Marketing Strategy A Competitive Advantage - 1712 Words

The marketing strategy pursued by a company is dictated by many factors, including size, product category, competition, and organizational structure. Strategy as defined in the text is â€Å"a planned set of actions employed to make best use of a companies core competencies to gain a competitive advantage†. (1) Implementing a successful internationalization business strategy is not confined to large MNEs, increasingly small to medium enterprises find them selves operating in a global market. A business must clearly understand the value added by its product or service to capitalize on their competitive advantage globally. It is useful to consider the internationalization-responsiveness (IR) framework when discussing the key differences between global, multidomestic and transnational strategies. (2) The framework compares the strengths and weaknesses of each strategy relative to the goal of global integration or local responsiveness. In terms of the IR framework a global st rategy emphasizes global efficiency, multidomestic strategy emphasizes the local market and a transnational strategy balances both end goals. Companies best suited to a global marketing strategy offer a homogeneous product or service with little customization required for localized markets. Firms using a global strategy enjoy the advantage of sourcing globally while concentrating production where direct competitive advantage exists. A centralized organizational structure simplifies communication andShow MoreRelatedTrader Joe s Introduction : Marketing Strategy And Competitive Advantage1180 Words   |  5 Pagesachievements are no doubt due to the company’s strategy and competitive advantage. Their strengths and weaknesses are also a critical component to understand when analyzing Trader Joe’s success, as well as its potential going forward. While Trader Joe faces some problems, these obstacles are by no means insurmountable. So how does Trader Joe’s achieve best-in-industry sales per square foot numbers and rank so favorably among consumers? Their corporate strategy of focused differentiation is the primaryRead More‘How Marketing Strategy Can Develop a Competitive Advantage for a Firm?: a Case of Hsbc’9720 Words   |  39 PagesResearch Title: ‘How marketing strategy can develop a competitive advantage for a firm?: A case of HSBC’ ABSTRACT HSBC is considered as one of the largest banks the world which claims itself as world’s local bank. This study is regarding the role of marketing strategy of HSBC in terms of gaining competitive advantage where a questionnaire survey was conducted to identify the impression of the bank in the consumer’s mind. Furthermore secondary data was also analyzed to identify the insight ofRead MoreImplementation And Monitoring Of E Marketing1646 Words   |  7 Pagespreconditions for implementing e-Marketing in any organization regardless its size or business field. These factors like: the existence clear and obvious strategy at an organization level, the presence of the marketing function within the organization, the domination of the marketing function in the development, implementation and monitoring of e-Marketing results, and the presence of a database and building customer relationships. on the other hand the implementation of e-Marketing can be identified withRead MoreStr ategic Marketing Management Essay689 Words   |  3 PagesStrategic Marketing Management Sample Exam Questions Question 1: a. Is the PLC (Product life cycle) concept useful in developing Marketing strategies? Describe why or why not? What are the limitations of the PLC concept? A strategy is a fundamental pattern of present and planned objectives, resource deployments, and interactions of an organisation with markets, competitors and other environmental factors. b. 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Some new ventures do not secure a market positionRead MoreMgc1 Study Guide 21064 Words   |  5 Pagesbegins with a situation analysis of the external and internal forces affecting the organization.  Ã‚  This examination helps identify and diagnose issues and problems and may bring to the surface alternative goals and plans for the firm.  Ã‚  Next, the advantages and disadvantages of these goals and plans should be evaluated against one another.  Ã‚  Once a set of goals and a plan have been selected, implementation involves communicating the plan to employees, allocating resources, and making certain that other