okay so now we are going to talk about developing marketing strategies in a marketing plan in the first video from chapter 2 we're actually going to look at ways that companies can find a marketing strategy that's sustainable but not way not a way that a competitor can duplicate it so rather a sustained competitive Advantage okay and what does that mean it means that a company can find one that they can Target their their particular target market and um using their related marketing mix but one that their competition cannot easily duplicate and there we have found that there are four different ways that they can do that four different ways for macro strategies in which her company can develop customer value that is very difficult for competition to duplicate very difficult for a competitor to duplicate okay and so we'll talk about each of these four I'll start with the top one customer excellence and what does that mean customer Excellence is when we're able to deliver such a heightened level of service that customers remain loyal even if you're not giving them the be lowest price okay the customer remain loyal customer remains loyal um and it absolutely has to do with providing excellent customer service in this day and age that's very difficult to do and so we've lowered our level of customer EXP expectations you look at what what's happening with Airlines now and and the amount of um poor customer service we get we have lowered our level our customer expectation levels and so getting good customer service very difficult to do there there are Rewards customer service level awards given to companies that provide excellent customer service um there is one particular company that time and time again has been given an award for excellent customer service and you'd be shocked to know that it's actually a insurance company but it's interesting because this particular insurance company uh their target market is not everyone they've chosen a very specific target market a very specific Niche and that's military and their family that's us USAA now um I'm prior military uh and I use USAA for my auto insurance and banking needs um so that means of course that my sons do as well um USAA they chose specifically to serve only military prior military in their family members it's the only way you can use USAA okay but in doing so that means that they absolutely know their target market and their needs very specific needs you might understand but they have excellent customer service you think about when you call your insurance company after you've been in an accident and you pick up your insur your phone your phone you call your insurance company and they say okay what happened you have to tell them and then they say okay let me transfer you then you have to tell the next person and what happened you have to tell the next person and by that point you've relived that entire tragedy in your mind several times over that is not what happens with USA you tell your story one time even if you're transferred you tell your story one time um I've now been a USAA member for more than 30 years um since I joined the military and they are not always the lowest not in home insurance or auto insurance or whatever it may be but the customer service is Bar None and so they've been awarded for that and that then makes them a perfect example of a company that it's very hard to duplicate then that particular um customer service so that's their value they deliver to customers customer service customer Excellence so USAA perfect example of customer Excellence perfect example of customer excellence and you will see this this um on your exam you will see this on your exam so USAA perfect example of customer Excellence okay now operational excellence operational excellence these are companies that this is what they do they arrange their company around around being able to perform being able to operate being able to um deliver uh so that that is what they are known for efficient operations excellent Supply Chain management strong relationship with suppliers okay one particularly example of this is Walmart okay now most times people think Walmart is the winner because of low price that is not the case you cannot win on low price and I'll say that time and time again in this class you cannot win on low price you can win on low cost buying things at a low cost or operating at a low cost very difficult for competition to be you at a low cost okay um this is actually where Amazon and Walmart are going head-to-head on is low cost not low price now if you happen to operate at a very low cost efficiencies then you're able to sell your product at a lower price because you bought it at a lower cost you're operating at a lower cost which then your competition can't beat you at okay this is what Walmart is is doing Walmart and now Amazon as well is operating at a lower cost operating efficiency this is what for years competition has not been able to beat Walmart at Amazon's in its um back in its rearview mirror though Amazon is in it's rearview mirror okay but operation efficiency operation efficiency this is what the Excellence is there operational excellence okay the next one is product product Excellence this is when um your company's brand is known people will pay for your brand name uh people will pay for your brand name over anyone else's brand name uh this is when your your company's brand um just the comp the consumer will just is willing to pay more um Nike is a perfect example of this you take the swoosh off a sneaker and what is it okay um so product Excellence uh definitely you have some perfect examples Apple you take that half bitten fruit off the product what is it um Coke um Amazon of course these are all products where the brand which is really the product in the consumer's mind um that is what protects that product okay so that's what product Excellence is um when you have something like Tiffany's uh just the color alone which is now branded right the Tiffany blue um that's a very very strong brand um you have the the Tiffany's um brand that's a product Excellence uh and so perfect example of product excellence once again very difficult to duplicate so that's a value that is provided to the customers last but not least location location location location uh truly location is everything being in the right place at the right time uh reals know this uh you think about this McDonald's that's across the way at the plaza when the plaza was being built uh they went through and bought and tore down everything in that Plaza all the buildings in that Plaza except John Petrus the owner of that McDonald's that McDonald's survived but what did he do he tore that old McDonald's down and went through and rebuilt in a matter of a month a new McDonald's with walk up of longer um drivethru because he knew that this massive Tower of cash poor college students was about to be built literally in the backyard talk about being in the right place at the right time that McDonald's is in the best location best location okay location location location um you think about if you ever go on a road trip with someone and you think about a McDonald's and you say oh let's get off at this exit uh there's a McDonald's here and you happen to miss the exit you say oh well no worries because there's going going to be one at the next exit who's lying there really will be one at the next exit okay there really will be one at the next exit if you look at this and you look down the um the um Eastern Seashore of Florida you can literally see I95 thanks to the the lights there of McDonald's um location location location um McDonald's knows okay um so there we have then um the four different ways four major ways you can develop uh value for customers of course the best thing to do is if you're able to have multiple advantages okay uh if you're able to um figure out more than one um Southwest Airlines for instance um you know for longest time they've been able to have um good service at a good value one of the most creative things they do is and they've did it for years is have as far as a good turnaround time on the ground they've had their their ground crew come here to Daytona and have them train with the pit Crews here um with the NASA pit Crews here in Daytona in order to increase their turnaround time once their planes are on the ground um so being able to find multiple ways of having sources of advantage over your competition is an excellent way to go okay remember developing customer value and these examples will be on your exam exam one I promise you customer Excellence perfect example USAA operational excellence perfect example Walmart product Excellence perfect example Tiffany's and then locational Excellence perfect example McDonald's alrighty so next up we're going to talk about our marketing plan so that's going to be next up