Strategy from the Outside In: Profiting from Customer Value

by Day, George; Moorman, Christine

• ISBN13: 9780071742290
• ISBN10: 0071742298
• Edition: 1st
• Format: Hardcover
• Copyright: 2010-07-23
• Publisher: McGraw Hill

Summary

Shareholder value . . . core competence . . .six sigma . . . right sizing . . . These influential strategy ideas have lured many companies into a dangerous internal focus, viewing the world from the inside out. As a result, companies lose sight of the market, which leads to poorresults over the long run. Inside-out thinking distracts companies from the core purpose of a business: to create and serve customers.Fulfilling that purpose can be done only by approaching strategy from the outside in. In this refreshing look at creating enduring business value, two business school professors from The Wharton School and The Fuqua School of Business, Duke University, challenge you to shift your perspective. They demonstrate that companies that adopt--and fight to keep--an outside-in view focused on customer value have grown revenue, profit, and shareholder value through both boom and bust business cycles.Applying years of research, George S. Day and Christine Moorman illustrate that an outside-in view requires constant vigilance and focus on four customer value imperatives: Be a customer value leader Innovate new value for customers Capitalize on the customer as an asset Capitalize on the brand as an assetOnly companies that operate with an outside-in view from the C-suite to the front lines can expect to maximize and profit from customer value.Strategy from the Outside Inputs you ahead of the competition and, just as important, keeps you there. Praise forStrategy from the Outside In"Throughout P&G's long history, we have focused on the four customer value imperatives outlined in this excellent bookand are as committed to them today as ever. This is essential reading for leaders focused on making a positive difference in the world and, as a direct result, delivering growth for both the near and long term." Robert A. McDonald, Chairman, President, and CEO, The Procter & Gamble Company"Strategy from the Outside Inis thought-provoking, practical, and full of ideas on how to strengthen your company's customer value proposition." Tom Lynch, CEO, Tyco Electronics Corporation"American Express's success has rested largely on our ability to focus on our customers and adapt to their changing needs over the past 160 years.Strategy from the Outside Inis an insightful book with practical advice about how to do just that." Jud Linville, President and CEO Consumer Services, American Express"An in-depth look into the basic premise of what, in my view, makes successful business. Certainly worth reading once and then once every year to remind all of us what keeps us in business. For marketers, a great benchmark to help focus on how to add value most effectively." Geert van Kuyck, Executive Vice President and Chief Marketing Officer, Royal Philips Electronics"Sam Walton said 'there's only one boss--the customer'. At Walmart we try to stay focused on that every day. But how?Strategy from the Outside Inprovides a blueprint for how to build a trusted brand based on consistently providing superior value to customers." Stephen Quinn, Chief Marketing Officer, Walmart"Getting your company to organize around what customers value most sounds easy in theory, but it's very hard to do consistently well. Day and Moorman provide a thoughtful, realistic, and actionable blueprint for delivering the most value to your most valuable customers." Beth Comstock, Chief Marketing Officer, GE"Only a few books can really help marketing professionals make a difference in their organization.Strategy from the Outside Infalls into this category. Creating superior customer value is or should be a priority of all marketers. Here, Day and Moorman provide a clear path for delivering on such value. Most important, their work

Author Biography

George S. Day is the Geoffrey T. Boisi Professor and co-director of the Mack Center for Technological Innovation at The Wharton School, University of Pennsylvania. Chairman of the Board for the American Marketing Association and former Executive Director of the Marketing Science Institute, he has been a consultant to GE, IBM, Metropolitan Life, Marriott, and other corporations. His books include Peripheral Vision, Wharton on Managing Emerging Technologies, and The Market Driven Organization.
Christine Moorman is the T. Austin Finch, Sr. Professor and founder and director of The CMO Survey (www.cmosurvey.org) at The Fuqua School of Business, Duke University. Former member of the Board of Directors of the American Marketing Association and Trustee for the Marketing Science Institution, she coedited the book Assessing Marketing Strategy Performance, authored more than 60 journal articles, reports, and conference proceedings, and speaks at universities around the world.

Table of Contents

Seeing Outside In: Shifting Your Perspective	p. 1
Strategy from the Outside In	p. 3
Profiting from Customer Value	p. 23
Operating Outside In: The Four Customer Value Imperatives	p. 43
The First Imperative: Be a Customer Value Leader	p. 45
Becoming a Customer Value Leader	p. 65
The Second Imperative: Innovate New Value for Customers	p. 89
Innovating New Value for Customer	p. 107
The Third Imperative: Capitalize in the Customer as an Asset	p. 127
Capitalizing on the customer as an Asset	p. 145
The Fourth Imperative: Capitalize on the Brand as an Asset	p. 167
Capitalizing on the Brand as an Asset	p. 189
Living Outside In: Bringing It All Together	p. 209
Market Insights and the Customer Value Imperatives	p. 211
Organizing to Compete on the Customer Value Imperatives	p. 231
Leading for Customer Value	p. 253
Conclusion	p. 273
Notes	p. 279
Acknowledgments	p. 305
Index	p. 307
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