The process of studying how to exploit a firm's resources to achieve short-term and long-term marketplace success,deciding upon a course of action,and flexibly updating it as learning occurs during implementation is _______.

Question

Quizplus · Accepted Answer

Crafting market strategy involves analyzing a firm's resources and using them to achieve long-term and short-term success in the marketplace. This process involves selecting a course of action and being flexible enough to update it as implementation takes place. Understanding firms as customers, customer relationship management, and market sensing are all important concepts in marketing, but they do not specifically refer to the process described in the question.

The Process of Studying How to Exploit a Firm's Resources