ABSTRACT
Market redefinition is a crucial strategic decision for organizations; clearly, it is not an exercise for executives to take lightly. The strategic window concept states that a careful analysis and choice of various redefinition options is essential for capitalizing on the timing, resources, and capabilities fit between a firm and its defined market. Key motivations for market redefinition were management decision, technology, market or competitive analysis, and low sales. There are two aspects of market redefinition are evaluated: the frequency with which business firms define markets and which redefinition strategies are most successful. Rapid change and market uncertainty in business markets implies that successful firms are responsive and proactive with respect to their market environments. Abell proposed seven alternative strategies for market redefinition based on changes in customer groups, customer functions, and technologies. The information technologies market, which broadly encompasses telecommunications, computers, microprocessors, software, video, and related technologies, illustrates the convergence and complexity of markets, and the market definition dilemma.
