Column 3 · Resources and Capabilities · Era 6, Engagement and Networks (2010s)
Adaptive Capabilities
Inputs: resources and assets · Landmark · Cluster II, Resources and Orientation
Description
Day argued that a widening gap between market complexity and firms' capacity to respond requires adaptive marketing capabilities: vigilant market learning, adaptive market experimentation, and open marketing.
Managerial Implications
The gap between market complexity and firms' ability to respond is widening. Closing it requires adaptive marketing capabilities: vigilant market learning, adaptive market experimentation, and open marketing that uses partners' capabilities. These are built through practices such as rapid test-and-learn and external networks, not through larger analytics budgets. Managers should ask whether their organization can sense faster and experiment cheaper than competitors.