Phy-gital Roundtable: Breakfast Roundup from Germany and Netherlands

02 May '15 | Debjyoti Paul

German Shoppers: Meet Them in the Fast Lane to Phy-gital

15 January '15 | Ralf Reich

Shoppers Will Share Personal Information (But They Don’t Want to be “Friends”)

15 January '15 | Anil Venkat

Modernize or Perish: Property and Casualty Insurers and IT Solutions

14 January '15 | Manesh Rajendran

Benelux Reaches the Phy-gital Tipping Point: Omnichannel Readiness is Crucial

13 January '15 | Anil Gandharve

The New Omnichannel Dynamic: Finding Core Principles Across Industries

13 January '15 | Debjyoti Paul

Technology does not disrupt business – CIO day 2014 Roundup

02 December '14 | Anshuman Singh

Apple Pay – The Best Is Yet To Come

02 December '14 | Indy Sawhney

Digital transformation is a business transformation enabled by technology

01 December '14 | Amit Varma

3 Stages of FATCA Testing and Quality Assurance

06 October '14 | Raman Suprajarama

3 Reasons why Apple Pay could dominate the payments space

18 September '14 | Gaurav Johri

Beacon of Hope: Serving Growth and Customer Satisfaction

05 August '14 | Debjyoti Paul

The Dos and Don’ts of Emerging Technologies Like iBeacon

30 July '14 | Debjyoti Paul

What You Sold Us On – eCommerce Award Finalist Selections

17 July '14 | Anshuman Singh

3 Steps to Getting Started with Microsoft Azure Cloud Services

04 June '14 | Koushik Ramani

8 Steps to Building a Successful Self Service Portal

03 June '14 | Giridhar LV

Innovation outsourced – a myth or a mirage or a truth staring at us?

13 January '14 | Ramesh Hosahalli

What does a mobile user want?

03 January '14 | Gopikrishna Aravindan

What is Your (Marketing) Strategy? – Part II

Posted on: 13 November '09

I want to continue our discussion around strategy. Did you try the one sentence strategy game I wrote about in my last blog? If your experience was like mine (ours) at MindTree, I imagine it wasn’t easy. In our session with David Yoffie in Bangalore, he offered “Five Common Sense Rules to Successful Strategy,” which I thought I’d share and comment on:

   1. Be Unique. As Warren Buffet once said, “me-too” strategies rarely work. I find this one to be the simplest rule, but perhaps the most difficult to overcome as CMO of an IT Services company. We play in a very saturated market and it is hard to position MindTree uniquely in the market.

   2. Create Value. Throughout every step of its value chain-whether for a product or service-a Company needs to show or demonstrate value to their end customer. Value for customers needs to be felt everywhere: during a tech support call, in a retailer’s check-out line and in your warranty policy.

   3. Communicate Value. As marketers, this job usually falls on us. How do we effectively communicate value creation in the face of intense competition (see point 1)? This is where we earn our pay check. Fancy presentations, glossy marketing collateral or sleek product packaging cannot hide service or product failures.

   4. Be Bold and Take Risks. We are only certain in hindsight. Studying the business environment in which you play only limits risk, not eliminate it. To be a success in business, one needs to be daring, be bold, be different (Henry Merchant 1789). This flies in the face of the “me-too” approach in #1.

   5. Become a Moving Target. Successful companies very rarely look the same 5, 10, 15 or 20 years later. More often than that, something fundamentally changes about the “what, where, when and how” of their products or services. How a company adjusts its strategy by taking risks will help keep you ahead (or if unsuccessful, behind) of the competition.

  • Geetha

    Dear Joe,

    This is sure very interesting. Thanks a bunch!

    I remember reading this in ‘Goldfinger’ by Robert Heller:

    “The Marketing Quartet – if you are selling the right goods or services to the right customers at the right price in the right way, you must win; get the marketing quartet wrong, and the results will also be deeply erroneous.

    Dave Patten, author of Successful Marketing for the Small Business, lays down three basic principles:

    1. Differentiate your product
    2. Identify your market segment
    3. Promote with purpose.”

    Have a great weekend!

    Thanks and regards,

    Geetha

  • Vijay. M

    Dear Joe,

    All the five important points are to be followed by all the companies to taste success in executing their strategies.

    These can be big five of effective implementation of strategies for marketing or any other function in a company.

    Regards,
    Vijay

  • Dear Vijay:

    I am glad you agree.

    Joe

  • Hi Joe

    i am a young IT Business development team member. these points i am gonna use effectively.

    appreciate your effort in documenting them here.

    thanks
    Shabbir

  • Sandeep Patel

    Hi Joe,

    I am Sandeep Patel. I am ex-employee of Mindtree Ltd. Currently pursuing MBA at QUT, Brisbane. As a part of my assessment, I was given a choice to select either a company of my own or to take the company that my faculty provided, for analysis of strategies adapted by the company. I wanted to take advantage of this situation to know more about the company at the corporate level. I read couple of your articles, especially the article above is of great interest to me and with regards to my assigment.
    It would be really great if you could share with me the strategies adaopted by Mindtree in the past and its future srategies, other than the “Five Common Sense Rules to Successful Strategy” described above. I am sure there would have been some short term strategies, some goals to be met in the near future and strategies behind series of acquisitions. Kindly oblige

    Thanks in advance.
    With Warm Regards,
    Sandeep Patel