Essay on Marketing Decisions and Business Strategy

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“Making Sure That Marketing Decisions Match the Business Strategy”

1. Comment of this statement: “Strategies most often fail because they aren’t executed well. Things that are supposed to happen don’t happen.”
A successful business strategy can help companies effectively execute and stay ahead of the competition. Maintaining strategic direction and relentlessly executing - rather than reacting to competitive conditions - is the most consistent route to success. Along with a successful strategy, a company needs to focus its culture and align it with employees. Aligning the right people in the right roles with the right strategy for your business will lead to organizational success.

2. Distinguish among the four fundamental business …show more content…

They defend their market from competition by benchmarking their value chain costs against the competition.
Customer Centrics offer high-quality products with exceptional customer service at lower prices than Pioneers but higher prices than either Fast Followers or Cost Leaders. Customer Centrics target narrow segments in order to develop close relationships with customers while providing high-quality products. They place a high emphasis on understanding their customers.

3. What makes a successful Pioneer? A successful Cost Leader?
A successful Pioneer is both customer and innovation-oriented, patient and have a decentralized marketing organization with a high proportion of marketing specialists. Pioneers target innovations and early adopters and are therefore very proactive in their product development efforts. That requires a successful Pioneer to devote a significant effort to marketing research. The successful pioneer will also devote resources to educating customers and stimulating demand for the product through advertising.
The Cost Leader has the opposite strategy of the Pioneer. Cost Leaders places lower emphasis on product innovation and have a decentralized marketing organization. Instead, they are internal-cost oriented. To be successful, Cost Leaders must focus on process innovation that improves production efficiency over product

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