Customer strategy can be linked to competitor strategy through its ability to create sustainable competitive advantages. Using customer-driven strategy and customer relationship marketing techniques and approaches an organization is likely to develop competitive advantages that will build loyalty and customer satisfaction. Noteworthy in this regard, is what Grewal & Levy, (2014) state concerning customer excellence. According to the duo customer loyalty can be maintained if a firm develops value-based strategies for retaining loyal customers and provide outstanding customer service. It is also important to note that having a strong brand, unique merchandise, and superior customer service all help solidify a loyal customer base. It is also …show more content…
(2002) defined Quality as “consumer’s perception of the overall quality or superiority of a product or service with respect to its intended purpose, relative to alternatives”. Quality from a consumer’s perspective is referred to as ‘perceived quality’. Quality, in the customer’s context, is not technical but perceptions about the products, tangible and intangible, that the consumer observes. This creates customer satisfaction and value by consistently and profitably meeting customer’s needs and preferences for quality, and influences its purchase decision. Brands vary in the amount of power and value they have in the market place. At one extreme are brands that are not known by most users. While on the other, there are brands for which buyers have fairly high degree of brand awareness. The author explains further that Brand awareness is the durability of a brand that is embedded in the customer memory. Therefore, brand awareness will be created by ongoing visibility, enhancing familiarity and powerful associations with related offerings and buying experiences. However certain aspects relating to the effects of brand value on the customer relationship marketing and its effect to the organizational performance is not clear and this research aims to fill this
For the business-level, Trader Joe’s adopted a differentiation focus strategy. According to our textbook with this strategy, Trader Joe’s seeks to differentiate in its target market. They rely on providing better service than broad-based competitors. Specifically, they focus on the special needs of the buyer in other segments (Dess, Page 159). Joe’s differentiates its self from other grocers by providing a unique shopping experience fortified with their private label goods and great service from their crew members.
2. Total quality Management According to the Harvard business school professor David A. Garvin, the quality of a product is based on eight important dimensions which are: performance, features, reliability, conformance, durability, serviceability, aesthetics and perceived quality . The PRADA Group is particularly known for the outstanding quality of its manufacturing processes, and for its excellent raw materials, which are the main determinates to its successful high quality products. The Marketing
Brands are complex offerings that are conceived by organisations but ultimately resides in the consumers mind (De Chernatony, 2010). A brand thus signals to the customers the source of the products and services and protects both the competitor who would attempt to provide products and services that appear similar or identical (Aaker, 2004). Brands provides the basis upon which consumer can identify and bond with a product or service or group of products and services (Weilbacher, 1995). A brand is a specific uniqueness associated with a product or services that enables the consumers connect with it by easy identification through the name, slogan, design, logo, symbols, etc. of the organisation that produces the products or
3.1 Explain how products are developed to sustain competitive advantage There are three levels of coca cola’s products. They are core product, actual product and augmented product. Core product Coca cola’s products are high quality standards for the customer.
The four building blocks of competitive advantage can be used to help a company become more profitable and stay ahead of their competition. The four factors are superior efficiency, quality, innovation, customer responsiveness. All four building blocks are important to any company. However, I believe that customer responsiveness is the most important because having loyal and happy customers can make or break any company. The four building blocks can help companies grow and become the leader in their industry over their rivals.
Strategic marketing is a broad and practical subject which included the concept of marketing subjects of previous semesters such as business marketing. The study of this subject has contributed to marketing knowledge in many ways, as well as it has strengthened my skills in application of marketing concepts. My knowledge was increased that I was able to develop a complete strategic marketing plan of not only on the part of marketing analysis or strategy of a product or service, but also the whole corporate plan. My skills and capabilities that were developed and integrated during lectures and tutorials include the analytical skills, coordination skills, presentation skills, organization skills, etc.