Marketing involves creating and exchanging goods and services that are of value to customers, partners, and the community at large. With increased rivalry from other organizations, a company must always strive to achieve a competitive advantage (Plewa & Conduit, 2016). The resources that a firm has can be used as a point of differentiation and attract more customers. The objective of this paper is to discuss how the Miele Family enterprise performs its marketing strategy and achieves a competitive advantage.
Key Resources of Miele’s Success
Miele has tangible and intangible resources that have so far contributed to its achievement in the market. To start with, the company is recognized for its quality brand, which has made it have a long-standing reputation. The human resource in the company, including Mr. Zinkann, who has a marketing background, hence, is competent in business. The company also has many physical assets, including Miele showroom, which is a great place for marketing.
Marketing Assets
There are four kinds of marketing assets, including customer-based, internal support, supply chain, and alliance-based. With regard to customers, since its establishment in 1899, the company has internationalized and has customers in all segments. The superior products with German brand have afforded Miele a good reputation. Moreover, the company’s valuable addition is free seminars for clients where they can look at the latest models.
The supply chain of Miele is unique because while other companies are sourcing cheaper materials, they make their components in Germany which is at the center for faster distribution. The internal support of the partnership between Reinhard Zinkann and Markus Miele has been successful due to their competency and policy for respect and having a friendly distance. The company has also benefited from mentorship and experience.
Sustainable Competitive Advantage
Sustainability is essential; hence, businesses should focus on both profitability and relations with society. As evident in its focus on only one top-end power brand, the differentiation gives the customer a good reputation necessary for long-term success. The strong supply chain from manufacturing to the point of selling is also useful to enhance competitiveness. In addition, Miele innovates new product line to meet customers’ needs. The years of experience and internationalization strategy also open up new markets to increase the customer base.
Reference
Plewa, C., & Conduit, J. (2016). Making a difference through marketing: A quest for diverse perspectives. Springer.