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... 0 Introduction
The purpose of this report is to express the development in a ‘quest for strategy’, more precisely in a ‘quest for marketing strategy’. The report begins by attempting to define strategy, which unfortunately happens to be one of the most elastic terms in the English language. By defining strategy the reader may better be able to understand why the sub-topics were chosen. ... It is the belief of this report that vision is central to marketing strategy as it starts with giving employees and managers alike direction into the strategies which they impose. Because vision starts at the very beginning of the business (the employees) in the physical sense, it really is the basis and ground work of marketing strategy. ... This is seen as an important aspect to a marketing strategy, as without customers, there is no business. ... This takes marketing strategy one step further away from the internal framework of the organisation to their rivals. ... 0 The Concept of Strategy
‘A unifying theme that gives coherence and direction to the actions and decisions of an organisation (Grant 1998)
A pattern of decisions and actions that managers take to achieve an organisation’s goals (Hill & Jones, 1998).
The first step in trying to understand Marketing Strategy, is trying to understand the concept of strategy in its self. Understanding the term is not and never will be set in concrete, businesses have their own definitions of strategy depending on how it fits within their particular context, and hence is a very elastic term. There are, however a number of parallel ideas surrounding the concept of strategy in which academics and leading executives have agreed upon.
Firstly, a strategy is both an explanation of the past and its actions, and a guide to future initiatives and programs. Strategy should also not be mistaken as a fixed term, instead it is a directional statement, in verbal, written or mental terms that describes the choices an organisation may make. ... Michel Porter, (1996) believes that ‘For most firms, the overriding goal is superior performance; therefore strategy is the preferred way to achieve superior organisational performance’. However for a strategy to be successful it must be consistent with the firm’s internal and external environment (Diller, 2003).
The strategy must also give operational logic for what the company hopes to accomplish, without operational logic the strategy has already failed; there is no point in saying the company will achieve an objective if they do not have the means to do so (Lipton, 1996).
‘The essence of strategy is choosing a unique and valuable position rooted in systems of activities that are much more difficult to match (Porter, 1985). If all businesses had the same strategy there would be limited differentiation for customers to choose from; the relationships the business have with consumers would be similar and competitive advantage would be hard to achieve, hence the need for company’s strategies to be unique. ... It is the belief of this report that a strategic vision is the most important element in a marketing strategy and will therefore be discussed in the greatest depth. ...
This article opens up the thought train that surrounds the concept of Marketing Strategy. ... 5 The importance of Vision in relationship to the overall marketing strategy
A strategic vision often comes before the strategic marketing choices are developed in a business. ... In short – because the business starts with those internal to the organisation a strong sense of vision is the key factor in a successful marketing strategy. ... 0 Market-Driven strategy: Relationship Marketing.
The report, up until this point has attempted to describe the concept of strategy, and looked at the ever-important aspect of marketing strategy: Vision. Vision focuses on the internal framework of the business and strategy focuses on what and how the decisions are made, this aspect too is internal to the company.
Approximate Word count = 3179
Approximate Pages = 12.7
(250 words per page double spaced)
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