Competitive Advantage – RPZ Marketing
Defining Competitive Advantage
The best way for RPZ to market itself and distinguish itself from competitors is through social media. Social media marketing is both a capability and a relationship management tool that could help the organization in decision-making and gaining a competitive edge. In essence, social media marketing will play a crucial role in RPZ’s business plan by helping it bring customers and businesses together in innovative ways. Extant studies show that, with the popularity of the internet and social media, social marketing can give an organization a range of advantages, including closer connection with customers, responding to customers in real time, bolstering brand evaluation, and expanding geographic reach (Li et al., 2020). While traditional marketing is also a good approach to attracting new customers and developing a clientele, social marketing is more innovative thanks to its marketing intelligence source. As such, RPZ could implement social media marketing to achieve a superior competitive advantage while distinguishing itself from rivals.
The premise of the forbearing recommendation is that various sophisticated technologies are available to mine data and develop intelligence from social platforms. Typically, RPZ could adopt these technologies to better understand its operations and customers and solve its organizational challenges. For instance, the company could employ data mining techniques such as tracking patterns, classification, or prediction to develop customized solutions (Sharda et al., 2020). With these methods, RPZ could turn vast repositories of its Website usage data, customer engagement, and business transactions into actionable information. In turn, the company could identify and analyze textual information to gain insights into customer behaviour, trends, brand performance, and customer complaints. Eventually, the knowledge can be used to forecast, predict, and analyze future trends. Having such information would help RPZ improve its mission, operational efficiency, and ultimately sustainable competitive advantage. In this regard, social media marketing remains the most effective approach for RPZ to market itself and stand out in the market.
References
Li, F., Larimo, J., & Leonidou, L. (2020). Social media marketing strategy: Definition, conceptualization, taxonomy, validation, and future agenda. Journal of The Academy of Marketing Science, 49(1), 51-70. https://doi.org/10.1007/s11747-020-00733-3
Sharda, R., Delen, D., & Turban, E. (2020). Analytics, data science, & artificial intelligence systems for decision support. Pearson Education, Inc.
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Question 
Answer the question from this week’s RPZ scenario video, Defining Competitive Advant11 click: Brent Seyboltage
What is the best way for RPZ to talk about or market themselves and why?
Competitive Advantage – RPZ Marketing
Defining Competitive Advantage
Regina
Glad you are here. We need your advice on a strategic issue.
Ravin
Regina and I have been having a high-level discussion about competitive advantage.
Regina
Exactly. Now that we’ve merged into RPZ Marketing, one of our biggest challenges has been to clarify what distinguishes us from our competitors. When we market ourselves to new clients, we need to be able to define for ourselves what RPZ Marketing brings to the table that nobody else can bring.
Ravin
Regina and I have slightly different ideas about how to position ourselves in the marketplace.
Regina
Well, I would not say that our visions are entirely different. Ravin’s perspective is that we need to focus on our social media marketing strengths, even though we have acquired a more traditional marketing company.
Ravin
I do! The thing is, I have just been so proud of all the groundbreaking social media marketing work RPZ did before the merge. We were innovative and cutting-edge – a real 21st-century company that I have been excited to be a part of! Our company grew so quickly because that is what today’s clients want and I think that is what we need to continue to focus on.
Regina
And I do not disagree with that. We need to continue to differentiate ourselves in social media marketing. But we also have acquired Genaflek. We can also differentiate ourselves by offering clients the total package – traditional marketing plus social media marketing.
Ravin
I agree that we need to offer an integrated approach. But in terms of how we differentiate ourselves in the marketplace… well, I just think there are other companies that offer that kind of integrated approach. I do not think that’s what makes us special.
Regina
But other companies also offer social media marketing.
Ravin
But they do not do it as well as we do! We are the thought leaders and the innovators in the social marketing marketplace.
Regina
I do hear what you are saying, Ravin. But one thing we have to consider is that we’ve acquired a company with a traditional marketing focus. We now employ a large number of talented consultants who have experience with traditional marketing.
Ravin
That is true. I do not want to leave these new people in the dark. But I think the market needs to determine how we position ourselves, not our employee base.
Regina
I think we need to focus on the market, but I also think consider the strengths of our team. The former Genaflek employees bring with them more stable and predictable systems and approaches. I think that can be the ideal complement to our more renegade style of adopting at RPZ. We could really benefit from a more efficient system and procedures.
Ravin
That’s all well and good. But I still think we need to differentiate ourselves in the marketplace as social media innovators.
Regina
We’re not disagreeing about that. But we do need to come up with a way to talk about our company. What do you think?