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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.
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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 RothmanFrom 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:
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:
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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