Chapter 1 Market Driven Strategy
Chapter – 1 Market – driven strategy
What is strategic marketing ?
Ans : Marketing is the process of identifying , creating & delivering customer value in exchange of profit .
In other sense , Marketing is managing profitable customer relationship .
Strategic marketing is the concept of developing market driven strategy to develop superior customer value & long term customer relationship .
Why we need to know about strategic marketing ?
Ans : In a competitive situation each & every organization wants to create strong market position .
1. To create profitable customer relationship a marketer needs to know about strategic marketing .
2. To create superior value for the consumers .
3. To sustain in the competition for a longer period .
What is market driven strategy ?
Ans : Market driven strategy means creating , effective strategies considering –
a) Consumer
b) Organizational capability
c) Competitors & environment
All business strategy decisions should start with a clear understanding of markets , customers & competitors .
Market driven strategy means creating , understanding the strategies of market , consumers , organizational capability , competitors & environment .
Market driven strategy means creating effective strategy that start with a clear understanding of customers , organization capability , competitors & environment .
What are the characteristics of market driven strategy ?
Ans :
1. Becoming market orientation : Market orientation means creating all the business strategy on the basis of market situation . If an organization wants to target all the consumers , they have to create superior value for the consumers .
2. Determining distinctive capabilities : Capabilities are complex bundles of skills & accumulated knowledge , exercised through organizational processes that enable firms to co – ordinate activities & make use of their assets .
3. Customer value / Capabilities match :
What is strategic marketing ?
Ans : Marketing is the process of identifying , creating & delivering customer value in exchange of profit .
In other sense , Marketing is managing profitable customer relationship .
Strategic marketing is the concept of developing market driven strategy to develop superior customer value & long term customer relationship .
Why we need to know about strategic marketing ?
Ans : In a competitive situation each & every organization wants to create strong market position .
1. To create profitable customer relationship a marketer needs to know about strategic marketing .
2. To create superior value for the consumers .
3. To sustain in the competition for a longer period .
What is market driven strategy ?
Ans : Market driven strategy means creating , effective strategies considering –
a) Consumer
b) Organizational capability
c) Competitors & environment
All business strategy decisions should start with a clear understanding of markets , customers & competitors .
Market driven strategy means creating , understanding the strategies of market , consumers , organizational capability , competitors & environment .
Market driven strategy means creating effective strategy that start with a clear understanding of customers , organization capability , competitors & environment .
What are the characteristics of market driven strategy ?
Ans :
1. Becoming market orientation : Market orientation means creating all the business strategy on the basis of market situation . If an organization wants to target all the consumers , they have to create superior value for the consumers .
2. Determining distinctive capabilities : Capabilities are complex bundles of skills & accumulated knowledge , exercised through organizational processes that enable firms to co – ordinate activities & make use of their assets .
3. Customer value / Capabilities match :