BANA 2082 Chapter Notes - Chapter 2: Organizational Culture, Adidas, Overnight Delivery
8 Nov 2020
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Document Summary
A marketing strategy identifies (1) a firm"s target market(s), (2) a related marketing mix (its four ps), and (3) the bases on which the firm plans to build a sustainable competitive advantage. A sustainable competitive advantage is an advantage over the competition that is not easily copied and can be maintained over a long period of time. A competitive advantage acts like a wall that the firm has built around its position in a market. This wall makes it hard for outside competitors to contact customers inside otherwise known as the marketer"s target market. Of course, if the marketer has built a wall around an attractive market, competitors will attempt to break down the wall. Over time, advantages will erode because of these competitive forces, but by building high, thick walls, marketers can sustain their advantage, minimize competitive pressure, and boost profits for a longer time. Thus, establishing a sustainable competitive advantage is key to long-term financial performance.
