From product to customer orientation by using an innovative way for customer segmentation
Excellent products or services are the basis for a sustainable business success but they no longer suffice for the future competition.
For many years the goal of strategy development has been to achieve a sustainable advantage compared to the competition within an industry. Hence, the focus of strategic thinking was on the own industry and the related competitors. This led very often to copying the competitors and completely losing sight of the customers.
Basic strategies for customer segments
It is about understanding what is really important to single customers and to translate this knowledge into highly attractive, customer-specific Value Propositions. The main question is: How can I bond the customer with an attractive and specific offering and make it difficult for the competition to access the customer?
In 3 steps to an attractive Value Proposition
In the first step the question should be answered which differentiation criteria should be used to characterize and subsequently to segment the customers. This includes the definition of observation patterns for the segmentation process. This decision has a great impact on everything that follows since the used evaluation criteria has a major influence on the result, i.e. which customers are bundled into a customer segment. The critical reflection of the evaluation criteria is thus the essential step to gain new views, evaluations, insights and possibilities.
Innovative customer segmentation
The questions that have to be answered in this step are: Who are our customers? Which different needs, patterns of behavior and key customer values do they have? Which characteristic customer clusters can be formed based on the defined differentiation criteria (observation patterns)?
Specific Value Propositions
In this step, it is about making a decision on the customer segment that should be in the focus in the future, taking into account the identified core competencies. The customer loyalty potential of the respective customer segments plays a further important role in this decision.
Distinctive competitive advantages through Innovative Customer Segmentation and unique Value Propositions
The Innovative Customer Segmentation offers a new way to view customers, competitors and the own strategic positioning. By dealing with the specific needs of potential customers and the subsequent characterization and segmentation you will be able to develop unique Value Propositions that will create unique selling propositions for your company.
This concept makes opportunities transparent that are not even mentioned in traditional models and concepts. Furthermore, the consciousness of key players can be expanded in a way that new is created in discussions and a foresighted self-renewal process is possible. The result is a unique Value Proposition with sustainable competitive advantages.
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