SUCCESSFUL MARKETING STRATEGIES - A STUDY OF BRITISH AND GERMAN COMPANIES IN THE MACHINE-TOOL INDUSTRY

This empirical study compares the marketing strategies and organizational characteristics of successful and less successful competitors operating in the machine tool market. Successful manufacturers are shown to develop long-term strategies with a greater emphasis on market share. Their higher level of market focus is demonstrated by their clear understanding of the changing needs of machine tool buyers. In addition, successful companies were found to be largely planning oriented while maintaining a balanced organization. Less successful competitors, meanwhile, were found to emphasize short-term strategies-survival, in particular. Many lacked a clear understanding of their customers' requirements and the need to develop machine tools to match those changing needs. Planning was of little importance to these companies.