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QICID: 20707
Title: Market Focused, Value Driven - It's All About Gaps
Copyright: 2006, ASQ
Author: Reidenbach, Eric; Goeke, Reginald
Organization: Market Value Solutions, State College, PA
Subject: Business performance,Critical values,Customer and market focus,Gap analysis,Market segmentation,Quality tools,Six Sigma,Value analysis;
Series: Quality Progress, Vol. 39, No. 9, September 2006, pp. 37-44
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Abstract: Value is a leading indicator of market share and profitability. Six Sigma is a tool organizations can use to increase their value leadership. Because value gaps among competitors are defined by customers of all competing organizations, it is the voice of the market (VOM), not just the voice of a single organization's customers, that must be measured and used to identify the value gaps and the processes that produce them. When used for this purpose, Six Sigma becomes a process for understanding the nature of the gaps, prioritizing their importance, and linking them to specific processes. Using the VOM's definitions of value will raise the application of Six Sigma tools to a level that results in revenue and market share gains and that identifies the right costs to reduce without diminishing the organizations ability to deliver superior value.
Number of pages: 8
Price for ASQ Members: $5.00
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