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COMPETITIVE MARKETING STRATEGIES


COMPETITIVE MARKETING STRATEGIES

          Marketing has come to play an increasingly important role in the industries. At the core of the business is the marketing concept. The concept of strategy has been derived from the Greek word ‘strategos’ which means ‘the art of the general’. It is associated with determining the position of an organisation in relation to its environment and then achieving its goals. Increased competition and environmental change have forced organisation to plan more carefully for the future. Most organisation have several options for achieving their mission and objectives. Strategy is concerned with deciding which option is to be used. Strategy includes the determination and evaluation of alternative paths to achieve an organisation’s objectives and mission.

             There is no single definition of strategy which is universally accepted. Various authors use the term differently. Alfred Chandler has defined strategy as “the determination of the basic long-term goals and objective of an enterprise, and the adoption of courses of action and allocation of resources necessary for carrying out these goals.”

             Henry Mintzberg defines strategy as “a pattern in a stream of decision and action.” He advocates the idea that strategies are not always the outcome of rational planning. They can emerge from what an organisation does. he distinguishes between intended strategies and emergent strategies. Intended strategies refer to the plans that managers develop, while emergent strategies are the actions that actually takes place over a period of time.

     
 CHARACTERISTICS OF STRATEGY
1. A strategy is a set of decision-making rules.

2. Strategy relates the business organisation to its environment.

3. Strategy is concerned with the best ruses of firms’ resources in a  changing environment.

4. Strategy involves a choice of particular action or activities.

5. Strategy is a function of direction.

6. Strategy is the pattern of an organisation’s response to its environment.

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