Strategic Market Management, 10th Edition

PREFACE

The thrust of this tenth edition of Strategic Marketing Managements book is to develop business, brand, and marketing strategies that lead to enduring competitive advantage, a task that has become more daunting over the years. In most markets, competitors are reaching parity on basic functional benefits, so marshaling and protecting innovation is more important than ever and requires a strong organization and system to make happen.

Developing and implementing strategies is now very different than it was only a few decades ago when the business environments were more stable and simpler. Every market can now be described as dynamic. As a result, firms need to be able to adapt strategies in order to stay relevant. It is a challenging but exciting time, full of opportunities as well as threats.

The unique aspects of the book remain its inclusion of:

• A business strategy definition that includes product/market scope, value proposition, assets and competencies, and functional area strategies. Too often the business strategy concept is vague and ill-defined, leading to a diffused focus and weak communication.
• A structured strategic analysis, including a detailed customer, competitor, market, environmental, and internal analysis leading to understanding of market dynamics that is supported by a summary flow diagram, a set of agendas to help start the process, and a set of planning forms
• Concepts of strategic commitment, opportunism, and adaptability and how they can and should ...