Strategy can be defined in the field of administrative sciences as the way of an organisation to devise its external affairs and use its resources in order to outperform its competitors and make a difference.
In the present day, due to the increasing number of competitors, all companies make efforts to designate new strategies and develop new application methods. By following this way, they obtain both the power to compete with other companies and the opportunity to survive in the market by outperforming their competitors. However, they should prepare a strategic plan in which they can determine the direction the company shall take in the future and how it will reach the desired target. This process will lead them to earn company specific features too which can distinguish them from others as an organisation. In other words, organisations should find a novel ways to compete where innovation management takes place.
Innovation management can be defined as a generally technological process which covers the company’s business processes and human relations. Thus, in order for a company to apply innovation management successfully, its technical resources and successful management of these resources are of importance. The harmony of these factors relates to the company’s organizational and strategic skills.
Neuromarketing is one of the most important innovative methods which distinguish companies from others in the present day. In this context, it is important for companies to lean toward neuromarketing studies to increase competitiveness, and thus understanding their customers better and gain strategic advantage.
Author: Asst. Prof. Dr. Seray TOKSÖZ