What is the role of MPR in the Business Strategy Diamond?

Question

What will be an ideal response?

Answer 1

The Business Strategy Diamond identifies five critical elements of strategic planning. At the core of the Business Strategy Diamond is economic logic, which asks organizations how they expect to realize a return on their investment. The entire marketing function, including MPR is instrumental in determining the answer to this question. MPR contributes to strategic planning by helping managers to understand arena decisions that determine the products a firm will offer and the ways the firm will get these products to market in an effort to satisfy consumers and grow profit. MPR, in tandem with sales and market research, also helps managers align its marketing strategy with the needs of its customers in terms of vehicle decisions - the particular tactics companies use to enter or conduct business in the marketplace. MPR also allows organizations to interpret information about its differentiators - attributes that furnish a company or product with a distinctive competitive advantage. MPR is vital to communicating these key attributes to various stakeholders. A firm can thus gauge whether consumer perceptions of, and behavior relative to, the organization's differentiators is consistent with the company's view of these factors. Finally, MPR serves an important role in ensuring that a company is communicating efficiently and effectively during implementation of its strategic plan, in other words, in the staging of the plan - the speed and sequence of the plan's implementation. Staging is critical to a plan's execution because organizational stakeholders must be aware of the varying phases of the plan at appropriate times. Unimpeded information flow absent of conflicting messages, especially concerning competitive environment, is vital to implementation of strategy and the success of the organization.