Essay on Marketing Decisions and Business Strategy

Words: 1058
Pages: 5

“Making Sure That Marketing Decisions Match the Business Strategy”

1. Comment of this statement: “Strategies most often fail because they aren’t executed well. Things that are supposed to happen don’t happen.”
A successful business strategy can help companies effectively execute and stay ahead of the competition. Maintaining strategic direction and relentlessly executing - rather than reacting to competitive conditions - is the most consistent route to success. Along with a successful strategy, a company needs to focus its culture and align it with employees. Aligning the right people in the right roles with the right strategy for your business will lead to organizational success.

2. Distinguish among the four fundamental business
…show more content…
4. What are the biggest risks that Fast Followers face? What should they do to minimize these risks?
The biggest risk that Fast Followers face is the timeliness of their product entry into the market place. Life is easy for the fast followers because all they need to do is to follow in the footsteps of the pioneering entrepreneurs who have led the way and established a dominant design or product platform, and whose earlier activities have resolved all the major uncertainties. Fast followers can leapfrog the pioneers with a proactive market strategy. In order to minimize their risks, Fast Followers must take advantage of the learning and education of the market that has already taken place and focus on improving the product. Speed to Market is the core of the fast follower business model. They must shorten the time it takes to get from concept to factory floor to the market place.

5. Do you agree that Starbucks is the “ultimate Customer Centric?” Why or why not?
I agree that Starbucks demonstrates the ultimate customer centric business strategy. Customer-centric strategies strive to increase customer satisfaction, loyalty, retention and ultimately, the bottom line. Differentiated customer experience is an essential strategy for attracting and retaining customers, and people are willing to pay more for it. The Starbucks atmosphere provides quick service, comfortable seating, music, wireless internet and other customer