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Relevant for strategic management courses as well as market management, this textbook provides a synthesis of literature in the field of strategy and can be used at both the undergraduate and MBA levels. This edition includes the latest research and many new examples with a global perspective, reflecting the new thrust to integrate marketing throughout the organization. Competition is stressed as an integral part of making strategic positioning decisions. Building on a basic model for strategy development, the author systematically describes the process of defining and executing a company marketing strategy.