It is easy to become immobilised by the volume and complexity of information about these subject matters. Don’t be. What is important is how you can use data analytics to achieve real results for your business. This is what we suggest is important.
Marketing has evolved over the decades. The power has shifted from the company to the consumer. In order to be successful we need to adopt a customer-oriented approach.
Three years after the book, Blue Ocean Strategy was published, Indian motor car maker, Tata Group, pulled the same trick as Henry Ford. In 2008, they launched a $2,500 ultra-cheap four-wheel car for the masses of Indians who were used to getting around on two. Now the “People’s Car” is set to flip the entire auto industry on its head.
Qantas created Jetstar to challenge Virgin’s low cost airline. It continues to run Qantas. You can choose to be full service or you can choose to be low-cost, but you cannot choose to be both without major inefficiencies.
“Market oriented companies achieve superior performance.” So what does it mean to be market oriented?
“Marketing battles are fought in a mean and ugly place. A place that’s dark and damp with much unexplored territory and deep pitfalls to trap the unwary. Marketing battles are fought inside the mind.” Review and Synopsis of best-selling book by Al Ries and Jack Trout, Marketing Warfare, 1986, McGraw-Hill Inc.
All systems die. It’s an immutable law of nature. Buddhists call it the Law of Impermanence, Scientists call it Entropy. This is why defining a business as existing to create only one particular product is dangerous. Better to focus on the problem you are solving generally.
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