by Kenneth Rudich
The above graphic captures the big picture perspective as it pertains to a value chain approach for marketing strategy excellence.
As the illustration shows, an organization’s assets – its people, facilities, technologies and processes – are deployed as judiciously as possible across the entire value chain. The aim is to create a certain set of outputs, which in turn lead to a certain set of outcomes.
This is the anatomy of how a for-profit enterprise essentially tries to operate. A not-for-profit, on the other hand, is likely to differ in the sense that it might have “donors” and/or “donations” instead of “profits” as outcomes.
the parts of big picture business strategy
Several earlier posts have already looked at and addressed several parts of this big picture perspective.
The value chain was introduced in “A Value Chain Approach for Marketing Strategy Excellence.”
Value fulfillment was covered in yet another post. It is worth noting that responsiveness is related to value fulfillment because fulfillment is derived from being responsive to customer needs, wants and desires as they apply to the process of creating value.
Additionally, there was a recent post to outline the concept of the strategic learning cycle for effectively managing a strategy over time. It pointed out that strategy is fluid and emergent, and it requires constant attention. The strategic learning cycle is a disciplined process for maintaining an agile strategy, one that consistently produces the desired outputs and outcomes. A similarly related post revealed the difference between top-down and bottom-up business strategy development, and how the two can be geared to work in a complementary manner.
All in all, numerous marketing strategy management concepts have already been touched upon, and now we are able to fit them together in the context of the big picture perspective as shown above.
a focus on the value chain for marketing
The time has come to focus more closely and rigorously on the value chain for marketing.
Although you wouldn’t know it by the way it has been squeezed into the above graphic, it actually is the centerpiece of the big picture perspective. It takes the inputs and translates them into the outputs that produce the outcomes.
In other words, what occurs in the space between the inputs and the outputs is the most critical aspect of all. And that, of course, is precisely where the value chain sits. It determines how the inputs get knitted together, and whether the outputs are sufficient to realize the sought after outcomes.
In upcoming posts, we truly will be digging into the nitty-gritty of a value chain approach to marketing.