About This Chapter
MEGA Marketing: Competitive Advantage - Chapter Summary
The content that is in this chapter goes over competitive advantages and methods for acquiring them. You will also cover the following topics:
- Importance of strategic marketing
- SWOT Analysis
- Types of competitive advantages
- Target marketing strategies
- Identifying strategic alternatives to marketing
Discovering new information or reviewing old material about competitive advantages is made easy when you look through the lessons in this chapter. Each lesson is followed by a short multiple-choice quiz, and you can ask questions of the instructors if you need more help.
MEGA Marketing: Competitive Advantage Chapter Objectives
Taking the MEGA Marketing test is one of Missouri's requirements for certification to teach the subject. You can expect to find the information covered in this chapter under the global marketing and research portion of the exam, which makes up 28% of the test. You will be asked to answer multiple-choice questions on the exam. Different marketing principles will be covered in the lessons in this chapter, giving you an accurate idea of what you are going to be tested on.
1. Competitive Advantage: The Importance of Strategic Marketing
Companies have many options when it comes to gaining market share and increasing profits. Learn about strategic marketing and the tools companies use to their advantage.
2. What is SWOT: Situation Analysis in Marketing
A successful business needs to know its capabilities as well as the marketplace in which it competes. In this video, learn how to define a mission statement and conduct a situational analysis.
3. Types of Competitive Advantage: Cost, Product, Niche & Sustainable Advantages
Companies need that special something to draw in new customers and keep them coming back. Learn about competitive advantage and the different ways a company can have it.
4. How to Identify Strategic Alternatives in Marketing
Marketing managers must decide the type of strategic alternative that will be undertaken for their marketing plan. Managers can choose from four options to increase sales and profits.
5. Target Market Strategies for Successful Business
If you've ever felt persuaded to buy an item by an ad, you've likely been defined as part of a target market. Though you may not know it, advertisements are created specifically for people similar to you. In this lesson, you'll learn how marketing firms identify a target market, create basic target market strategies and use a marketing mix for a product or service.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the MEGA Marketing: Practice & Study Guide course
- MEGA Marketing: Basic Concepts
- MEGA Marketing: Communication Methods & Functions
- MEGA Marketing: Environments & Strategies
- MEGA Marketing: Ethics & Public Relations
- MEGA Marketing: The Business Cycle
- MEGA Marketing: Market System Economics & Politics
- MEGA Marketing: Economic Growth & Indicators
- MEGA Marketing: Business Ownership
- MEGA Marketing: Business Plans
- MEGA Marketing: Functions of Management
- MEGA Marketing: Principles of Financial Management
- MEGA Marketing: Business Calculation Basics
- MEGA Marketing: Interpreting Data & Graphs
- MEGA Marketing: Graphing & Evaluating Equations & Functions
- MEGA Marketing: Quadratic Equations & Functions
- MEGA Marketing: Probability & Statistics for Business
- MEGA Marketing: Depreciation & Salvage Values
- MEGA Marketing: Interest & Purchases
- MEGA Marketing: Financial Analysis Calculations
- MEGA Marketing: Product Development & Retailing
- MEGA Marketing: Services Marketing
- MEGA Marketing: The Marketing Mix & Promotional Strategies
- MEGA Marketing: Consumer Protection Laws
- MEGA Marketing: Selling & Pricing Strategy
- MEGA Marketing: Channel Management
- MEGA Marketing: Segmentation & Product Marketing
- MEGA Marketing: Consumer Decision Making
- MEGA Marketing: International Marketplace
- MEGA Marketing: Research & Data Applications
- MEGA Marketing: Computer Literacy
- MEGA Marketing: Careers in Marketing
- MEGA Marketing Flashcards