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BROADER market reach How is it measured? Total sales (or market share) growth period over period; and/or the combination of relative share growth and the number of new segments or geographic markets the firm started competing in over the period. Growth in terms of geographic and segment expansion is in support of the strategic objectives, if the firm consequently grows its total market share.
How is the result improved upon? Growing relative sales per market segment (across the board), with total market share growth. Entering new market segments, new geographical areas, or global markets.
How does VCM influence the result? Here are some of the many derived benefits for broader market reach: v New differentiated offers allow firms to compete in new segments. v Effective platform and funnel strategies allow to trigger value activities only where customers perceive, and benefit from, the value produced. v Access to new geographic (domestic regions) and global markets through partners opens up new avenues and channels. v Improved segmentation allows to better meet specific customer needs and behaviors and improves market/segment penetration and share growth. v Product/service platform offer fits in better with customer overall solution, hence the customer is more likely to by its services. v Differentiation based on core competencies drives increase in sales for existing and new market segments. Investment should be focused on core competency and capacity development. v New services are developed faster and brought to market faster because of the firm's relationships. The firm maintains market superiority for a while, driving both higher sales and higher prices. |
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