ValueSpace: Winning the Battle for Market Leadership

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9780071375276: ValueSpace: Winning the Battle for Market Leadership

In the tradition of the bestselling "The Discipline of Market Leaders, business professors and consultants Banwari Mittal and Jagdish N. Sheth describe a dynamic new value-based approach to achieving market dominance they call ValueSpace--the space that great companies create to deliver their customers the greatest value. Based on the findings of an in-depth study for the prestigious Marketing Science Institute of the top 10 companies on Fortune's Most Admired Companies list, Mittal and Sheth show that value is the "missing link" in achieving enduring customer loyalty, and that the three main components of customer value are performance, price, and service.

With the help of fascinating case studies from UPS, 3M, Caterpillar, Xerox, Fossil, and other "most admireds," "Value Space explains why and how companies in all business sectors that excel at delivering customer value are invariably the market leaders. It outlines a complete program for achieving long-term success by more effectively managing the 9 organizational processes that drive performance, price, and service.

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In today's hyperkinetic marketplace, businesses must constantly be on the lookout for ways to separate themselves from their competitors. Banwari Mittal and Jagdish N. Sheth believe the best method is delivering superior value to customers, and in ValueSpace, named for the term they coined to describe the total corporate package top companies create to do just that, they outline specific moves that help leading firms earn and maintain their stellar reputations. Mittal and Sheth, business professors and consultants, thoroughly studied 11 superlative businesses before identifying the three components that all rely upon to provide such value: performance (ensuring products and services work as advertised), price (setting fair and reasonable rates), and personalization (making it easy for customers to deal with them). They then show how each of their leading corporations shine in these areas. AutoNation, for example, initiated "no haggle" pricing at dealerships to ease a common anxiety among car buyers; 3M operates rock quarries so only the highest quality minerals are produced for roofing shingles; American Express is available around the clock, every day of the week, to merchants with problems. The authors helpfully conclude with solid suggestions for adapting these ideas and others from their spotlighted companies--which also include Caterpillar, Xerox, UPS, PPG, Hilton, Sysco, Rosenbluth International, and Fossil--into operations where such "valuespace" is lacking. -- Howard Rothman

From the Back Cover:

Value-creation strategies of Fortune's most admired corporations

A New Paradigm for Achieving Market Dominance­­Built on the Proven Precepts of Today's Customer Value Leaders

ValueSpace details a dynamic new approach for making your company a market leader, succeeding at levels enjoyed by today's most value-based, customer-centric organizations. It takes you where the true customer value is created­­inside the walls of today's top value-producing firms­­to outline a new program for strengthening the weak links in your customer value chain and achieving market dominance.

Based on a top-to-bottom study conducted by the prestigious, Cambridge-based Marketing Science Institute, this timely book introduces you to:

  • Building blocks and drivers designed to create superior performance, price, and personalization­­the 3 key components for creating customer value
  • Techniques to enhance loyalty among your existing customer base­­and create loyalty among newer customers
  • Case studies and executive interviews from market leaders including UPS, Xerox, Hilton, and others

ValueSpace comprises a hands-on, comprehensive battle plan for transforming your organization into a year-in, year-out market leader. Let it show you how today's most successful corporations are winning the battle by giving customers, shareholders, and employees the same exceptional value­­and emerging the market share winners.

"To understand how market-leading companies create customer valuespace, we researched 11 companies with reputations for delivering exemplary customer value. For each company, we researched published information about its operations, visited the company headquarters, and interviewed senior executives to understand their efforts at value creation. What we learned, from the interviews and from our reflections, we report in this book."

­­Ban Mittal and Jag Sheth, from Chapter 1

UPS ... Xerox ... Caterpillar ... Among today's foremost global corporations, these members of Fortune's most-admired list have established reputations for combining exceptional customer service with impressive profit margins. ValueSpace goes behind the scenes of these and other customer loyalty leaders, discussing strategy with top executives­­and observing those strategies in action­­to construct a blueprint for reaching the top in today's ultra-competitive, global business environment.

What emerges is a portrait of corporate success, of gaining maximum value from each corporate resource and passing that value along­­to customers, shareholders, and employees alike.

"Under the '16X Quality Improvement' program, we literally eliminated repetitive product failures. Now we are attacking random failures with Six Sigma methodology, continuing to drive defect rates so low that no competing machine will even come close."

­­James E. Despain, Vice President, Caterpillar

Decision makers at every level can look to these illuminating interviews and analyses to discover specific answers and proven solutions, including:

  • 9 organizational processes any company can adopt to drive the 3Ps of customer value­­performance, price, and personalization
  • ValueSpace Expanders­­Value-added offerings that go beyond the 3Ps to enhance your service and success
  • Techniques to create a culture of innovation that encourages employee empowerment­­and increases customer value

Customers don't enter the marketplace seeking just a quality product, or just prompt service. Customers enter the marketplace seeking superior value across the board! Turn to ValueSpace to learn how today's value leaders reached the top, and how they have positioned themselves to be the value leaders of tomorrow­­planning for and implementing valuespace for customers now and into the future.

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