consumers uppermost in new product development – Customer servility – being a ‘slave’ to the customer – Do not contemplate the cost of doing something to meet customer needs, contemplate the cost of not doing it! Copyright 2006 – Biz/ed
http://www.bized.co.uk Building Relationships• Importance of building relationships to meet customers’ needs and expectations• Suppliers – good relationship with suppliers means that goods are available when the consumer needs them and that the business is able to respond flexibly to change• Customers – knowing who your customers are, what their needs are and how the market is changing Copyright 2006 – Biz/ed
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