Answered: Discuss in the context of the Strategic…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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The traditional focus on improving efficiency of current products, services and business models has been challenged. Many authors argue that companies need constant renewal by developing new products, services, and business models. Although improved efficiency of the present is important in organisational processes, enhancing the effectiveness of innovation processes to secure the future is what managers should be focusing on. Exploring uncharted waters may be costly and results are not guaranteed, but in order to be able to be efficient in the future, managers need to ensure the company has a future. Discuss in the context of the Strategic Improvement versus the Radical Rejuvenation Perspective.

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