What is Marketing? The word marketing is arguably one of the most common terminologies used in the world of business. Marketing is so important that no business venture can survive without it. But come to think of it, what is marketing? Marketing refers to those activities carried out by a business venture to promote their … Read more
Creating a Differential Advantage Although skills and resources are the sources of competitive advantage, they are translated into a differential advantage only when the customer perceives that the firm is providing value above that of competition. The creation of differential advantage, then, comes with the marrying of skills and resources with key attributes (choice criteria) … Read more
Positioning, Differentiation and Marketing Mix A company’s offer has to be distinct from those of its competitors and should fulfill the requirements of the customers of its target markets. A company’s positioning is the result of whatever the company does. Marketing mix is the most tangible and the most flexible tool to create the desired … Read more
Marketing Mix The marketing mix is a particular combination of the product, its price, the methods to promote it, and the ways to make the product available to the customer. Based on its understanding of customers, a company develops its marketing mix of product, price, place, and promotion. The elements of the marketing mix are … Read more
