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Strategic market analysis and definition: An integrated approach

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  • George S. Day

Abstract

Two distinct approaches to market analysis and definition have evolved. Those approaches which adopt a top‐down persepective, tend to specify markets in terms of competitive capabilities and resource transferability. The alternative bottom‐up perspective emphasizes customer requirements or usage patterns when defining markets. An integrated approach begins with a common model of the principal dimensions of a market. The second element is the recognition that different market definitions are needed for different strategic purposes. Next, the strategic planning framework which links business units and product‐market units should be compatible with these purposes and reflect a strategically relevant balance of cost and demand factors. A procedure for forming business units from groups of product‐markets is shown to be effective for achieving this balance.

Suggested Citation

  • George S. Day, 1981. "Strategic market analysis and definition: An integrated approach," Strategic Management Journal, Wiley Blackwell, vol. 2(3), pages 281-299, July.
    • Handle: RePEc:bla:stratm:v:2:y:1981:i:3:p:281-299
    DOI: 10.1002/smj.4250020306
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    Cited by:

    1. Da Mota de Pina E Cunha, A.M., 1998. "Determinants of Product Innovation in Organizations : Practices and Performance in the Portugese Financial Sector," Other publications TiSEM e6e4e56e-b72a-4392-8d79-f, Tilburg University, School of Economics and Management.
    2. Liviu Neamtu & Adina Claudia Neamtu, 2017. "Market Capacity And Structure As Indicators For Corporate Strategy," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 81-86, December.
    3. Park, Namgyoo K. & Cho, Dong-Sung, 1997. "The effect of strategic alliance on performance," Journal of Air Transport Management, Elsevier, vol. 3(3), pages 155-164.
    4. Geroski, P. A., 1998. "Thinking creatively about markets," International Journal of Industrial Organization, Elsevier, vol. 16(6), pages 677-695, November.
    5. Nadja Hatzijordanou & Nicolai Bohn & Orestis Terzidis, 2019. "A systematic literature review on competitor analysis: status quo and start-up specifics," Management Review Quarterly, Springer, vol. 69(4), pages 415-458, November.
    6. Liviu Neamtu & Adina Claudia Neamtu, 2017. "Market Behavior And Trends As Indicators For Strategic Planning And Business Policy," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 162-167, December.
    7. N. Houthoofd & S. Desmidt & G. Fidalgo, 2009. "Analyzing Firm Performance Heterogeneity: The Relative Effect Of Business Definition," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 09/580, Ghent University, Faculty of Economics and Business Administration.
    8. Raja Roy & Soumodip Sarkar, 2022. "Boundary conditions of the mutual forbearance hypothesis: Impact of technology evolution on multimarket competition," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(6), pages 2545-2556, September.
    9. Neamtu, Liviu & Neamtu, Adina Claudia, 2017. "Complex Market Analysis Model Based On Complex System Of Strategic Decision Needs For Business Company," Management Strategies Journal, Constantin Brancoveanu University, vol. 35(1), pages 311-319.

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