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your victory will not be threatened. Know the terrain, know the weather, and your victory will be complete.
WHAT IS STRATEGY
Strategy in a firm is the pattern of
objectives, goals and essential policies to achieve the stated goals in such a way as to define what business the company is in or is to be in .
Operatin g Plans
business lines of a company and point them toward an overall goal. Business strategy focuses on defining the manner of competition in a given industry or product/market segment.
includes the description of new competitive equilibrium to be created, the cause and effect of relationships that will bring it about, and the logic to support the course of action. A strategic plan specifies the sequence and timing of steps that will alter competitive relationships
important things Have we ever seriously evaluated a new approach to an old market Do our plans critically document and examine strategic assumptions Do we consistently make an attempt to examine consumer, competitor, and distributor responses to our programmes?
MARKETING STATEGY
Marketing Strategy is an endeavor by a
Corporation to differentiate itself positively from its competitors using its relative corporate strengths to better satisfy customer needs in a given environmental setting.
John Scully
ability to perform in one or more ways that competitors cannot or will not match. Philip Kotler If you dont have a competitive advantage, dont compete.
Jack Welch, GE
and work with financial plan, ROI, cost , expenses debt and assets. Right-handed organization are market driven with the primary focus of satisfying the customers. The business decisions flow back from an understanding of customers rather than from a financial requirement.
attacks from low-branded and low priced competitors. Disappearance within many organizations of staff marketing departments and emergence of more focused functions with specific line responsibilities
marketing skills, including collection and analysis of data. Emergence of GENX consumers who demand a far high value added offer. Markets which are characterized by infinitely more aggressive and desperate levels of competition.
segmentation and rapid increase in new product innovations. European integration and growing power of distribution channels
in need of managers revisiting the traditional terms and practices of marketing by asking themselves the following questions.
anticipating customer needs is still a widely accepted business philosophy? Are the strategies focused on creating value to all stakeholders and customer satisfaction? Is marketing function integrated with other functions of the organization as a part of value creating strategy?
Is the Marketing strategy global in scope? Does significant part of the marketing effort
constitute innovative practices not previously used by the organisation and its competitors? Are strategic alliances for co-marketing activities being formed and are marketing strategies based on the development of long term relationships with the clients?
Thank You