Building the market driven organization

Question 1

Elements of market orientation:

Answer 1

Question 2

Market sensing key steps:

Answer 2

• Market sensing. Work out how to collect the data
• Make sense of it effectively
• Share it between several departments within the company
• Implement changes
• Feedback and learning
• Do it again

Question 3

Improving the market sensing capability:

Answer 3

1. Maintain Direct Contact with Your Customer
2. Keep an Open Mind
3. Triangulate with Multiple Methods (each method has its own biases)
4. Experiment Continuously. Accept failure as an opportunity to learn
5. Create a Common Picture of the Customer
6. Share Customer Insights and Best Practices

Question 4

Characteristics of an insight-driven organisation:

Answer 4

Question 5

Initiative to change mindsets and behaviours:

(Change company culture)

Answer 5

Question 6

Jeff Bezos on customer focus:

Answer 6

“If you’re competitor-focused, you have to wait until there is a competitor doing something. Being customer-focused allows you to be more pioneering”

Question 7

Building and sustain market-oriented culture:

(Change company culture)

Answer 7

Question 8

Can a market-driven culture become harsh on employees and have the opposite effects?

Answer 8

Bad because: (article titles)

• Positive work cultures are more productive
• The connection between employee trust and financial performance
• Employees who feel love perform better
• Customers care how you treat your employees

7/10 people are not engaged at work (in the US). It is a global problem and costs money to the economy.