What Is Market Driven Strategy

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Paradigm shift from Market driven to Market driving startegy in Smartphone Handset Industry: A comparison 1. Professor Satish Agarwal Designation :- Professor Maharishi Dayanand Saraswati University, Ajmer 2. Priyanka Bhagoliwal Research Scholar Maharishi Dayanand Saraswati University, Ajmer Address:- 7, Patel Nagar, Near Gangotri Garden Gopal pura bypass, Jaipur. (Pin code 302015) Contact:- Mobile. No: 9887102881 Email I.D. priyankabhagoliwal@gmail.com Paradigm shift from Market driven to Market driving startegy in Smartphone Handset Industry: A comparison Abstract Marketing has changed rapidly over time. Specially the Hi-Tech Industry has shifted its marketing strategies from…show more content…
Day (1999a) stated that market-driven denotes a “superior ability to understand, attract, and keep valuable customers”. Market driven strategy focus on understanding the needs of the customers and delivering a product to satisfy those needs. It forecast the demand of the market and then supply the products and services to fulfill the demand. Market driven strategic practice includes careful market research, investigating the customers' needs, and developing differentiated products or services for a well-defined segment. Various companies such as Nestle, Procter & Gamble, and Unilever have effectively employed this market driven approach and succeed. A firm that is market driven is both customer oriented and market oriented. A supply chain was introduced which caters and respond to the consumer desires. This chain, which serves the ultimate master, that is, consumer, is the demand chain. Demand chain is consumer driven as it uses consumer knowledge to develop products (Roger.D.Blackwell, 1997). This demand chain is the market driven strategy which relates to a company’s ability to learn and understand the customers’ needs and demands and respond to the…show more content…
In market driving strategy, the companies makes the buyer to unlearn and then learn. It makes the buyer learn why they need the product and hence creates a demand. Hence now a days, Market places are focused on creating customer needs and wants. The companies offer new-to-the-world products and teach the buyers about the importance and usability of the product, create value and logic for choosing the product. It changes the fundamentals of business through innovation and teach the potential customers adopt their value proposition. (Kumar, Scheer and

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