I had the chance to sit down with Mark Carr, the managing partner of our new sister company, South Street Strategy Group. Mark and I had a great conversation about South Street and all the “why’s and how’s” behind this new endeavor.
What makes this strategy firm different?
Simply said, it’s our approach that makes us different. South Street Strategy Group was formed with the belief that combining the best of strategy consulting with state-of-the-art marketing science produces better, more practical, and more differentiated strategies for our clients. With other strategy firms, you often get smart consultants with great frameworks, but resulting strategies aren’t always grounded in the best marketing science. At South Street we differentiate ourselves by offering the strategic recommendations that combine those great frameworks and analyses, and backs those recommendations in fresh insights and the strongest possible fact-basis.
What do you mean by “state-of-the-art”?
I’m saying that our methodologies are state-of-the-art. In part that is due to our relationship with Chadwick Martin Bailey. Although South Street Strategy Group is an independent company, our expertise is a natural extension of Chadwick Martin Bailey, a recognized leader in market research and analysis.
Over the past several decades there have been dramatic advances both in the science of marketing as well as significant changes in communication mediums. These include research and measurement techniques, CRM and database systems, and marketing analytics – not to mention internet and wireless technologies. Not only do we keep up with these advances, but whenever possible we combine both new and old techniques to tackle the issues that are keeping executives up at night.
How is market science different from market research?
It’s an interesting distinction. Market research is certainly one of the most important components of marketing science. But we have a much broader definition that includes other areas as well, such as data analytics and measurement techniques in our analyses. For us, market research is just one way we use data and methodologies to support our recommendations and strategies to our clients.
On the South Street website, you talk about focusing broadly on two types of business challenges; Growth and Value Delivery Strategies. Can you tell us a little more about what you mean by those terms?
Growth Strategies include those projects that help our clients grow their top line, usually by identifying and capturing new opportunities, launching new products, entering new markets, etc. Value Delivery is about improving clients’ existing businesses through projects that are focused on improving brand positioning, building customer loyalty, or creating better alignment between the a company’s brand promises and customers’ experiences.
Can you make that even more concrete by talking about the types of things the firm is working on now?
Sure. In the area of growth, we are working on a project for a leading retailer to help them optimize the pricing strategy for their store brands. On the value delivery end, we are working with a mid-sized insurance company to help them with their channel strategy for their independent agents. And some projects obviously combine the two. For example, we are working with a mid-sized health insurer on corporate strategy in light of Federal Health Reform.
Thanks Mark, we are excited to be working with you in this new venture!
Posted by Kristen Garvey. Kristen is CMB's Director of Communications, a mother of two, and loves Seth Godin's latest book Linchpin.