COMMERCE 2MA3 Chapter Notes - Chapter 2: Operational Excellence, Marketing Strategy, Marketing Mix
23 Jun 2019
School
Department
Course
Professor
Document Summary
Chapter 2 - developing marketing strategies and a marketing plan. Marketing strategy identifies: a firm"s target market(s, a related marketing mix - the four p"s, product xplace, price, promotion (, the bases upon which the firm plans to build a sustainable competitive advantage extremely important. Competition spans product lines, target markets, marketing approaches. The bases upon which the firm plans to build a sustainable competitive advantage. Question: what is sustainable competitive advantage? firm"s advantages over them. A broad description of the firm"s objectives and scope of its activities. Something the firm can consistently do better than its competitors. Written document that discusses competitor strengths and weaknesses, and the. It covers the four strategies to create and deliver value and a sustainable competitive advantage. Retain loyalty: loyal customers enable a firm to introduce new products and change price points without the risk of losing them. This is a good place to talk about loyalty programs.
