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Write a summary regarding journal focuses on market-driven organizations, which that are organizations that align their management with market expectations.
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The journal focuses on market-driven organizations, which are organizations that align their management with market expectations. These organizations are said to be flexible such that they conform with various market expectations that lead to acquiring consumer equity and also maximize their profits.
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What could be a reference for this essay?
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Crossing the Chasm
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Give me essay regarding journal focuses on market-driven organizations, which that are organizations that align their management with market expectations. Exapnd on the summary above.
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#Capabilities of Market-Driven Organizations Essay (Critical Writing)
##Journal Article Critique
##Introduction of the purpose of this critique paper and the aim of this paper
The aim of this critique paper is to evaluate the journal article on the capabilities of market-driven organizations. It is extremely valuable to find out what the author has actually written as far as organizations capabilities are concerned (Moore 2003, p. 145). This will be done by trying to find out the viability of their arguments in the world of business.
This means that, in this paper, we are going to compare the work of the author of this journal with those of others in the field of marketing. In order to know whether the journal has arguments that can be useful to marketers in building their businesses, it is necessary to analyze marketing theories and other theories brought forth by the author of the journal in order to establish the strengths and weaknesses (Moore 2002, p. 130).
It is extremely pertinent to relate the given literature with marketing literature in order to find whether the author has argued according to what is known. There is no way an author can come up with an article without any basis in the known literature and theories, unless they have carried out adequate experiments to prove their arguments. Furthermore, it is essential for authors to make skillful use of existing literature to come up with their own versions.
In fact, any literature being put up in a journal should be an improved or revised version of what has been written before. This means that due to changes in the business environment and technology, some arguments may be outdated hence cannot apply in any business in the current environmental setting (Hodge, Anthony and Gales 1996, p. 110). This leads to the urge to revise the theories to suit current situations (Upbin 2000, p. 13).
For example, many businesses today are changing with technology, and they need to lay off some employees. Where, old literature proposed large number of employees to ensure smooth flow of events within an organization, technological changes may contradict the theory hence bringing the need for revision.
Therefore, in this paper we have to carefully evaluate and analyze every argument. This will lead to a conclusion where marketers will be advised whether to rely on the journal article or just ignore. If the journal article has not done the expectations of marketing theories, then it is going to be nullified as reliance on it might lead to losses in organizations (Blank 2000, p. 26).
Summarize the journal, “The Capabilities of Market-Driven Organizations”
The journal, “The Capabilities of Market-Driven Organizations” is focusing on market driven organization. These are organizations that align their management with market expectations. These organizations are said to be flexible such that they conform with various market expectations that lead to acquiring consumer equity hence maximizing their profits. In fact, such activities have got several strategies aimed at enhancing their capabilities in the market.
For example, if an opportunity comes up in the market, market based organizations extend their capabilities at the advantage of their competitors hence being able to maximize in terms of their profits (Cravens and Shipp 2001, p. 32). The journal has addresses capabilities approach to strategy where issues such as perspectives on competitiveness are addressed. These are concerned with the strategic management which enables organizations to stay at ahead of their competitors.
In order for an organization to realize competitive advantage, they need to come up with strategies to ensure that they are positioned way above their competitors in the market.
Furthermore, the article addresses the issue of capabilities and resources and their connection as far as progress is concerned. For example, market driven organizations have strategies which guide them on selection of locations hence establishing their assets in places best fit for their business. Then they merge their capabilities with their resources to stay in the market successfully.
The journal also highlights the issue of capabilities where it explains how organizations should define and identify their capabilities in order to capitalize on its operations (Kotler and Keller 2012, p.16). In fact, the most critical step in any business is identifying its weaknesses and strengths.
This is because managers can now know how to maximize on their capabilities, and how to improve on their on their weaknesses to counter competitor threats in the market. Organizations should be able to classify their capabilities in order to achieve the best performance.
This means that they should be able to know capabilities emphasized by external and internal factors. The external factors include sensing the market whereby the organization learns about an upcoming market, customer linking and channel bonding (Webster 2004, p.11). The internal factors include financial management within the organization, controlling cost and integrated logistics among others.
Finally, the journal addresses issues relating to development of capabilities for organizations which includes designing those capabilities. It gives guidance on programs expected to be effective in enhancement of the capabilities. These guidelines have their base in approaches of capabilities in regards to strategies and total quality management.
Synthesize the literature relating to the article and either support the article or argue against the article
I support theories in this article since it aligns with much of theories learnt from the marketing management book. In fact, much of the information in this journal is based on marketing books and articles written by other marketing authors. Just like in other marketing theories, the journal advocates for customers’ needs to be given priority in all business activities (Jaworski and Kohli 2001, p.40).
It is clear in the journal that companies that are able to react to changes in the environment stand greater chances of surviving in the harsh, competitive market. Marketing theories have for long targeted businesses which have the capability to adjust to changes in the environment (Narver and Slater 2000, p.138).
For example, organizations should be able to adopt technological changes in order to remain profitable. This is because technology comes with a lot of positive changes for organizations in a way such that the changes are in evitable. For example, the use of computers in records keeping has a significant impact on development of many organizations. In the issue of distinctive capabilities, just like other marketing theories, the journal outlines how the organization should test its capabilities.
Testing capabilities helps organizations to know which capabilities are appropriate for their operations and which ones need to be eliminated. Since the author has arguments concurring with marketing theories, then the journal should be supported. Furthermore, the manner in which the journal analyzes capabilities is remarkably perfect as they are evaluated on the basis of their advantages and performance outcomes.
Marketing theories are abundantly clear on how to evaluate factors and other aspects in the market by sampling their advantages over the competitors. In addition, they work out on the expected outcomes since the aim of any organization is to achieve the expected performance (Shah 2000, p. 67).
The journal connects organization assets and other resources with their capabilities in the business. This is done to make sure that managers and their marketers work together with the understanding of how their available assets can be used to maximize company profits.
Company’s capabilities should be used wisely in order to ensure the marketing mix is upheld properly. This means that customer satisfaction must be attained with full utilization of organizations capability. These capabilities are dynamic since they change with changing aspects of the market which is dynamic, as well.
Explain and discuss what the article contributes to theory development and practice
This article has detailed particularly salient points that should be used in development of marketing theories and practice. In fact, it is focused on how organizations can survive in any competitive market without having to incur a lot of expenses in creating awareness. For instance, when an organization identifies its capabilities in the market and invests in maximizing its profits by directing its efforts to those capabilities it stands better chances of beating its customers in the market.
The article highlights on spanning capabilities, which represent operations carried by all organization. This can be used by the organization to plan and implement their operation strategies whereby the organization need to know their capabilities based on activities carried towards the organization (Lloyd 1994, p. 69). This involves company customers who bring revenue as they consume products and services from the organization.
These aspects are crucial for any organization since they need to source the market in order to identify those with maximum potentials. This means all factors outside the organization but those that bring inputs to the organization need to be considered at all times by organization managers (Hartley 2008, p. 98). Aspects of market sensing can be used by marketers in carrying out marketing research whereby they can apply the steps involved in sensing.
The idea of designing the program of change is extremely crucial in development of marketing theories and practice. This is because, for any activity to be carried out successfully there must be a design and a plan which guides and regulates what need to be done. In developing market theories, aspects of designing and planning, should be given priority as they form a base for concrete decision making process.
Planning is essential in fostering changes within the organization because the process will be monitored by various individuals. This promote transparency and increases acceptance of the change since many stakeholders are involved in the change process (Sinkula 2006, p. 38). The aspects of customer linking can be useful in developing marketing theories since it highlights on how customers can be handled by organizations.
Since customers are necessary for any organization, managers should come up with ways of ensuring that their needs are addressed hence increasing their satisfaction (Aaker 1998, p. 102). When customer satisfaction is achieved, organizations build customer equity, which translates to increased loyalty and revenue. The elements of TQM in this journal can also be used in theory development as organizations need to manage their quality in order to retain customer trust.
Make recommendations to marketers so that their future marketing ventures will be successful
For marketers to be successful in their ventures, they should make sure that they follow all aspects of the marketing mix (Tadepalli and Avila 1999, p. 100). Marketers should make sure that their products meet the specified requirements in order to satisfy their customers. This is vital because quality products and services, which lead to customer satisfaction, accrue customer loyalty. They should make use of their organizational capabilities to venture into any competitive market.
For example, when deciding on location for setting up services companies, marketers should be able to identify the capability of their proposed location to attract customers for their services (Uncles 2000, p.9). This means that market research is vital for any marketers in order to identify a location with necessary potential for their business. Market research helps in knowing customer preferences, which helps marketers in designing the right products and services for that market (Upbin 2000, p. 13).
Marketers should apply techniques of market sensing in knowing the best prices they can set up for their products to be accepted. This plays a key role in organizations since they know the price at which to venture in the market without making loses. Marketers should make sure that they have communication strategies on the ground to make sure that all their progress is communicated to the consumers.
For example, marketers should be able to come up with advertising methods aimed at ensuring that consumers know regarding products hence increasing on sales. Marketers should find out the best promotion tools required when venturing into competitive markets. Depending on market segmentation, they should come up with means of launching their products to different segments with the aim of beating their competitors (Treacy and Wiersema 2005, p.256).
Marketers should be able to find out strategies and tools used by their competitors in marketing their products and improve theirs in order to win customers. In addition, they should come up with a strategy to get customer feedbacks so that they can know customer reactions. This can help in improvement of product quality and customer requirements in terms of pricing.