The Case for Creating a Market-Driven Organization

I recently had the pleasure of being interviewed by Linda Popky of L2M Associates, a Marketing Strategy Consulting firm.

It allowed me to reflect a little on what it takes to build a market-driven firm and why it remains a critical issue for any business. The reality is the only firms that will thrive now and in the future are those with a close eye on the marketplace.

A great example is Walmart that uses “business intelligence” technology to crunch its masses of data and turn it into actionable insight.  The latest Economist magazine, describes the following case:  “Wal-Mart peered into its mammoth databases and noticed that before a hurricane struck, there was a run on flashlights and batteries, as might be expected; but also on Pop-Tarts, a sugary American breakfast snack. On reflection it is clear that the snack would be a handy thing to eat in a blackout, but the retailer would not have thought to stock up on it before a storm.”

This is a great example of gaining customer insight from information which allows a company to take profitable action.

To listen to my interview on why customer insight and other market driven behaviors are so critical to business profitability click here

One response to “The Case for Creating a Market-Driven Organization

  1. Pingback: {Market-Driven Organization} المؤسسات المحركة للسوق | مدونة خميس الشيبة الشرياني

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