Alexander Chernev

The success of an offering is defined by the company’s ability to design, communicate, and deliver market value. The particular way in which an offering creates value is determined by the company’s business model and its two building blocks: strategy and tactics. The key aspects of developing an offering’s strategy, designing its tactics, and crafting a market value map are the focus of this note. The discussion of marketing strategy and tactics is complemented by an in-depth overview of two additional topics: the 3-C, 4-P, and 5-Forces frameworks and the key aspects of analyzing the market context. This note is an excerpt (Chapter 2) from Strategic Marketing Management: Theory and Practice by Alexander Chernev (Cerebellum Press, 2019).

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