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The New Market Leaders: Who's Winning and How in the Battle for Customers Paperback – September 10, 2002
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From Publishers Weekly
Copyright 2001 Cahners Business Information, Inc.--This text refers to an out of print or unavailable edition of this title.
From Library Journal
Copyright 2001 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
Top Customer Reviews
The companies in the study are compared to the Fortune Most Admired List. The companies outlined here are much more consistently interesting than the aging behemoths losing market share that the Most Admired list carries. Looking at 5009 companies, 640 were identified as being high in gaining market share (growing much faster than competitors) and in stock price (having a higher market capitalization/sales ratio than competitors). The top names you will recognize: Cisco, GE, Microsoft, Intel, Yahoo!, Home Depot, Wal-Mart, Oracle, Nokia, and AOL Time Warner. If you follow technology stocks, most of the rest will also be known to you. These include companies whose stocks have fallen mightily like JDS Uniphase, Dell, QUALCOMM, Hewlett Packard, Lucent, PMC-Sierra, and At Home.
The book makes many observations about the new economy.Read more ›
The author starts out by establishing the evaluation criteria that got a company into the study and he coins two new terms to describe these criteria - sales growth index and market value index (details of these terms on pages 7-13 of the book).
The author then summarizes the industries in which all these companies fall under - Consumer Products, Media and Entertainment, Heavy Industry, Technology Products, Technology Services, Financial Services, and Other Industries (healthcare, consumer services, and other).
A whole chapter is then dedicated to why we are feeling a scarcity of customers. The author names the reasons for this sitaution (new realities) - competitors proliferate, all secrets are open secrets, innovation is universal, information overwhelmes and depreciates, easy growth makes hard times, customers have less time than ever. He does a good job of justifying these obvious reasons with some supporting data.
So, if the new realities are that harsh, how are the market leaders managing? The author describes FOUR STRATEGIES that seem to work for these market leaders in overcoming the obvious difficulties in these days of customer scarcity. The four strategies being -
1. being the best and showing it
2. the customers who can make or break you
3. making sure customers 'get it'
4. outsized ambition.Read more ›
However, even though novel, I was not very comfortable with that classification. I personally consider that there are more than four broad categories regarding purchasing behaviour. This is actually what microsegmentation is about. So, instead of trying to force your strategies into those four categories, one should try to identify many many more behavioral patterns with respect to her own customers. So, instead of emulating the strategies of the market leaders and forcing your customers to fit in any one of those categories, maybe you should better to microsegment them and try to figure out as many distinct purchasing behaviours as possible, and only then maybe use the insights given in the book. In other words, the insights that Mr Wiersema provides us with are good, but regarding strategising, the model he offers is not useful and actually very restrictive.
Also, if you read other books which describe the strategies of the same companies there, e.g. Charles Schwab, ... etc., you will end up finding other explantions regarding their strategies. I believe, truly understanding your customer and distinguishing among them similar purchasing behavior and strageizing on top of this are they keys to success.
This second review, however, does not refute my earlier point that the book is not based on an in-depth study of 5000 companies at all.Read more ›
Most Recent Customer Reviews
I listened to the audio CD's of this book. There are some insights that are valuable. Ultimately, what got me is that the magic formula (which seemed well grounded in data and... Read morePublished on October 21, 2005 by Derrik Mantel
This book did have a few interesting observations about customers, however it was tedious wading through the pages and pages of descriptions, examples and flowerly language. Read morePublished on December 6, 2001 by Aaron Ades
Wiersema's book is based on a research theory that if you identify leading companies you should be able to extract lessons that should be applicable to other companies. Read morePublished on November 21, 2001
Great Book. This book gives a wonderful perspective on why the market is so competitive. The ideas around "stretch customers" give a practical guide on how to fuel... Read morePublished on October 5, 2001 by John Rogers
With his study of over 5,000 companies, Wiersema has identified who the market leaders really are. While some of the leaders are well known like GE, Home Depot or Wal-Mart, there... Read morePublished on October 4, 2001
Who's winning (and why and how) in the battle for customers has never been more timely or important. Nor has it ever been tougher to document. Read morePublished on October 1, 2001
Dr. Wiersema's book is valuable information for those looking to better understand how to frame up their position within an increasingly competitive market. Read morePublished on October 1, 2001
In a turbulent economic time when everyone is seeking answers to questions about the future and which companies are going to survive and thrive, Wiersema's book provides an... Read morePublished on September 27, 2001 by Jenna Held
Dr. Wiersema's perspectives on responses to customer scarcity are right on target with current market conditions. Read morePublished on September 26, 2001