MGMA01H3 Chapter Notes - Chapter 18: Market Orientation, Operational Excellence, Fujifilm
Document Summary
It is crucial to build customer relationships and gain competitive advantage and this requires delivering more value and satisfaction to target customers that competitors. Competitive marketing strategies: how companies analyze their competitors and develop successful, value-based strategies for building and maintaining profitable customer relationships. Identifying key competitors; assessing their objectives, strategies, strengths and weaknesses and selecting which competitors to attack or avoid. Company must compare its marketing strategies, products, prices, promotions with its key competitors. This way companies can find out potential competitive advantage or disadvantage. Companies may see their competitors as all the businesses producing that product. They must avoid competitor myopia: company is more likely to be buried by its latent competitors than its current ones. For example kodak probably thought that fujifilm would take them over but instead it was the competitors they didn"t see coming: sony, samsung.
