Solution driven marketing can reshape a firm’s view from product or money focus to customer-needs’ focus. Solution driven marketing applies to every organization—profit, and not for profit. A key challenge is to change customers’ wants to valuable needs. In the long run, this will provide significant value to the firm, too.
Solution driven marketing has four distinct parts
Solution driven marketing changes wants to needs
First, the firm develops solutions or benefits based on its view of customers’ current or future wants or needs. To begin, the firm must learn about its customers and their wants and needs. It does this by highly targeted market research, and in focus groups.
The process starts with a clear vision and mission to define what the firm wants to be, and what it plans to do. The mission will appeal to certain groups only, not to everyone. Hence, the firm must decide the best approach to present its proposed solutions and benefits to help current and potential customers.
In solution driven marketing, the business does not “push” its services or products. Instead, it offers benefits, opportunities, and solutions it expects customers will find helpful. Look at Amazon, for example. It creates benefits for people to stay at home to shop for their wants and needs. As well, it tries to change people’s wants to perceived needs. (more…)
Are university or college students customers of their institutions (subsequent references to college include university)? I am not referring to a student-as-customer’s movement that attempts to hike revenues by lowering standards and pandering students. That approach merely compromises the college’s mission, vision, and values while enabling entitlement-minded students. I disagree with it. Instead, I refer to a special partnership that exists between a college, delivering its vision and mission, and college students, who do their best in the educational infrastructure that’s provided.
To answer the student-as-customers question properly, it’s crucial we understand essential traits of a customer, and the basic features of a business. That’s why I address the important customer and business relationship in such detail early in the paper. Meanwhile, ninety-one percent of respondents to my survey (Bell, 2016) asking the captioned, said a college’s administration should treat college students as customers. Eighty-four percent said professors should be sensitive and responsive to students’ particular needs.
In this paper, I examine these areas:
The customer and business exchange
Anatomy of good customer relationships
What the best college teachers do
Perceptions of college students’ role as customers
Treat college students as customers but don’t compromise values and standards
A positive brand perception is an important goal of many successful organizations. They understand that their brands are emotional links with customers. The deeper the link, the stronger the brand perception.
Brands are belief systems, not marketing tools. Many people think of the logo as the brand. However, the logo merely is the image that conjures up the brand perception.
The brand perception is in the person’s mind and evokes specifics such as quality, price, service. It is the business’ brand identity. To many people, the Apple brand means high quality, excellent packaging, and great service. Walmart’s brand conveys everyday low prices, and Costco’s brand brings to mind retail shopping at wholesale prices.
People pay extra for products or services when they identify with a firm’s brand. That’s why businesses spend significant time and resources developing and growing the right brand perception or brand identity. It’s counterintuitive to think anyone would pay to be a member of a firm to shop at that firm? Yet, membership fees are a major source of Costco’s continuing profitability. (more…)
Christians, don’t integrate faith and business. Don’t integrate faith and anything. Live as followers of Messiah where you are.
Business is having the right people in the right slots headed in the right direction. It is all about people. Business is the largest mission field available to Christians, at home and abroad. Besides, it is the only wealth creating entity in society. Those of us whom God calls to be in business need to behave consistently as His stewards (Colossians 3:23-24), and His disciples (Luke 14:25-34).
Don’t Integrate Faith and Business
Many Christian business leaders and pastors have not realized how much the church drifted into the world. Thus, they see a need for Christians in business to integrate their faith and business principles. Christianity is a lifestyle. However, the integration idea suggests that Christianity is not a lifestyle, but a set of principles that apply situationally. So, in church and “Christian” settings, we live as Christ followers, but in business we integrate faith with business principles.
Your decision making process is more important to a successful result than your analyses to prove the validity of a decision. That’s what research shows consistently.
How do you decide? Do you follow a predictable process or do you let your emotions or situations lead you? My research suggests we let circumstances direct us, unwittingly. That’s why I believe we are poor decision makers, generally. Even so, I think we need to follow a proven process before we decide matters in our private lives and in business. Therefore, let’s see what we can learn from three large, bad decisions.
Decisions Influenced By Today
First, in January 1, 1962, four youths in a rock-and-roll band auditioned for a major British record label, Decca Records. Later they got a letter from Decca saying: “We don’t like your sound; groups are out; four-piece groups with guitars, particularly, are finished.” Decca missed out on signing the Beetles!
Why did Decca miss this chance to sign one of the best groups in history? They assumed the future would resemble the present. Therefore, they concluded that since four piece groups were not in vogue then, four piece groups would not be popular in the future. And so, they extended the present to the future. (more…)
Applying effective stewardship in business is key to its success. What does stewardship mean today for businesses? Since the Great Recession, executives are more aware of their trust roles. These days, there is greater protection for shareholders. But we have a long way to go before effective stewardship is widespread in businesses.
What Does Stewardship in Business Mean Today
What is stewardship? Stewardship is acting as a steward. Who is a steward? A steward is someonewhogets responsibility and authority from an owner to look after the owner’s property in the owner’s best interest.
What does stewardship mean today for businesses? This will vary from firm to firm. These days, many boards of directors and executives see the need to be more accountable. They see this partly because of new government rules. However, executives know the cost of poor stewardship is huge. It hurts their brands. Greed filled executives in good years leading up to the Great Recession. During this time, many managers made decisions that caused major damage to their firms. (more…)
Customer centric firms are primed to create value for all stakeholders. Is your business customer centric? The late management guru, scholar, and author, Peter Drucker said, “The purpose of a business is to create a customer.” No customers, no business. No students, no school. No sports fans, no stadium! It’s that simple. If we believe this, why is poor customer service rife?
Oligopolies are not Customer centric
In Canada, two key industries, banking and telecommunications, are oligopolies. They are not customer centric. Yet, consumers accept the lack of effective competition, and are complacent. Often, firms in these industries provide poor services while hiking fees often. Ironically, when the government wanted more competition in telecommunications recently, companies played the patriotism card successfully. (more…)
Why Target Canada failed? Its poor start doomed it for failure. Target gave its rivals almost two years to respond to its entry in Canada. In 2011, Target announced it would buy Zellers’ leases, but only in 2013 did Target open its first store in Canada. Then, it tried to make up lost ground and ramped up too quickly. This two year delay alone is a valid reason why Target Canada failed. What was Target thinking?
It was no surprise when on January 15, Target said it was closing its Canadian operations. This will affect 17,600 workers and cost its owners over $6 billion pretax. What a waste!
Target saw a chance for its first venture outside the USA. It viewed struggling Canadian discount retailer, Zellers as a ready made vehicle. So, it bought Zellers’ store leases–not its business–for $1.8 billion. But, Target made basic missteps that led to its demise. These are three major blunders why Target Canada failed:
Protracted entry, rapid ramp up
Brand promise neglected
Competitive advantage overlooked
Why Target Canada Failed: Protracted Entry, Rapid Ramp Up
Target gave its rivals almost two years to react to its entry in Canada. In 2011, it announced it would buy Zellers’ leases. However, it did not open its first store until 2013. No doubt Target realized it was late, and opened over 100 stores during 2013 in former Zellers’ locations! During this rapid ramp up, many stores had empty shelves. From the start, Target Canada did not connect with its customers. It built up massive losses. Yet, it continued to open more stores in 2013, even with supply chain problems. (more…)
A small business owner has several challenges. Often he or she must play every important role. This can be stressful. However, I have been mentoring a few small business owners for the past few years, and each small business owner I coached was thrilled to be his and her own boss. Besides, each understood that it’s normal in a small business to not employ full-time specialists in each major activity.
I gained gear insights in the workings of these small businesses. Though I worked mainly in a large multinational business in many countries, one fact is clear. Apart from the scale, most challenges small and large business issues face daily are similar. Still, I think there are three areas a small business owner should address regularly. And a new year is a perfect time to do it.
As a small business owner you have the joy of being your own boss. However, this brings responsibility for the entire business. Unless you pause regularly to examine how you are doing, you can burn out emotionally, mentally, spiritually, and financially. This happens gradually.
Book publishers today will tell you business is tough. My American publisher recently emailed me to say their business was bankrupt. They couldn’t pay outstanding royalties from 2013, but would ship my inventory – at my expense – to any destination I chose. My first Canadian publisher trod a similar path five years earlier. Today I’m working with another publisher who could be headed in the same direction.
The eventual demise of these Christian-led businesses was obvious for several years in partial and delayed bill payments. However, many of us don’t heed such warnings and thus miss the opportunity to deal with structural challenges. Instead, we chase money-driven, unsustainable quick fixes.
But business executives who focus on relevant success factors will spot threats and opportunities early, and respond appropriately. I suggest these four keys to success in a mission-focussed business or organization:
Clear vision and mission
Careful attention to success factors
Attitude that puts people first
Simple strategy understood by the workforce.
Mission-focussed Business has Explicit Vision and Mission
For a Christian-led business, the vision and mission should satisfy needs or wants that honour God. (In business, “vision” defines an organization’s purpose in broad strokes, while “mission” expands and clarifies it.)
Highly visible and understood affirmations of the organizational vision and mission are essential to help a workforce remain engaged and motivated.
Unfortunately most organizations drift away from their mission. During boom times, new money-making ventures can seem too enticing to pass up. Leaders may hire and use loans to grab short-term benefits. But as the new business fades, debt grows, employees are laid off and a toxic environment develops.
Executives must never forget that the mission is the guiding light. Leaders must pursue it passionately, methodically and consistently. Doing so enables them to resist the temptation to follow every business opportunity that crops up.
Mission-focussed Business Explain and Track Success
Employees should know how their organization measures success, not only in their department, but overall. They should know the ingredients of success and understand it’s more than one bottom-line number.
I learned early at business school that “if you can’t measure it, you can’t manage it.” The challenge is to identify “it” – five to seven critical factors to track continually. Executives must monitor inputs that determine employee and customer satisfaction, and profitability.
Sadly, most people try to manage the wrong items. They may focus wrongly on outputs, when in fact only inputs (amount and quality of material, labour, and so on) are truly manageable.
Christian-led businesses must follow biblical principles while achieving reasonable returns. Executives must be unequivocal that the business will never compromise its values. When I served as vice-president at Alcan Inc. (now Rio Tinto Alcan), we had to submit a yearly letter to the president affirming we were unaware of violations of Alcan’s principles, objectives and policies. This formal process cascaded to front-line managers – each level submitting letters to the one immediately above.
Mission-focussed Business put People First
People are the greatest asset of any business. Motivated, passionate workers go beyond what’s needed. They lift productivity and provide superior services to customers – who in turn willingly share their positive experiences with others, thus benefiting the business.
Executives must invest time selecting, training and developing employees. They must value employees highly and treat them according to the Golden Rule.
Mission-focussed Business has a Clear Strategy
Vision, mission and strategy statements need to be simple and easily understood. A strategy should depict how the business intends to do its mission – essentially, how it will provide superior value to its customers. Executives should explain the strategy to the workforce – especially managers who must build and work with congruent departmental strategies and budgets.
The Bible teaches that the Lord will guide us when we believe in Him, trust, obey and lean on Him. Fundamentally, for Jesus’ followers, success is developing and treading paths that glorify God while doing His mission. It is aligning our lives with His – and these four keys to success in a mission-focussed business can help serve as signposts on our journeys.