Question

Why does the marketing strategy process start broad before narrowing?

a. It provides firms with a chance to hide their methods from competitors that would be too obvious if the focus was narrow.
b. It gives firms a chance to identify opportunities they might miss if the process starts too narrow.
c. A broad view allows the company to focus on its own capabilities regardless of what the competition is doing.
d. A focus that begins too narrow would naturally ignore the objectives and resources of the company.

Answer 1

The marketing strategy process starts broad to identify opportunities that may be overlooked with a narrower focus and to align with the company’s core competencies before refining the strategy.

Step-by-step explanation:

The marketing strategy process typically starts broad before narrowing down in order to identify opportunities that might be missed with a too narrow focus. Starting broad allows businesses to consider the wide range of possible markets, customer needs, and innovative approaches that could be relevant to the company's success. By taking a broad view initially, companies can take into consideration their core competencies, and how these can be leveraged across different opportunities. This approach aligns with the principle that businesses often find more success focusing on core competencies rather than diversifying too widely.

A narrow focus at the initial stage might ignore the full scope of the company's objectives and available resources, potentially overlooking strategic opportunities. Thus, by starting with a broad perspective, the company can develop a comprehensive strategy that is then refined and narrowed down to focus on the most promising avenues for success.

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