Ask a Question
Home
Take a Tour
Study Tips
Help Pages
Contact Us
Gallery
Recently Added
Videos
Search
Blogs
Science Blog
Fantastic Facts Blog
Academic Blog
Dictionary
Add New Word
Random Term
Recent Changes
Resource Library
Share Your Resources
Recently Added
Search
Forum
Ask a Question
Log In
Log In
Forgot your password?
Sign Up
for all your
science
needs
Forum
Search
Advanced Search
Image Gallery
Resource Library
Topics
Unresolved Questions
Discussions
Trending
Recent Posts
Chat
Subjects
Join over
250,000
students, educators, and subject enthusiasts in our free online study community
More
Q & A Board
Entire Website
Gallery
Resource Library
Dictionary
Blogs
Search through 1.7M homework questions
Unresolved Questions
•
Discussions
•
Recent
Top Posters
Since Sunday
261
150
25
24
22
22
21
21
21
20
20
19
Post a New Question
Current Questions
Home
Q & A Board
Other Fields Homework Help
Business
Print
New Topic
Describe the different approaches to integrate market and nonmarket strategies.
pulseh14
pulseh14
wrote...
Go to Answer
Posts:
257
Rep:
0
0
3 weeks ago
3 weeks ago
Describe the different approaches to integrate market and nonmarket strategies.
Describe the different approaches to integrate market and nonmarket strategies.
Source
Download Study Guide
Business and Its Environment
Edition:
7
th
Author:
Baron
Search Textbook Q's
Read 6 times
1
Reply
Report
Replies
Answer verified by a
subject expert
ruthalvarez
ruthalvarez
wrote...
#1
Answer Link
Posts:
169
Rep:
176
0
3 weeks ago
3 weeks ago
Sign in
or
Sign up
in seconds to unlock everything on Biology Forums.
One approach to developing an integrated strategy is to incorporate nonmarket strategy formulation into the process of developing a market strategy. For example, regulation pertaining to who may provide services, as in telecommunications, could be incorporated into the analysis of the rivalry among incumbent firms and potential new entrants. The drawback to this approach is that the institutions in which regulatory policies are established are quite different from markets, so the nature of the analysis is different. Moreover, in markets only the parties that transact play a role, whereas in nonmarket institutions, a wide range of interests are enfranchised to participate.
Market and nonmarket strategies could also be viewed as separate. Just as market analysis focuses on competitive forces, nonmarket analysis can focus on assessing threats (such as those arising from government, interest groups, and activist pressures) and on unlocking market opportunities. Viewing nonmarket issues as a separate force, however, risks missing the interrelationships between market and nonmarket issues and the complementarities between strategies to address those issues.
The most effective means of integrating market and nonmarket strategies is to incorporate both into the business strategy process. That is, market and nonmarket strategies should be chosen together in addressing forces in the market and nonmarket environments.
The nonmarket strategy component then focuses on specific nonmarket issues that affect market threats and opportunities and on nonmarket actions as complements to market actions.
For some companies such as those in the pharmaceutical industry, integrated market and nonmarket strategies are a conscious part of everyday management. For other companies
Strategy formulation is periodic but nevertheless when market strategies must be developed, nonmarket strategies should be developed at the same time.
This verified answer contains over 280 words.
2
2 Votes
jojoikr
,
annabananerz
Report
Related Topics
Solved
List and describe the three major R&D approaches for implementing strategies.
Solved
When a firm chooses a market strategy and a nonmarket strategy, the strategies compete with the ...
Solved
A synergy is present between market and nonmarket strategies if a nonmarket action increases the ...
Solved
Which of the following characterizes nonmarket strategies?
Solved
The most effective means of integrating market and nonmarket strategies is ________.
Solved
Describe market and nonmarket strategies. Explain the significance of a nonmarket strategy.
Solved
Trade policy does not depend on the market and nonmarket strategies of private interests.
Solved
Formulating integrated strategies requires consideration of the market and nonmarket environments as ...
Load More
New Topic
Quick Reply
[center][color=gray]Please [b]login or register[/b] to leave a reply[/color][/center]
Explore
Post your homework questions and get free online help from our incredible volunteers.
Why Sign Up?
Learn More
Improve Grades
Help Others
Save Time
Accessible 24/7
76 People Browsing
Start New Topic
Take the Tour
Study Tips
Browse by Textbook
New
Related Images
377
69
82
Your Opinion
Does a gender wage gap exist in America?
Yes
No
Not sure
Votes: 19
Previous poll results:
What's your favorite coffee beverage?
Latest Blogs
A single molecule is reversing failing memories
Key energy-producing proteins missing in this plant
A case for why teenagers make risky decisions
Eyeless fish
Animal longevity correlated to these genes
Ready to ask a question on
Biology Forums
?
Try it out
▸
49) Which of the following is applicable to agenda-setting in nonmarket strategies? a) It focuses fi
–
Business
56) A social networking site generates support to pass legislation on carbon taxes by emailing membe
–
Business
64) The new IO perspective on collusion and price fixing is that ________. a) antitrust supervision
–
Business
85) The EPA administers the ________ for the cleanup of existing toxic waste disposal sites. a) Soli
–
Business
95) Which of the following is true with regard to products liability law? a) Products are held to ha
–
Business
Explain the MySQL control-of-flow statements.
–
Computer Studies
6) Which of the following is an example of a global institution? a) Department of Homeland Security
–
Business
50) Strategies involving the provision of political information are ________. a) not used for regula
–
Business
61) Which of the following violations is not per se illegal in antitrust laws? a) allocation of cust
–
Business
44) Which of the following statements is true of entrepreneurial politics? a) An alternative is to b
–
Business
Loading...