SUCCESSFUL MARKETING STRATEGIES - A STUDY OF BRITISH AND GERMAN COMPANIES IN THE MACHINE-TOOL INDUSTRY

This empirical study compares the marketing strategies and organizatio nal characteristics of successful and less successful competitors oper ating in the machine tool market. Successful manufacturers are shown t o develop long-term strategies with a greater emphasis on market share . Their higher level of market focus is demonstrated by their clear un derstanding of the changing needs of machine tool buyers. In addition, successful companies were found to be largely planning oriented while maintaining a balanced organization. Less successful competitors, mea nwhile, were found to emphasize short-term strategies-survival, in par ticular. Many lacked a clear understanding of their customers' require ments and the need to develop machine tools to match those changing ne eds. Planning was of little importance to these companies.