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Competitive Dynamics
A marketer needs to know their competitive areas and focus greatly on increasing the effectiveness. In example, when trying to compete with large retail shopping center a small retail shop would find great difficulty if trying to compete on pricing alone. So, it would be to the smaller retail shop to find other areas of competition such as convenience, shorter wait time, or a more personalized shopping experience. To assist in increasing the demand for a product or services the marketer must either promote new uses for the existing product or increase the consumer market.
It is a good rule of thumb to always stay ahead of your competitors by being innovative and proactive in identifying available opportunities to introduced new products and services. It’s easy to cater to the needs of the consumer but it can also be detrimental to the company. If the company’s marketing strategies and product design is solely based on customer needs the company will limit themselves and thus operate with “binders”. The best practice is to operate with the marketing strategy of changing the rules of the game.
When reading this chapter, it also reminded me of my current employer. My employer is trying to turn around the company’s image as it is perceived by several target markets within a 50 mile radius. As a result, they are eagerly and swiftly trying to compete with competitors that already of positive feedback in the areas of cardiology, cancer, and other medical breakthroughs. It’s like the example given in the book about Walgreens and Wal-Mart. Walgreens is not able to go head to head with Wal-Mart on pricing; however, it could compete with Wal-Mart on convenience. In regarding my hospital, I don’t think it is wise for us to go head to head with St. Dominic’s who already dominant the industry in this area for cardiology nor should they

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