MKT 100 Chapter Notes - Chapter 2: Strategic Business Unit, Sales Promotion, Tim Hortons
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MKT 100 Full Course Notes
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Marking strategy identifies (1) a firm"s target market (s) (2) a related marketing mix the four ps, (3) the bases upon which the firm plans to build a sustainable competitive advantage. Willing to pay relatively high prices for this: tim hortons customers aren"t particularly interested in having an experience. They just want a good-tasting cup of coffee at a fair price, and to get in and out quickly. Four strategies that focus on the marketing mix to deliver value and develop sustainable competitive advantages: Customer excellence focuses on retaining loyal customers and excellent customer service: value-based strategies for retaining loyal customers. By so doing, they ensure good value to their customers, earn profitability for themselves, and satisfy their customers" needs: ex. Netflix and how it is offered wherever: ipad, tv, wii. Product excellence focuses on achieving high-quality products and effective branding and positioning: ex.
