Developing Your Marketing Strategy

This lecture covers the core elements of marketing strategy, focusing on the importance of understanding the target market segment and distinctive competence. It explains the framework for strategic decisions, segmentation, and positioning in the context of launching new ventures. The lecture also discusses the factors influencing distinctive competence, successful segmentation, and unique characteristics for effective positioning. Examples from various markets are provided to illustrate these concepts, emphasizing the significance of perceived benefits over features. The importance of customer-centric marketing is highlighted through the comparison of features versus benefits, with practical examples to demonstrate the impact on consumer decision-making.