Explore BrainMass

Non-Market Strategy for Sucessful Business Performance

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

I need some help answering this topic question, I choose Pharmaceutical Industries:
"An effective market strategy is necessary for successful performance, but is not always sufficient. An effective non-market strategy is rarely sufficient, but for most firms it is necessary for successful performance." Explain this statement using either the biotechnology or pharmaceutical industries as your primary focus.

© BrainMass Inc. brainmass.com October 25, 2018, 9:35 am ad1c9bdddf

Solution Preview

Companies need to focus on both the market and nonmarket environments. Market environment are those that deals with the relationship of the company with the buyers. Dealing with the market environment involves applying marketing strategies that include strategies on the product, the price, the place, and promotion. To successfully win the market, a marketer must have to design a marketing strategy - a mix of the four Ps that is appropriate to the target market. However, since the buyers are not in a vacuum which means that they live amidst social, political, and environmental forces, the company must consider the nonmarket environment - these are all other factors outside the market environment.

What is nonmarket strategy?
An online source noted that nonmarket strategy recognizes that businesses are ...

Solution Summary

The solution emphasizes that a successful business is a product of both market and non-market strategies, it compares and contrasts between the two and focuses on pharmaceutical industries. All references used are included.

See Also This Related BrainMass Solution

Design and usage of information technology for business owners

Discussion Topic: Information Systems in Business Settings

Question 1:

When considering the impact of the information age on business, what are some issues business owners should address in deciding to use information technology. Would the type of business determine the appropriate information system? What are some types of organizational processes and procedures in businesses that could be improved using information systems? What type and why?

View Full Posting Details