COMMERCE 2MA3 Lecture 2: Chapter 2
13 Sep 2016
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Chapter 2 notes: developing marketing strategies and a marketing plan. How to have a sustainable competitive advantage sca; long-term, competition. The four ps; must be in synergy with each other. Lower prices indicate lower quality. shouldn"t be able to copy it. Strong brand presence through the logo and the slogan. Strong and loyal customer base that is a long-term advantage over competition. C. ) something the firm can consistently do better than competitors. Its 10 times as high attracting new customers versus retaining new ones. Introduce new products and change price points at lower risk. Excellent supply chain management (i. e. zara: product excellence. High perceived value + effective branding and positioning i. e. apple, people get excited when they announce new products: locational excellence. The three most important things in retailing are location, location, location . Location is sustainable until you leave the location. You should build multiple areas of excellence because then its not that easy to copy.
