Cespedes, Dougherty, and Skinner draw their research from extensively published business journals besides their experience. Cespedes is a senior lecturer in Business Administration at the Harvard Business School, Dougherty is the founder of a health care IT firm in Boston, and Skinner is the head of a sales firm in Atlanta. The authors have a wealth of experience from both their positions as professors in leading institutions and as business leaders of highly successful organizations.
For organizations, value chain analysis is critical because it ensures that products and services are placed in the hands of consumers as seamlessly as possible. Today, there is increased competition for high-quality products, lowering costs, and excellent customer services, as businesses must continually analyze the value that they create (Kotler and Keller, 2015). To be successful, firms must have the ability to redesign its value chain continually and to restructure its financial, technological, structural, and human assets in order to achieve maximum competitive advantage. Cost leadership is one way in which an organization can achieve a competitive advantage when consumers choose or prefer the product or services being offered by the organization on the basis that it is being offered at the lowest cost against the perceived value (Kotler and Keller, 2015). Const leadership constitutes the targeting of cost-conscious consumers and such that the value chain of the organization will focus on ways that diminish differentiation by using standardized parts in the production process, employing simplified economic processes that involve minimal proficiency and not seeking to offer any unique value (Kotler and Keller, 2015). To achieve value chain analysis, an organization controls its entire scope of business procedures to achieve maximum cost-to-value relationship. Another option is for the organization to offer differentiation that sets the product or service apart from competitors by offering an exclusive value proposition
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Many companies employ the use of supply chains to compete and achieve market share, and research shows that spending and activities in supply chains are increasing. The supply chain focusses on how raw materials are procured to the way the manufactured product reaches the end consumer (Kotler and Keller, 2015). This encompasses the movement of raw materials, how raw materials are converted into manufactured goods, transportation to warehouses, and finally, selling it to consumers. On the other hand, demand chain planning offers a more granular approach by focusing on how the needs of consumers influence how the supply chain works instead of focusing on plant-level production planning (Kotler and Keller, 2015). Demand planning functions from the customers perspective and offers a quick turnaround for improved planning and management, inventory planning, and supply chain efficiency and sourcing
b. How an organization can select the most effective and well-fit channel members to enhance the overall consumer experience. Assess the brand equity impact for inadequate channel member alignment.
The Credibility of the source
Cespedes, Dougherty, and Skinner draw their research from extensively published business journals besides their experience. Cespedes is a senior lecturer in Business Administration at the Harvard Business School, Dougherty is the founder of a health care IT firm in Boston, and Skinner is the head of a sales firm in Atlanta. The authors have a wealth of experience from both their positions as professors in leading institutions and as business leaders of highly successful organizations.
Today, the race to customer experience has intensified, and organizations are now acknowledging the significance of delivering an experience gives a firm a unique value proposition from its competitors. In today's competitive business environment, emphasizing on the management of customer experience is the most significant investment that an organization can make (Kotler and Keller, 2015). To build irresistible customer experience, firms need to be well-informed of the customer journey. Businesses must be knowledgeable of their customers both inside and out in order to compete n the 2020 business environment and beyond, which will enable them to develop proactive strategies that are aimed at meeting and surpassing consumer needs (Kotler and Keller, 2015). This can be achieved by developing a customer journey map that helps the organization envision the experience of interacting with the brand from a customer's perspective. The customer journey map is imperative because it allows the organizations to envisage the actual customer experiences versus how the organizations think they do. By better understanding their customers, organizations can better deliver on their expectations. An effective customer journey map helps an organization deliver better experiences that encourage or empower current and prospective customers to interact and purchase the company as they desire. Thus, this translates into faster sales cycles and loyal customers who are more satisfied and better-placed to make follow-up purchases.
Over the past decade, discussions on brand equity have been confined to consumer markets, but recently organizations have begun looking at the concept of the brand and brand equity in B-to-B markets (Kotler and Keller, 2015). There is growing concern that brand equity is useful and influential in examining relationships and the creation of value in business relationships. Brand equity is not only crucial in the relationship between the organization and the consumer but also between the organization and business-to-business markets as well as other stakeholders. Brand equity is not created through the relationship between the business and consumers or channel partners and the customer but through a multifaceted construct that is determined by the sum of these relationships. Today, financial performance is a crucial measure of success, and managers must defend how their activities create value and contribute to the bottom line (Kotler and Keller, 2015). When brand equity is not aligned with the goals of channel members, the brand loses its power in the marketplace, which is reflected by poor financial performance. Therefore, brand identity is a means to an end where companies build up their brand personality, where the brand's promise can be directly equated to the firm's promise.
c. Describe how market logistics planning activities have been impacted by technology. Assess the impact of online shopping on the future of market logistics planning.
The Credibility of the source
Cespedes, Dougherty, and Skinner draw their research from extensively published business journals besides their experience. Cespedes is a senior lecturer in Business Administration at the Harvard Business School, Dougherty is the founder of a health care IT firm in Boston, and Skinner is the head of a sales firm in Atlanta. The authors have a wealth of experience from both their positions as professors in leading institutions and as business leaders of highly successful organizations.
The logistics industry is experiencing significant challenges in today’s on-demand markets. There has been a rise in meeting the expectations of a more informed consumer and growing competition from substitute products that have left many forms looking for technology salutations (Kotler and Keller, 2015). The strategic use of technology of vital to an organization’s ability to keep up in a fast-paced and ever-changing industry. Advancements in technology have enhanced the integration of information from the time an order is placed, and influences the entire distribution process, today, information can be seamlessly incorporated across all business units. Bespoke applications are now able to convert sales into orders in real-time using artificial intelligence and transferring them right into the supply chain for fulfillment. Warehouse workflow automation and optimization by using drones and robots, in addition to warehouse management software, has enabled organizations to reduce lag time and improve the accuracy of order fulfillment (Kotler and Keller, 2015). Today, warehouses can be much smaller and with more robust warehouse management practices and movement that has is being facilitated by technology. Technology has also enhanced the distribution process as its faster and more precise than human interventions as it facilitates the fastest order fulfillment and by determining the best route at a reduced cost.
Over the last decade, the e-commerce industry has been growing at unprecedented rates with more consumers around the globe, opting for online purchases from electronics and pharmaceuticals to groceries and footwear (Kotler and Keller, 2015). Advancements in technology and e-commerce are transforming the way goods and services are warehoused, shipped, and delivered to consumers. The logistics supply for e-commerce must adopt the association of many-to-one, one-to-one, and one-to-many delivery mechanisms based on the availability of products and delivery destinations. This has led to the development of new delivery options and reducing the cost of operations, such as the use of drones on the same day or within a day delivery option. Another way that e-commerce is driving changes in the logistics industry is the demand for consumers when it pertains to returns (Kotler and Keller, 2015). Online consumers are demanding better options when it comes to returning purchased goods, and the logistics industry must conform to this demand. The e-commerce industry is also moving towards last-mile delivery and with the right technological investments will become strategic choices for business to outperform their competition.
2. After reading the companion article ( Social Pics Help Retailers Get Real
); provide a recommendation to a group of executives regarding how a firm can balance user generated content with organizationally curated content for the greatest benefit of the firm.
The Credibility of the source
Heine is an editor, writer, and content director at Mission North. Heine is knowledgeable in the field of technology, content marketing, and media strategy.
It has been alleged that people trust people, and this is the reason why over the last decade, user-generated content (UGC) has outperformed all other marketing platforms when it comes to influencing the purchase decisions of consumers (Heine, 2013) . In e-commerce, more than 90% of customers trust online recommendations from their peers, while UGC accounts for more than 20% in the purchase decisions of millennials more than any other media channel (Heine, 2013) . The best part is that people trust UGC as the content is not sponsored, authentic, and free from markers. When a brand shares content from UGC, they are not only engaging with the audience but also making them feel appreciated and seen. UGC is outpacing traditional marketing methods as today’s consumers are demanding a more engaging shopping experience, and they are looking to fellow consumers to answer questions and share insights before making purchases – this influences their shopping decisions and increases their confidence.
Combining UGC and organizational curated content sparks a brand desire in the eyes of consumers. This can be achieved by the firm being on the same social media platforms as their target audiences (Heine, 2013) . Companies should be on the three leading social media platforms, which are Facebook, Twitter, and Instagram; if not, this will be a missed opportunity. An organization can initiate a hashtag campaign on Instagram or Twitter to encourage consumers to interact and engage with the brand, which could result in being promoted to the top of the trending pages, which will, in turn, increase brand loyalty, attract new customers, and increase sales. An organization can also inspire its audience through messages, videos, and blogposts commonly referred to as content marketing as a way of creating and generating human response that could elevate brand visibility by creating more opportunities for the organization.
3. After reading the companion article (The Right Way to Fight for Shelf Domination); provide an executive summary for executives regarding the significance to the firm of this information; especially the significance of effective partnerships and innovation in a NON-RETAIL setting.
The Credibility of the source
Nirmalya is a distinguished professor at the Singapore Management University and has served in boards of multinational companies such as Tata Chemicals, Bata India, Ultratech, and BP Ergo. Nirmalya possesses a great wealth of information in the marketing field based on his experience as both a scholar and a business executive.
To gain a competitive advantage, firms should not only control the opponent but the space around them. In the retail industry, this can only be achieved through variety and innovation, and the retailers must ensure that their shelves are never empty (Kumar, 2007) . Shelf placement work on the principle that firms should possess information about their competitors as well as themselves; if not, the competition will have a competitive edge. The ability to understand the needs of consumers has increased the gap between leaders and everyone else who followed. In today's retail space, it is critical to understand how consumer expectations are evolving. Often than not, consumers place the quality and variety of products, convenience, and price when it comes to making purchase decisions (Kumar, 2007) . However, an increase in variety and dominating shelf space does not translate to increased sales. The history of businesses is filled up with organizations that once had robust competitive advantages that withered away.
Due to digital transformations, irrespective of the consumers' social and economic profiles, they belong to a specific unique segment. Technological advancement has enabled retailers to reach new consumer segments that are empowered by the increased availability of data. Through competitive intelligence, retailers can dominate the most dominant spaces if they are to be found and shopped (Kumar, 2007) . Through shelf-intelligence, retailers can acquire data in real-time on the real share of their competitors and the popular products per category. With this information, retailers can improve their product mix per shelf, inform negotiations while building partnerships and evaluate the categories and products that would bring the most value when advertised. Resilient retailers focus widening the performance gap between themselves and their competitors as they are not satisfied with the competitive advantage of today but that of tomorrow. A firm should emphasize on its labor force and invest in talent management initiatives (Kumar, 2007) . Organizations should not invest in people who can sell but those who understand the needs of the consumer segments that they are selling so that they can build long-lasting relationships and have their best interests at heart.
References
Heine, C. (2013). Retailers Are Increasingly Using Real People’s Social Pics. Retrieved 30 July 2020, from https://www.adweek.com/brand-marketing/retailers-are-increasingly-using-real-people-s-social-pics-152445/
Kotler, P., & Keller, K. (2015). A Framework for Marketing Management (6th ed.). Pearson.
Kumar, N. (2007). The Right Way to Fight for Shelf Domination. Retrieved 30 July 2020, from https://adage.com/article/cmo-strategy/fight-shelf-domination/114449
