Published by:
MIT Sloan School of Management
Length: 8 pages
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Abstract
When Peter Drucker first proposed his ''marketing concept'' back in 1954, the notion that meeting customer needs better than your competition as the driver of business success was a radical idea. Today most managers agree that achieving sustainable profit growth requires having a clear, relevant customer promise; delivering on that promise; improving it; innovating; and supporting all of that with an organization that''s open to new ideas and market feedback. However, achieving all of this is difficult. Despite management''s tendency toward wishful thinking, the authors believe managers can come to terms with their company''s weaknesses by posing a set of five questions specifically designed to uncover their vulnerabilities. Drawing on examples from companies including Apple, Google, Procter & Gamble and Toyota, the authors explain the importance of each of these questions. ''For those who are prepared to ask the tough questions and willing to hear the answers,'' they write, ''the potential benefits to the business are significant''.
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Abstract
When Peter Drucker first proposed his ''marketing concept'' back in 1954, the notion that meeting customer needs better than your competition as the driver of business success was a radical idea. Today most managers agree that achieving sustainable profit growth requires having a clear, relevant customer promise; delivering on that promise; improving it; innovating; and supporting all of that with an organization that''s open to new ideas and market feedback. However, achieving all of this is difficult. Despite management''s tendency toward wishful thinking, the authors believe managers can come to terms with their company''s weaknesses by posing a set of five questions specifically designed to uncover their vulnerabilities. Drawing on examples from companies including Apple, Google, Procter & Gamble and Toyota, the authors explain the importance of each of these questions. ''For those who are prepared to ask the tough questions and willing to hear the answers,'' they write, ''the potential benefits to the business are significant''.