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Low cost competitors, who offer "good enough" products
and services at very attractive prices, are currently significantly
impacting the businesses of many leading companies, and some are
starting to "move up" to challenge the traditional
companies in their core markets. It's only a matter of time
before most companies will feel the pressure from these aggressive,
cut-price competitors. Beating Low Cost Competition
offers a step-by-step structured approach to help
executives in traditional companies with premium brands think
through the options for responding to their low cost rivals and
select the most appropriate strategy to win in their chosen
markets.
By examining a wide-ranging group of companies from around the
world, Adrian Ryans provides numerous examples of how different
companies in different industries have responded to low cost
competitors and analyses the effectiveness of their strategies. He
also discusses the leadership and cultural challenges that many
companies are facing as they take steps to respond to their low
cost rivals.
Ultimately, the insights gained from this book will lead to
better and more profitable business decisions.
Adrian Ryans is Professor of Marketing and Strategy at IMD,
Lausanne, Switzerland. He has designed and taught on executive
programs for organizations in North America, Europe, Australia and
Asia, including GE, Bank of Montreal, Medtronic, Deloitte,
Borealis, Saurer, Vestas, IBM, Boeing, National Semiconductor,
BioWare, ASML, Holcim, Varian, Hoechst, Amgen, Fluke, LSI Logic,
Hutchison Port Holdings and Qualcomm. He has also acted as a
consultant for a number of leading global corporations.
Auteur
Adrian Ryans is Professor of Marketing and Strategy at IMD, Lausanne, Switzerland. He has designed and taught on executive programs for organizations in North America, Europe, Australia and Asia, including GE, Bank of Montreal, Medtronic, Deloitte, Borealis, Saurer, Vestas, IBM, Boeing, National Semiconductor, BioWare, ASML, Holcim, Varian, Hoechst, Amgen, Fluke, LSI Logic, Hutchison Port Holdings and Qualcomm. He has also acted as a consultant for a number of leading global corporations.
Résumé
Low cost competitors, who offer good enough products and services at very attractive prices, are currently significantly impacting the businesses of many leading companies, and some are starting to move up to challenge the traditional companies in their core markets. It's only a matter of time before most companies will feel the pressure from these aggressive, cut-price competitors. Beating Low Cost Competition offers a stepbystep structured approach to help executives in traditional companies with premium brands think through the options for responding to their low cost rivals and select the most appropriate strategy to win in their chosen markets.
By examining a wide-ranging group of companies from around the world, Adrian Ryans provides numerous examples of how different companies in different industries have responded to low cost competitors and analyses the effectiveness of their strategies. He also discusses the leadership and cultural challenges that many companies are facing as they take steps to respond to their low cost rivals.
Ultimately, the insights gained from this book will lead to better and more profitable business decisions.
Adrian Ryans is Professor of Marketing and Strategy at IMD, Lausanne, Switzerland. He has designed and taught on executive programs for organizations in North America, Europe, Australia and Asia, including GE, Bank of Montreal, Medtronic, Deloitte, Borealis, Saurer, Vestas, IBM, Boeing, National Semiconductor, BioWare, ASML, Holcim, Varian, Hoechst, Amgen, Fluke, LSI Logic, Hutchison Port Holdings and Qualcomm. He has also acted as a consultant for a number of leading global corporations.
Contenu
Contents
Preface
Acknowledgments
1 The Growing Challenge from Low Cost Competitors
The Challenge is Real and It is Here to Stay
Retailing
Airlines
Banking
Fast-moving consumer goods
Consumer electronics
Business-to-business products and services
In Many Industries the Major Threat is Coming from Asia
Many Customers Prefer Good Enough Products and Services
Low Cost Competition Is Not All Bad News
Understanding and Responding to the Challenge of Low Cost Competition
2 Why the Threat from Low Cost Competition is Intensifying
Value Propositions Have Three Core Elements
Performance value
Price value
Relational value
One core value proposition is usually emphasized
The relative size of the different value segments may evolve over time
Product category life cycles are getting shorter
The Traditional Integrated Business Model is Disintegrating
Three core processes underpin any business
Giving balanced attention to all three core processes can lead to conflict
Companies are leveraging the specialized players
Companies with focused business models are playing a much bigger role in many industries
Many more companies are opening their business models
But there are significant risks in relying more on strategic partners
Total solution coordinators are helping some companies leverage these networks
Growing Support for Low Cost Competitors
Low cost entrants sometimes have powerful supporters
Customers are increasingly willing to buy from low cost players
Challenge Questions
3 Understanding How Low Cost Competitors Play the Game
Ryanair
Performance has been outstanding
Value proposition is crystal clear
Business model is innovative and focused
Extreme focus on cost control
Created a virtuous cycle
So far . . . so good
ING DIRECT USA
Borrowed with pride
Appealing value proposition
Early success
Competition finally responds and ING DIRECT raises the stakes
Learning from Low Cost Competitors
Question every element of the traditional business model
Have very simple and straightforward value propositions
Avoid complexity at any cost
Break through the communication clutter
Be a cost innovator
Remember that the customer is not always right
Have the courage to drop prices significantly below competition
Traditional Players Can Learn from Low Cost Competitors
Challenge Questions
4 Realistically Assessing the Threat
Some Industries Are Less Vulnerable to the Low Cost Threat
Why Companies Fail to Respond to the Low Cost Threat in a Timely Manner
The low cost threat is underestimated
The low cost threat often takes time to gain momentum
Sometimes it is the second-order effects that have the biggest impact
Realistically Assessing the Threat ... and the Opportunity
Beat my business exercises can be a useful tool
Identifying actual and potential low cost competitors is key <i&...