MKT 460 Lecture Notes - Lecture 4: Statistical Classification, Swot Analysis
Document Summary
Ch 4: developing competitve advantage and strategic focus: major benefits of a swot analysis. Look for causes, not characteristics: capabilities and competitive advantages strategies: Operational excellence: a focus on efficiency of operations and processes. They operate at lower costs than their competitors, allowing them to deliver goods and services to their customers at lower process or a better value. Product leadership: firms that excel at technology and product development. These firms offer customers the most advanced, highest quality goods and services in the industry. Customer intimacy: working to know your customers and understand their needs better than the competition is the hallmark of customer intimacy. These firms attempt to develop long- ter(cid:373) relatio(cid:374)ships (cid:449)ith (cid:272)usto(cid:373)ers (cid:271)(cid:455) seeki(cid:374)g their i(cid:374)put o(cid:374) ho(cid:449) to (cid:373)ake the fir(cid:373)"s good a(cid:374)d services better or how to solve specific customer problems: general directions for strategic efforts: Aggressive (many internal strengths/many external opportunities): can develop marketing strategies to take on multiple opportunities.
