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Book chapter
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Reference no. BEP0062
Chapter from: "Grow by Focusing on What Matters: Competitive Strategy in 3 Circles"
Published by: Business Expert Press
Published in: 2011

Abstract

This chapter is excerpted from ‘Grow by Focusing on What Matters: Competitive Strategy in 3 Circles'. Chapter 4. This chapter is an in-depth study of customers in which we will deeply explore the value customers seek and how existing competitors get credit for the value they create. One lesson from this chapter is that when you ask the right questions of customers, the insights that emerge are almost always actionable for growth. From the customer’s perspective, value is essentially what one gets relative to what one gives, and growth opportunities emerge from developing a broader and deeper understanding of both numerator and denominator. Growth and competitive advantage are about effective positioning. Building effective positioning is challenging today for firms facing new and stronger competition, volatile and uncertain markets, and shifting customer desires and demands. This book details the four key strategies in the 3-Circle model facilitates speed of understanding and action by focusing attention on the most critical strategy concepts in this uncertain environment. The development of competitive strategy is difficult because there are a lot of moving parts, as well as hundreds of frameworks, that might potentially guide the effort. Executives appreciate how the 3-Circle model simplifies the integration of customer, firm, and competitor analysis to generate growth strategies. It also provides a common language and process for understanding and explaining competitive advantage and for identifying profitable growth strategy.

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Abstract

This chapter is excerpted from ‘Grow by Focusing on What Matters: Competitive Strategy in 3 Circles'. Chapter 4. This chapter is an in-depth study of customers in which we will deeply explore the value customers seek and how existing competitors get credit for the value they create. One lesson from this chapter is that when you ask the right questions of customers, the insights that emerge are almost always actionable for growth. From the customer’s perspective, value is essentially what one gets relative to what one gives, and growth opportunities emerge from developing a broader and deeper understanding of both numerator and denominator. Growth and competitive advantage are about effective positioning. Building effective positioning is challenging today for firms facing new and stronger competition, volatile and uncertain markets, and shifting customer desires and demands. This book details the four key strategies in the 3-Circle model facilitates speed of understanding and action by focusing attention on the most critical strategy concepts in this uncertain environment. The development of competitive strategy is difficult because there are a lot of moving parts, as well as hundreds of frameworks, that might potentially guide the effort. Executives appreciate how the 3-Circle model simplifies the integration of customer, firm, and competitor analysis to generate growth strategies. It also provides a common language and process for understanding and explaining competitive advantage and for identifying profitable growth strategy.

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