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Strategic Marketing - Essay Example

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The researcher of this essay discusses the statement of David Packard which sounds like this: “The first principle of management is that the driving force for the development of new products is not technology, not money, but the imagination of people.”…
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Strategic Marketing
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Strategic Marketing

In the above statement, he emphasized on the imagination of people for bringing new product development with innovative technologies. In the gradual development of globalization, the technological advancement is one of the most vital factors. The process of globalization has led to change the thoughts, views and opinions of human beings and they become more capable of imagining which was once considered to impossible (Samli, 2011, p.125). The capability of imagination is the most powerful strength of mankind that has brought significant developments. Basically, the imagination acts as a tool for inspiration and it motivate people to be innovative. In this regard, Morgan has commented correctly that “imagination motivates people to climb mountains, to paints pictures and to win races” and people are applying their imagination in the field of business management (Morgan, 2001, p.79). The greatest innovation in the world is a successful outcome of imagination. People may possess necessary technological knowledge and expertise or necessary monetary requirement. No doubt that these factors are indispensible for product development but the first priory is creativity based on with the technological knowhow is applied for practical implications. Archytus of Taremtum, the great mathematician during 400 B.C. imagined and created a wooden bird which was able to fly. Finally, in 1950s, George C. Devol first invented and patented modern robot which was based on imagination developed by Archytus 400 B.C ago. There are also an ample numbers of such examples that proves that imagination is prime factors behind development of new products (Patel, 2011, p.5). Question 3 “Evaluation consumes high proposition of...
The researcher states that in the process of strategic business management, evaluation is one of the most critical steps for any company. In the process of evaluation, the effectiveness of implemented strategies and performances of each responsible employee are assessed for further betterment of entire situations. The performance evaluation of each employee is helpful in identifying the areas of improvements though proper performance appraisal methods. These performance appraisal methods are also meant to offer promotions, higher remunerations and incentives. The process of evaluation affected time and energy of marketing executive that can be used for more productively. The task of marketing executives generally includes the development of marketing campaigns and promotions of products and services for generating higher amount of sales. Their tasks are very challenging and they have to use their creativity to attract the target audience and target market. Creativity comes from the imagination and for motivating the marketing executive to think creative marketing ideas, it is necessary to provide sufficient time and energy. In the evaluation process consumes the time and energy of each employee including marketing executive. Therefore, the management must consider such drawbacks of evaluation for marketing executives. William R. King have identified that performance appraisal of marketing executives are difficult to interpret as task of marketing like creating ideas cannot be directly quantify. ... Read More
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