Course: SLF 130 Marketing Practices for the Small Business

Unit 2 Reading

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- Unit 2
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- Unit 2 Glossary (Selected)

The 4Ps of Marketing page_4

Competitive Advantage in the Internet Age
Competitive advantage occurs when an organization acquires or develops an attribute or combination of attributes that allows it to outperform its competitors. Information technology has become such a prominent part of the modern business world that it can also contribute to competitive advantage by outperforming competitors with regard to Internet presence.

The Internet has supplanted the traditional middleman, serving as an information conduit between the producer and final consumer. As a result, businesses can gain a competitive advantage by building a compelling and visually appealing website or social media business page. Web technologies have significantly reduced the time and effort required to build this marketing advantage, but have also forced companies to become more transparent with end consumers.
Stop and Review:

The 4 Ps of marketing are product, place, promotion and price.
The word product refers to either a tangible product or a service that provides value to a customer.
A product could also be an idea, a work of literary art, a formula, or a recipe.

Marketers utilize different distribution strategies. Intensive distribution means the producer's products are stocked in the majority of outlets where the masses of consumers can find them. Selective distribution means that the producer relies on a few intermediaries/ middlemen to carry their product. Exclusive distribution means that the producer selects only very few intermediaries, or there is only one/very few distribution sites.

The Internet Age makes it possible for marketers to more directly connect with their customers in a personalized and satisfying way. A competitive advantage can be built through a website and social media.