The Perceived Importance of the Elements of Strategy

Abstract

The economic theory of competitive behavior emphasizes pricing and places relatively little emphasis on product, promotion, and distribution. However, the marketing executives of manufacturing corporations have a very different perception of the relative importance of the various facets of marketing strategy. In this article, the author summarizes a study of the marketing strategies of 485 successful products. In addition, he suggests a theoretical approach for determining the relative importance of product efforts and sales efforts in the marketing programs of manufacturing companies.