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Digitally Enhancing Market-facing Processes

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Competitive Digital Innovation

Part of the book series: Palgrave Executive Essentials ((PEE))

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Abstract

In this chapter, we discuss how a business can use digital technologies to transform its market-facing processes. Even if a business continues to offer the same products and services, it can build competitive advantage by digitally enhancing the key transaction and decision support processes that it uses to access and serve its markets. We also explain how to operationalize market-facing process support and illustrate this by means of extended examples of the Dow Corning Corporation and Philips Lighting-Signify.

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Notes

  1. 1.

    Ajit Kambil, Eric van Heck, (1998) Reengineering the Dutch Flower Auctions: A Framework for Analyzing Exchange Organizations. Information Systems Research 9(1):1–19.

  2. 2.

    https://uk.coach.com/klarna-faq.html?hp=text_coach_services_klarna Accessed August, 19, 2022.

  3. 3.

    BNPL providers make money by charging the retailer a 4% commission, and paying 2% fees to other payment companies, incurring a 0.5% average funding cost, and facing credit losses of 1.2%, leaving them with a 0.3% gross profit (before operating costs). For big transaction volumes, this can be very profitable, but credit losses could be higher (Klarna had credit losses of 1.9% of customer lending in Q1 2022). (Source: Financial Times, Buy now, pay later must be regulated—now, June 6, 2022).

  4. 4.

    Chris Anderson, “The Long Tail”, Wired Magazine, Oct 1, 2004.

  5. 5.

    https://trendslab.dow.com/

  6. 6.

    https://www.digitalcommerce360.com/2019/10/03/how-dow-gave-customer-experience-a-makeover/; https://chemicals.bestpracticeconferences.com/event/digital-innovation-powering-customer-experience-transformation-easy-effective-enjoyable/

  7. 7.

    https://www.digitalcommerce360.com/2018/12/17/dow-chemical-opens-an-online-store-on-alibabas-1688-portal/

Author information

Authors and Affiliations

  1. Edwin L. Cox School of Business, Southern Methodist University, Dallas, TX, USA

    Amit Basu

  2. Vlerick Business School, Ghent University, Ghent, Belgium

    Steve Muylle

Authors
  1. Amit Basu
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  2. Steve Muylle
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Correspondence to Amit Basu .

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Basu, A., Muylle, S. (2023). Digitally Enhancing Market-facing Processes. In: Competitive Digital Innovation. Palgrave Executive Essentials. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-23440-8_2

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