Submitted by: Submitted by tajnam
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Category: Other Topics
Date Submitted: 09/30/2013 06:32 AM
QUESTION 1
Teece, Pisano and Shaun (1997:10) believe that a strategy can be defined as a firms positioning to gain a competitive advantage in the marketplace. Building upon this high level definition, Vincent (2008:175) states that a marketing strategy allows a firm to develop a plan that enabled them to offer the right product to the right market with the intent of gaining a competitive advantage.
Marketing strategy covers all elements of the procedure that an organisation uses to satisfy the market, such as research, promotion and advertising.
Figure 1: The components of a marketing strategy
Source: (The Times 100, 2013:4)
The Gillette Company is a globally focused consumer products marketer that seeks competitive advantage in quality, value-added personal care and personal use products. In the past century, Gillette has been amongst the leaders in shaving innovations, delivering cutting edge science and technology to consumers. According to (www.answers.com) when King C. Gillette introduced his revolutionary safety razor, he founded a company on the time-honored credo, “There is a better way to shave and we will find it.”
Gillette devised and marketed the first safety razor in 1901. In a short space of time, Gillette converted his idea into a highly successful, marketable product. Speed to market has been a characteristic of the famous company, which still bears his name today. The Gillette Company continues to recognise the importance of 'being ahead of the field' in a competitive market in which consumer requirements are becoming increasingly diverse and demanding. Rather like batteries, razors and shavers are a means to an end - it's what they produce that really matters. Looks and style are increasingly important, but to the person looking for the perfect shave it is the razor's performance that matters most of all.
Market research
Market research suggests that most people who shave find it a chore - many resent the time they devote to it. So...