Asset-led marketing has both advantages and disadvantages. Although more focus on internal strengths to satisfy consumer needs and wants is relatively inexpensive, core competencies are not always relevant to market demands. Dynamic market environment. Tastes and consumers can change from time to time. Likewise, competition is also dynamic. Such factors can make the competitive advantage built through past core competencies no longer sustainable.
Before discussing the advantages and disadvantages of asset-led marketing, let’s briefly review what it is?
What is asset-led marketing
Asset-led marketing is a marketing approach in which your company focuses on internal strengths to meet customer needs. Internal strength comes from the resources and capabilities your company has. Both form core competencies if they are valuable for creating value, rare, expensive to imitate and non-substitutable.
Then, your company utilizes these core competencies to produce products. For example, your company leverages a strong reputation and brand image to develop and market new products around existing products.
This approach does not completely ignore consumer tastes or preferences. But, your company is more based on internal strength to produce innovative products. Your company bases its strategy on existing strengths and assets instead of spending big bucks to properly identify consumer …