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Page 1: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which
Page 2: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

CREATING A WINNING STRATEGY FOR YOUR BUSINESS

PROF. DR. KURT VERWEIRE

Page 3: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School

MY IDEAS ON STRATEGY

Strategy matters: winning companies have a winning strategy

Most managers don’t know what such a winning strategy is…

… And therefore few companies exploit the power of strategy

3 Formulating Winning Business Strategies

Page 4: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School

WHAT IS STRATEGY?

4 Formulating Winning Business Strategies

Page 5: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School

WHY IS STRATEGY SO DIFFICULT?

5 Formulating Winning Business Strategies

Ambition

• Vision (BHAGs)• Specific targets

Identity

• Core business• Fundamentalpurpose

• Values

Strategyimplemen-

tation

Strategic analysis

• Industry analysis• Marketplace trends• Environmental forecasts• Competitor analysis• Assessment of internalstrengths, weaknesses, resources

Source: Hambrick & Fredrickson (2001)

Strategy

Set of choiceson where and

how to compete

Page 6: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School

VLERICK STRATEGY FORMULATION FRAMEWORK

6 Formulating Winning Business Strategies

Competitive theme

Competitive arena

Who do we serve? What do we provide?

What is our value proposition?

What is our operating model?

Page 7: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School

DEFINING YOUR COMPETITIVE ARENA

What are our strategic customer segments? Who are our core customers? Who aren’t?

In which markets do we operate?

High end? Or low end?

Are we a specialist? Or a generalist?

7 Formulating Winning Business Strategies

http://linemotorcycle.com/2014-ducati-superbike-1199-panigale-r-review-and-specs/2014-ducati-1199-panigale-r-in-action-5/
Page 8: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School

WHAT IS OUR VALUE PROPOSITION?

The five attributes of all commercial transactions:

Product: Goods and/or services purchased

Price: Cost of goods and/or services

Access: How easy consumers obtain and usegoods

Service: What is done extra before, during, and after the sale

Connectivity: How consumers feel aboutthemselves as a result of goods and/or services

8 Formulating Winning Business Strategies

Source: Crawford & Mathews (2001)

Consumer relevancyframework

Page 9: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School

WHAT IS OUR VALUE PROPOSITION?

9 Formulating Winning Business Strategies

Level Access Connectivity Price Product Service

Consumer seeks the company

Turn my hassle into a positive experience.

Establish intimacy with me by doing something no one else can.

Be my price agent; let me trust you to make my purchases.

Inspire me with an assortment of excellent products I didn’t know about.

Provide me with a solution, take my problems away.

Consumer prefers the company

Make the whole interaction reliable and convenient for me.

Care about my needs and me.

Be fair andconsistent in your low pricing (this does not necessarily mean lowest price).

Offer continuously high-quality and well-performing products.

Educate me when I encounter a product or a situation I don’t understand.

Consumer accepts the company

Make it easy for me to find what I need.

Respect me, treat me like a human being.

Keep the prices honest; don’t jack them up or offer big savings when there are none.

Be credible in your product and service offerings.

Accommodate me; bend over backward some-times to show me you care.

Consumer underworld

Block my way, hassle me, keep me waiting, make it hard for me to get in and out.

Dehumanize me; disrespect me; ignore my needs.

Be inconsistent, unclear, or misleading in your pricing.

Offer me poor-quality merchandise and services that I can’t use.

Give me an experience I’d just as soon forget; give me a reason to tell my friends to stay away.

Page 10: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School

WHAT IS OUR VALUE PROPOSITION?

10 Formulating Winning Business Strategies

Source: Crawford & Mathews (2001) A 5-4-3-3-3 profile is optimal.

Page 11: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School

WHAT IS OUR VALUE PROPOSITION?

Product (PRO)

Price (PRI)

Access (ACC)

Service (SER)

Connectivity (CON)

11 Formulating Winning Business Strategies

Page 12: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School

WHAT IS OUR OPERATING MODEL?

12 Formulating Winning Business Strategies

Page 13: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School

COMPETITIVE THEME

13 Formulating Winning Business Strategies

Best price

Best access

Best product

Best service

Best connectivity

OperationalExcellence

ProductLeadership

Customer Intimacy

Page 14: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School

CLEAR CHOICE OR STUCK IN THE MIDDLE?

14 Formulating Winning Business Strategies

Page 15: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School Strategy Implementation & Change15

THANK YOU!

Prof. dr. Kurt Verweire

Associate Professor & Partner

Vlerick Business School

Contact me:

[email protected]

Page 16: CREATING A WINNING STRATEGY FOR YOUR/media/executive... · DEFINING YOUR COMPETITIVE ARENA What are our strategic customer segments? Who are our core customers? Who aren’t? In which

© Vlerick Business School

FEEL LIKE SOME MORE?

Essentials in Strategy (start: 7 May)

Successful Strategy Execution (start: 2 May)

Advanced Management programme (start: 24 October)

Executive MBA (start: 12 October)

Or contact us for a customised programme for your company

#experiencevlerick


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