MARKET LEADERSHIP STRATEGIES - Innovation Management, Winning In the Customer-driven Rapidly Changing Market Place: Strategies of Market Leaders

Winning In the Customer-driven Rapidly Changing Market Place

Founder, Ten3 Business e-Coach – Inspiration and Innovation unlimited!

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	The Jazz of Innovation

"You're headed in the right direction when you realize the customer viewpoint is more important than the company viewpoint. It's more productive to learn from your customers instead of about them." ~ John Romero

New Product Development (NPD)

10 Characteristics of the Most Successful Companies

Market innovators, develop new market segments... More

Options Available To Market Leaders

Creating New Market Niches
Expanding Your Existing Market
- Finding new uses of a product
- Finding new uses of a product
- Finding more usage on each use occasion
- Targeting one of more competitors
Protecting Your Existing Market Share
- Improving your products
- Improving distribution effectiveness
- Improving your services
- Reducing costs

Competitive Strategies
Survival Strategies	Market Leadership Strategies
Incremental Innovation	Radical innovation & Venture strategies
... ► More

10 Rules for Building a Great Business

Surprise markets and competitors by introducing disruptive products... More

Corporate Culture

Strategies for Building a Growth Culture

Emphasize the future, not the past... More

Effective Innovation Process

7 Lessons from Silicon Valley Firms

Produce top quality at lightning speed... More

The 22 Immutable Laws of Marketing
The Law of the Leadership	It's better to be the first than it is to be better.
... More

5 Strategic Questions

You Should Ask to Understand Where Your Business Is Going

By: Jack Welch

In the last three years, what have your competitors done?... More

Inspirational Leadership

10 Roles

Make relentless innovation a religion... More

10 Lessons from Konosuke Matsushita

Successful Innovation

Inspirational Business Plan

Marketing Strategy: "Innovation distinguishes between a leader and a follower." – Steve Jobs... More

10 Commandments of Innovation

DOs and DON'Ts of a Successful Innovator

By: Peter Drucker

DOs

Start small – try to do one specific thing...

DON'Ts

Don't undershoot, or you will simply create an opportunity for competition... More

The Art of Innovation: 9 Truths

By: Guy Kawasaki

Jump to the next curve. Too many companies duke it out on the same curve. If they were daisy wheel printer companies, they think innovation means adding Helvetica in 24 points. Instead, they should invent laser printing. True innovation happens when a company jumps to the next curve – or better still, invents the next curve, so set your goals high... More

Why Should You Strive To Become a Market Leader?

Excerpts from The 22 Immutable Laws of Marketing, Al Ries, Jack Trout and Paul Temporal

It's better to be the first than it is to be better.

Blue Ocean vs. Red Ocean Strategy

Being first in any category is going to give you the edge – being the leader comes from being first. It's much easier to get into the mind of consumers first than try to convince people you have a better product or service than the one that did get there first. Improvements are always made to product/service inventions and innovations but the first in has a head start. Once you are the leader, a position mostly gained by being first, it is pretty hard for competitors to dislodge you, as long as you keep your products up to date and of comparable quality.

Further, the first in to the market has the opportunity to have its brand name adopted as the generic category name. Once you are first and get the consumers to buy your brand, often they won't bother to switch. People tend to stick with what they've got.

What It Takes To Become a Market Leader?

The market leader is dominant in its industry and has substantial market share. If you want to lead the market, you must be the industry leader in establishing an innovation-friendly organization, developing new business models and new products or services. You must be on the cutting edge of new technologies and innovative business processes. Your customer value proposition must offer a superior solution to a customers' problem, and your product must be well differentiated.

8 Best Practices of Successful Companies

Steve Jobs' 12 Rules of Success

Strive to become a market leader. Own and control the primary technology in everything you do. If there's a better technology available, use it no matter if anyone else is not using it. Be the first, and make it an industry standard.... More

Case in Point GE: Lessons from Jack Welch

"When you're number four or five in a market, when number one sneezes, you get pneumonia. When you're number one, you control your destiny. The number fours keep merging; they have difficult times. That's not the same if you're number four, and that's your only businesses. Then you have to find strategic ways to get stronger," says Jack Welch, the legendary former CEO of GE.

25 Lessons from Jack Welch

"Evolve a game plan, a business strategy "number one, number two," advises Jack Welch. Build on what the company does best. Have a Unique Selling Proposition based on giving customers value that competitors cannot equal or surpass. Become more concrete, more focused. In business, the strong survive, the weak do not. The big, fast ones get to play, the small, slow ones are left behind. There is a competitive advantage of being the best – or the second best – that can, and should, be exploited. Winners and market leaders will be those who insist upon being the number one or number two fastest, leanest, lower-cost, world-wide producers of quality goods or services and those who have a clear technological edge or a clear competitive advantage in their chosen niche.

Set Stretch Goals

4 Entrepreneurial Strategies

By: Peter Drucker

Being "the Fastest and the Mostest" – the "greatest gamble", aiming from the beginning at permanent leadership... More

Entrepreneurial Leader: 4 Specific Attributes

Blue Ocean Strategy: 6 Principles

Blue ocean strategy is about revolutionary value innovation.

The six principles drive the successful formulation and execution of Blue Ocean Strategy. These principles attenuate the six risks... More

Case in Point 7-Part Competitive Strategy of Microsoft

Although Bill Gates, Founder of Microsoft, built his empire on technological products, his business mastery is even more important than his technical skills, and his competitive urge is a huge driving force.

The early success of Microsoft was founded on the company's 7-part competitive strategy... More

Venture Strategies

The most successful companies are those that have developed aggressive venture strategies and have made ventures critical components of their strategic and operating success. In ventures, large and midsized companies can discover a source of growth they are striving to achieve. New business creation has become central to achieving strategic and financial objectives of market champions... More

10 Commandments of Innovation

Case in Point Toshiba

Toshiba’s approach is to develop strategic alliances with different partners for different technologies because a single company cannot dominate any technology or business by itself... More

Fast Company

In the new economy where everything is moving faster and it's only going to get faster, the new mantra is, "Do it more with less and do it faster".³... More

Case in Point Google: 10 Golden Rules

Encourage Creativity. Google engineers can spend up to 20 percent of their time on a project of their choice. There is, of course, an approval process and some oversight, but basically we want to allow creative people to be creative. One of our not-so-secret weapons is our ideas mailing list: a companywide suggestion box where people can post ideas ranging from parking procedures to the next killer app. The software allows for everyone to comment on and rate ideas, permitting the best ideas to percolate to the top... More

New Business Models

Traditional corporations, using old business models, are overstructured, overcontrolled, and overmanaged, but underled. Top managers should rather concentrate on that handful of real managerial leadership tasks that will bring success in the future.

Thus, a new business model is emerging, a model where "most of key missions of the organization are distributed to the myriad individual pieces and unity comes from the vigor of people and the free flow of knowledge, not a burdensome central headquarters."⁴... More

New Business Models

Building Your Sustainable Competitive Advantage

Sustainable competitive advantage is the prolonged benefit of implementing some unique value-creating strategy based on unique combination of internal organizational resources and capabilities that cannot be replicated by competitors. Sustainable competitive advantage allows the maintenance and improvement of your enterprise's competitive position in the market. It is an advantage that enables your business to survive against its competition over a long period of time... More