Corporate imagination and expeditionary marketing

Area of Science:

• Business Strategy
• Marketing Innovation

Background:

• Historically, competitive success relied on cost and quality advantages in established markets.
• The 1990s paradigm shift emphasizes creating and dominating new markets.

Purpose of the Study:

• To explore the prerequisites and key drivers for creating new markets.
• To introduce the concepts of corporate imagination and expeditionary marketing.

Main Methods:

• Analysis of strategic shifts in market competition.
• Case studies illustrating the application of corporate imagination and expeditionary marketing.

Main Results:

• Core competencies are foundational for new market creation.
• Corporate imagination, achieved by transcending served market limitations, and expeditionary marketing are crucial.
• Expeditionary marketing involves low-cost, rapid market entries to explore and define new territories.

Conclusions:

• Companies must redefine failure and adopt new performance metrics to foster imagination.
• Encouraging managers to expand their strategic horizons beyond current businesses is essential for innovation.