MGMA01H3 Chapter 18: Chapter 18 Notes

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1 Apr 2011
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Competitive advantage an advantage over competitors gained by offering consumers greater value than competitors do. Competitor analysis: constantly compare its marketing strategies, products, prices, channels, and promotions with those of close competitors, can find areas of potential advantage and disadvantage. Identifying competitors: company might define competitors as all firms making the same product or class of products, avoid competitor myopia a company more likely to be buried by its latent competitors that its current ones c. Destroy a close competitor brought in tougher competitors by acquiring c. Blue ocean strategy the goals is to make competition ir relevant www. notesolution. com iv. Works to reduce costs and to create a lean and efficient value delivery system. Serve customers who want reliable, good-quality products or services: customer intimacy provides superior value by precisely segmenting its markets and tailoring its products or services to exactly match the needs of targeted customers.