Marketing advantage

Marketing advantage
See also
Areas of marketing Marketing department Social network marketing strategy Brand promise Direct marketing Interactive agency Marketing innovation Selling process Telemarketing

Marketing advantage is one form of competitive advantage with special attention paid to superiority of marketing activities, promotion, marketing mix, marketing strategies, marketing processes, market reach, perception of brand, and other strengths connected to this functional strategy of the corporation.

Marketing is essentially concerned with exchange and trade. Marketing depends on marketing research, advertising, distribution. Main purpose of marketing is the promotion of the company. Because of marketing - company and brand becomes more recognizable and goes to a larger number of potential customers. The most important advantages of marketing is improving sales and profit the business.

Promotion

Promotion - very important activities in the business. Consist of providing information to the client to increase the knowledge about products or services and create name brand more popular. Clever and effectively promotion depends on that clients respond to sales promotion because of the positive experience or because of good value for the customers.

The advantages of the promotion:

• acceleration of testing a new product introduced to the market (free product samples and price cuts)
• increase in product sales (discounts and rebates, price cuts, rewards)
• increasing customer loyalty (free substantive help, advice, training)
• financial support allows the organization to acquire a new sales point
• discounts (attractive additions) of prices allow to increase sales in the off-season,
• discounts and rebates for regular customers are a reward and satisfaction for them
• promotions allow you to regulate the content of magazine

Marketing mix

The marketing mix consist of all marketing decisions and actions taken to ensure the success of a product, service or brand on its market. Authors a lot of books think that marketing mix should contain of: product, price, branding, distribution channels, personal selling (face to face), advertising, promotion, packaging, displays, servicing, physical handing, fact finding and analysis. Each from this activities could in positive way affect to increase profit for the company.

Marketing mix (grouping these variables into four categories):

• product
• price
• place
• promotion

Summarized, every company should be provide as follows; in the right product, the right place, at the right price, a the right time.

Advantages of marketing mix:

• creating a product or service that potential client need
• selling product or services in a right place regularly visited by customers
• offered products or services at price that customer expectations
• providing products or services when these customers want it
• make it available when these customers want it

Advantages in the customer relationship

Marketing has a lot of advantages but one of them is making good relationship with partners. Marketing directs own attention to orientation:

• value, innovation and variety. Because of this the organizations which using marketing in company building strong and competitive position into relation to the competition in the market.

Branding

Branding is a process when company creating brand awareness and building the desired image in the eyes of consumers. This process effectively emphasizes values and distinguishes the brand. This is good way to provide information to the target group. Strong and famous brand build the trust and loyalty of customers. Branding allows to effectively show knowledge and experience a whole company.

Advantages of branding:

• greater range of the offer
• good reputation of the company
• higher margins
• building the desired image
• consolidation in the memory of customers

Market research

Market research - consist of all activities to gather information about target markets and customers. It helps to have an advantage over the competition. During the process of market research information is regularly collected and using in statistical methods - it should helps to making good decision.

Advantages of market research:

• improve the communication with current and potential client
• helps to identify opportunities in the market
• minimizes risks
• measures a company's reputation
• identifies problems
• helps plan ahead
• help establish trends
• helps establish market positioning

References

• Belohlavek, P. (2008). Unicist Marketing Mix, The Unicist Research Institute, Blue Eagle Group.
• Brown, L.O. (2008). Market Research and Analysis, Wildside Press LLC.
• Bruhn, M. (2003). Relationship Marketing: Management of Customer Relationships, Pearson Education.
• Hunt, S. D., & Lambe, C. J. (2000). Marketing's contribution to business strategy: market orientation, relationship marketing and resource‐advantage theory. International Journal of Management Reviews, 2(1), 17-43.
• Jayachandran, S. (2002). Marketing Management, Excel Books India.
• Srivastava, R. K., Fahey, L., & Christensen, H. K. (2001). The resource-based view and marketing: The role of market-based assets in gaining competitive advantage. Journal of management, 27(6), 777-802.
• Yeshin, T. (2006). Sales Promotion, Cengage Learning EMEA.

Footnotes

Author: Anna Klisiewicz