Market-driven strategy – or the strategy that seeks to understand and satisfy the needs and wants of the existing market focusing on customer loyalty and repeat purchase, has been the most common approach to business decision-making and choice of marketing activities. In recent years, this way of thinking had been challenged for its limitations – now requiring marketers to keep […]
Market Driving Strategy
Understanding the Differences: Market-driven strategy and market-driving strategy are two distinct approaches to marketing as a strategic function. Although the term “market-driving strategy” might raise some eyebrows, it is essential to recognize the disparities between these two methodologies. Market-driven strategy, the more conventional approach employed by 99% of firms, emphasizes understanding and responding to identified customer needs within existing or […]
Market driving strategy is about tapping new markets – – the unserved and the underserved markets. This is in contrast to market driven strategy which focuses and caters to the served or existing market. In this article, we apply market driving strategy to the death care industry by citing cases happening in different countries. In Daejeon, South Korea, Coffin Academy […]
Q1: How did you get into the hair extensions business? A: It all started when I was granted a fashion design scholarship by the Japanese government in 2009 and I studied in Tokyo for 3 years. It is there where I got immersed into a culture wherein fashion is literally a head to toe expression. I saw how for Japanese […]
Q1: What made you offer a 10 minute massage for P55? Was it part of an original package when you started or did it become a subsequent offering as a traffic builder? A: I offered our 10-min Express Massage (dry massage, no oil) to be a “tingi” or “sachet” service. We wanted to increase Mont Albo first timers and entice […]
Q1: East West Seeds is the dominant market leader in vegetable seeds in the Philippines controlling majority of the market. How was this made possible in your industry? A: This was made possible by a strong research and development, being close to the market (localized breeding and variety development), understanding the needs of our customers (farmers), excellent technology transfer services and […]
Q1: You have been importing medicines for decades. What made you decide to open a retail network via franchising all of a sudden? What was the inspiration? A1: In early 2000, physicians from PGH would recommend their patients to our office in Quezon Avenue, but since we are in the business of wholesale, unfortunately, we cannot sell retail to these […]
Q1: When you started Summit Media in 1995, your glossy, higher priced magazines became the new industry standard. What was your insight behind the new concept or what inspired you to tackle something different? Did you have a back up plan if it had not succeeded? In 1995, when we launched Preview, our first title, the magazine industry was dominated […]
Q1: Bayad Center, as a bill payment center, was set up because you had to address unremitted collections and increasing cost of collection (hold ups of Meralco electric bill collectors, delayed remittance, etc). How serious was this situation then or what was the tipping point that caused the creation of the Bayad centers? Have you attained your goals why Bayad […]
Q1: You modeled Cebu Pacific Air after Southwest Airlines in the US. How has the low cost carrier (LCC) model evolved since then, especially with much higher fuel cost as a percent to total operation cost? Southwest Airlines adhered to the original LCC mantra as it provided a point to point service as opposed to hub and spoke; as well […]