Create a compelling competitor advantage

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Reference no: EM13936973

This is a broad-based unit which gives learners the opportunity to apply the key principles of marketing. Firstly, the unit looks at the definitions of marketing and what is meant by a marketing orientation and the marketing process. Next, learners consider the use of environmental analysis in marketing and carry out their own analyses at both macro and micro levels. They will also investigate the importance of market segmentation and how this leads to the identification and full specification of target groups. Learners then consider buyer behaviour and positioning.

The unit looks at the main elements of both the original and the extended marketing mix. This includes an introduction to the concept of the product life cycle, new product development, pricing strategies, distribution options and the promotion mix. Finally, learners will develop their own marketing mixes to meet the needs of different target groups. This includes considering the differences when marketing services as opposed to goods. A range of other contexts is examined including marketing to businesses instead of consumers and the development of international markets.

Differentiation is the processes of making your business stand out from rivals - making it different and better.

Marketeers at Argos therefore are continually concerned with addressing the questions:

1. Who are our customers? (Argos needs to find out as much as possible about its customers in order to meet their needs.)

2. Are we offering the right combination of choice, value and convenience?

3. How can we create a compelling competitor advantage? (How is Argos different from the competition?)

4. How can we defend what business we already have and how can we grow?

5. How do we effectively communicate to our customer base?

Reference no: EM13936973

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