The Customer Value Attribute Map is an essential tool to help you focus on establishing and maintaining a competitive advantage based on differentiation (i.e being different in ways which matter to the targeted customers.)
It goes by different names:
- W. Chan Kim and Renee Mauborgne call it the Strategy Canvas in Blue Ocean Strategy, (This is probably the most famous of the names due to the popularity of the book.)
- Cliff Bowman calls it the Customer Matrix in Competitive and Corporate Strategy,
- I call a Customer Value Attribute Map (because I feel that’s the most descriptive) and
- others call it a Customer Value Matrix.
It doesn’t really matter what you call it as long as you use the basic concept to get crystal clear about what particular customer segments or niches want and what you and your closest competitors offer. This way you can see areas where you are better than them, where they are better than you and where one of you offers a unique attribute.
Just don’t confuse it with the Customer Value Map which shows the fair value line of value for money between low price, low value brands and high price, high value brands and where your business lies in relation to that fair value line. [continue reading…]
When I posted my review of
Strategy In Practice by Cliff Bowman
to Amazon.co.uk, I gave the book Four Stars.
This means I think it is Good and Well Worthwhile.
Here is my book review.
A very practical guide to strategy for senior managers
This is a book for managers who contribute to the strategy debates going on within their businesses. It is very different from many of the strategy texts which are either written for MBA style students or for strategy experts.
Cliff Bowman is Professor of Strategic Management at Cranfield University in the UK. He is also the co-author of probably my favourite book on strategy, “Competitive & Corporate Strategy” – a lost classic. [continue reading…]
Competitive and Corporate Strategy by Cliff Bowman and David Faulkner
Book Review Rating – Five Stars
This is a terrific book.
I believe it may be the best book ever written about business strategy.
It is even better than Michael Porter’s exceptional books “Competitive Strategy” and “Competitive Advantage” which are very comprehensive but I don’t think anyone would describe them as “easy-reads”.
Is Competitive and Corporate Strategy Really That Good?
In my opinion, Yes.
I can’t imagine being without it and the ideas on the customer matrix and producer matrix have gone into my coaching with some variations. [continue reading…]