Notes Of SM ( Final) - CH:1- MARKET DRIVEN STRATEGY...

This preview shows page 1 - 3 out of 7 pages.

CH:1- MARKET DRIVEN STRATEGYMARKETING ACTIVITIESEvery activities when doing for organization, it has two (2) ways; either itsworking from inside the organization or outside the organization to achieve itsobjective. In Marketing, there are also two ways to doing any activities:1.Covert (Inside the organization, such as R&D, How to make or formulatestrategies)2.Overt (Outside the organization such as what is product & price, where isplace, how to promote)STRATEGIC MARKETINGStrategic Marketingis the way a firm effectively differentiates itself from itscompetitors by capitalizing on its strengths (both current and potential) to provideconsistently better value to customers than its competitors.MARKET DRIVEN STRATEGYAll business strategy decisions should start with a clear understanding market,customers and competitors. OR the market and the customers that from the marketshould be the starting point in shaping business strategy.Following are the characteristics of Market Driven Strategy:1.Becoming a Market Orientation2.Identifying a Distinctive Capabilities3.Creating Value for Customers4.Superior Performance1.Becoming a Market OrientationA business is market-oriented when its culture is systematically & entirely committed to thecontinuous creation of superior customer value.A market-oriented organization performs the following functions:
Continuously gathers information about customers, competitors, & markets;Views information from a total business perspective;Decides how to deliver superior customer value; &Takes actions to provide value to customersMarket orientation requires –Customer focus,Competitor intelligence, &Cross-functional coordination2.

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 7 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Fall
Professor
afaq
Tags
Economics, Marketing, Micro Marketing, Market Driven Strategy, Distinctive Capabilities

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture