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An Empirical Study on Competitive Marketing Strategies for Skin C...

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An Empirical Study on Competitive Marketing Strategies for Skin Care Cosmetics of Organized Retail Sector

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  • November 19, 2010
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AN EMPIRICAL STUDY ON COMPETITIVE MARKETING STRATEGIES FOR SKIN CARE COSMETICS OF ORGANIZED RETAIL SECTOR

C.Thirumal Azhagan(

Dr.P.S.Nagarajan((

INTRODUCTION
Strategy can be defined as a firm’s positioning to gain a competitive advantage in the marketplace (Michael E. Porter 1996)[1]. A strategy is always to secure organizational effectiveness by performing the right activities at the right time and to .achieves the right fit with the external environment. Building upon this idea, a marketing strategy allows firms to develop a plan that enables them to offer the right product to the right market, with the intent of gaining a competitive advantage. Marketing strategy research has focussed arenas such as marketing strategy formulation and marketing strategy implementation. Marketing strategy formulation research tends to focus on what should be done in practice or the role of marketing strategy in practice (Mintzberg, Henry 1994) [2]. Marketing strategy implementation research treats the strategy as a given and examines the outcomes associated with the successful implementation of the strategy. The focus of this research falls within the marketing strategy formation domain and concentrates on the ability of teams to effectively formulate marketing strategies for new products. Effectiveness of marketing strategy formulation is made up of three components: They are Marketing strategy performance is defined as the extent to which a team is able to develop a comprehensive marketing strategy for their product. Marketing strategy creativity is defined as the extent to which the strategic plan developed by the team in an effort to commercialize a new product represents a meaningful difference from marketing practices within the industry (Andrews and Smith 1996). The process of creativity has been shown to enhance performance through a focus on identifying problems, developing hypotheses, communicating ideas openly with others, and challenging the status quo[3]....