Becoming Market-Driven
The discussion so far points to the importance of becoming market-oriented, leveraging the distinctive capabilities, and finding a good match between customers’ value requirements and the organization‘s capabilities.
Market Sensing and Customer Linking Capabilities
Market orientation research, evolving business strategy paradigms, and the Conference Board study all point to the importance of market sensing and customer linking capabilities in achieving successful market-driven strategies.
Market Sensing Capabilities. Market-driven companies have effective processes for learning about their markets.
Customer Linking Capabilities. There is substantial evidence that creating and maintaining close relationships with customers are important in market-driven strategies.
Aligning Structure and Processes
Becoming market driven may require changing the design of the organization, placing more emphasis on cross-functional processes. Market orientation and process capabilities require cross-functional coordination and involvement.
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