COMM 296 Chapter Notes - Chapter 2: Root Mean Square, Predictive Analytics, List Price
Document Summary
Comm296 - chapter 2 - developing marketing strategies/marketing plan. Identi es a rm"s target market, marketing mix and method of obtaining a sustainable competitive advantage. Sustainable competitive advantage = something rm can do better than its competition for an extended period of time (hence sustained) Developed value based strategy for retaining loyal customers and provides out standing customer services. Lululemon ensures that customer clothing is backed by lifelong guarantee and allows. Csr to make judgement upon usage/wear when customers come to get something xed. Rms focus on ef cient operations and excellent supply chain management. Rms focus on high quality products meaning the brand and positioning are key. Having multiple sources of advantage is a key to major success in most markets a single advantage is not enough. A rm must build a wall of multiple advantages for best success. Scan of environment broken then into internal (strength and weakness) and external analysis (broken into threats/opportunities)
