Critical Analysis Of Service Dominant Logic

In summary, marketing is very important for a business to achieve success. Many businesses have a difficult time in this area. With the stiff competition, businesses struggle to stand out among others. Other companies resort in unethical and unfair schemes just to win the competition. But eventually find themselves in great loss and failure. As businesses all over the world enter into a gigantic marketplace, every business owner is faced with convoluted market competition. Nevertheless, any entrepreneur can be different and become successful in this matter. In every product sold and in every service provided, patience and hard work should take precedence to ensure quality. Products and services should be marketed honestly, planning should not be done with evil

The value chain theory analyzed the business processes to examine the most value creating activities

The competing value framework is based on an integrated model for management. The dynamic model leverages an interwoven approach of four distinct management techniques

In order for a firm to create competitive advantage, it needs to create a set of activites that can deliver value to the specific product and services it offers to its customers. To start talking about my life as a “value chain”, I may need to compare it to a specific product”. This is going to take precedence both in my personal life and professional life.

The value chain, made by Michael Porter, is really important to see how a company structure is created. The value chain is constituted by two parts: support activities (firm infrastructure, human resource management, technology development, procurement) and primary activities (inbound logistic, operations, outbound logistic, marketing and sales, service). (Johnson et al. 2011, p.97-99)

Table of Contents Situational Analysis Appendices External Analysis Appendix A: S.W.O.T. Analysis Appendix B: External Trend/Issue Analysis Appendix C: Environmental Trends/Issues Plot Appendix D: Stakeholder Map Appendix E: Service Area Profile Appendix F: Service Area Structural Analysis Appendix G: Service Area Competitor Analysis Appendix H: Critical Success Factor Analysis Appendix I: Mapping Competitors Appendix J: Synthesizing the Analysis Internal Analysis Appendix K: Financial Analysis Appendix L: Value Chain Strengths and Weaknesses Appendix M: Value Chain Competitive Advantages Relative to Strengths

Marketing is an important tool for any business. It is how a company makes their product known to the public. Without marketing, the consumers will either not know that the product even exists or will not know all the applications of the product; who makes it, what it is and what it is made from, when came on the market, where it can be purchased, how it can help the consumer and why the consumer should even purchase the product in the first place. According to Tom Ash, Marketing is the process whereby demands for products, services and ideas are anticipated, managed and satisfied (2011).

Effective value chain as a competitive advantage can contribute significantly to the prosperity of a firm in the competitive arena, but it can cause dire situations if not operated properly (Guy, 2011). However, there are conflicts among companies as to how stakeholders think they gain competitive advantage. Porter (1996) suggests: A company can outperform rivals only if it can establish a difference that it can preserve. It must deliver greater value to customers or create comparable value at lower cost or do both.

According to Michael Porter’s concept about value chain, “activities within the business companies add value to the product and service that the business organization or companies produces”. The idea of the value chain is based on the process view of organization, the idea of seeing a manufacturing firm as a system, made up of subsystems each with inputs transformation process and output. Inputs, transformation processes, and outputs involve the acquisition and consumption of resources – money, labour, materials, equipment, buildings, land, administration and

Ever since companies began manufacturing their products in large quantities, they have needed to convince consumers to buy the product. Before WWI, most consumers were happy to purchase a manufactured product because it was cheaper and convenient. However, as more companies began offering more and more goods, businesses needed to stand out from the crowd in order to make a sale. Over time, Marketing has changed and evolved to become an integrated function of many companies today.

Value creation means increase the value of products, service and even business to meet the customers’ needs and requirements so that they can get competitive advantages. (Business Fundas, 2012) As we analyzed, fast food industry’s threat of new entrants is low and the availability of substitutes is high. It’s a fare market which the buyers have strong powers.

One of the implications discussed by your textbook authors is that the Service Dominant Logic for Marketing means:

Marketing is an indispensable tool which every company applies in their day to day running and management. Marketing focuses on how to reach consumers and create awareness of the available products and services offered by a particular company, (Hulepete & Hathcote, 2005). While doing marketing, a general assumption is made that the message will reach targeted markets and will be perceived by the consumers as intended by the sender. Due to the coming of several companies to form a particular industry based on the similarity of the products or complimentary nature of the products and services offered, marketing has become quite popular across the globe, (Hulepete & Hathcote, 2005). Each company within the industry uses every available channel to make their products and services visible to the consumers.

P. Tailor of the www.learnmarketing.net see that: 'Marketing is not about providing products or services it is essentially about providing changing benefits to the changing needs and demands of the customers.

In today’s world marketing can be define in many ways. It has been changed in way of its market but definition rarely states the same. Marketing can also be defined as the process of creating value for customers in order to building