On the importance of matching strategic behavior and target market selection to business strategy in high-tech markets |
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| Authors: | Stanley F. Slater G. Tomas M. Hult Eric M. Olson |
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| Affiliation: | (1) College of Business, Colorado State University, Fort Collins, CO 80523-1278, USA;(2) Center for International Business Education and Research, Marketing & Supply Management, Eli Broad Graduate School Management, Michigan State University, East Lansing, MI 48824-1121, USA;(3) Marketing and Strategic Management, College of Business and Administration, University of Colorado—Colorado Springs, Colorado Springs, CO 80918, USA |
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| Abstract: | Business strategy is fundamentally concerned with the actions required to create superior customer value in the firm’s target markets with the ultimate goal of achieving superior performance. Marketing theory suggests that two critical marketing activities required to achieve this end are: (1) the adoption of appropriate strategic behaviors (i.e., customer-oriented, competitor-oriented, technology-oriented) and (2) targeting of the appropriate market segments (i.e., innovators, early adopters, early majority, late majority, laggards). This study builds on prior research which demonstrates that the strategic behavior—firm performance relationship is contingent on the firm’s strategy by examining this relationship in high tech markets and by considering the incremental contribution of appropriate target market selection. Responses from 160 senior marketing managers in high-tech firms reveal strong support for our framework. Thus, this study provides useful guidance to executives and managers in high-tech firms regarding the steps that they should take to increase their probability of success. |
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| Keywords: | High-tech Customer orientation Competitor orientation Technology orientation Market segments Business strategy Performance |
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