MKT 201 Study Guide - Midterm Guide: Customer Relationship Management, Integrated Marketing Communications, Operational Excellence
8 Oct 2018
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A competitive advantage is the key to long-term financial performance: four macro strategies, customer excellence: focuses on retaining loyal customers and excellent customer service. Ex: loyalty programs, disney world customer service: operational excellence: achieved through efficient operations and excellent supply chain and human resource management. Ex: amazon prime free 2-day shipping: product excellence: having products with high perceived value and effective branding and positioning. Ex: having a strong brand name like disney, apple, etc: locational excellence: having a good physical location and internet presence. E(cid:454): m(cid:272)do(cid:374)ald"s high de(cid:374)sit(cid:455: steps in the marketing plan, planning phase, step 1-business mission and objectives, step 2- swot (cdstep- cultural, demographic, social, technological, economic, political) Ex: more advertisement: product development- offers new products or service to a market segment that currently is not served. Ex: mtv establishing websites on top of their new tv show: market development- em ploys the existing marketing offering to reach new market segments, whether domestic or international.
