MKT 100 Chapter Notes - Chapter 2: Lee Valley Tools, Aquafina, Tim Hortons

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Paul Gillespie

Document Summary

Marketing chapter 2 (developing marketing strategies and a marketing plan) Building a sustainable competitive advantage/developing customer value: customer excellence. Enables a firm to introduce new products and change price points without the risk of losing them. Allow firms to provide their customers with lower-priced merchandise. Firms strive to get their customers the merchandise they want, when they want it, in the required quantities and at a lower delivered cost than that of their competitors. Doing so, ensures good value to their customers, profitability for themselves and satisfying their customer needs. Example: the supply chain for netflix represents a remarkable innovation (streaming services). Customers can receive videos instantly using their tablets, tv or computer: product excellence. Example: apple vs. sony both had ipods but apple took over: locational excellence. A competitive advantage based on location is sustainable because it is not easily duplicated. Example: tim horton"s and starbucks have developed a strong competitive advantage with their location selection.