Yes. The corporate strategy answers the fundamental question of what the organization wants to achieve. It is a detailed plan on how an organization intends to implement its vision and vision in order to achieve certain set goals. The organization mission may be to grow product in the market by 25% in four years. Its vision may be to be a market leader in five years. While recognizing the vision and mission, the corporate strategy may be to leverage its brand to convince the customers that it its product offers more values than that of the competitors.
However, it would not be possible to implement such a corporate strategy without a proper linkage with the marketing strategy. Although the corporate strategy may be to leverage the organization brand, without appropriate market planning, it would be difficult to determine the strategies of leveraging the brands in the market. Essentially, the corporate strategies offers a broader look at the industry at the competitive level, while the marketing strategy offers detailed tactics on how the corporate strategies of brand leverage can be implemented.
Moreover, the linkage of the marketing and corporate strategies is essential for the reinvention of the organization vision and mission. The data from the market research can provide useful information for product design. Therefore, it is essential that the market and corporate strategies be linked together to ensure the marketing practices and corporate strategies fight for common goals and objectives. This is essential if the organization intends to meet its vision and mission.
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