How do you create dynamic and meaningful value for your customers, stakeholders and brand in these tough economic conditions? Strategy is as (deceptively) simple as it is complex but Strategy by definition is about winning, winning on the basis of being different in the way we create and deliver value.
So...............................................How do we do this exactly?
Well let's start off by saying there is no scientific approach for strategic formation. Strategy options emerge through astute sense making. There is no such thing as a single right response. I have been doing this "strategy thing" for a while now and I like to break things down and then build them up again from scratch. I believe the best method is to go in with a fresh, and a totally impartial mindset and see what presents itself in the research.
The strategic objectives for any organisation worth its salt should be to ultimately create, deliver and capture a uniquely superior and thereby differentiated value offering. This can be done through a 3 phased approach.
Value Exploration: This is done through a deep dive analysis of all the environmental factors both internal and external in which an organisation operates. This analysis looks at the industry as a whole and the competitors within that industry and the tangible and intangible resources, capabilities core competencies and potential competitive advantages.
Value Creation through proposed strategic actions gained from the segmentation, targeting or the process whereby we choose which segments to pursue, to improve the organisation’s chances of maximising its long-term profitability and the positioning of the customer and finally the positioning which is the unique place for our product relative to the competition in the mind of our customer.
Value Delivery through the implementation of an integrated marketing communication plan together with the tactics that will take the organisation forward.
***Remember that It is just as important for a firm to retain as much value as created. Value Captured = Value Created – Value Slippage.
If you are interested in knowing more about the 3V approach give us a shout
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