Академический Документы
Профессиональный Документы
Культура Документы
Assignment#4:ValuesdisciplinesbyTreacyand
Wiersema
Coursename:
Marketing
Lecturer:
Mrs.ChiYeunGulickxLee
Team
:
Number5
Class:
IB05
GroupmembersandStudentNr.
Name,Lastname
StudentNr.
AntoniaStoyanova
1683139
MehmetYilmaz
1686782
NadhiraAlchatib
1687089
DianaCazacu
1680188
TableofContents
Tableofcontents
.pg.1
Marketingweek4
Assignment#4:TreacyandWiersemaModel
Question1pg.2
Question2....pg.2
Question3.pg.3
Question4.pg.3
Bibliography
..pg.3
ValuedisciplinesbyTreacyandWiersema
Question1:ComponentsoftheTreacyandWiersemamodel
AccordingtoTreacyandWiersema,therearethreedifferentvaluestrategiesthatorganizations
usetocreateaddedvalueanddifferentiationfromitscompetitors.Theydistinguishthefollowing
strategies:
1. OperationalExcellence
2. ProductLeadership
3. CustomerIntimacy/CustomerPartnership
ThetheoryofTreacyandWiersemaisausefultoolinformulatingastrategyforanenterprise
(bySBU).Choosingavaluetobefollowedstrategyplaysanimportantroleinthestrategic
marketing.
1.Operationalexcellence
Outstandingperformanceofoperationalprocesses.
2.ProductLeadership
Thequalityoftheproductisatthecenter.Developinginnovativeproductsisthepremiseofthe
organization.TheR&Ddepartmentisveryimportantandthereisoftenarelativelyyoung
market.
3.CustomerIntimacy/CustomerPartnership
Therelationshipwiththecustomerisking.Theorganizationexcelsinrelationshipmarketing.A
customerrelationshipmanagement(CRM)programplaysanimportantrolehere.The
organizationspursueapartnershipbecausethecustomersdonotbelieveinonetime
transactions,butinlongtermrelationships.
Question2:ThetheorybehindtheTreacyandWiersemamodel
TheValueDisciplinesmodelbyMichaelTreacyandFredWiersema
describesthreevalue
disciplineswiththehelpofwhichorganizationscancreatevalueanddistinctivecharacter
relativetoitscompetitors
operationalexcellence
whichfocusesonprovidingreasonably
highqualityproductsandservicesataverylowprice,
customerintimacy
whichhasastrong
customerfocussincetherelationshipwiththecustomerplaysthemostimportantrole,and
productleadership
whichfocusesonthesearchfornewproducts,newmarketsandnew
techniques.Anycompanyshouldchooseoneofthesevaluedisciplinesandfocusonit,which
playsanimportantroleinstrategicmarketingplan.
ItisnearlyimpossibleforacompanytobegoodateverythingsoTreacyandWiersemasuggest
thatinordertobeamarketleaderanenterprisemustexcelinonlyonedisciplinewhereitaims
tobethebest.Thisdoesnotmeanthattheothertwodisciplinesshouldbeignored,butthatthe
companyshouldstrivetomaintainrelativelyhighstandardsintheothervaluedisciplinesas
well.Foranorganizationitisofgreatimportancethatitoffersuniquevalueinordertosucceed,
whichcanbedonebyfocusingonacertainarea.Valueisdefinedbythecustomerandit
includesallaspectsofthecustomerexperienceofbuyingaproduct.TreacyandWiersema
emphasizedthefocusonthecustomerrelationshipbydescribingtheCustomerIntimacyvalue
discipline.
2
Question3:WhatvaluedisciplinedoesStarbucksexcelat?
Whenitcomestovaluediscipline,StarbucksfocusesontwoofthethreestrategiesProduct
leadershipandCustomerintimacytogainacompetitiveadvantageonthemarket.The
companyprovidesitscustomerswiththebestproductandservice,whilemaintainingproficient
performanceinbestprice.Furthermore,thecompanyisveryinnovativeandmovesquicklyfor
developingnewproductsforitscustomers,evenatthecostofdestroyingexistingproducts.
Subsequently,Starbucksspecialisestouniquecustomerwantsandneeds,thiswaythe
corporationcanbuildlongtermcustomerloyalties.ByresearchingStarbucksannualreportof
2014,itisclearthatthecorporationstillholdstheirpositionasthebestcoffeesellingfirm.
CoffeestoresintheU.S.evencompeteswithrestaurantsandotherspecialtyretailersforretail
locationsandqualifiedpersonnelfortheirstores.
Question4:Howisthisappliedinpractice?
Tobeginwith,inordertoachievethefirstvaluedisciplineoperationalexcellencecompanies
needtominimizethecostsofproductionandtoeliminatealltheunneededproductionsteps.
Moreover,theyaimtheirattentionatofferingproductsandservicesfortheircustomersat
competitivepricesandwithleastpossibleinconvenience.Tocontinuewith,thoseorganizations
thatpursuethecustomerintimacystrategy,firstofall,needtomakeamarketsegmentationin
turntopreciselyidentifythetargetmarketandthenstriveforcreatingproductsandservicesthat
wouldmatchexactlycustomersneedsandwants.Asfarasthethirddiscipline,product
leadership,isconcerned,companiesmuststrivetocomeupwithproductsandservicesthatare
leadingedgeandinnovativeinordertostayontopoftheircompetitors.Theyareableto
implementthisstrategythroughcreativitytheabilitytotransformquicklythenewideasinto
productsandservicesandlastly,throughdevelopingnewsolutionstotheirlatestproductsand
servicesissues.
Reflections:whatdidwelearn?
Inordertobecomeamarketleader,acompanymustaimtoexcelatonlyonevalue
discipline.
Incontrast,consideringthatStarbucksannualreports,itittounderstandthattheother
twovaluedisciplineneedtobetakeninconsiderationwhenoperatingabusiness.
Bibliography
1. Treacy,M.,&Wiersema,F.(1993).CustomerIntimacyandOtherValueDisciplines.
RetrievedDecember6,2015,from
https://hbr.org/1993/01/customerintimacyandothervaluedisciplines
2. AnnualReports.(2014,September28).RetrievedDecember6,2015,from
http://investor.starbucks.com/phoenix.zhtml?c=99518&p=irolreportsannual