Management and Organizational Studies 2320A/B Chapter Notes - Chapter 2: Lee Valley Tools, Market Segmentation, Pizza Hut

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: John White

Document Summary

Chapter 2: developing marketing strategies and a marketing plan. Nike began in the early 1970s (oregon) and catered to the american market. Adidas retaliates by trying to take over basketball game + buys reebok. Marketing strategy: identifies a firm"s target market(s), a related marketing mix the four ps and the bases upon which the firm plans to build a sustainable competitive advantage. Sustainable competitive advantage: something the firm can persistently do better than its competitions that is not easily copied and thus can be maintained over a long period of time e. g. nike"s competitive advantage: its brand the swoosh sign. Through a competitive advantage: firms can sustain their competitive advantage, minimize competitive pressure + boost profits for a longer time. Four overarching strategies on how to achieve a competitive advantage: : Customer excellence: focuses on retaining loyal customer + excellent customer service. Operational excellence: achieved through efficient operations and excellent supply chain + hr mngt.