Most of those who visited a business school have been exposed to the market planning process.
It’s simple and straightforward, analyse the market, segment it, find the right spots and then target!
Simple steps, when followed through consciously, will make your endeavours effective.
Not per se efficient.
That’s something else.
And here is the issue.
It appears to me that in business there is an overemphasis on efficiency. How to operate faster, with sophisticated tools preferably. There is a strong focus on doing more tasks, and doing them in a shorter timeframe.
There are many examples to find. Look at sales. How does your funnel evolve? Is the size the right size? How many deals have you closed? How many visits did you do this week? How many calls did you do (today…)?
We generally do understand how to seperate out lead-measures from lag-measures.
But did we target the right set of customers? We might think we did. But the chances are that you’ve spend relative little time to analyse the customer reference data.
In many companies this process of segmentation and planning is done in a rush. Often using the ‘accountlist’ approach, rank revenue and deploy resources…
Just 1 example of how to go efficiently in the wrong direction.