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2.4
MARKET-DRIVEN STRATEGIES ACCORDING TO
DAVID CRAVENS – STRATEGIC MARKETING
Characteristics of Market-Driven Strategies:
Becoming Market Oriented
Market orientation
is a business perspective
that
makes the customer
the
focal
point of a company’s total operations. A business is market-oriented when its
culture
systematically
and
entirely committed
to
the
continuous
creation
of
superior customer value. The organization must monitor rapidly changing
customer needs and wants, determine the impact of these changes on customer
-behavior,
increase
the
rate
of
product
innovation, and
implement
strategies
that build the organization’s competitive advantage.
A
market-oriented
organization continuously gathers information
about
customers,
competitors
and
markets,
views
the
information
from a
total
business perspective, decide how to deliver superior customer value, and takes
actions to provide value to customers.
Customer Focus
Understands customers’ preferences and
requirements and effectively deploys
the
skills
and
resources
of the
entire
organization
to
satisfy customers.
Becoming customer-oriented requires finding out what values buyers want to
help them satisfy their purchasing objectives.
Competitor Intelligence
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