Marketing strategy innovators are unlocking enormous value and creating leadership in their industries. Their success reflects an insightful response to new customer behavior as well as an ability to capture the potential of new marketing technologies.

In many cases, these marketers are shifting away from a traditional marketing approach that focuses solely on functional benefits such as quality or reliability. By highlighting and enhancing process and relationship benefits, marketing innovators are creating superior value for customers.

Start with the Customer
When we help a client with its strategic development process, our fundamental focus is on understanding current and emerging customer needs. Over the past 2 years, McKinsey has been involved in more than 300 marketing strategy engagements across a wide variety of industries. This involvement provides us with unique insights into customer needs and how they are changing.

At the same time, our ongoing research partnerships provide us with specific insights into emerging needs and support our development of innovative customer-driven strategies for clients. We also draw on our in-depth understanding of key marketing levers to ensure we help craft creative yet readily implemented strategies.

“3-D” Marketing Solutions
While each client situation is unique, our strategy development approach begins with a thorough understanding of customer segments and their needs across three crucial benefit dimensions – functional, relationship, and process – an approach we call “three-dimensional” marketing. We creatively analyze options for our client, assessing ease of implementation and profit impact to derive the best strategy.

Drawing on our expertise in pricing, branding, sales force management, and CRM, we then apply innovative ideas – using specific tactics and a rich understanding of technologies – to create an implementable marketing strategy.