Marketing Management Essay Example | Topics and Well Written Essays - 2500 words - 2

Marketing Management - Essay Example Now we shift to the methodology and rationale behind building competitive advantage. This is something that is built over time and requires synchronization between the tactics, activities and the overall strategy of the company which is producing the product(s). Competitive advantage is developed when there is a differential undertaking on the part of the customer. This could be in the form of lower prices than the competitors, better quality, efficient sales services and support and a number of other features. Thus customer satisfaction is something which cannot be measured by a standard set of parameters. It has to be experienced always with a different set of offerings that are made available. These offerings could be in the form of better quality products, higher and more efficient services or a bundle of both high-class product and state of the art service, in which case it would not be categorized under either of them rather as a mixture of both. It is pretty true that the market dynamics suggest that the competitive advantage can only be achieved when the customer is given what he or she wants but then again is there any limit to his or her wants? The answer would be NO and quite rightly so. The customer expects value for money and thus the best possible product at the most effective rate, thus it would be correct to understand his point of view and then go about changing the product offerings, prices and the value thus provided. Marketing concept has taken its basis from the selling concept.

Soc Essay Example | Topics and Well Written Essays - 750 words

Soc - Essay Example I once attended a celebration of a Chinese new year which they call Kung Hei Fat Choi which is really a different celebration of New Year from my culture. For one, the celebration was replete with firecrackers and loud noises in their belief to scare away bad omens. They also had a dragon dance which they believe to bring good luck and rounded foods. This type of celebration is considered alien to me because we do not do dragon dance in celebrating New Year nor prepare round foods. To explain my seeming alienation about Chinese New Year, I would like to bring about George Herbert Mead’s social psychological theory of relation among the mind that not all factors in my environment can influence how I think. I belong to _____(your primary group) as my primary group and ____(your formal organization) as my formal organization. I am basically comfortable with my primary group albeit it has no formal structure where other people of the group, including myself are just enjoying each other’s company. The formal group on the other hand is more structured and has an objective why it exists. It reflects the normative organization because there are rules that are expected to follow where its members are expected to conform. In the primary group, my status varies since the structure is informal. Sometimes I am the leader and opinion maker sometimes I am the follower depending on the situation. In the formal organization however, my status is labeled as a member because I am not an officer of that club. At the end of the game, I belonged to the middle class because I had enough property to sustain me in the game. The game basically made me realized that if you make enough investment early in the game, you will end up rich because when other players step into your property, they have to pay rent and this accumulates as the game goes. Having enough resources in the game made me realized that it will enable the player to