A Three Step Matrix Method for Strategic Marketing Management
Submitted to: Mr. Suman Shakya, Facilitator, AIM, Strategic Marketing|
Rabi Kiran Adhikari
Strategic marketing comes into place to standardize the marketing practice, ultimately satisfying the customer needs through increasing company's competitive advantages. The base of any corporate to develop the winning strategically needs close monitoring in the internal and external environment. There are many instances where some company failure due to not been able to monitor the market situation adequately but in other instance we also can see the growth of company due to innovation, diversification and became the market leader. So for well understood of the marketing behaviour we have to see their strategy. So to be the market leader or winning in the market place needs right decision at right time using right technology, which ultimately creates the Sustainable Competitive Advantage (SCA). To be a sustainable winner the company have to invest in R&D function, have to study market environment, have to study the competitors, have to study the changes in strategic move of the industry, have to study the customers behaviour etc. For well understood of the market situation to take strategic movement there are many models implemented by different company. The Boston Consulting Group’s (BCG) four cell matrix, GE/McKinsey’s multifactor matrix, Robinson’s directional policy matrix, Sheth and Frazier’s financial model, Capron and glazer’s technology portfolio model are some of the models which have implemented for the assessment of market situation. However, the use of single matrix is not sufficient to know the true picture of the market situation. Therefore, Yin-Ching Jan has proposes a three-step matrix method for strategic marketing management.
Step 1: Industry Perspective Matrix
The industrial perspective matrix is basically using to see the external...