DON'T WASTE THE CRISIS OPPORTUNITY KNOCKS

The drivers of the global economy -- customers -- call for 'more' and 'better' in a world that for them is changing beyond recognition. Customers no longer tolerate substandard solutions and delivery. While your competitors bury their heads in the solace of the norm, you can stea...

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Bibliographic Details
Published in:Perspectives for Managers 2009-06 (173), p.1
Main Authors: Meehan, Seán, Jaworski, Bernie
Format: Article
Language:English
Subjects:
Competitive advantage
Customer services
Economic crisis
Guidelines
Online Access:Get full text
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Summary:The drivers of the global economy -- customers -- call for 'more' and 'better' in a world that for them is changing beyond recognition. Customers no longer tolerate substandard solutions and delivery. While your competitors bury their heads in the solace of the norm, you can steal the initiative. For management teams ready to step up to the new leadership challenges and with the ambition to shape the economy going forward, now is the time. Customers really want superior performance on the category basics, a compelling segment proposition topped off with an appealing unique selling proposition. Here are four key areas in driving sustainable competitive advantage: 1. Focus on core products and core markets and the underlying capability systems. 2. Invest more heavily than competition in market communications in core markets. 3. Bias cost reduction efforts toward non-customer value-adding expenses; invest in a fantastic customer experience. 4. Selectively align talent development with the reset strategic agenda.
ISSN:1027-7404