Due to immense technological advancements and globalization of businesses all over the world, everything seems to change dramatically including marketing planning function within a company. These two factors among others have forced companies to adopt more flexible marketing strategies in order for them to gain a competitive advantage. Zinkhan & Pereira (1994) note that marketing planning is a sub-set of strategic planning within a company is integral to the success or failure of the company.
Some marketing scholars and researchers alike argue that today’s marketing strategies should be purposely planned and executed for a company to develop a clear direction of where it wants to go, and how best to go there, notes De Wit & Meyer (2004). However, some argue that new marketing strategies largely emerge over time, as marketing managers proactively develop a viable marketing strategy or reactively adapt to unfolding market conditions. According to De Wit & Meyer (2004), developing a strategy involves sense-making, reflecting, learning, envisioning, experimenting and changing the organization, which can’t be neatly organized and.
Both planned and emergent approaches to marketing planning are useful, and may be utilized concurrently by marketing managers to gain a competitive advantage, notes McKee, Varadarajan & Vassar (1990). Further still, some managers may utilize each of the approaches at different times to as well as to different degrees, and thus should not be seen as being independent or mutually exclusive.
Marketing Planning in the context of Competing on the edge approach to strategy
According to Brown & Eisenhardt (1998), competing on the edge defines strategy as the creation of a relentless flow of competitive advantages that, taken together, form a semi-coherent strategic direction. In this case, the determinant of whether a company is able to attain competitive advantages or not is how best it is able to manage change. Brown & Eisenhardt (1998) note that the success of a company is measured by its ability to survive, to change, and reinvent itself constantly over time.
As Brown & Eisenhardt (1998) states, applying the competing on the edge approach to developing strategy can help marketing managers address the ever present challenge of change in their companies through a constant reshaping of competitive advantage as the marketplace unpredictably and rapidly shifts. The aim of competing on the edge approach to strategy is reinvention of the marketing strategies that lead to the inexorable development of competitive advantages. Although competing on the edge approach to strategy formulation results in unpredictable, uncontrollable, and even inefficient marketing strategies, they usually work in the short term enabling the manager to whether the storm of changes in the marketplaces. These strategies are usually emergent strategies that are developed in response to changes in the marketplace.
One of the most used tactics...