BUSI 4220U Chapter Notes - Chapter 1: Marketing Strategy, Market Analysis, Market Segmentation
Document Summary
Three levels of strategy: similar components but different issues. The hierarchy of strategies: the three major levels of strategy in most large, multiproduct organizations are (1) corporate strategy, (2) business-level strategy, and (3) functional strategies focused on a particular product-market entry. Corporate strategy: decisions about the organization"s scope and resource deployments across its divisions or businesses are the primary focus of corporate strategy. Business-level strategy: a major issue is that of sustainable competitive advantage, appropriate scope, synergy should be sought across product-markets and across functional departments within the business. The primary strategic responsibility of any manager is to look outward continuously to keep the firm or business in step with changes in the environment. Variations in marketing"s strategic influence: national culture, firms that spend relatively heavily on r&d and that seek a competitive advantage based extensively on innovative product and service offerings, firms that have strong customer-connecting capabilities.
