Chapter 1
Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing
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• Fundamental pattern of:
• Present and planned objectives
• Resource deployments
• Interactions of an organization with markets,
competitors, and other environmental factors
Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies
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• Scope
• Goals and objectives
• Resource deployments
• Identification of sustainable competitive
advantage
• Synergy
Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies
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• Three major levels of strategy
• Corporate strategy
• Business-level strategy
• Functional strategy
Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies
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• Strength of influence exerted by marketing
managers varies across organizations
• Variables that impact marketing's influence
• Amount of focus on R and D activities
• Customer connecting capabilities
Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies
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• Marketing concept: Planning and coordinating
all company activities around satisfying
customer needs
• Effective means to attain and sustain a
competitive advantage and achieve company
objectives
• Consistent focus by personnel in all
departments and at all levels
Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies
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• Adopts different organizational procedures
and structures to:
• Improve the responsiveness of decision making
Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies
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Source: Reprinted with permission from Marketing Management, published by the American Marketing Association, Frederick E. Webster Jr., “Executing the New
Marketing Concept,” Marketing Management 3, 1 (1994), p. 10.
Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies
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• Most consumers have little knowledge of
scientific advancements and emerging
technologies
• Do not play role in influencing how firms allocate
their basic research dollars
• Customer focus is critical to development
Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies
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• Pays dividends in a developed economy
• Has a positive effect on various dimensions of
performance
Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies
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• Competitive conditions
• Different levels of economic development
across industries or countries
• Strategic inertia
Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies
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Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies
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• Globalization
• Increased importance of service
• Information technology
• Relationships across functions and firms
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Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies
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• Firms should be:
• Market-oriented
• Tightly focused on customer needs
• Highly adaptive
• Marketing activities critical for effective
performance
• Tracking, analyzing, and satisfying customers’ needs
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• Decision-making focus
• Analysis of the four “Cs”
• Integrating marketing strategy with the firm's
other strategies and resources
• Market opportunity analysis
• Understanding market opportunities
• Measuring market opportunities
• Market segmentation, targeting, and positioning
decisions
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• Formulating marketing strategies for specific
situations
• Implementation and control of the marketing
strategy
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• Details current situation with respect to:
• Customers
• Competitors
• The external environment
• Provides guidelines for:
• Objectives
• Marketing actions
• Resource allocations
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• Executive summary
• Current situation and trends
• Performance review
• Key issues
• Objectives
• Marketing strategy
• Action plans
• Projected profit-and-loss statement
• Controls
• Contingency plans
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