Marketing strategies for the 21st Century: lessons from the top Hungarian companies

Abstract

The paper discusses changes taking place in the competitive markets of the late 1990s and predicts future directions for the development of marketing strategy. Empirical findings from a study recently completed in Hungary are presented and key factors in the strategies of the more successful firms identified. Drawing on this research and other studies the authors propose a number of fundamentals for strategy in a changing world. Specifically the paper calls for future strategies to be based around: i) creating a learning organization; ii) heightened market orientation and a focus on creating superior customer satisfaction; iii) competitive positioning based on marketing assets, capabilities and competencies; iv) establishing closer relationships with key customers; and v) finally, rethinking the role of marketing in the organization.