Profitable growth does not come easily for manufacturers. They face challenges from weakness in emerging markets and global oversupply in commodity industries while industrial customers expect customization to meet their specific needs. Sluggish market growth increases the pressure to find new ways to drive market share gains.
In the first of a series on how manufacturing companies can improve their commercial capabilities to drive growth, this Executive Insights outlines L.E.K.’s views on the capabilities required for customer- and outcome-centricity, and delves into the steps that industrial manufacturers can take to reach these end states successfully including:
- Defining which customers to target and problems to address
- Assessing your abilities and what is required to win
- (Re)Designing the commercial organization
- Leading the change to drive the transformation from product-centricity to customer- and outcome-centricity