MKTG3310 Lecture Notes - Lecture 7: Market Failure, Market Structure, Transculturalism
Document Summary
Week 7 planning and adapting for international markets. Mission vision strategic analysis strategy implementation performance monitoring. Resistance to change: people may not like the risk of changing the way they do things. Lack of stakeholder commitment: all stakeholders must stay committed to a change. Strategic drift: shifting away from what the company is good at. Strategic dilution: bringing about too much change, doing things differently all the time. Failure to understand progress: failure to implement changes. Initial fatigue: maki(cid:374)g too (cid:373)a(cid:374)y cha(cid:374)ges that you ca(cid:374)"t keep track of. Impatience: wanting things to succeed early or wanting a premature outcome. No celebration of success: not checki(cid:374)g what is worki(cid:374)g a(cid:374)d what is(cid:374)"t. Scenario planning: familiarisation, discovery, scenario building, action and integration. Customers are: willing to take risks, demand new and innovative products, high per capita income, high usage of similar products. Lead market potential: cost advantage, demand advantage, export advantage, market structure advantage, transfer advantage.
