The main focus of the research is on the exploration of the concepts in marketing for competitive advantage, customer satisfaction, customer loyalty, and brand management. The marketing principles of market research, the development of marketing strategy, the marketing planning and the segmentation of the target marketing have been incorporated in the study.
The literature review has revealed that marketing strategy is one of the most important components of the marketing plan and forms the core basis of the marketing function at any company. The concept of marketing and the development of the marketing strategy is explored in the literature review along with the marketing concepts of positioning, segmentation, branding, retail strategy, global retail strategy, customer satisfaction, competitive advantage, and customer loyalty.
The concept of positioning in marketing deals with positioning the company, its name, image and associations in such a position in the market which corresponds with the one the company wants to occupy and reflects the perceptions of the customers. In most cases companies face positioning issues when the position they want to occupy is not the position the customers in the market perceive the company to be at. This leads to a mismatch of the marketing goals of the company and its marketing strategies. This issue can be alleviated by assessing the market conditions and re-positioning using marketing campaigns, advertising, promotions, and below the line brand activation strategies.
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