Playing to win: How strategy really works

by A.G. Lafley

is there some competitive response that could undermine or trump the where-to-play and how-to-win choices?

First, look to understand the industry in which you play (or will play), its distinct segments and their relative attractiveness.

Next, turn to customers. What do channel and end consumers truly want, need, and value—and how do those needs fit with your current or potential offerings?

After customers, the lens turns inward: what are your capabilities and costs relative to the competition? Can you be a differentiator or a cost leader?

Finally, consider competition; what will your competitors do in the face of your actions?

A winning strategy is a win-win-win; it creates value for consumers, customers, and the company.