Customer Value – Developing an Outside In Strategy

This is a transcription of the Business901 podcast, Outside in Strategy– Customer Value with Christine Moorman. She is the co-author of the book (Amazon Link) Strategy from the Outside In: Profiting from Customer Value.

Outside in Strategy– Customer Value ebook

Excerpt from the transcription:

The other point is the fact that we try to make clear, which is I know something really important to executives is that the world just keeps changing from underneath you that you have this position of value. And as soon as the competitor comes in, they teach the consumer something new and their perception of what’s valuable or not valuable starts the shift. Maybe also that competitor takes the position that’s more attractive on that particular value than you’ve been able to achieve.

So, it’s a case in managing this position of customer value leadership that is really being very vigilant, staying in touch with what’s going on in the market, what are competitors doing. More importantly, how customers see those competitors and what they’re doing. Do they see them as taking that position that’s greater than yours?

That’s a very important aspect of this outside in mentality, and profiting from customer value that a lot of companies aren’t willing to do over time, to really take seriously that we are going to have to monitor the market, monitor what customers are thinking on a continuous basis, and find a way that makes sense of that so that we know how to move at which direction, at what time, in response to what’s happening out there.

Christine Moorman is the T. Austin Finch, Sr. Professor and founder of The CMO Survey at The Fuqua School of Business, Duke University. Professor Moorman is the author of over 60 journal articles, reports, and conference proceedings.

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