Identifying Market Opportunities

Abstract

A recurring theme of the preceding three chapters has been the need for a company to specify the objective or objectives which it wishes to achieve, and, through the formulation of a strategy, the means by which this is to be achieved. We have also stressed the central role played by the product or service as the medium through which corporate strategy is implemented. Thus, of all the policies relating to the various elements of the marketing-mix, product policy invariably takes pride of place, for, whereas a given product policy does not predetermine policies regarding packaging, distribution, promotion and selling activity, and so forth, it does have a very important influence upon them, and more often than not must be determined prior to considering these other policies.