Strategic Marketing in Online Retail

<p>Shifting focus from mass marketing to specialized long-tail strategies (B)</p> Signup and view all the answers

<p>Utilization of content marketing to enhance product discovery (B)</p> Signup and view all the answers

<p>Their marketing mix and target markets (B)</p> Signup and view all the answers

<p>Competitors' historical advertising spend (A)</p> Signup and view all the answers

<p>To replicate complex business conditions (B)</p> Signup and view all the answers

<p>External factors affecting future outcomes (C)</p> Signup and view all the answers

<p>Cross-functional collaboration for quick actions (B)</p> Signup and view all the answers

<p>Employee job satisfaction (C)</p> Signup and view all the answers

<p>Predicting responses to strategic market changes (C)</p> Signup and view all the answers

<p>Small, full-time multidisciplinary teams (A)</p> Signup and view all the answers

<p>To attract ideas and innovations from external sources (D)</p> Signup and view all the answers

<p>To increase perceived credibility and attract customers (A)</p> Signup and view all the answers

<p>Using disruptive innovation to create new markets (B)</p> Signup and view all the answers

<p>Adapting a company's approach to business to optimize success (D)</p> Signup and view all the answers

<p>To attract external ideas and contributions (D)</p> Signup and view all the answers

<p>To continuously reinvent and create entirely new markets (A)</p> Signup and view all the answers

<p>Complete reliance on internal marketing alone (B)</p> Signup and view all the answers

<p>Developing new frameworks to complement existing strategies (C)</p> Signup and view all the answers

<p>Competitive advantage to stand out and innovate (B)</p> Signup and view all the answers

<p>Customer intelligence driven by data/AI &amp; human insights (B)</p> Signup and view all the answers

<p>It includes sustainable and ethical practices. (B)</p> Signup and view all the answers

<p>Personalization through data analytics (B)</p> Signup and view all the answers

<p>Implementing AI and Gen AI in marketing (D)</p> Signup and view all the answers

<p>It emphasizes understanding customer behavior and needs. (C)</p> Signup and view all the answers

<p>In response to frequent economic shifts and crises (A)</p> Signup and view all the answers

<p>Step-by-step explanation of marketing foundations (B)</p> Signup and view all the answers

<p>It drives customer loyalty and market differentiation. (B)</p> Signup and view all the answers

<p>Strategies for enhancing online customer engagement (C)</p> Signup and view all the answers

<p>The ability to maintain an advantage over competitors over time. (D)</p> Signup and view all the answers

<p>Inability to adapt (C)</p> Signup and view all the answers

<p>By challenging dominant players in niche markets. (B)</p> Signup and view all the answers

<p>It increases the likelihood of customer retention. (A)</p> Signup and view all the answers

<p>Gain share through distinct product features. (C)</p> Signup and view all the answers

<p>Sustaining market position despite rivalry. (C)</p> Signup and view all the answers

<p>Focusing on niche markets without innovation. (D)</p> Signup and view all the answers

<p>Through reliance on brand recognition and customer trust. (D)</p> Signup and view all the answers

<p>Cost Leadership (C)</p> Signup and view all the answers

<p>Uniqueness in the eyes of the customer (B)</p> Signup and view all the answers

<p>Differentiation Focus (C)</p> Signup and view all the answers

<p>Operational Excellence, Product Leadership, Customer Intimacy (D)</p> Signup and view all the answers

<p>Best cost (B)</p> Signup and view all the answers

<p>Retail dynamics (D)</p> Signup and view all the answers

<p>Understanding and responding to specific customer needs (A)</p> Signup and view all the answers

<p>Rigidity in responding to market changes (D)</p> Signup and view all the answers

<p>Flexibility in market approaches (B)</p> Signup and view all the answers

<p>When they compress costs and increase competition (A)</p> Signup and view all the answers

<p>Market Saturation (C)</p> Signup and view all the answers

<p>Offering the best products (C)</p> Signup and view all the answers

<p>Combining efficiency with effectiveness (C)</p> Signup and view all the answers

The special factors that make a company better than its competitors in a specific market.

A competitive advantage that allows a company to maintain its edge over competitors for an extended period of time.

A type of market where there are very few players, giving the company a lot of power to influence decisions.

A type of market where there are many companies competing, making it harder to stand out.

A strategy in which a company focuses on providing products or services that are different from competitors and meet the needs of a specific group of customers.

A strategy where a company focuses on being the lowest cost provider in a specific market, offering the most competitive prices.

A strategy where a company focuses on being the best at something in the market, such as having the highest quality, the best service, or the most innovative products.

A strategy in which a company expands its existing business into new markets or product lines.

Understanding your competitor's strengths and weaknesses by analyzing their resources, capabilities, and past performance.

Studying competitors' marketing strategies, including target markets, positioning, marketing mix, and value propositions.

Predicting how competitors might react to your strategic moves or market changes, such as new products or pricing adjustments.

Choosing which competitors to directly compete with and which to avoid, based on factors like position and potential retaliation.

A dedicated team that monitors and analyzes competitor activity, market trends, and other relevant information.

A method of analyzing potential future scenarios and their implications for your business.

A structured simulation that replicates real-world business conditions, allowing participants to test strategies and learn from the experience.

A dedicated team that works full-time to quickly adapt strategies in response to market changes.

Refers to a strategy where businesses focus on specific, smaller customer segments with unique needs and preferences instead of targeting a large, general audience.

Shifting from broad marketing efforts to targeted campaigns designed to attract a specific group of customers.

Optimizing content and website structure to rank higher in search engine results for specific keywords, especially those related to particular products or services.

Ability to tailor marketing campaigns to individual customer preferences and behaviors based on their specific interests and past interactions.

The strategic shift in marketing from a broad approach to a more focused and targeted approach, specifically addressing the needs of specialized customer groups within long tail markets.

The continuous process of understanding and adapting to the ever-changing market landscape and customer needs to achieve competitive advantage.

The process of identifying, analyzing, and understanding the competitive landscape to gain insights into competitors' strengths, weaknesses, and strategies.

The process of developing a unique and compelling brand identity that resonates with target customers, communicates company values, and differentiates it from competitors.

It's about attracting and retaining customers by understanding their needs, preferences, and behaviors and delivering exceptional experiences.

The analysis of market trends, customer behavior, and competitor strategies through data collection, analysis, and research to identify opportunities and challenges.

The ongoing process of tracking, analyzing, and responding to market trends and changes to stay ahead of competition.

The process of identifying, evaluating, and selecting various marketing channels to reach target customers effectively.

The process of creating and delivering a cohesive marketing message across all channels to ensure consistency and brand recognition.

The process of continually adjusting marketing strategies and tactics based on feedback, data, and market dynamics.

Using marketing to attract ideas and innovations from external sources like open contests.

Leveraging the trust and credibility of external contributors to attract new customers.

Creating entirely new markets using disruptive innovation.

Strategies that focus on creating uncontested market space.

A framework that defines the logic of how a company creates, delivers, and captures value.

Strategies that aim to stay ahead of the competition by constantly innovating.

A type of innovation that disrupts existing markets by creating a new value network.

A set of new approaches to strategic thinking that complements existing frameworks.

A competitive strategy focusing on achieving the lowest costs across an entire market, often achieved through scale, efficiency, and cost optimization.

A competitive strategy focused on offering distinct and unique products or services that appeal to the majority of customers in a market, often achieved through superior quality, features, or customer service.

A competitive strategy focused on achieving the lowest costs within a specific segment or niche of the market, often by catering to the needs of a particular customer group.

A competitive strategy focused on offering distinct and unique products or services within a specific segment or niche of the market, often by catering to specialized customer needs or preferences.

A competitive strategy that prioritizes continuously developing and offering the 'best' product in the market, often through relentless innovation and leading-edge technology.

A competitive strategy focused on achieving the most efficient operations, aiming to deliver products or services at the lowest possible cost.

A competitive strategy centered on building deep relationships with individual customers, understanding their needs, and delivering personalized and tailored solutions.

A competitive strategy that combines elements of both cost leadership and differentiation, aiming to deliver both low prices and high-quality products or services.

A competitive strategy focused on delivering a comprehensive and tailored solution to complex customer needs, often by integrating various products, services, and expertise.

A model of market competition characterized by rapid innovation, disruptive technology, and the emergence of new players who challenge established industries.

A competitive strategy that emphasizes creating a strong brand image and value proposition to attract a large share of the market, often through economies of scale and aggressive marketing.

A competitive strategy where numerous smaller players, often digital startups, compete for market share by targeting specific segments, customer needs, or price points.

A competitive strategy designed to streamline operations, reduce costs, and improve efficiency across the entire value chain, often by leveraging technology and automation.

A competitive strategy that involves adapting and evolving in response to a dynamic environment, leveraging new technologies, and incorporating a range of competitive approaches to maintain a competitive advantage.