Question

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Assignment Questions:

1. There are four macro strategies to create and deliver value to customers and that can help a firm to develop a sustainable competitive advantage. Think of companies from the local market who you are very loyal to in many categories like (food, electronics, personal care etc.). Is it the product, location, operational, or customer excellence that you are loyal to that firm? Critically examine. (2.5 Marks)

2. You have read about the 4E Framework for Digital Marketing. You are required to choose a product category from your local market and critically examine how it uses the 4E framework for that product with the help of best social media elements. (2.5 Marks)

Answer:

1.

2.

Answer 1

Answer:+

1. The four macro strategies to create and deliver value to customers leverage the company to stay over the competition for a long time. These strategies include customer, product, operational, and location excellence. I am selecting Pepsi, Amazon, and Nyka which are readily available in local markets.

2. The 4E framework for digital marketing is also known as the 4E framework for social media, which includes exciting, educating, experience, and engagement of customers. The product I am considering for this case is Facebook.

Detailed Explanation:-

1. The four macro strategies to create and deliver value to customers leverage the company to stay over the competition for a long time. These strategies include customer, product, operational, and location excellence. Customer excellence emphasizes retaining customers who are loyal and serve them excellent customer support services. Product excellence focuses on how consumers perceive the product's value, positioning, and branding. Operational excellence draws focus towards effective operations such as human resources, supply chain management, and well-maintained relationship with suppliers. Location excellence includes a sound and accessible physical and web presence for customers to reach.

First company I am selecting is Pepsi, which is readily available in local markets. Pepsi has positioned itself as a "go-to" refreshing drink that reflects its strategic targeting and implementation of the marketing mix.

Pepsi is said to achieve product, customer, operational, and location excellence. Expanding the product line by launching new products leads to product excellence, such as diet Pepsi, Caleb's Kola, snacks, and signature series colas. Pepsi has achieved operational excellence because of its extensive market distribution, healthy relationship with suppliers, and globally reaching out stores. Pepsi is a fierce brand with a loyal customer base and has innovative capabilities that justify customer excellence, and easy availability in-store, local markets, and online at affordable prices proves location excellence.

Another loyal firm that I am selecting is Amazon. Amazon is a pure-click company with a wide range of products, timely deliveries, competitive prices, and home services. Amazon's operational excellence is proved by its smooth operations, supply chain, relationship with vendors, technology, coordination, and hiring of effective human resources. Amazon has also expanded its product line by launching Alexa, Solmio, stationary, kindle book edition, home services, and others, which justifies product excellence. Warehouse location, extensive market coverage, and timely deliveries prove that Amazon has location excellence. Amazon's customer excellence is justified by a proactive approach to customer support service. The dedicated assistance to solve customer's issues ensures their retention and repeated purchases.

2. The 4E framework for digital marketing is also known as the 4E framework for social media, which includes exciting, educating, experience, and engagement of customers. The marketer should create excitement among the customers by offering discounts, educating customers about the product or service, helping them directly or indirectly experience the product, and engaging the customer to select the product.

The third loyal firm considered is Nykaa. Nykaa is a disrupter in the market, delivering authentic and branded personal care or skincare products in India. The company is a brick and click company. Online platforms offer both Nykaa's and other products, whereas offline mode offers only Nykaa's products. Supply chain management, logistics, and relationship with suppliers promote the availability of the products. The dedicated customer support service and its "beauty assistance" service helps in solving customer's query. Nykaa supplies the deliveries timely due to its feasible warehouse location and offline store location. Hence, Nykaa also proves customer, product, operational, and location excellence.

The product I am considering for this case is Facebook. Facebook is a social networking site that is a platform for socializing and self-expressing through posts and hobbies. It is promoted when engaged customers make efforts to gain more friends and following. Facebook highlights the consumer's experiences to create excitement among target customers and encourages them to experience and engage. Facebook creates excitement through site ads, providing updates, influential marketing, using coverage media strategy, and others. Advertisement campaigns, blogs, and Facebook customer support helps in educating the audience. Micro-influencers share their experience through social media platforms, which triggers customers to engage.