BU352 Chapter Notes - Chapter 2: Operational Excellence, Customer Service, Marketing Mix
Document Summary
Chapter 2 developing marketing strategies and a. Identifies: a firm"s target markets, related marketing mix (the 4 ps, bases upon the firm plans to build a sustainable competitive advantage. The goal is to do something better than the competitors that is hard to copy and you can maintain over a long period of time. There are 4 strategies used to develop this competitive advantage: customer excellence. Retaining loyal customers this is an advantage because your customers will continue to buy from you throughout their lives, and this is much more important than a one-time purchase. You can achieve this by using customer loyalty programs to create an emotional attachment. Customer service i. e. the baristas at starbucks all greet you in a friendly way and try to make drinks consistently. Once you develop a reputation for having good customer service then you put pressure on the competition to do the same: operational excellence.
