Identify the technologies required to implement the product market strategy. Technologies provide
September 10, 2018Develop two objectives designed to achieve the program goal. Each objective should be measurable in terms of time, place, target population, and anticipated increase or decrease.
September 10, 2018address the business and its key success factors. Business strategy includes customer targeting, product lines and positions, technical capabilities, strategic processes, and market access.
The market to collection process is used to obtain customers and deliver products. The internet
is changing the role of sales from face to face communication to phone or
computer communications. It is expected that many intermediary roles (
such as distributors and agents) will change to that of infomediary. As product quality and durability improve, service becomes less important, and new channels can be developed.
·
The marketing function provides the customer with information and education about a firm’s
products and services. Product information and education is often needed to let customers know about product capabilities. Advertising is the part of marketing that helps pull the customer into the market to collection process by creating recognition and image for the brand’s products and services. It helps pull the customer into the store and create brand image. Coca Cola, with the
largest advertising budget spends less money per bottle of soft drink sales than any other competitor. That gives them competitive advantage.
·
The customer service and satisfaction process is critical to sustain a company’s brand loyalty. Itis much less expensive to keep an existing customer than to acquire a new customer. Once a
customer relationship is established, it is important that appropriate customer service activities are established to maintain the relationship and solve problems that might hurt the relationship. When after sales service is required, customers need a company contact. 1800 numbers and the
Internet are rapidly providing direct purchase opportunities and technical
support capabilities. Dell Computers, for example, guarantees 48-hour repairs of their products (often next day service). Xerox provides 7day, 24-hour repair service to their large system customers.
4.
Strategic performance
. Performance is an outcome of strategy. The success with which a
firm’s business strategy effectively addresses its industry’s key success factors will determine its strategic performance. Strategic
performance is measured in terms of both financial and market success.
Financial performance is essential for continued business operations. Financial capabilities are critical in supporting functional strategies and making required infrastructure investments. For example, a company with adequate funding can expand or invest, or can provide customer
financing.
·