Marketing Strategy
Marketing Strategy
Strategy 1
Running Head: STRATEGY
Strategy
Strategy 2
Positioning for substantial competitive advantage is focusing on the use of resource-based strategic perspective. Through the development of company resources and capabilities, a company’s goal is to create value for the consumer. In the modern, global economy, intellectual capital has become a point of focus. Companies have realized that knowledge , and expertise are resources as well, focusing on acquiring the right workforce has been made a focus of priority (Kluyver 2006). The use of an effective positioning strategy will give the consumer the perception that one’s company does something better than its competitors, thus creating value. A companies positioning must also be somewhat fluid. Factors such as competition and an evolving consumer require that a company be in constant maintenance of its products and services.
Choices about which industries to participate plays a key factor in a marketing strategy. A company must chose industries in which its products and services can preserve differences between its competitors for a meaningful period of time. Creating a competitive advantage requires that a company is more effective at creating a product or service than its rivals in that industry. Nike successfully entered the golfing industry with its Nike Golf division. A large part of the success of Nike Golf was the endorsement of Tiger Woods. Nike was able to create a competitive advantage because the most visible athlete in the sport, and maybe on the planet, was the spokesperson for their products.
How to allocate corporate resources is an important decision when formulating a marketing strategy. Deciding who gets what, and how much, is a balancing act, allocating money to research and development will result in better products. A competitive advantage is to be had if one can create superior products compared to its rivals. Allocating financial resources
Strategy 3
to manufacturing will result in creating your products more efficiently. Advanced manufacturing methods allow companies to create its product