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Do Firms with Unique Competencies Have Special Obligations? Marketing Strategy Analysis & Solution
Marketing & Sales Case Study Analysis and Solution
At Fern Fort University, we use Harvard Business Review (HBR) marketing principles and framework to analyze Do Firms with Unique Competencies Have Special Obligations? case study. Do Firms with Unique Competencies Have Special Obligations? is a Harvard Business Review case study written by Thomas W. Dunfeefor the students of Sales & Marketing. The case study also include other relevant topics and learning material on – Emerging markets, Ethics, Leadership, Social responsibility
Strategic Marketing Analysis of Do Firms with Unique Competencies Have Special Obligations? case study written by Thomas W. Dunfee will comprise following sections –
- Do Firms with Unique Competencies Have Special Obligations? Case Description
- Marketing Definition
- Market Potential Analysis of Do Firms with Unique Competencies Have Special Obligations?
- Market Share Potential Analysis
- Segmentation and Segment Attractiveness Analysis
- Competition and Competitiveness Analysis of Do Firms with Unique Competencies Have Special Obligations?
- Customer Value Analysis of Do Firms with Unique Competencies Have Special Obligations? case study
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Do Firms with Unique Competencies Have Special Obligations? Marketing Case Description
Sales & Marketing Case Study | Authors :: Thomas W. Dunfee
The emerging concept of corporate citizenship entails membership in a global community where citizens have duties to respond to the needs of their fellow citizens. The author puts forth a 'statement of a minimal moral obligation' (SMMO) for firms in industries such as pharmaceuticals, who have the ability to address rampant health risks in developing countries. He defines corporate obligation as consisting of three elements, and argues that the emerging concept of corporate and business citizenship supports recognition of the duty established in his SMMO. By supporting the global community, he argues, firms will be helping to maintain a supportive environment for business activity.
Emerging markets, Ethics, Leadership, Social responsibility
Marketing Definition
According to American Marketing Association – Marketing is a set of activities that a firm undertakes for creating, communicating, delivering, & exchanging offerings that have value for customers, clients, partners, and society at large.
Kotler explains - Marketing is a process by which organizations can create value for its potential and current customers and build strong customer relationships in order to capture value in return.
Market Potential Analysis of Do Firms with Unique Competencies Have Special Obligations?
Market potential analysis comprises evaluating the overall market size of the related product that the firm is planning to launch. This will involve defining – Why the target market segment needs the product and how it will provide a solution to full its consumers’ needs. Market potential of Do Firms with Unique Competencies Have Special Obligations? products various on factors such as –
- Maturity of the market. In mature markets the profitability is often stable but the market potential is less as most of the players have already taken market share based on the segment they are serving. New players have to go for market share strategies in marketing.
- Technological competence of the existing players and culture of innovation and development in the industry.
- Untapped market sizes and barriers to both enter the market and serving the customers. Often companies can easily see the unfulfilled needs in the markets but they are difficult to serve as there are costly barriers.
- Define the core need that your product is serving and list out all the direct and indirect competitors in the market place. This will help not only in positioning of the product but also in defining or creating a segment better.
- Uncovering the current and untapped market sizes and barriers to serving the larger market. Analyze the areas that you need to sort out while launching the products to wider market and what are the challenges the firm will face in market place.
- Estimate the current stage in product life cycle and its implications for marketing decisions for the product.
Market Share Potential Analysis
- Understanding the buyer behavior model for Do Firms with Unique Competencies Have Special Obligations?industry.
- Identifying the market share drivers relevant to Do Firms with Unique Competencies Have Special Obligations? market.
- Segment Attractiveness Analysis – Our analysis will work out which are the most attractive segments and which are the one the firm should go ahead and target. We point out in great detail which segments will be most lucrative for the company to enter.
- Understanding the different needs and relative value of your offering by segment.
- Developing segment priorities and positioning the product based on the product need fit developed by the firm.
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Competition & Competitive Position Analysis
- Uncovering customer-based competitive positions for key rivals and firm’s offering. This will not only help in assessing the strengths and weaknesses of the competitors but also help in defining and positioning of the product.
- Developing a positioning and launching strategy. It will require not only distribution channel analysis but also promotion mix for the product.
- Strategic Marketing Planning — the process of developing and maintaining a strategic fit between the organization’s objectives and capabilities and the ever evolving marketing opportunities for its products.
Do Firms with Unique Competencies Have Special Obligations? - Customer Value Analysis
Capturing customer value is essential to marketing efforts as it results in higher return in the form of both current & future sales, greater market share, and higher profits. By creating superior customer value, the organization can create highly satisfied customers who stay loyal and buy more. This, in turn, means greater long-run returns for the firm.
- The crucial role of customer perceived value in acquiring and retaining profitable customers. Product differentiation is often based on building on a value niche that a firm believes that is very important to the customer. This niche contributes to perceived value. If the perceived value is high then customer stay loyal to the product if not then she can switch to the competitor’s product.
- Graphically displaying value differences for deeper understanding and better internal communication. This helps is building a narrative that a customer can identify with. The better the insight more are the chances of connecting with the potential customers.
- Identifying and selecting actionable value creation options. This can help in increasing the customer lifetime value. Customer lifetime value is the value of the entire stream of purchases that the customer would make over a lifetime of patronage.
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