An interesting consideration here about how to leverage your core strategic asset(s) to diversify your consumer value proposition and appeal.
If you were head of strategic planning at Wal-Mart, what would you count among your core strategic assets?
One of the first and most obvious you might list is your size. Because you are so big, you can secure better pricing for your customers …Everyday Low Pricing…check, one of the most powerful and popular retail strategies to-date.
How can you be anything else to anyone else? It’s not so easy to then become relavant to fashionista’s and HGTV-star wannabe’s – for many reasons – but mainly because your most significant strategic asset is a liability to a consumer segment that values uniqueness and individual expression.
A more productive, and defensible and synergistic approach might be to look for opportunities where your core asset – in this case Wal-Mart’s size – meaningfully advances a cause your target consumer segment cares about. In this case, Wal-Mart’s commitment to the use of solar takes what could be a liability to a particular segment of the population and turns it around to be a showcase for the cause. I don’t know if it will drive sales at Wal-Mart, but it does diversify who thinks about the company and what they feel about them.
And it reminds me of some core strategic principles, namely that it is so powerful to “own” who you are – and build off of that – than to copy another company, another person, another strategy.
Susan O’Neal Gear has over 20 years of experience at the intersection of consumers, marketing and technology. Passionate about all aspects of a consumer’s relationship with brands and retailers, we’re spending the next year looking for new, groundbreaking thought leadership – if not disruptive solutions – with the potential to redefine the parameters of consumer loyalty. If you also want to see some game changing happen -then follow Upstream Insight, contribute your voice, share this post…do something!