1 distinctive competency a superior capability of a

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1. Distinctive competency a superior capability of a firm in comparison to its direct competitors a. Ex: global success: during WW2 Coca Cola built 64 overseas bottling plants 2. Differential benefit properties that set them (businesses) apart from competitors products by providing unique customer benefits a. A firm that delivers these desired benefits provides value to its customers Value Chain a series of activities involved in designing, producing, marketing, delivering, and supporting any product. Each link in the chain has the potential to either add or remove value from the product the customer eventually buys - Includes business functions such as human resource management and technology development - It also reminds us that every product starts with raw materials that are of relatively limited value to the end customer - Activities of value-chain members o Inbound logistics : bringing in materials to make a product o Operations : converting the RM into a final product o Outbound logistics : shipping out final product o Marketing : promoting and selling the final project o Service : meeting the customer’s needs by providing any additional support required - Example pg 25 of Apple’s value chain
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How do marketers measure value? Marketing scorecards feedback vehicles that report (often in quantified terms) ho the company of brand is actually doing Metrics measurements of “scorecards” marketers use to identify the effectiveness of different strategies or tactics [[Create and Deliver Value: this book is organized around the sequence of steps necessary to ensure that the appropriate value exchange occurs that both parties to the transaction are satisfied: - Part 1: make marketing value decisions - Part 2: understand consumers’ needs - Part 3: create the value proposition - Part 4: communicate value proposition - Part 5: Deliver the value proposition]] Amafessionals consumers who contribute ideas to online forums for the fun and challenge rather than to receive a paycheck, so their motivation is to gain psychic income rather than financial income Consumer-generated content everyday people functioning in marketing roles, such as participating in creating advertisements providing input to new product development, or serving as wholesalers or retailers Social networking online platforms that allow a user to represent him or herself via a profile on a web site and provide and receive links to other members of the network to share input about common interests Web 2.0 the new generation of the World Wide Web that incorporates social networking and user interactivity… characteristics: - Physical URLs (APPS) new apps that enable user-generated clouds of content to form around products; barcode scans allow the user to upload content or see what others have already uploaded - Categories entries according Folksonomy rather than “taxonomy” a classification system that relies on users rather than preestablished system to sort contents o Ex: listeners of Pandora app create their own “radio stations” that play
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