The Secret to Success: Create Value (Part 1)

As we discussed in the first post, the very heart of marketing is value creation. In fact, this leads us to the key marketing principle that serves at the foundation of all marketing activities: Optimizing value for the business, its collaborators, and its customers. A business’s success is reliant on value optimization. Because this is the fundamental marketing principle, value management is at the forefront of designing a marketing strategy and tactics.

The process by which a business creates value can be explained by the following set of five key activities:

    

Figure 1: G-STIC Framework

Congratulations! We’ve just been introduced to our first framework. This process for creating value is also known at the G-STIC framework for action planning. In our next post, we will discuss these elements in greater detail.