THE ESSENSE OF MARKET STRATEGY Dr. Gerald Smith Carroll Graduate School of Management Boston College.

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Presentation transcript:

THE ESSENSE OF MARKET STRATEGY Dr. Gerald Smith Carroll Graduate School of Management Boston College

TYPES OF CORPORATE STRATEGIC THRUSTS Market Driven Strategy Product Driven Strategy Process Driven Strategy

TO NON-MARKETERS, MARKETING IS... Vague Ambiguous Salesmanship Soft Non-quantitative Simple Intangible Conceptual

MARKETING IS THE FUNCTION IN THE COMPANY CHARGED WITH... MARKET STRATEGY

THE DOMAIN OF MARKET STRATEGY IT IS... Market focused Strategically focused Future focused BECAUSE... Markets are disorganized, chaotic, confused Competitors deploy scarce resources to gain market share To preserve competitive advantage and long run returns

THE OBJECTIVE OF MARKET STRATEGY To create order out of chaos To create and capture unrealized market value To build long term competitive advantage To make the future concrete

LEVELS OF MARKET STRATEGY Market Vision: How is the market organized? How should it be organized? Market Objectives: What should we achieve, when, why? Market Strategy (Plan): How should we direct resource deployment to achieve market objectives? Market Implementation: What activities do we do, when, and where to fulfill the market plan?

MARKET STRATEGY Articulates a definition of a future market vision Establishes a structure of strategic market relationships Sets forth a plan of coordinated market actions That the company... –Can work to –Can organize around –Can invest in

A GOOD MARKET STRATEGY IS... Plausible Sensible Credible Believable Persuasive Articulate Strategic

DESIGNING PERSUASIVE MARKET STRATEGY Sound quantitative analyses Vivid qualitative analyses Reliable, valid market evidence Is strategic Articulates the big picture of competitive market dynamics Consistency of the market strategy with itself Consistency of the market strategy with the market Talks the language and tools of market strategists

MARKET DRIVEN STRATEGY Be market driven. Be strategic.