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.