BU354 Chapter Notes - Chapter 2: Human Resource Management, Customer Relationship Management, Operational Excellence
Document Summary
Bu352- chapter 2: developing marketing strategies and a marketing. What is a marketing strategy: marketing strategy: identifies a firm"s target market(s), a related marketing mix- the four. What possible sustainable competitive advantages exist and who do they appeal to. What group is going to be interested in our product, and how do we put that into action. Developing customer value: how you can focus on a sustainable competitive advantage. Customer excellence: customer excellence: focuses on retaining loyal customers and excellent customer service, achieved when firms develop value-based strategies for retaining loyal customers and provides outstanding customer service. Multiple sources of advantage: firms require multiple approaches to build a wall around their position that stands as high as possible, multiple approached, customer value, customer service, customer relations, great prices, good service = good value. Step 3: identify and evaluate opportunities by using stp.