Recapitulation

This book has been concerned with a description and analysis of the application of strategic planning to the marketing function and the translation of the resultant marketing strategies into operational plans. Thus we have looked at the nature of strategy in general and marketing strategy in particular, and have recognised that marketing is constrained by the environment within which its activities must be performed. Within this overriding constraint we have acknowledged that the particular performance of the individual organisation will depend upon its ability to identify and satisfy the highly specific needs of individual consumers and that the degree of success which it will enjoy will depend in turn upon its ability to differentiate itself in the minds of prospective customers from the offerings of its competitors. Success in achieving this will be determined by its degree of understanding of the way in which buyers choose and the extent to which it can put this knowledge to good effect by identifying and developing profitable market segments.