July 2012 | Nano Tools | Strategy
Contributor: Ian MacMillan, The Dhirubhai Ambani Professor of Innovation and Entrepreneurship; Professor of Management; Director, Sol C. Snider Entrepreneurial Research Center, The Wharton School
Build ongoing competitive advantage by knowing what your customers care about most.
An Attribute Map is a highly effective tool for assessing your customers’ real needs and desires. It simplifies the complexity of your customers’ reactions to your product or service and your position with respect to competitors. Attribute maps let you clearly see where additional resources could have the greatest impact and give you objective information about the likely consequences of a move.
Part One of this Nano Tool offered steps for creating an Attribute Map. Here, we explore three specific ways to mine your attribute map for a “marketbuster” — an exceptional opportunity for growth.
The following examples illustrate how organizations, through careful analysis of a customer segment, added differentiators and empathy, and eliminated complexity, to better meet those customer’s needs and desires.
Nano Tools for Leaders® was conceived and developed by Deb Giffen, MCC, Director of Innovative Learning Solutions at Wharton Executive Education. It is jointly sponsored by Wharton Executive Education and Wharton’s Center for Leadership and Change Management, Wharton Professor of Management Michael Useem, Director. Nano Tools Academic Director, Professor Adam Grant.
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