Turbulent times require a firm anchor point from which to lead your organization. Today’s business leaders demand speed and agility, require specialized skills, are engaged in the end-to-end customer life cycle, and expect technology to directly influence shareholder value—which may require a fundamental shift from traditional, centralized IT to a distributed thin IT,” in which technologists are embedded in business areas.
He used an example of retail department stores, where their theory of the business assumed that people who could afford to shop in department stores would do so. However, many shoppers abandoned department stores in favor of specialty retailers (often located outside of malls) when time became the primary factor in the shopping destination rather than income.
This step sounds easy but we find that companies are often so concerned about getting too narrow in their focus that they fail to become really clear about what they want to do. A company with a good business strategy will have thought through these issues and made the hard decisions necessary to clarify its identity.
To be most effective, the plan has to be formalized, usually in written form, as a formal “marketing plan.” The essence of the process is that it moves from the general to the specific; from the overall objectives of the organization down to the individual Objective (goal)action plan for a part of one marketing program.
Netflix’s case is somehow comparable to that of Spotify’s business model, generic strategy, and intensive growth strategies , although there are differences in terms of product characteristics, competitive advantages, and how the business operates in providing streaming services.