Received from Hype O’Thermia
Sun, 8 Jun 2014 at 11:11 am
Strategy guru, Harvard Business School professor Michael Porter was speaking at the World Business Forum in Sydney on Wednesday and highlighted two key features of a good business strategy.
“….1. Choose a distinctive value proposition.
Porter says leaders must decide which customers they are serving and then work out what are the needs of those customers that the business is a “master” at fulfilling.
“We can be pretty good at some things, but what are we going to stand out on? Customer services? Product design? Customisation? Which particular needs of that set of customers do we really want to meet and what price will we ask?”
Leaders should decide what the value proposition is and how it compares with competitors.
“Because, unless we have a unique value proposition, unless we have different answers to these questions than our competitors, then we have no strategy. We are just competing on operational effectiveness,” he says…..”
The university / rugby / stadium would do well to look at that and ask how their “marketing” lines up with that sensible advice.
Tourists and other visitors do not come here for a stadium. Some come here to watch a game, a concert. Where it is held is of little importance. When it’s what they want to see – it’s what they want to see.
Over-filling accommodation and eats and drinks venues once in a while is poor business. It’s a big boom, long bust strategy. It’s temp staff working their guts out, then days and weeks, possibly months, of having short hours and thin paydays.
Amusements as an attraction to students is likely to attract young people who are more interested in prolonged privileged adolescence than the quality of the teaching and research available. Fostering these people as bar clients is an effective way of parting them from their money, at some cost to the rest of us in terms of messy antisocial behaviour, and isn’t doing them any long-term favours. We have seen something in the drive to cater to students, that is not unlike the cynical placement of disproportionate numbers of pokies in low-income suburbs.
Posted by Elizabeth Kerr
Filed under Architecture, Business, Concerts, DCC, Democracy, Design, DVML, Economics, Events, Fun, Geography, Heritage, Innovation, Inspiration, Media, Name, New Zealand, Otago Polytechnic, People, Politics, Project management, Property, Sport, Stadiums, Tourism, University of Otago, Urban design
Tagged as Accommodation, Amusements, Bars, Business, Chamber of Commerce, Customers, Dunedin, Dunedin Visitor Strategy, Economic development strategy, Entertainment, Harvard Business School, Local government, Michael Porter, Money, Multipliers, Octagon, Point of difference, Rugby, Social responsibility, Stadiums, Strategy, Strengths, Uniqueness, University, Venues, Vusitors