Nowadays, the business environment has become very competitive as such companies have started to look beyond the traditional marketing strategies by embracing new marketing strategies to build a competitive edge over their rivals. In other words, there is a new marketing paradigm. Companies are not only competing on how to produce high-quality goods and services but are also contending on how best to build and improve the relationship with their clients. The primary goal of all this is to have a base of satisfied customers. Based on this brief introduction, conduct some research and write an essay on the new marketing paradigm and competition by considering the following points:
- New marketing paradigm.
- Explain the new marketing paradigm. (10 marks)
- Is the new marketing paradigm applicable in 2019 and beyond? Discuss. (20 scores)
(Total: 30 marks)
- H&M is a thriving global retailer that has entered the local New Zealand market in late 2016 and is thriving. Discuss how local retailers like Glassons or Ezibuy is reacting to such a move by considering the following:
- Analyse the market commonality between the local firms and H&M. (15 marks)
- Analyse the resource similarity between the local firms and H&M. (15 scores)
- Based on your analyses in (a) and (b) above explain and justify whether the local firms will initiate inter-firm rivalry. (10 marks)
(Total: 40 marks)
Support your discussions, explanations and analyses with a variety of authentic resources. Please provide at least ten resources in your report. These resources must be referenced appropriately using the APA approach.