Application of Porters Strategic Concept: Study of Awareness and Application by Senior Marketing Executives in Pune, India
Somnath Patil* (Associate Professor, Dr. D. Y. Patil Institute of Management & Research, Pune, Maharashtra, India) and Vishal Wadajkar (Assistant Professor, Dr. D. Y. Patil B-School, Pune, Maharashtra, India), *Corresponding author's Email
Patil, Somnath and Wadajkar, Vishal (2017), "Application of Porters Strategic Concept: Study of Awareness and Application by Senior Marketing Executives in Pune, India", MERC Global's International Journal of Management, Vol. 5, Issue 4, pp. 143-146.
Submitted: April 10, 2017, Revision received: June 30, 2017, Accepted: July 14, 2017
This is a descriptive study to assess the variables of awareness and application of Porter's strategic concept of business using a survey questionnaire. Descriptive hypotheses were set and studied based on primary data collected from 100 senior marketing executives from Pune. They were surveyed from different companies on the awareness and application level of Porter's Strategic Concept in their actual work. Both awareness and application were measured on a 5-point Likert scale for responses to 10 items under each variable. Sample means were compared against the hypothesized population means of the scale midpoint of 2 and were tested for statistical significance at the 95 % confidence level. The study disclosed that both the sample means for awareness and application were statistically significant, albeit on opposite sides. While the awareness mean was found to be well above the hypothesized population mean, the application level mean was found to be considerably lower than the hypothesized population mean. While the total awareness level was found to be statistically significant (Mean = 3.18; SD = 0.87), the total application level was found to be low at (Mean= 1.52; SD = 0.79). The study results indicate that Porter's strategic concepts are not yet well implemented despite good awareness. They remain in the books; in practice, managers do not apply them.
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