Knowledge-Based Marketing: The 21st Century Competitive Edge

In recent years even governments around the world are beginning to understand that knowledge is a critical contributor to stimulating the rapid growth of entire economies. It is argued that in a modern economy, knowledge is the most important resource within the companies based within any country. The advent of the Internet and automated e-business systems has provided an important catalyst for firms wishing to exploit the benefits of using knowledge to support their electronic trading activities. The vast majority of texts on knowledge management tend to focus on the information technology aspects of managing the concept. Although management of technology is critical, there is an equally important need for the provision of materials describing how knowledge can be utilized in the execution of functional management tasks. In view of this situation, the goal of this text is to show readers how to comprehend that knowledge can be utilized to underpin and enhance the marketing management function within organizations. The concept is presented by drawing upon various published sources and by the use of case materials to illustrate knowledge management in practice. Coverage includes; an introduction to the concept of knowledge management; the evolving pathway of marketing; how e-business is radically altering the execution of the marketing task; how firms can map external knowledge sources; the competencies that determine performance, alternative marketing positions; planning techniques; how knowledge informs product innovation; the effective execution of promotions; alternative options for exploiting knowledge to optimize pricing and distribution decisions; the role that knowledge management plays in service marketing strategies; and, the recognized problems associated with accelerating the use of knowledge within the marketing process.