Strategic Marketing Principles: Value Creation and Competitive Advantage

marketing involves creating value for customers and building strong customer relationships, obtaining value from customers in return by increasingshare of market and share of customer , capturingvalue from customers to create profits and customer equity,creating satisfied loyal customers and capturing customer lifetime value by ensure ethical and social responsability.provide value 1understand customer value by identifiying the value and selecting the value.2provide the value by designing products and services 3.Communicate the value by branding,packaging,marketing communications.4deliver the value by access to customers ,channels of distriutions.5customer responseby the value performance,repeat purchase loyalty.the market is changing  industry boundaries blurring and envolving, competitive structure and players changing, value migration paths,firms are collaborating to influence industy standars. compete , what customers want ,who are they , what drives competition, how intense is it? Corporate strategyes: imitator,new market spaces,product differentiation,cost leadership.differentiation is concerned with how a firm competes within a market.segmentation is concerned with where a firm competes within a market.customerssome are partners, the results justify the effort, other are loyal but less expensive to serve, others seek to buy commodities and switch for price.cost leadership: 1benefit parity-make products with same benefits but a lower cost. 2 benefit proximity- offer a benefit that is not much less than competitors. 3 offer a product that is qualitatively different .

Three criteria of good strategy: 1 focus( avoid a high cost complex business model) 2divergence (value offered different from competitors) 3compelling tagline ( a clear strategic profile)sustainable marketingsocially and responsible actions that meet the immediate and future needs of customers and the company.influences on pricing 1company and marketing obj 2cost 3 channel of distribution 4buyer percepcions 5competition 6laws/regulations.price war solutions1improved service and quality, alerting consumers to the risk of poor equality,emphasise other negative consequences, seek help, modify only certain prices,use a fighting brand ,cut prices in certain channels.