Books I Want Cheap

Summary of summaries that I recently read.

MarketBusters by Rita Gunther McGrath and Ian C. MacMillan -- Marketbusting is described as an action taken by a company that gives it a decided edge on its industry peers. This book offers five core marketbusting strategies, and lists forty supporting moves that a company can take within those strategies to go gangbusters on the competition. It's aimed at the executive types that actually work on strategies that steer businesses -- but, as I was reading the summary, I was thinking of it from my perspective, and on how I can apply some of the thinking with respect to my internal customers. If you're a department within an organization, think of these strategies as proactive steps to prevent yourself from being outsourced.

The five strategies and related moves:

Transform your customer's experience. Moves: 1) Replace the existing consumption chain with an alternative. 2) Use technology to combine or replace links within a chain. 3) Make some links within the chain, smarter. 4) Eliminate bottlenecks in the links of the chain. 5) Monopolize the events that trigger the start of the chain.

Transform your offerings. Moves: 1) Improve the things your customers find positive. 2) Eliminate the things your customers find annoying. 3) Break up existing segmentation of customers. 4) Infuse offering with empathy. 5) Add a compelling parallel offering. 6) Make things simple. 7) Get the value you deliver.

Redefine key metrics. Moves: 1) Radical change to the unit of business. 2) Radical improvements to productivity. 3) Improve cash flow velocity. 4) Use assets differently. 5) Improve customers key metrics. 6) Improve customers personal productivity. 7) Help improve customers cash flow. 8) Help improve customers quality.

Exploit industry shifts. Moves: 1) Move beyond industry swings. 2) Capitalize on the effects resulting from industry cycle shifts. 3) Launch disruptive responses to industry cycles. 4) Exploit shifts in industry constraints. 5) Capitalize on the effects resulting from constraints. 6) Disrupt an industry during a shift in a key constraint. 7) Exploit industry structure for the next lifecycle stage. 8) Understand second-order effects of next stage. 9) Redirect, disrupt or alter the evolutionary trajectory. 10) Exploit a shift in the value chain. 11) Exploit second-order shifts in the value chain. 12) Reduce costs or constraints to disrupt value chain.

Exploit emerging opportunities. Moves: 1) Shift a dimension of merit. 2) Create market via cautious evangelism. 3) Build a better mousetrap. 4) Do inventive missionary work. 5) Make a land grab. 6) Create a niche to win. 7) Run the arms race. 8) Bet on blue-sky ventures.

I realize that a lot of these moves are going to be useless without the context -- for that, you'll have to read the book -- or if you're lazy, the book summary. And before you off half-cocked, realize that planning something, and doing it, are two completely different things. You can have the greatest plan and still fail with the execution.


According to Kotler by Philip Kotler -- This book is written by the supposed, "world's foremost authority on marketing." From the summary, it looks like it would be a very easy read, full of insights and relevant industry examples -- and would be a good start for someone getting into the marketing industry. I like Kotler's definition of marketing's mission: "to sense people's unfulfilled needs and create new and attractive solution." From answering some basics about marketing, he moves on to issue some forecasts on industry trends, then describing why brands and brand building is so important and concluding with short trestle on the importance of service. This book is definitely on my "get cheap" list!


The Loyalty Advantage by Dianne M. Durkin -- The premise of this book is rather simple: "Employee loyalty drives customer loyalty which drives brand loyalty." How very true -- and it's one of the biggest factors management could influence to allow their business to make more money. When people feel that they are contributing, making a difference, they're happier -- and happier employees are smarter -- basic biology -- which is quite the opposite when you look at employees working for pointy haired bosses and companies that don't value their contribution. Employees in those companies are unhappy, stressed out, make more mistakes and generally don't care.

The book offers five steps that a company can take to build loyalty in employees, customers and other stakeholders. Again, without the details in the book, some of this will be completely out of context -- the summary is helpful, but I think I will have to get the book. And again, this book talks to the executive types -- but the lessons in it can also be leveraged by anyone with employees reporting to them. The steps:

Assess your company's current situation and target your stress points. You don't actually have to wander far from your department to sense how things are going. Realize that at the department level, some things may be doable -- and some are just way outside your control.

Create focus and strategy through shared vision, values and positioning. At the department level, even if you don't agree with some of the crazy stuff going on, you can at least turn to the vision and values that are in place. Those are usually well thought out, and can hold their own despite the storms that may rage around them.

Use communication to develop credibility and support. I think it takes more than communication. It takes action, but you also have to communicate that action is happening. Too often there are a lot of words, but no proof in the pudding -- cause there's no pudding.

Establish an infrastructure for success. This is all about ensuring that the people, processes, tools, etc., that are in place, are the right ones. There's no need to marshal the troops to head into battle if there's an insurmountable wall in the way.

Foster ongoing success through continuous evaluation and feedback. This is so important. If you leave things, the environment will change and what was once the right thing may no longer work. You would never know unless you ask.

To ensure there is loyalty there, that your business can thrive, is to have leadership. Without it, there's just a lot of floundering. I'm definitely going to have to get this book.