Strategic window
DESCRIPTION
Also called a window of opportunity, the period of time where propitious or desirable conditions exist for a firm to implement a strategic action aimed at taking advantage of a particular marketing opportunity.
Also called a window of opportunity, the period of time where propitious or desirable conditions exist for a firm to implement a strategic action aimed at taking advantage of a particular marketing opportunity.
KEY INSIGHTS
The strategic window concept provides a basis for anticipating and responding to changes in the marketplace. The classic journal article on the subject by Abell (1978), for example, advocates that firms should time their investments in products or markets when such strategic windows are open. In this sense, the concept captures the notion that there are only limited periods of time when there is a good fit between market conditions and a firm’s capabilities and competencies relative to a particular strategic marketing objective.
The strategic window concept provides a basis for anticipating and responding to changes in the marketplace. The classic journal article on the subject by Abell (1978), for example, advocates that firms should time their investments in products or markets when such strategic windows are open. In this sense, the concept captures the notion that there are only limited periods of time when there is a good fit between market conditions and a firm’s capabilities and competencies relative to a particular strategic marketing objective.
KEYWORDS Window of opportunity, timing, strategic action
IMPLICATIONS
Marketers engaged in planning processes aimed at anticipating and responding to changes in the marketing environment may benefit from a greater appreciation and understanding of the strategic windows concept. For example, the timing and size of commitments of marketing funds to new marketing initiatives and the phasing out of funding to current initiatives are just some of the issues that marketing strategists must address. Identifying and evaluating strategic windows in such contexts can be of major importance to the long-term viability of a firm.
Marketers engaged in planning processes aimed at anticipating and responding to changes in the marketing environment may benefit from a greater appreciation and understanding of the strategic windows concept. For example, the timing and size of commitments of marketing funds to new marketing initiatives and the phasing out of funding to current initiatives are just some of the issues that marketing strategists must address. Identifying and evaluating strategic windows in such contexts can be of major importance to the long-term viability of a firm.
APPLICATION AREAS AND FURTHER READINGS
Marketing Strategy
Lilien, Gary L., and Yoon, Eunsang (1990). ‘The Timing of Competitive Market Entry: An Exploratory Study of New Industrial Products,’ Management Science, 36(5), May, 568–585.
Lilien, Gary L., and Yoon, Eunsang (1990). ‘The Timing of Competitive Market Entry: An Exploratory Study of New Industrial Products,’ Management Science, 36(5), May, 568–585.
Dickson, Peter R., and Giglierano, Joseph J. (1986). ‘Missing the Boat and Sinking the Boat: A Conceptual Model of Entrepreneurial Risk,’ Journal of Marketing, 50(3), July, 58–70.
BIBLIOGRAPHY
Abell, Derek F. (1978). ‘Strategic Windows,’ Journal of Marketing, 42(3), July, 21–26.
Abell, Derek F. (1978). ‘Strategic Windows,’ Journal of Marketing, 42(3), July, 21–26.