Strategic Marketing: Planning and Control, Third Edition

5 years ahead. Shorter-term objectives for 12 months are more likely to drive the activities at the operational level. However s ...

The balanced scorecard widens the view managers have of the business rather than concentrating purely on financial criteria. For ...

■ Gap analysis The process of strategic analysis explored in Part 1 of this text effectively establishes the current situation t ...

The next step in the process is for the organisation to formulate strategies to ensure that the organisation can cross the gap b ...

This page intentionally left blank ...

CHAPTER 8 Strategy formulation ...

This page intentionally left blank ...

■ Strategy formulation – an overview Chapter 6 outlined the basic principles of setting objectives. It is import- ant to recogni ...

152 Strategic Marketing: Planning and Control ■ Competitive advantage The notions of competitive advantage and marketing strateg ...

and high volume strategy are likely to involve high initial investment costs and are often associated with ‘commodity’ type prod ...

● Product perception: Often the perception of a product is more important than actual performance. Hopefully, the product has an ...

the organisation being stuck in the ‘middle-of-the-road’ – either low cost, differentiated or focused (Figure 8.3). Strategy for ...

cost. Indeed it has been pointed out that the two strategies (cost leader- ship and differentiation) are not mutually exclusive. ...

● Fragmented: The market’s needs are less well defined and numerous ways exist to gain advantage. The industry is often well sui ...

Such advantages are underpinned by the previously summarised generic sources of competitive advantage (Porter) and Figure 8.5 il ...

The concept of a value chain, developed by Porter (1980), categorises the organisation as a series of processes generating value ...

technology development and procurement. These secondary activities take place in order to support the primary activities. For ex ...

Successful strategy amounts to implementing plans that meet customer need while effectively dealing with rival competitors. This ...

seeking market leadership and present a long term sustained challenge to the current leader. Strategies available to challengers ...

these objectives, organisations need offensive (attacking) and defensive strategies. Kotler et al. (1998) identify a number of a ...