Making of Market Leaders - An Introduction
Present times are exciting for the rules of business in every sphere are being rewritten. Technology and advancement in all fields of knowledge along with globalization, internet and communication revolution has changed the way we live, work as well as do business.
Businesses are no longer what they used to be. Every sphere of business from R&D, Product and Service offering, production as well as marketing and Management styles have changed. Technology has become a major enabler for Companies to conduct their operations and business.
As a management student, if you scan the Companies and Organizations that are Global Companies that are have existed and are continuing to grow for the past few decades, you will naturally wonder as to what has made these Companies such global business giants.
Companies like Xerox, GE, IBM, HP, Sony, Nike, Samsung, Toshiba etc are global brands that you will find in every country and every market.
These global brands have successfully dominated the markets and maintained their leadership and built unbelievable brand loyalty despite severe and intense competition and shorter product life cycles.
From a management perspective it is very interesting to understand what made these organizations so successful both as organization as well as brand leaders. Management experts talk about organizational culture, values, vision and leadership as the contributing factors that drive and grow these organizations. While this view is quite true, making of brand leader has got to do with more than these Management and Organizational value system. What is it that gives these Companies the cutting edge?. What is it that makes these Organizations continue to maintain and grow their leadership in the face of challenges from competitors and technology and other factors that change the consumer behavior and needs?. How do these Organizations manage to keep abreast in the Markets?. Answering these questions leads us to understand that these Organizations have adopted the right marketing discipline besides embracing the Organizational culture and values to drive the business.
The global market leaders or brand leaders stand apart from the rest through value differentiation that they deliver to their customers. Such Organizations continually strive to achieve excellence in their chosen product or service and ensure that they are ahead of the Customer expectations all the time. This is possible only when the Organization or the management embraces a clear cut marketing strategy and strives to build excellence in the chosen market delivery system.
What is it that makes people lifelong customers of Apple or IBM and not move away to other products that are economical?. What makes IKEA and Wall Mart, the worlds best places for customers to shop despite several other companies offering similar range of products?. What does Mc Donald do that makes people all over the world flock to their outlets all the time?.
These companies have chosen to identify and follow chosen set of marketing rules and concentrated on offering continually unique value proposition and created a niche for themselves in the market. Finding the right value proposition that is unique and continuing to strive towards maintaining excellence in its value proposition as well as ensuring that it is able to foresee the emerging trends in the environment as well as being sensitive to the customer and being able to anticipate their needs and using all of these variables to augment the value delivery proposition calls for Marketing strategy and Discipline that sets these Companies apart from the rest.
Study of organizations from the marketing strategy and leadership perspective makes for very interesting and useful study for all management students.
- Brand Leadership - Building Blocks
- Key to Brand Leadership and Growth
- What is Value Proposition ?
- Defining Value Proposition
- Product Value Proposition and BPR
Authorship/Referencing - About the Author(s)
The article is Written By Prachi Juneja and Reviewed By Management Study Guide Content Team. MSG Content Team comprises experienced Faculty Member, Professionals and Subject Matter Experts. We are a ISO 2001:2015 Certified Education Provider. To Know more, click on About Us. The use of this material is free for learning and education purpose. Please reference authorship of content used, including link(s) to ManagementStudyGuide.com and the content page url.