Did you know that competitive marketing helps enhance customer satisfaction? It helps you eliminate guess work. Guess estimates can burn through your marketing budget. And we now see an extremely competitive landscape. You need to play offense for stealing market share and retaining customers.
Why is marketing understanding important in strategy formulation?
Value in a business is what the customer is willing to pay for. Business strategy is about creating and communicating value to the customer. What is value for the customer? How do you create and communicate value? This is what makes marketing understanding important in strategy formulation.
How can customer experience create a differentiation for a brand?
People tend to remember the extreme experiences – the most pleasant and the most unpleasant. What people remember is what they talk about. Brands want customers to talk good about them. Word of mouth is the best marketing you can ask for. This is where customer experience creates a differentiation for a brand.