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The Discipline of Market Leaders: Choose Your Customers, Narrow Your…
by Michael Treacy, Fred Wiersema
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The classic bestseller outlining tactics for any business striving to achieve market dominance What does your company do better than anyone else? What unique value do you provide to your customers? How will you increase that value next year? Drawing on in-depth studies and interviews with the top CEOs in the country, renowned business strategists Michael Treacy and Fred Wiersema reveal that successful companies do not attempt to be everything to everyone. Instead, they win customers by mastering one of three "value disciplines": the highest quality products, the lowest prices, or the best customer experiences. From FedEx to Walmart, the companies that relentlessly focused on a single discipline not only thrived but dominated their industries, while once powerful corporations that didn't get the message, from Kodak to IBM, faltered. Presented in disarmingly simple and provocative terms, The Discipline of Market Leaders shows what it takes to become a leader in your market, and stay there, in an ever more sophisticated and demanding world.
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Melvil Decimal System (DDC)658.8 — Technology and Application of Knowledge Management and auxiliary services Management Of Marketing
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The thesis of the book is that: Market leaders succeed by concentrating in one of 3 areas.
- Operational excellence – lowest cost
- Product leadership – innovative products
- Customer focus – total solution
It includes comments from several people in each of several companies about their strategy. I skimmed over these interview snippets even though they indicated the depth of work the authors went to in order to learn about the featured companies.
As with so many business books, companies that are held up as an example subsequently falter: “Over and over, companies slump within a few years of a rave review. It’s happened to IBM, Westinghouse, American Express, and Kodak. The kiss of the media turns into a curse.” (Page 191)
The authors propose that in deciding what their focus should be, executives make “three rounds of disciplined assessment and deliberation.” (Chapter 10) Good advice if you are part of the Corporate-suite. ( )