MARKETING STRATEGY

Jun 29th, 2015
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A marketing strategy identifies (1) a firm’s target market(s), (2) a related marketing mix—their four Ps—and (3) the bases upon which the firm plans to build a sustainable competitive advantage. A sustainable competitive advantage is an advantage over the competition that is not easily copied, and thus can be maintained over a long period of time.

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MARKETING STRATEGY:A marketing strategy identifies (1) a firms target market(s), (2) a related marketing mixtheir four Psand (3) the bases upon which the firm plans to build a sustainable competitive advantage. A sustainable competitive advantage is an advantage over the competition that is not easily copied, and thus can be maintained over a long period of time.Starbucks and Dunkin Donuts are appealing to different target markets, and they are implementing their marketing mixestheir four Psin very different ways. In essence, they have very different marketing strategies. Although both stores customers seek a good cup of coffee and a pastry, Starbucks is also attempting to reach the customer who wants a coffee-drinking experience that includes a nice warm, social atmosphere and personal baristas to make their esoteric drinks. And people are willing to pay relatively high prices for all this. Dunkin Donuts customers, on the other hand, arent particularly interested in the experience. They want a good tasting cup of coffee at a fair price, and they want to get in and out of the store quickly. Building a Sustainable Competitive Advantage:There are stores and restaurants that sell coffee and pastries in every neighbourhood in which there is a Starbucks or a Dunkin Donuts, and many of these have great coffee and pastries. If Starbucks or Dunkin Donuts lowered their prices, their competition in the area would match the reduction. If

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