Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Creating Competitive Advantage
In marketing two key trends for the twenty-first century are: (a) the trend toward the utilization of relationship marketing to develop customer satisfaction; and (b) the trend toward in-depth competitor analysis as a means of recognizing the company's major competitors (by using both an industry and market-based analysis) and nearly examining and formulating strategy to deal with competitors' objectives, strengths, strategies and weaknesses, and reaction patterns.
A company must consider its competitors to be successful, as well as its real and potential customers. In the procedure of performing a competitor analysis, the company analyzes and gathers information carefully on competitors' strategy and programs. A competitive wise system helps the company obtain and manage competitive information. The company has to then select a competitive marketing strategy of its own. The strategy selected depends on the company's industry position and its opportunities, objectives and resources. In the chapter many basic competitive strategies are outlined. Some of these are time-tested and relatively new. The first is that of the market leader that faces three challenges: expanding the overall market, defensive market share, and expanding market share. The market leader is interested in discovering ways to expand the overall market because it will benefit most from any growing sales. The leader must also have an eye toward defensive its share. Many strategies for accomplish this protection task are presented. Aggressive leaders also attempt to expand their own market share. The second position is of the market challenger. It is a firm that insistently tries to expand its market share by attacking the manager, other runner-up firms, or smaller firms in the industry. The third position is of the market follower which is designated like a runner-up firm that select not to rock the boat (typically out of fear that it stands to lose more than it may gain). At last, the market niche is a position choice open to smaller firms that serve some of the part of the market that is not likely to draw the attention of the big firms. These firms frequently survive by being specialists in some of the function that is striking to the marketplace. The competitive analysis of the four competitive position options existing. This information may be used by every mid-level tactical planner who seeks insight into competitive scheme dynamics.
(a) Explain with example the concept of anatomy of a product. (b) Differentiate between a brand mark and a brand name. (c) Draw an appropriate diagram to illustrate the impor
What is profitability control in MIVE? Profitability control in MIVE: There is no point in squandering scarce resources on marketing attempts which guarantee nothing exce
Explain in role of managers in marketing communication Managers are now required not only to find new ways to communicate but also to do so on reduced budgets and they should a
Question 1: a) What is meant by Customer Relationship Management (CRM)? b) Nestlé's products include baby food, bottled water, breakfast cereals, coffee, confectionery, da
brief explanation on positioning
CASE STUDY- Chubb Security Systems Chubb, an organization noted for its locks and security systems, developed a security product particularly suited to manufacturing organizat
Q. Use of array in assembly language? Let's write a program to add two 5-byte numbers stored in an array. For illustration two numbers in hex can be: Let's also presu
Macro environment: macro environment refers to those factors, which are not concerned to the immediate environment. These factors are external to the company and are quite uncomfo
Question 1: Describe the evolution of malls and specialty stores Detail explanation on ‘Evolution of Malls'. Detail explanation on ‘Speciality Stores and Malls'
Illustrate the main roles of communication At a fundamental level, communication can assume one of four main roles: 1. It can inform and make potential customers aware of a
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd