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Organizational Innovations for Modern Enterprise

18   Defining the Marketplace


COMPARE The Old Way The New Way

The market is an ocean of consumers.

The market is a mosaic of customers.

Objective To provide companies with an inspiring yet easily understandable vision of what happens after the sale. To provide companies with an accurate understanding of the process they need to win new customers and keep existing ones loyal.  
Method High volume production of generic, "one size fits all" products and services for mass market appeal. This company’s interest in "consumers" ends when...
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Low volume production of customized products and services for micro-market saturation. This company’s interest in customers is never ending, and...
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Reasoning
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Customer Outcome
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Market Outcome
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Competitive Outcome
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Result
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How we perceive our markets and our positions in them; can colour our thinking or even blind us. That's why it always pays to have clear vision.
... Chapter 18 Excerpt: 'Defining the Marketplace'
 
The perceptions we hold direct the ways in which we act. Our actions in turn bring reactions, which further shape our perceptions. How companies perceive their markets and their mission within them, will therefore ultimately determine how they succeed, and how they fail in those markets.
 
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