As noted earlier, all organizations need to make strategic decisions relating to their external environment. Strategy must address issues such as customers, competitors and market trends. It needs to be proactive as opposed to simply reacting to events. In this way, strategy can detect and influence changes in the business environment. By its nature, marketing defines how the organization interacts with its market place. Consequently, all strategic planning, to a greater or lesser degree, requires an element of marketing. Only in this way can organizations become strategically responsive to customer need and commercial pressures. Indeed, it is possible to view marketing as more than a functional activity. It can be adopted as a business philosophy. Here the organization adopts a marketing orientation – success by a process of understanding and meeting customer need. Basically, the company’s orientation defines its fundamental business philosophy, highlighting what is perceived as the primary route to success. Market orientations are now widely established with in the business world (and often seen as the ‘holy grail’ of marketers) but other business orientations are equally common.
It is not our intention to decry production, product innovation or selling – indeed they are vital. However, the truly ‘world-class’ organization understands how to marshal these factors into a coherent market-led orientation. Creating such focus will facilitate the sustainable competitive advantage required to prosper.
How do we go about achieving a market orientation? The answer to this question can be summarized as follows:
Marketing Strategy Related Interview Questions
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Marketing Strategy Tutorial
The Strategic Perspective
Developing A Future Orientation
Targeting, Positioning And Brand Strategy
Product Development And Innovation
Alliances And Relationships
The Strategic Marketing Plan
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