A Need for the Customer Centred Growth Approach
How can you know if a customer centred approach to growth is right for your business? These five indicators can identify areas where the Customer Centred Growth approach is needed and valuable.
Can your company explain simply how consumers make choices about its brand or a competitor’s? If your company is losing share (even while it is growing), can you explain why?
Is the shape of the market fundamentally shifting? Are disruptive new players emerging?
Are multiple brands going after the same targets, resulting in high rates of cannibalization? Does your company lack an integrated view of the role in the portfolio for individual brands?
Commercial Cohesion Test.
Are the marketing, sales, and innovation teams operating under diverse and disjointed sets of priorities?
This is the ultimate test: Is your company’s growth rate below ambition or historical norms? Does management finds itself constantly making tradeoffs involving price and volume growth?