The Race To Market

The Race to Market Are you ever 3 steps ahead of your competition? Are you ever 3 steps behind your competition? Does the best price always win? Does the best delivery always win? Do you customize to often? Are you customer demands unrealistic? Do you lose jobs because competition makes unrealistic promises? Can you afford distribution? Can you not afford distribution? Is your product compared to others as a commodity? Are you truly giving your customers exceptional service? Are you making a living or building a business? Are you making the ROI that you should be?

The Race to Market The Old Strategy: 1. Compete in Existing Market Space 2. Beat the competition. 3. Exploit existing demand 4. Make the value/cost trade off (create greater value to customers at a higher cost or create reasonable value at a lower cost) 5. Align Company’s activities to differentiation or low cost. ,[object Object],[object Object]

The Race to Market The Old Strategy: 1. Build a better product. 2. Build it faster than others. 3. Build it cheaper than others.

The Race to Market How do you do it? 1. Six Sigma 2. GE Workout 3. Lean Manufacturing 4. Benchmarking 5. Execution 6. Balance Scorecard 7. Theory of Constraints 8. Business Process Improvement 9. TQM, MRP, ZZZ, etc.

The Race to Market The New Strategy: 1. Create uncontested market space 2. Make competition irrelevant. 3. Create and capture demand Focus on non-customers Create and capture new demand 4. Break the value/cost trade off Seek greater value to customers and low cost simultaneously 5. Align Company’s activities of both differentiation and low cost. ,[object Object],[object Object]

The Race to Market We need to position a product so that it is without competition? And to do that: 1. It must provides a simple solution 2. Can be easily utilized/operated 3. Can be easily supplied 4. Can be supplemented with additional products? 5. Priced for the masses

The Race to Market ,[object Object],[object Object],[object Object],[object Object],[object Object],Keep it simple, don’t complicate

The Race to Market References BLUE OCEAN STRATEGY How to Create Uncontested Market Space and Make the Competition Irrelevant By W. Chan Kim and Renée Mauborgne Mastering the Complex Sale: How to Compete and Win When the Stakes are High! By Jeff Thull The Prime Solution Close the Value Gap, Increase Margins, and Win the Complex Sale by Jeff Thull

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The Race To Market

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The Race To Market