Tuesday, February 23, 2010

Strategic Framework for Marketing

“Companies need a strategic framework than can bridge the gap between simply connecting to the Internet and harnessing its power for competitive advantage.”

I stressed this line from a book which suggests that organization must take a stand or choose a strategic stand to be globally competitive and effective in the market. No matter how big or small the business is, they must consider the customer connectivity, product creation, competition and technological level of their business. These factors to consider fix their eyes to the options: global market penetration, product and service transformation, cost & effective transformation and performance improvement in business effectiveness. Here, a company determines its customers, suppliers, and even competitors to pull them all into one common ground for competition. In fact, companies must also nurture their relationships with these factors to develop and deploy new internet-based products and services. Whether to reposition, strengthen or segment the product, they can rely on the approach of product and service transformation.

Technology is developing and likewise, business should go with the flow and adapt certain “strategic technology” to withstand the market pressure. Using Internet for e-commerce, for example, transaction process with customers, and exchange for suppliers are the core functions of product or service transformation. Taking note also for the business drivers for today’s Information systems is imperative. This highlights the importance of information system in directing the path of organization to their vision.

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