Theories of Marketing
LITERATURE, LECTURES & READING QUESTIONS
, Topic 1:
Overview of development in
marketing thinking
,Topic 1
Development of marke3ng thinking
Marke3ng as an ac3vity and a philosophy
Marke'ng is both a set of ac'vi'es for crea'ng, communica'ng, delivering and exchanging customer value
and a business philosophy that starts with customers and markets. A narrow view focuses on planning
products, pricing, promo'on and distribu'on; a broader view includes delivering value for customers,
partners and society.
From exchange ac3vi3es to a value-oriented philosophy
AMA de?ni3on (1985): planning and execu'ng concep'on, pricing, promo'on and distribu'on to create
exchanges that sa'sfy individual and organisa'onal goals.
AMA de?ni3on presented for 2012: ac'vi'es, ins'tu'ons and processes for crea'ng, communica'ng,
delivering and exchanging o@erings that have value for customers, clients, partners and society.
– The emphasis broadens from managing transac'ons to a wider system of value crea'on and
delivery.
Produc3on concept: emphasise availability, eCciency and low costs.
Product concept: assume superior quality or performance will aDract customers.
Selling concept: ac'vely persuade customers to buy what the Erm produces.
Marke3ng concept: start with the needs of a selected audience and deliver more relevant value than
alterna'ves.
Figure 1. Evolu3on of the marke3ng concept.
Read from produc'on and product emphasis through selling to customer-oriented marke'ng. The change concerns the
star'ng point of business decisions.
Marke'ng has developed from product-centric to customer-/brand-centric, value-centric and
digital-/experience-centric thinking:
Product-centric: a generic slipper is bought primarily for its basic func'on.
Customer-/brand-centric: Havaianas adds a recognisable brand and associa'ons to the slipper.
Value-centric: Patagonia adds meaning through what the company stands for.
Experience-centric: Nespresso creates value through the complete co@ee experience, not only the
co@ee itself.
3
, Figure 2. Four emphases in marke3ng development.
Slippers, Havaianas, Patagonia and Nespresso illustrate product func'on, brand meaning, wider values and whole
experiences. Later emphases do not eliminate basic product value.
The basic logic remains customer orienta3on and di@eren'a'on through superior value. Moving from
transac'ons to rela'onships makes share of wallet important: how much of one customer's spending the
Erm captures, rather than only how much of the total market it captures.
Figure 3. From transac3ons to rela3onships.
Market share measures the Erm's posi'on across a market; share of wallet measures how much of one customer's relevant
spending it captures.
Figure 4. The marke3ng system expands.
Compare the linear supplier–Erm–distributor chain with more connected func'ons, channels and customers. Value delivery
increasingly requires coordina'on across actors.
Lecture focus: the customer and relevant alterna'ves are the star'ng point. A product has value when it
helps the target customer achieve something that maDers, and the Erm must make that beneEt dis'nc've
and deliverable. Nespresso's co@ee experience illustrates why the product alone is only part of the o@er.
4
, Figure 5. Segmenta3on and value diUeren3a3on.
First recognise di@erent groups and needs; then develop relevant dis'nc've value. Dividing a market without changing the
o@er is not enough.
Figure 6. A snapshot of marke3ng ac3vi3es.
The ac'vity mix shows the breadth of marke'ng work. Treat the reported percentages as a dated context snapshot, not as a
deEni'on of marke'ng.
Strategy forma3on: Dolan (2014)
A coherent marke'ng strategy connects analysis, decisions and outcomes. It is not strictly linear: choosing
retailers instead of direct distribu'on creates new ques'ons about partners, margins and customer access.
The marke3ng process
The wider marke'ng process comprises:
1. Strategy forma'on.
2. Planning.
3. Programming, resource alloca'on and budge'ng.
4. Implementa'on.
5. Monitoring and audi'ng.
6. Con'nuing analysis and research.
Market analysis: the ?ve Cs
The 5 Cs structure analysis:
1. Customer: understand needs, willingness to pay, beneEts, costs, trade-o@s and decision criteria.
– Decision-making unit (DMU): ini'ators, gatekeepers, deciders, inZuencers, purchasers and users.
– Decision-making process (DMP): how they search, evaluate and choose.
2. Company: assess the assets, exper'se and competencies needed to deliver the proposed value.
– A core competency contributes substan'ally to customer value, is hard to copy and can support
opportuni'es beyond one product.
5
, 3. Collaborators: iden'fy partners that supply missing resources or exper'se.
– Determine how to mo'vate and coordinate them.
4. Compe33on: analyse all alterna'ves customers regard as subs'tutes, not just Erms in the same product
category.
– Consider their posi3oning, capabili3es and likely responses.
5. Context: monitor technological, cultural, social, economic, poli'cal and legal developments that change
opportuni'es and constraints.
Who par3cipates in the buying decision?
The decision-making unit can involve several people, or one person performing several roles:
1. Ini3ator: Erst recognises or raises the need.
2. Gatekeeper: controls access to informa'on or suppliers.
3. Decider: authorises or makes the Enal choice.
4. In\uencer: shapes criteria, preferences or evalua'on.
5. Purchaser: carries out the transac'on.
6. User: consumes or uses the o@ering.
Aspira3on versus ac3on plan
The two strategy decisions are:
1. Aspira3on decision: STP.
– Segmenta3on: divide the market into meaningful groups with di@erent needs, preferences or
behaviour.
– Targe3ng: select which segments to serve.
– Posi3oning: deEne how the o@ering should be perceived rela've to alterna'ves and why it is
dis'nc've.
2. Ac3on-plan decision: the marke3ng mix.
– Product: create value.
– Promo3on: communicate value.
– Place: deliver value by making the o@ering available and accessible.
– Price: determine how much value the Erm captures.
Willingness to pay must ul'mately support the costs of producing and delivering the o@ering.
Making the four Ps work together
Product: features, quality, design, performance, branding, service and suppor'ng content deliver the
chosen beneEt.
Promo3on: adver'sing, salespeople, social media, public rela'ons, direct marke'ng, content, reviews
and WOM communicate value.
– Dis'nguish the o@er, reduce uncertainty and support purchase, reten'on and advocacy.
Place: direct channels, websites, showrooms, retailers, wholesalers and other intermediaries provide
access.
– Channels a@ect convenience, experience, margins, costs and control. Demonstra'on or complex
service can make direct selling aDrac've.
Price: captures value while reZec'ng willingness to pay, a@ordability, posi3oning and the proEt model.
– Customer willingness to pay > unit cost allows the possibility of a Enancially viable o@er; the actual
price must s'll support viable margins.
6
,Worked example: Peloton
Peloton illustrates alignment: the proposi*on is not simply an exercise bike, but home 6tness supported by
instructors, content, technology and community. Demonstra*ons help customers understand the o;ering;
subscrip*ons and engagement support reten*on. The customer problem, capabili4es, partners and
implementa*on must support the same promise.
Peloton addresses busy people's di@culty reaching a studio and securing a class. Live/on-demand instruc*on
and community bring that experience home. Manufacturing partners supply hardware capabili4es;
company-owned showrooms allow educa*on and trial. Compe**on includes studios, equipment and not
exercising at all. Instalment payments reframe the upfront sacri6ce; subscrip*ons make con*nued
engagement central to reten*on.
Element Main ques3on Components
Analysis What is happening in the 5 Cs
market?
Decisions What does the Erm want to STP and the 4 Ps
achieve, and how?
Outcomes What results does the Acquisi'on, reten'on, advocacy, sales, proEt and brand
strategy produce? strength
Figure 7. Strategy forma3on: analysis, decisions and outcomes.
The ?ve Cs inform STP and the marke3ng mix; customer responses then a@ect sales, proEt and the customer franchise. The
arrows connect choices to results.
7
,Market orienta3on: Narver & Slater (1990)
Market orienta3on (MO) is the organisa'onal culture that generates behaviours needed to create superior
buyer value and long-term superior business performance. It contains three interrelated behavioural
components:
Customer orienta3on: understand present and future customers and their value chains.
Compe3tor orienta3on: understand current and poten'al compe'tors, their short-term strengths and
weaknesses, and their long-term capabili3es and strategies.
Interfunc3onal coordina3on: use resources across func'ons together to create customer value.
Culture, behaviour and coordina3on
Long-term focus and pro?tability are underlying decision criteria. MO is not the marke'ng department's
responsibility alone. As behaviour, it involves genera'ng, dissemina'ng and using informa'on about
customers and compe'tors. A customer-Erst culture s'll considers other stakeholders and the Erm's long-
term viability.
Figure 8. Three components of market orienta3on.
Customer orienta3on, compe3tor orienta3on and interfunc3onal coordina3on surround a long-term proEt focus. All three
must support superior buyer value together.
For a di;eren*ated milk o;ering, customer orienta4on asks which bene6t the target values; compe4tor
orienta4on checks what other drinks already o;er; interfunc4onal coordina4on aligns product development,
produc*on, pricing and distribu*on so the promise is actually delivered. Having the insight without this
coordinated response is not enough.
Narver & Slater make MO concrete through its three components and show how it relates to pro?tability.
The crucial dis'nc'on is between commodity and noncommodity businesses.
8
,The two research objec'ves are to develop a usable measure of MO and to examine its rela'onship with
pro?tability, including di@erences between business types. Reliability and construct validity concern
whether the measure is consistent and captures the intended concept; the main strategic learning is the
proEtability paDern, not the sta's'cal procedure.
Commodity versus noncommodity: what customers perceive
A commodity business sells a largely standardised o@ering that customers see as interchangeable with
alterna'ves. Generic water and milk illustrate this: if customers perceive no meaningful di@erence, price
becomes decisive. Opera3onal excellence means producing and delivering the acceptable o@ering
eCciently, so the business can compete on low cost rather than expensive di@eren'a'on.
A noncommodity business gives customers reasons to choose one o@ering over another beyond price.
– Adding a valued Zavour, changing the colour/design or building meaningful brand associa'ons can
di@eren'ate an otherwise basic product.
– For example, generic milk illustrates the commodity logic; milk with a dis*nc*ve Mavour that a target
group values illustrates noncommodity di;eren*a*on.
– A visible di@erence only helps if customers actually care about it.
Commodity versus noncommodity is therefore not an unchangeable label aDached to a product category.
Water can be bought as an interchangeable basic product, or sold as a di@eren'ated o@ering through
relevant abributes, packaging, branding or convenience. The ques'on is whether buyers perceive a
meaningful di@erence.
Business type What customers mainly Route to pro?tability Rela3onship with market
compare orienta3on
Commodity Similar acceptable products; ECcient low-cost delivery, U-shaped: the middle
price becomes especially or genuinely valuable posi'on performs worst;
important di@eren'a'on/service high MO performs best, and
consistent low-MO/low-cost
businesses can also perform
rela'vely well
Noncommodity Dis'nc've beneEts and the Understand the target group Posi've: stronger MO is
Et with their needs and deliver relevant associated with greater
di@erences proEtability
Why pro?tability diUers between business types
Why the di@erence?
– Di@eren'a'on requires investment and organisa'onal alignment.
– A noncommodity business beneEts when customer knowledge, compe'tor knowledge and
coordinated delivery improve the relevance of its o@er.
– For commodity businesses, halfway di@eren'a'on can add costs without giving buyers a convincing
reason to pay more.
– The business is then neither the eCcient low-cost supplier nor a compelling di@eren'ated
alterna've: it is stuck in the middle.
High MO can s'll beneEt a commodity supplier by discovering what buyers value around the basic
product, such as a beDer Et with their opera'ons or dependable service.
– In the results, this high-MO group was the most proEtable.
– The U-shape does not mean that low MO is the best choice or that commodity Erms should ignore
customers.
9
, Figure 9. Market orienta3on and business performance.
The diagram dis'nguishes MO from business-speciEc and market-level inZuences. Pro?tability is not determined by customer
orienta3on alone.
Lecture focus: customer orienta3on means understanding buyers; compe3tor orienta3on means
understanding alterna'ves; interfunc3onal coordina3on means gejng the organisa'on to deliver value
together. Noncommodity businesses use this to di@eren'ate successfully. Commodity businesses can earn
proEts through a consistent low-cost approach, but par'al di@eren'a'on can add cost without enough
customer value. Strong MO can create a superior value o@ering even around a basic product.
Why market orienta3on alone may not be dis3nc3ve
As more compe'tors become market-oriented, MO alone becomes less dis'nc've. It can remain necessary
for staying compe''ve while no longer being enough to stand out. The next challenge is to turn market
understanding into latent-need discovery and a beDer whole customer experience.
Figure 10. The eUect of MO can become less dis3nc3ve.
The ploDed sales/proEt associa'ons diminish over 'me. A capability can remain necessary while o@ering less di@eren'a'on
as compe'tors adopt it.
10
LITERATURE, LECTURES & READING QUESTIONS
, Topic 1:
Overview of development in
marketing thinking
,Topic 1
Development of marke3ng thinking
Marke3ng as an ac3vity and a philosophy
Marke'ng is both a set of ac'vi'es for crea'ng, communica'ng, delivering and exchanging customer value
and a business philosophy that starts with customers and markets. A narrow view focuses on planning
products, pricing, promo'on and distribu'on; a broader view includes delivering value for customers,
partners and society.
From exchange ac3vi3es to a value-oriented philosophy
AMA de?ni3on (1985): planning and execu'ng concep'on, pricing, promo'on and distribu'on to create
exchanges that sa'sfy individual and organisa'onal goals.
AMA de?ni3on presented for 2012: ac'vi'es, ins'tu'ons and processes for crea'ng, communica'ng,
delivering and exchanging o@erings that have value for customers, clients, partners and society.
– The emphasis broadens from managing transac'ons to a wider system of value crea'on and
delivery.
Produc3on concept: emphasise availability, eCciency and low costs.
Product concept: assume superior quality or performance will aDract customers.
Selling concept: ac'vely persuade customers to buy what the Erm produces.
Marke3ng concept: start with the needs of a selected audience and deliver more relevant value than
alterna'ves.
Figure 1. Evolu3on of the marke3ng concept.
Read from produc'on and product emphasis through selling to customer-oriented marke'ng. The change concerns the
star'ng point of business decisions.
Marke'ng has developed from product-centric to customer-/brand-centric, value-centric and
digital-/experience-centric thinking:
Product-centric: a generic slipper is bought primarily for its basic func'on.
Customer-/brand-centric: Havaianas adds a recognisable brand and associa'ons to the slipper.
Value-centric: Patagonia adds meaning through what the company stands for.
Experience-centric: Nespresso creates value through the complete co@ee experience, not only the
co@ee itself.
3
, Figure 2. Four emphases in marke3ng development.
Slippers, Havaianas, Patagonia and Nespresso illustrate product func'on, brand meaning, wider values and whole
experiences. Later emphases do not eliminate basic product value.
The basic logic remains customer orienta3on and di@eren'a'on through superior value. Moving from
transac'ons to rela'onships makes share of wallet important: how much of one customer's spending the
Erm captures, rather than only how much of the total market it captures.
Figure 3. From transac3ons to rela3onships.
Market share measures the Erm's posi'on across a market; share of wallet measures how much of one customer's relevant
spending it captures.
Figure 4. The marke3ng system expands.
Compare the linear supplier–Erm–distributor chain with more connected func'ons, channels and customers. Value delivery
increasingly requires coordina'on across actors.
Lecture focus: the customer and relevant alterna'ves are the star'ng point. A product has value when it
helps the target customer achieve something that maDers, and the Erm must make that beneEt dis'nc've
and deliverable. Nespresso's co@ee experience illustrates why the product alone is only part of the o@er.
4
, Figure 5. Segmenta3on and value diUeren3a3on.
First recognise di@erent groups and needs; then develop relevant dis'nc've value. Dividing a market without changing the
o@er is not enough.
Figure 6. A snapshot of marke3ng ac3vi3es.
The ac'vity mix shows the breadth of marke'ng work. Treat the reported percentages as a dated context snapshot, not as a
deEni'on of marke'ng.
Strategy forma3on: Dolan (2014)
A coherent marke'ng strategy connects analysis, decisions and outcomes. It is not strictly linear: choosing
retailers instead of direct distribu'on creates new ques'ons about partners, margins and customer access.
The marke3ng process
The wider marke'ng process comprises:
1. Strategy forma'on.
2. Planning.
3. Programming, resource alloca'on and budge'ng.
4. Implementa'on.
5. Monitoring and audi'ng.
6. Con'nuing analysis and research.
Market analysis: the ?ve Cs
The 5 Cs structure analysis:
1. Customer: understand needs, willingness to pay, beneEts, costs, trade-o@s and decision criteria.
– Decision-making unit (DMU): ini'ators, gatekeepers, deciders, inZuencers, purchasers and users.
– Decision-making process (DMP): how they search, evaluate and choose.
2. Company: assess the assets, exper'se and competencies needed to deliver the proposed value.
– A core competency contributes substan'ally to customer value, is hard to copy and can support
opportuni'es beyond one product.
5
, 3. Collaborators: iden'fy partners that supply missing resources or exper'se.
– Determine how to mo'vate and coordinate them.
4. Compe33on: analyse all alterna'ves customers regard as subs'tutes, not just Erms in the same product
category.
– Consider their posi3oning, capabili3es and likely responses.
5. Context: monitor technological, cultural, social, economic, poli'cal and legal developments that change
opportuni'es and constraints.
Who par3cipates in the buying decision?
The decision-making unit can involve several people, or one person performing several roles:
1. Ini3ator: Erst recognises or raises the need.
2. Gatekeeper: controls access to informa'on or suppliers.
3. Decider: authorises or makes the Enal choice.
4. In\uencer: shapes criteria, preferences or evalua'on.
5. Purchaser: carries out the transac'on.
6. User: consumes or uses the o@ering.
Aspira3on versus ac3on plan
The two strategy decisions are:
1. Aspira3on decision: STP.
– Segmenta3on: divide the market into meaningful groups with di@erent needs, preferences or
behaviour.
– Targe3ng: select which segments to serve.
– Posi3oning: deEne how the o@ering should be perceived rela've to alterna'ves and why it is
dis'nc've.
2. Ac3on-plan decision: the marke3ng mix.
– Product: create value.
– Promo3on: communicate value.
– Place: deliver value by making the o@ering available and accessible.
– Price: determine how much value the Erm captures.
Willingness to pay must ul'mately support the costs of producing and delivering the o@ering.
Making the four Ps work together
Product: features, quality, design, performance, branding, service and suppor'ng content deliver the
chosen beneEt.
Promo3on: adver'sing, salespeople, social media, public rela'ons, direct marke'ng, content, reviews
and WOM communicate value.
– Dis'nguish the o@er, reduce uncertainty and support purchase, reten'on and advocacy.
Place: direct channels, websites, showrooms, retailers, wholesalers and other intermediaries provide
access.
– Channels a@ect convenience, experience, margins, costs and control. Demonstra'on or complex
service can make direct selling aDrac've.
Price: captures value while reZec'ng willingness to pay, a@ordability, posi3oning and the proEt model.
– Customer willingness to pay > unit cost allows the possibility of a Enancially viable o@er; the actual
price must s'll support viable margins.
6
,Worked example: Peloton
Peloton illustrates alignment: the proposi*on is not simply an exercise bike, but home 6tness supported by
instructors, content, technology and community. Demonstra*ons help customers understand the o;ering;
subscrip*ons and engagement support reten*on. The customer problem, capabili4es, partners and
implementa*on must support the same promise.
Peloton addresses busy people's di@culty reaching a studio and securing a class. Live/on-demand instruc*on
and community bring that experience home. Manufacturing partners supply hardware capabili4es;
company-owned showrooms allow educa*on and trial. Compe**on includes studios, equipment and not
exercising at all. Instalment payments reframe the upfront sacri6ce; subscrip*ons make con*nued
engagement central to reten*on.
Element Main ques3on Components
Analysis What is happening in the 5 Cs
market?
Decisions What does the Erm want to STP and the 4 Ps
achieve, and how?
Outcomes What results does the Acquisi'on, reten'on, advocacy, sales, proEt and brand
strategy produce? strength
Figure 7. Strategy forma3on: analysis, decisions and outcomes.
The ?ve Cs inform STP and the marke3ng mix; customer responses then a@ect sales, proEt and the customer franchise. The
arrows connect choices to results.
7
,Market orienta3on: Narver & Slater (1990)
Market orienta3on (MO) is the organisa'onal culture that generates behaviours needed to create superior
buyer value and long-term superior business performance. It contains three interrelated behavioural
components:
Customer orienta3on: understand present and future customers and their value chains.
Compe3tor orienta3on: understand current and poten'al compe'tors, their short-term strengths and
weaknesses, and their long-term capabili3es and strategies.
Interfunc3onal coordina3on: use resources across func'ons together to create customer value.
Culture, behaviour and coordina3on
Long-term focus and pro?tability are underlying decision criteria. MO is not the marke'ng department's
responsibility alone. As behaviour, it involves genera'ng, dissemina'ng and using informa'on about
customers and compe'tors. A customer-Erst culture s'll considers other stakeholders and the Erm's long-
term viability.
Figure 8. Three components of market orienta3on.
Customer orienta3on, compe3tor orienta3on and interfunc3onal coordina3on surround a long-term proEt focus. All three
must support superior buyer value together.
For a di;eren*ated milk o;ering, customer orienta4on asks which bene6t the target values; compe4tor
orienta4on checks what other drinks already o;er; interfunc4onal coordina4on aligns product development,
produc*on, pricing and distribu*on so the promise is actually delivered. Having the insight without this
coordinated response is not enough.
Narver & Slater make MO concrete through its three components and show how it relates to pro?tability.
The crucial dis'nc'on is between commodity and noncommodity businesses.
8
,The two research objec'ves are to develop a usable measure of MO and to examine its rela'onship with
pro?tability, including di@erences between business types. Reliability and construct validity concern
whether the measure is consistent and captures the intended concept; the main strategic learning is the
proEtability paDern, not the sta's'cal procedure.
Commodity versus noncommodity: what customers perceive
A commodity business sells a largely standardised o@ering that customers see as interchangeable with
alterna'ves. Generic water and milk illustrate this: if customers perceive no meaningful di@erence, price
becomes decisive. Opera3onal excellence means producing and delivering the acceptable o@ering
eCciently, so the business can compete on low cost rather than expensive di@eren'a'on.
A noncommodity business gives customers reasons to choose one o@ering over another beyond price.
– Adding a valued Zavour, changing the colour/design or building meaningful brand associa'ons can
di@eren'ate an otherwise basic product.
– For example, generic milk illustrates the commodity logic; milk with a dis*nc*ve Mavour that a target
group values illustrates noncommodity di;eren*a*on.
– A visible di@erence only helps if customers actually care about it.
Commodity versus noncommodity is therefore not an unchangeable label aDached to a product category.
Water can be bought as an interchangeable basic product, or sold as a di@eren'ated o@ering through
relevant abributes, packaging, branding or convenience. The ques'on is whether buyers perceive a
meaningful di@erence.
Business type What customers mainly Route to pro?tability Rela3onship with market
compare orienta3on
Commodity Similar acceptable products; ECcient low-cost delivery, U-shaped: the middle
price becomes especially or genuinely valuable posi'on performs worst;
important di@eren'a'on/service high MO performs best, and
consistent low-MO/low-cost
businesses can also perform
rela'vely well
Noncommodity Dis'nc've beneEts and the Understand the target group Posi've: stronger MO is
Et with their needs and deliver relevant associated with greater
di@erences proEtability
Why pro?tability diUers between business types
Why the di@erence?
– Di@eren'a'on requires investment and organisa'onal alignment.
– A noncommodity business beneEts when customer knowledge, compe'tor knowledge and
coordinated delivery improve the relevance of its o@er.
– For commodity businesses, halfway di@eren'a'on can add costs without giving buyers a convincing
reason to pay more.
– The business is then neither the eCcient low-cost supplier nor a compelling di@eren'ated
alterna've: it is stuck in the middle.
High MO can s'll beneEt a commodity supplier by discovering what buyers value around the basic
product, such as a beDer Et with their opera'ons or dependable service.
– In the results, this high-MO group was the most proEtable.
– The U-shape does not mean that low MO is the best choice or that commodity Erms should ignore
customers.
9
, Figure 9. Market orienta3on and business performance.
The diagram dis'nguishes MO from business-speciEc and market-level inZuences. Pro?tability is not determined by customer
orienta3on alone.
Lecture focus: customer orienta3on means understanding buyers; compe3tor orienta3on means
understanding alterna'ves; interfunc3onal coordina3on means gejng the organisa'on to deliver value
together. Noncommodity businesses use this to di@eren'ate successfully. Commodity businesses can earn
proEts through a consistent low-cost approach, but par'al di@eren'a'on can add cost without enough
customer value. Strong MO can create a superior value o@ering even around a basic product.
Why market orienta3on alone may not be dis3nc3ve
As more compe'tors become market-oriented, MO alone becomes less dis'nc've. It can remain necessary
for staying compe''ve while no longer being enough to stand out. The next challenge is to turn market
understanding into latent-need discovery and a beDer whole customer experience.
Figure 10. The eUect of MO can become less dis3nc3ve.
The ploDed sales/proEt associa'ons diminish over 'me. A capability can remain necessary while o@ering less di@eren'a'on
as compe'tors adopt it.
10
