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Market oriented Perspectives Underlie Successful Corporate Business and Marketing Strategies

competitors and other environmental factors. . resource deployment and interactions of an organization with markets.Defining Strategy A strategy is a fundamental pattern of present and planned objectives.

Components of a Strategy ● ● ● ● Scope Goals and objective Resource Deployment Identification of Sustainable Competitive Advantage Synergy ● .

Hierarchy Of Strategy .

Different levels of economic development across industries or countries may favor different business philosophies Firms can suffer from strategic inertia . ● ● .Factors affecting Strategic Role ● Competitive conditions may enable a company to be successful in the short run without being particularly sensitive to customer desires.

Recent Developments ● ● ● ● Globalization Increased Importance of Service Information Technology Relationship Between functions and firms .

Process of Formulation of Marketing Strategy 1)Corporate Objective and Strategy 2)Business level objective and Strategy 3)Market Opportunity Analysis 4)Formulating Strategies for specific Market Situations 5)Implementation and Control .