It is becoming much harder for businesses in India to meet their growth aspirations in spite of continued real GDP growth, though somewhat volatile, of 6.5% to 8%. They are struggling to cope with many sources of disruption like changing expectations, behaviour and values of consumers shaped by changing consumer demographics, lifestyles, supplier activity, and environment. As supply choices explode and many totally new products and services emerge, what happens in one category is re-shaping consumer expectations in other categories as well. Regulatory changes are having frequent and far reaching impact on products, distribution, pricing, customer service norms, etc., reshaping competitive advantage in a big way. There is a lot of competitive disruption too ranging from ‘old game’ new entrants to ‘game changing small upstart new age companies’ who use technology innovatively to create new kinds of business models offering discontinuously better value to customers.
This environment is proving very stressful for companies and forcing them to think seriously about their business market game, i.e., where in the market they are best off playing with what intensity and a carefully crafted way of how they will play to win in different segments/market and/or against different forms of competition. Companies who do not have a clear business-market game end up with a business which has no strategic coherence with increased cost of complexity as they respond to every disruption individually and “follow the market”. Also are in trouble those companies who have a clear business-market game but who define their markets in a supply sided way as a collection of current and future products/technologies/competitors and not in terms of customers’ needs, perceptions and what they value. They end up having to change their business market game frequently as competitive activity increases. Thus competing within a product or service category is becoming obsolete when customers have many more radically different options from very different types of suppliers to satisfy their needs.
In order to do well in this environment , companies need to craft their business strategy in a customer centred way with the philosophy that “The heart of strategy is not about beating the competitor but about creating value for the customer” (Kenichi Ohmae) and we add "and by creating value for the customer, generate wealth for the business.”
Such a strategy has to have at the "front end" a business market strategy that defines exactly what game the company will play in the market in order to win, and “at the back end” how it will align the rest of its activities to play this game. This course is designed to:
Enable companies to read all external changes (including environmental and competitive), assess how these will impact customers and in turn how they all will shape the business strategy
Understand customer centricity and embed it into the strategy development process itself and not just into the downstream functional marketing and sales activity of executing the strategy in the market
Provide with frameworks, tools and methodologies to include the customer in whatever strategy development process the company uses
Clarity across business domains about frequently used but fuzzy ideas like customer’s role in business strategy, value proposition, market segment and competitive advantage
Understanding 'disruption' and increased competition in terms of changes in customer behaviour, customer-demand structure and implications for your business
Understanding business-market game, its link to business strategy and frameworks, tools and methodologies for developing a company's businessmarket game
Customer Based Business Strategy framework, its advantages and how is it different from other supply side or microeconomic strategy development frameworks
How can customer centricity be embedded into business strategy frameworks
• CXOs and CMOs, who participate at senior levels in driving the strategy and business planning exercises
• Heads of business units
In B2B as well as B2C organizations. They would benefit more from the programme by sponsoring a team of top and senior executives.
Faculty presentations designed for active participant discussions will anchor the programme
Case study discussions will form the backbone of the learning
Group work by Participants where they apply the concepts and frameworks, etc., in the current context with active peer learning and critique and support by faculty.