eight ways to grow
TRANSCRIPT
OUTLINE
I. Building your market share
II. Developing Committed Customers & Stakeholders
III. Developing Powerful Brand
IV. Innovating New products, Services, Experiences
V. International Expansion
VI. Mergers, Acquisitions, Alliances, JV’s
VII. Outstanding Reputation for Social Responsibility
VIII. Partnering with Government & NGO’s
IX. References
X. Amazing Quotes
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BUILDING YOUR MARKET SHARE
1. Search for Highest efficiency and lowest price a) Reduce number versions, of productsb) Use standards in volume activities to reduce waste and costc) Switch to lower cost supplierd) Get rid of losing branches e) Pay per performance basisf) Use cheaper technological channelsg) Shift promotions social media and Digital DOOHh) Remove features that the customer don’t value and adjust pricei) Use virtual web conferencing to reduce cost of travel/relocation
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OutlineI. Building your market
shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
BUILDING YOUR MARKET SHARE (CONT’D)
2. Prepare an analysis of SWOTa) Strength & Weakness (Performance versus Importance)
i. Marketing ii. Finance iii. Manufacturingiv. Organization
b) Opportunity & Threati. Early Warning systemsii. Scenario planning
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OutlineI. Building your market
shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
BUILDING YOUR MARKET SHARE (CONT’D)
3. Improve your financial and marketing strength
4. Reassess your marketing mix and profile (High performance companies have stronger Marketing culture than low performing.)
a) Reassess marketing segments and customersi. Use multiple segments, change with time approachii. Measure profitability per segment/customer/locationiii. Continue measuring the customer lifetime valueiv. Consider different customers segments and reassess promotion mix
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Company Status Strong Stable Co. Struggling Co. Failing Co.
Finance Strong Strong Weak Weak
Marketing Strong Weak Strong Weak
Action performed
Buy competitors,assets, increase marketing expenditure
Build stronger marketing team, acquire some strong brands
Generate new cash by slashing overhead, renegotiate, process improvement
Close down and salvage what you can
OutlineI. Building your market
shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
BUILDING YOUR MARKET SHARE (CONT’D)
5. Develop winning market share strategiesa) Too many fishermen and not enough fish in the marketb) Either to eat lunch or be lunchc) Identify the competitors
i. Good Competition are a blessing ii. “Don’t go after that competitor” cause he wouldn’t let you win of his
share just go after the competitor who is doing badiii. Watch out for emerging/silent competitorsiv. Outperform your competition with better service valued by the customer
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OutlineI. Building your market
shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
“time spent in reconnaissance is seldom wasted” (Sun Tzu, philosopher)
DEVELOPING COMMITTED CUSTOMERS & STAKEHOLDERS
1. Which customers and which needs do you want to satisfyi. Target market ii. Value, proposition, customer insights,
2. What are the stages that a customer may undergoi. Satisfied>> all the way to >> Owner of the productii. How retain with loyalty programs
3. How to improve your employee impact on your customer satisfactioni. Turn all your employees to Company Ambassadors rather than Seat Fillers
4. What can we do to improve our other stakeholder performancei. All Stakeholders are success dependent.
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OutlineI. Building your market shareII. Developing Committed
Customers & Stakeholders
III. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
DEVELOPING POWERFUL
What is brand>>> Identity, Integrity & Image1. A Strong brand increase company’s growth potential
2. Is it true everything be branded? “Yes”
3. What are the Elements making company’s brand Name Logo (design) Slogan Other Elements
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful
BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
DEVELOPING POWERFUL (CONT’D)
4. What are the characteristics of strong brand• Presence >> Relevance >> Performance >> Advantage >> Bonding
5. What are the main tools for building a brand
6. What do you need to do before losing your brand meaning Line Extension Brand Extension
7. Can you capitalize on the brand equity
8. How did the digital media impact of brand• Engage the customer in creating the brand (co-create & crowdsourcing)
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful
BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
INNOVATING NEW PRODUCTS, SERVICES, EXPERIENCES
1. Why do you need Innovation? “The risk of not innovating is greater than the risk of innovating” Sony
President, Masahiro Fujita
2. Can you assess your company’s level of Innovation?a) How?b) Why?
3. Implanting more innovative thinkers in your company?a) First start with your CEO, it is has to come as role modelb) Train an internal staff with creative techniquesc) Bringing new employees with more creative profiled) Give employees a periodic opportunity to deliver idease) Outsource creativity to other organization if needed
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New
products, Services, Experiences
V. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
INNOVATING NEW PRODUCTS, SERVICES, EXPERIENCES (CONT’D)
4. What are the sources of good innovative ideas?i. Internal teams (Marketing research Dep, R&D personnel, Sales, employees,
Business development)ii. External contributors (Customers, Distributors, Competitors, Suppliers,
Government, NGO’s)iii. You need to draw more ideas from existing/new customersiv. Technology can bring another source of ideas/opportunities
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New
products, Services, Experiences
V. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
INNOVATING NEW PRODUCTS, SERVICES, EXPERIENCES (CONT’D)
5. What to make innovation continuous working process?a) Stage Gate
i. Generation>>Screening>>Develop>>Test>>Market>>Analyze>> Produce>>Commercialize>>Acceptance >>Generation>>Screening>>Develop>>Test>>Market>>Analyze>> Produce>>Commercialize>>Acceptance
b) A to F Processi. Activator, Browser, Creator, Developer, Executor, Facilitator
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New
products, Services, Experiences
V. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
INNOVATING NEW PRODUCTS, SERVICES, EXPERIENCES (CONT’D)
6. What tools can your company use to find better growth ideas?
7. How can you raise the money to fund the innovation work and play for the launch?
a) Investor Angelsb) Crowdfunding (Kickstarter.com)
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New
products, Services, Experiences
V. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
Innovation should never stop despite the fact that many of them will not make it to the top/higher
revenue every time.
INTERNATIONAL EXPANSION
1. Can your company engage in Foreign direct Investment in new markets?
2. Does your Company need to Export to other market? Why?a) Why go abroad?
i. You will be attacked by foreign firms in your current marketii. The chances to earn higher profits abroad is very likely iii. It is also possible to achieve scale economyiv. You can hedge your risk of operating only in one marketv. May be your customers need your service abroad? Wouldn’t you go?vi. Work around your fears and address them
b) Where is the growth occurring in the world?i. Aim for the high growth countries within your industry business
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
INTERNATIONAL EXPANSION (CONT’D)
c) What do you need to asses to conduct foreign trade?i. Will the foreign buyer accept the current product/serviceii. Should the company build or outsource, supervise and monitor?iii. Should the company set the price at a low leveliv. What distributors or agents should the company hire?v. What logistics should you engage?
d) Characteristics of successful companies abroadi. Always seeking higher profitability opportunitiesii. Study the market carefully, tailor service/product accordinglyiii. Rely on independent studies / research, get area consultantsiv. Assign enough funds to achieve adequate targets/objectives.v. BRIC (Brazil, Russia, India & China)
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
, ALLIANCES, JV’S1. What are the benefits of acquiring, merging, allying, or joint venturing,?
a) Why Acquire or Merge (Friendly or hostile Takeover)i. Increase sales, revenue, Enter a new business / marketii. Increase its ownership of supply, efficiency and reduce redundancyiii. Increase its economy of scale, Enlarge its brand portfolioiv. Increase its profit by opportunistically buying profitable companies
b) What is the success rate of acquisition been? (Only 17% of the time)c) Why do many acquisitions go sour?
i. The acquirer is focused more on the opportunities instead of the challenges during the courtship period
ii. The Acquired firm low morale aspect, feeling of working for two bossesiii. The acquiring company learns that it paid too much for acquisition
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
, ALLIANCES, JV’S (CONT’D)
2. How to find the right company to acquire or with which to merge?a) Check the customers, suppliers, no hidden indebtedness, responsibilities,
commitments.b) Many top employees flee to another secure jobs
3. What are the major problems in the process of acquiring a company?a) Government intervention and obstruction of dealb) Change in the acquired company
4. What to consider in alliances and joint ventures?a) A strategic Allianceb) A joint Venture
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
OUTSTANDING REPUTATION FOR
1. Can strong corporate social responsibility (CSR) contribute to company growth?a) Company performance based on (Brand, Good Product/service, Reputation)b) Aspect increase reputationc) Benefits of social responsible companies
i. Increased sales and market shareii. Strengthened brand and positioning iii. Enhanced corporate image iv. Attract, motivate and retain employeesv. Decrease operating costvi. Increased appeal to investors and financial analyst
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation
for Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
OUTSTANDING REPUTATION FOR (CONT’D)
2. The major social areas that a company can supporta) Top responsibilities
i. Ensuring health and safety of productsii. Preserving the environmentiii. Treating employees fairly
b) Can be used in Cause Promotions, marketingc) Workforce Volunteeringd) Social responsible business practices
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation
for Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
OUTSTANDING REPUTATION FOR (CONT’D)
3. How can your company communicate its values and social responsibility?a) Newspaper, magazines ads, 30 sec commercialb) Billboard, Web page,c) Digital media links Facebook, Twitter, YouTube
4. It is hard to measure its Company Social Responsibility impact on organizational sales /growth
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation
for Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
PARTNERING WITH GOVERNMENT & NGO’S
1. What roles can government play that are good for business and the economy? Infrastructure, Defense, Education, Safety and Health, Emergency, Directive
Roles
2. How can businesses wok better with government and NGO’s?
3. Public-Private Partnership (highways, ports, airports, urban rapid transit, bridges)
4. Shopping centers, housing development,
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
PARTNERING WITH GOVERNMENT & NGO’S
5. NGO’s, non profit hospitals, private schools, colleges,
6. When does government become more of a damper than an accelerator of economic growth? Regulations, higher taxes, cost of uncertainty,
7. How can national governments collaborate better for mutual benefit?
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
REFERENCES
Kotler, Philip and Milton Kotler, Market your way to growth 8 ways to win. Hoboken, New Jersey: John Wiley & Sons, Inc., 2013.
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OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes
AMAZING QUOTES ABOUT THE CUSTOMER- “A customer who complain is my best friend” (Stew Leonard).
- “The customer is the only one who can fire us all” (Sam Walton)
- “The best way to hold your customers is to constantly figure out how to give them more for less” (Jack Welch)
- “You’ve got a new boss… the customer. If you’re not thinking about your customer, you ‘re not thinking” (anonymous)
- “Never underestimate the power of the irate customer” (Joel E. Ross and Michael J. Kami)
- “Make a customer, not a sale” (Katherine Barchetti)
- “Every client you keep, is one less that you need to find” (Niger Sanders)
- “The purpose of a business is to create a customer who creates customers” (Sriv Singh)
- “Good customer Service costs less than bad customer service” (Sally Gronow)
- “The best companies don’t create customers; they create fans” (Ken Blanchard)
- “Always try to satisfy the toughest customers; then it will be easy to satisfy the rest” (Anonymous)
- “If you can’t smile, don’t open a store” (Chinese proverb)30
OutlineI. Building your market shareII. Developing Committed
Customers & StakeholdersIII. Developing Powerful BrandIV. Innovating New products,
Services, ExperiencesV. International ExpansionVI. Mergers, Acquisitions,
Alliances, JV’sVII. Outstanding Reputation for
Social ResponsibilityVIII. Partnering with
Government & NGO’sIX. ReferencesX. Amazing Quotes