Publisher's Synopsis
Seminar paper from the year 2008 in the subject Business economics - Offline Marketing and Online Marketing, grade: 2, University of applied sciences, Neuss, course: Marketing, language: English, abstract: Most leading companies today pursue multiple strategies for growth simultaneously in order to reach their strategic goals. It is important to verify how different growth strategies are appropriate for companies operating in different types of markets, and how changes in business environment make the same company decide on different strategic options at stage time in its organisational life cycle. The reason why firms succeed or fail is perhaps the central question in strategy. The firm needs a well-defined scope and growth direction, that objectives alone do not meet this need, and additional decision rules are required if the firm is to have orderly and profitable growth. Such decision rules and guidelines have been broadly defined as strategy or, sometimes, as the concept of the firm's business. The choice of a marketing growth strategy is a function of the strategic situation, organisational characteristics, and entrepreneur motivations. It is inherent to the process of strategy formulation. Companies must be flexible to respond rapidly to competition and market changes. They must benchmark continuously to achieve best practice.
