24205 Lecture Notes - Lecture 4: Brand Loyalty, Brand Management, Supply Chain
Document Summary
Strategy is fundamental must be updated on a regular basis. It(cid:495)s a dynamic pursuit as competitors and technology can impact business. Marketing strategy = process of studying how to exploit a firms resources to achieve st and lt market place success (market sensing) Requires significant participation from many functional areas: business strategy as the context for market strategy. * bs strategy = rbv, product leadership or customer intimacy view of firm. Bs strategy market strategy update (when strategy is on track) (resources, value- based strategies) (what/how) * strategy views the firm as a value-generating enterprise. The creation of a unique & valuable position (sustainable comp. adv) Whereas oe just leads to a continuous race against competitors. A resource based view of the firm. Companies as very different collections of assets and capabilities. Resources are the building blocks of strategy. Core competencies = significant contributor to customer benefits. Capabilities = visible by the customer (set of bs processes)
