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Discussion 1

Alesha: Competitive advantage is “an advantage over competitors gained by offering consumer greater value” (Kotler & Armstrong, 2014, page 525). This advantage over competitors is a three step process: identify the competitors, assess the competitors’ objectives, strategies, strengths and weaknesses, and reaction patterns, and third, selecting which competitors to attach and/or avoid.  Assessing competitors involves determining their objectives, identifying their strategies, assessing their strengths and weaknesses, and estimating their reactions (Kotler & Armstrong, 2014, page 529). Assessing competitors gives a company insight it can use to make educated, informed business decisions regarding the company’s future, for example decisions about production, technology, sustainability, and marketing. Competitor assessment is essential to gaining competitive advantage and create customer value and get it in return. An example from our textbooks is GE in the major appliance industry (Kotler & Armstrong, 2014, page 529). GE belongs in the same strategic group as Whirlpool for major appliances, even though Viking and Sub-Zero also make appliances. The difference being GE makes medium price appliances and the latter make high end. GE needs to focus on Whirlpool’s objectives, strategies, strengths and weaknesses, and reactions in order to be successful in that particular market.  

Kotler, P., & Armstrong, G. (2014). Principles of Marketing (15th ed,). Boston: Pearson

Arielle: Competitive advantage is often seen as customer advantages which give the company an edge over its competition. It requires delievering more value and satisfaction to target customers than competitors do. To analyze competitors first companies need to identify their competitors then they assess competitor’s objectives, strategies, strengths and weaknesses and reaction patterns. After both steps, they select which competitors to attack or avoid. Assessing competitors is critical to marketing and overall success and survival because it answers the critical question: what can our competitors do? It allows companies to look first handedly at strengths and weaknesses of their competitor so they can keep up with the competition and out do them. For example if Whole Foods Market wants to stay in the market with their competitors like Trader Joe’s they need to fully understand reaction patterns. If Trader Joe’s has the same cliente and they lower prices below what Whole Foods can afford to sell at then Whole Foods needs to find value to brand loyalty in other areas to make the difference be less significant. 

Discussion 2

Andrew:  Sustainable marketing is actions that exhibit socially and environmentally responsibilities that accompany the currents needs of consumers and businesses while at the same time improving the likelihood of future generations to meet their needs. This type of marketing suggest and easy smooth flowing marketing system where consumers, companies, public policy makers and others join each other in working torward pursuing socially and environmentally responsible marketing. This is essential today because it will help make for a better tomorrow and future. The world is constantly changing in order to keep up with the change you should work toward improving current situations. An example of sustainable marketing would be the just say no to smoking advertisements. This is  something that will benefit individuals now and help the future generation meet needs because the smoke pollutes the air and can have an effect on the future environment.

Rosemery: Sustainable marketing is the adoption of best business practices, which promotes the products that preserves the environments. The company implements and optimizes their performance; marketing plans, marketing strategies and brand strategies to help them grow.

Sustainable marketing is essential as it calls for companies to be aware socially and environmentally when they minimize their contribution to greenhouse gases. Companies can print their catalogues on environmentally friendly inks and recycled paper and communicating online.

Discussion 3

Aujanae: “Consumerism is an organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers.” Consumerism impacts marketing, product development, and promotion by keeping the economy balanced and creating jobs.

Kotler, Philip, and Gary Armstrong. Principles of marketing. 15th ed. Upper Saddle River, N.J.: Pearson, 2014. Print

Jessica: Consumerism is an organized movement of citizens and government agencies designed to improve the rights and power of buyers in relations to sellers. This is a huge impact on marketing and production development and promotion. What this makes marketers have to do is follow legalities. If it is advertised, is it advertised correctly and are the fine print words appropriate to avoid a lawsuit. The consumers will demand the most information as possible about the products because marketers are encouraging consumers to buy that particular product over any other product without giving enough education of that product. An example being with a food product, if you advertise a consumable product that contains bacon fat in it, but does not say it anywhere on the packaging or in fine print, but someone purchases it and bacon is against their religion. This could cause some issues that could result in potential risk for the company.