Management and Organizational Studies 2320A/B Chapter Notes - Chapter 2: Corporate Social Responsibility, Customer Relationship Management, Pro Forma

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Angela White

Document Summary

Chapter 2- developing marketing strategies and a marketing plan. The bases upon which the firm plans to build a sustainable competitive advantage. A sustainable competitive advantage is an advantage over the competition that is not easily copies and thus can be maintained over a long period of time. Retaining loyal customers strong brand, unique merchandise, superior customer service: sustaining advantage over competitors, create emotional attachment through loyalty programs customer relationship management (crm) Customer service needs to be consistent to create a sustainable competitive advantage. Provide customers with what they want and when they want it. Usually results in selling merchandise for lower prices. Developing sophisticated distribution and information systems as well as strong relationships with vendors. Firms with strong relationships may gain exclusive rights to: sell merchandise in a particular region, obtain special terms of purchaser that are not available to competitors, receive popular merchandise that may be in short supply. Understanding consumer needs and satisfying those needs.