MKTG 2030 Lecture Notes - Lecture 1: Market Segmentation, Pricing Strategies, Marketing Plan
Document Summary
There are 2 main factors that brings about the differences between a successful company and its competitors. Winning organizations plan, devise and maintain a structured, focussed and clearly stated marketing strategy. This is the number one factor that accounts for a company"s success over its competitors. Successful companies starts with a simple value proposition that depends to a whole lot extent on consumer behaviour. This is known as the company"s marketing strategy. Now the second most important factor that creates the line of difference between a winning and a losing company is the implementation of the strategy. If the implementation of the strategy is weak then the strategy itself as a whole will fail indefinitely. Strategy: it is an organization"s ability to create superior value for its customers and, in the process give it a competitive advantage over its competitors/rivals. Marketing: it is a disciplined process that is used by an organization to solve business problems.