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Strategy from the Outside In
Profiting from Customer Value
Authors: Day, George; Moorman, Christine
©2010 | 1st Edition | 304 pages , Hardcover
Pub Date: July 2010
Price: US$ 32.95
Make customer value a C-Suite priority for lasting profits and growth
While the Great Recession ravaged the balance sheets of long-standing leaders in their respective industries, many companies have actually gained market share, grown revenues and profits, and created more value for customers. These are not flash-in-the-pan companies—world-beaters one year and stragglers the next. They are companies like Johnson & Johnson, Procter & Gamble, Fidelity, Cisco, Philips, Walmart, and Amazon.
The success of these organizations isn’t the result of a brilliant strategy for bad times; it’s the outcome of a highly effective long-term strategy that manages the company from the outside in.
In Strategy from the Outside In, George S. Day and Christine Moorman explain that the key to such lasting and highly profitable success is the ability to compete on and profit from customer value. It means operating from the outside in. It means always building strategy on market insight, and ensuring that every part of the company puts customer value first.
Applying years of research, Day and Moorman illustrate that an outside-in view requires constant vigilance and focus on four customer value imperatives:
- Be a customer value leader
- Innovate new value for customers
- Capitalize on the customer as an asset
- Capitalize on the brand as an asset
Day and Moorman take you from theory to practice, with an emphasis on real world stories, practical models, and useable metrics so that you can profit from customer value. From the outside in.
Praise for Strategy from the Outside In
“Throughout P&G’s long history, we have focused on the four customer value imperatives outlined in this excellent book—and are as committed to them today as ever. This is essential reading for leaders focused on making a positive difference in the world and, as a direct result, delivering growth for both the near and long term.”
—Robert A. McDonald, Chairman, President, and CEO, The Procter & Gamble Company
“Strategy from the Outside In is thought-provoking, practical, and full of ideas on how to strengthen your company’s customer value proposition.”
—Tom Lynch, CEO, Tyco Electronics Corporation
“American Express’s success has rested largely on our ability to focus on our customers and adapt to their changing needs over the past 160 years. Strategy from the Outside In is an insightful book with practical advice about how to do just that.”
—Jud Linville, President and CEO Consumer Services, American Express
“An in-depth look into the basic premise of what, in my view, makes successful business. Certainly worth reading once and then once every year to remind all of us what keeps us in business. For marketers, a great benchmark to help focus on how to add value most effectively.”
—Geert van Kuyck, Executive Vice President and Chief Marketing Officer, Royal Philips Electronics
“Sam Walton said ‘there’s only one boss–the customer’. At Walmart we try to stay focused on that every day. But how? Strategy from the Outside In provides a blueprint for how to build a trusted brand based on consistently providing superior value to customers.”
—Stephen Quinn, Chief Marketing Officer, Walmart
“Getting your company to organize around what customers value most sounds easy in theory, but it’s very hard to do consistently well. Day and Moorman provide a thoughtful, realistic, and actionable blueprint for delivering the most value to your most valuable customers.”
—Beth Comstock, Chief Marketing Officer, GE
“Only a few books can really help marketing professionals make a difference in their organization. Strategy from the Outside In falls into this category. Creating superior customer value is or should be a priority of all marketers. Here, Day and Moorman provide a clear path for delivering on such value. Most important, their work is based on the real-world successes (and failures) of organizations which they have studied.”
—Dennis Dunlap, CEO, American Marketing Association
“Strategy from the Outside In offers a refreshing reminder that answers to managers’ most pressing questions always start by looking outside the organization and meeting consumer needs better than the other guys! It provides a combination of solid evidence and user-friendly frameworks that can be put to use immediately. A must-read not only for today’s challenged CMO but for the rest of the C-suite as a guiding framework for the entire enterprise.”
—Rob Malcolm, President, Global Marketing, Sales and Innovation, Diageo PLC
“Strategy from the Outside In provides a handbook to re-imagine a business through the eyes of customers. It is full of current case studies, research, and practical frameworks that senior marketers can use to refine their own thinking and influence their colleagues.”
—Greg Gordon, SVP Consumer Marketing, Liberty Mutual
“Day and Moorman advise companies to leave their comfortable positions of controlling their businesses to the uncomfortable position of allowing their customers control. This is a book only for companies courageous enough to listen to their customers instead of themselves.”
—Ron Nicol, Senior Partner and Managing Director, Boston Consulting Group
About the Authors
George S. Day (Philadelphia, PA) is the Geoffrey T. Boisi Professor and co-Director of the Mack Center for Technological Innovation at the Wharton School at the University of Pennsylvania.
He has been a consultant to numerous corporations such as General Electric, IBM, Metropolitan Life, Marriott, Unilever, E.I. DuPont de Nemours, W.L. Gore and Associates, Coca-Cola, Boeing, LG Corp., Best Buy and Medtronic. He is Chairman-elect of the American Marketing Association and a Trustee of the Marketing Science Institute. His primary areas of activity are marketing, the management of emerging technologies, organic growth and innovation, and competitive strategies in global markets.
Professor Day has authored fifteen books in the areas of marketing and strategic management. His most recent books are Peripheral Vision: Detecting the Weak Signals that Can Make or Break Your Company (with Paul Schoemaker) published in 2006, Wharton on Managing Emerging Technologies (with Paul Schoemaker) published in 2000, and The Market Driven Organization, published in 1999.
He has won ten Best Article awards with two of these articles among the top 25 most influential articles in marketing science in the past 25 years. He was honored with the Charles Coolidge Parlin Award in 1994, the Paul D. Converse Award in 1996, the Sheth Foundation Award in 2003, and the Mahajan Award for Career Contributions to Marketing Strategy in 2001. In 2003 he received the AMA/Irwin/McGraw-Hill Distinguished Marketing Educator Award.
Christine Moorman (Durham, NC) is the T. Austin Finch, Sr. Professor and founder of The CMO Survey at the Fuqua School of Business, Duke University. Professor Moorman is the author of over 60 journal articles, reports, and conference proceedings. She has co-edited the book Assessing Marketing Strategy Performance (with Don Lehmann) and has made over 100 presentations of her work at universities all over the world.
She has served on the Board of Directors and chair of the Marketing Strategy Special Interest Group for the American Marketing Association, as Director of Public Policy for the Association for Consumer Research, and as an Academic Trustee for the Marketing Science Institute. She won the 2008 Mahajan Award for Career Contributions to Marketing Strategy from the American Marketing Association and the 2008 Distinguished Marketing Educator from the Academy of Marketing Science.
Professor Moorman’s research has won two best paper awards and been published in Journal of Marketing Research, Journal of Consumer Research, Marketing Science, Journal of Marketing, Journal of Public Policy & Marketing, International Journal of Research in Marketing, Academy of Management Review, and Administrative Science Quarterly. Her research has been supported by grants from the Marketing Science Institute, the Institute for the Study of Business Markets, and the National Science Foundation. She is on the Editorial Review Boards for all of the top journals in the field.