MKTG 471 Lecture Notes - Lecture 2: Channel Bonding, Peripheral Vision, Competitive Advantage
Document Summary
Chapter 2: developing and implementing marketing strategies and plans. The task of any business is to deliver customer value at a profit. A company can win only by fine-tuning the value delivery process and choosing, providing, and communicating superior value to increasingly well-informed buyers. A source of competitive advantage and makes a significant contribution to perceived customer benefits. Applications in a wide variety of markets. Competitive advantage also accompanies distinctive capabilities or excellence in broader business processes. Wharton"s george day sees market-driven organizations as excelling in 3 distinctive capabilities: market sensing, customer linking, and channel bonding. Maximizing core competencies (re)define the business concept (re)shaping the business scope (re)positioning the company"s brand identity. In terms of market sensing, day believes tremendous opportunities and threats often begin as weak signals from the periphery of a business. He suggests systematically developing peripheral vision by asking 3 questions related to learning from the past, evaluating the present, and envisioning the future.
