Charles Blankson, Ph.D., Department of Marketing & Logistics

Defining great marketing and

establishing competitive advantages

Some comments for discussion

Charles Blankson, Ph.D., Department of Marketing & Logistics

So you are getting your degree, you have some job experience, determined to implement the marketing models and you understand

4 P’s & 7P’s, SWOT, PESTLE, STP etc. Great marketing is about a lot more than

clever promotion/advertising tactics. Certainly, an intelligent use of messages,

media, channels and models is necessary to ensure marketing effectiveness, but it is not sufficient (Smith, 2004).

Charles Blankson, Ph.D., Department of Marketing & Logistics

Identifying Strong Strategies Strong Marketing Strategies Target real segments. Make segment-specific value

propositions; each target segment is made a distinct and compelling offer.

Understand that SWOT & PESTLE are aligned with strategies. That strategy leverages with distinctive strengths and minimizes relative weaknesses.

Understand and aware of firm’s positioning.

Anticipate trends in your target audience and your industry.

Weak Marketing Strategies Target channels, product

categories or descriptor groups; customers in these categories do not have the same needs.

Weak positioning of offering and or organization.

Don’t really understand the organization’s SWOT and PESTLE environment.

Offerings are undifferentiated and offer the same thing to the same people in the same way as the competition.

Fail to understand the implications of market trends.

Charles Blankson, Ph.D., Department of Marketing & Logistics

Your action plan Assess the complexity and turbulence of your market.

Decide which quadrant you are in. Look also at the past and future.

Choose the hybrid marketing strategies that fits your market. Use that decision to guide who does what and how in your strategy-making.

Look for your positioning in the context of your organization’s aim and objectives. Carefully adjust things that might hinder you.

Implement your strategy, making sure you are aware of your position in the market. Use all appropriate approaches. Make use of your organization’s culture.

Following the implementation, build in assessment systems to ensure you are on track.

Charles Blankson, Ph.D., Department of Marketing & Logistics

Successful companies

“…successful companies understand the need to tailor the strategy to suit the market…” Brian Smith (2004).

Presentation based on Smith, B. (2004), “Made to measure,” The Marketer, Issue 3, June, pp.6-11 (a magazine from the Chartered Institute of Marketing, CIM, UK; see www.cim.co.uk).

Charles Blankson, Ph.D., Department of Marketing & Logistics

Marketing Strategies for Competitive Advantages

Strategy:“…to source the best quality products for our

stores and to provide the highest quality and value for money services with the view of becoming the best retailer in our sector in Texas…”

Approach: (a) Market orientation, (b) CRM, (c) marketing mixes of: product, price, promotion, place/distribution, people/participants, process, physical evidence.

Charles Blankson, Ph.D., Department of Marketing & Logistics

Types of Competitive Advantages

Superior product, service or brand Perceived advantage in the industry Global skills Low-cost operator (economies of scale and scope) Superior competencies in application of strategies &

tactics Superior assets/resources Attitude advantage (structure of organization and

decision making style) Legal advantages Superior relationships with consumers, suppliers, joint-

ventures, government agencies.

Charles Blankson, Ph.D., Department of Marketing & Logistics

Examples of routes to superior advantages/benefits

Products Services

Better end-results Speed

Superior design Quality

Longer lasting, durable Flexibility

More features Reliability

Ease of use After-sales service

Speed of use Personalized service

Reliability Responsiveness

Charles Blankson, Ph.D., Department of Marketing & Logistics

Strategies to employ in your

communications to position your offerings Top of the range Service Value for money Reliability Attractive Country of origin The Name of the offering (brand) Selectivity/Social class

Charles Blankson, Ph.D., Department of Marketing & Logistics

A Market/shopping scene in Accra, Ghana

Charles Blankson, Ph.D., Department of Marketing & Logistics

Small traders in Kumasi, Ghana