session 1 strategic marketing – introduction & scope group3
TRANSCRIPT
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Session 1Session 1
Strategic Marketing – Introduction &
Scope
group3
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Market-Driven Strategy
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Market-Driven Strategy
Becoming Market Oriented
Distinctive Capabilities
Creating Value for Customers
Becoming Market Driven
Challenges of a New Era for Strategic Marketing
Market-driven Strategy
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Market-driven Strategy
Starting point for business strategy: market and customers
Must have: clear understanding of markets, customers, and competitors.
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Achieving Superior
Performance
DeterminingDistinctive
Capabilities
CustomerValue/
CapabilitiesMatch
Becoming Market-
Orientation
Characteristics of a Market-Driven Strategy
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Why Pursue a Market-Driven
Strategy? Strong supporting logic
Achievements of companies displaying market-driven characteristics are impressive
Example: Zara Boutique (Spain) – Cross Functional Feature
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Becoming Market Oriented
Customer is the focal point of the organization
Commitment to continuous creation of superior customer value
Superior skills in understanding and satisfying customers
Requires involvement and support of the entire workforce
Monitor rapidly changing customer needs and wants
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Determine the impact of changes on customer satisfaction
Increase the rate of product innovation
Pursue strategies to create competitive advantage
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Characteristics of Market Orientation
Customer FocusWhat are the customer’s value
requirements? Competitor Intelligence
Importance ofunderstanding the competition as well as thecustomer
Cross-Functional CoordinationRemove the walls betweenbusiness functions
Performance ConsequencesMarket orientation leads tosuperior organizational performances
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Information Acquisition
Cross-Functional Analysis of Information
Shared Diagnosis and Coordinated Action
Delivery of Superior Customer Value
Becoming a Market-Oriented Organization
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Distinctive Capabilities
“Capabilities are complex bundles of skills and accumulated knowledge, exercised through organizational processes, that enable firms to coordinate activities and make use of their assets.”
Example: Southwest Airline
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Capabilities
DesirableCapabilitiesDesirable
Capabilities
Applicable to Multiple
Competition Situations
Difficult toDuplicate
Superior to the
Competition
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Types of Capabilities
Outside-InProcesses
Inside-OutProcesses
SpanningProcesses
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Organization’s Process
Spanning Processes
Outside-In Processes
Inside-Out Processes
EXTERNAL EMPHASIS
INTERNAL EMPHASIS
Market sensing
Customer linking
Channel bonding
Technology monitoring
Customer order fulfillment
Pricing Purchasing Customer service
delivery New
product/service development
Strategy development
Financial management
Cost control Technology
development Integrated
logistics Manufacturing/
transformation processes
Human resources management
Environment health and safety
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Value Requirements
Distinctive Capabilities
Matching Customer Value and Distinctive
Capabilities
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Creating Value For Customers
Customer Value: Value for buyers consists of the
benefits less the costs resulting from the purchase of products.
Superior value: positive net benefits
Creating Value:“Customer value is the outcome of a process that begins with a business strategy anchored in a deep understanding of customer needs.”
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Creating Value for Customers
Benefits Costs
CustomerValue
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Value Composition
Monetary costs
Time
Psychic and
physic costs
Product
Services
Employees
Image
Benefits
Costs(sacrifices)
Value(gain/loss)
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Becoming Market Driven
Market Sensing Capabilities
Customer LinkingCapabilities
MARKET-DRIVEN
STRATEGIES
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Market Driven Initiatives
Market Sensing Capabilities
– Effective processes for learning about markets
– Sensing: Collected information
needs to be shared across functions and interpreted to determine proper actions.
Customer Linking Capabilities
– Create and maintain close customer relationships
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Aligning Structure and Processes– Potential change of
organizational designImprove existing processesProcess redesign
– Cross-functional coordination and involvement
– Primary targets for reengineering:
Sales and marketing, customer relations, order fulfillment, and distribution
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Challenges Of A New Era For Strategic
Marketing Strategic marketing faces unprecedented challenges and opportunities:
Turbulent markets
Intense competition
Disruptive innovations
Escalating customer demands Escalating Globalization
Technology Diversity & Uncertainty (Example: eBay)
Ethical Behavior and Social Responsiveness of Organizations
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Corporate, Business and
Marketing Strategy
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Corporate, Business And Marketing
Strategy
Corporate strategy Business and marketing
strategy Marketing strategy process Internet strategy Preparing the marketing plan
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Corporate, Business And Marketing
Strategy
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Corporate Strategy
Deciding the Scopeand Purpose ofthe Business
Business Objectives
Actions and Resources for Achieving Objectives
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Characteristics Of Successful Strategy
Unique competitive position for the company.
Activities tailored to strategy. Clear trade-offs and choices
vis-à-vis competitors. Competitive advantage arises
from fit across activities. Sustainability comes from
the activity system not the parts.
Operational effectiveness a given.
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Organizational Change
Vertical Disaggregation
Internal Redesign
New Organizational Forms
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Corporate StrategyComponents
Management’s long-term vision for the corporation
Objectives Assets, skills, and
capabilities Businesses in which the
corporation competes Structure, systems, and
processes Creation of value
(competitive edge)
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Business And Marketing Strategy
Developing the strategic plan for each business Business and marketing strategy relationships Strategic marketing:
– Developing a vision about the markets of interest to the organization, select market target strategies, setting objectives, and developing, implementing and managing the marketing program positioning strategies designed to meet the value requirements of customers in each market target
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Marketing Strategy Process
SituationAnalysis
MarketingProgram
Development
Implementingand Managing
MarketingStrategy
DesigningMarketingStrategy
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Strategic situation analysis Market vision, structure and
analysis Segmenting markets Continuous learning about
markets
Example: Google Case
Marketing Strategy Process
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Situation Analysis
MarketVision, Structure,
and Analysis
ContinuousLearning
AboutMarkets
SegmentingMarkets
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Designing Market-Driven Strategies
RelationshipStrategies
Market Targetingand Strategic
Positioning
Planningfor NewProducts
Market-driven Strategies
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Positioning Strategy Development
Productstrategy
Distributionstrategy
Promotionstrategy
Pricestrategy
Markettarget
Positioning strategy
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Implementing andManaging Market-Driven
Strategy
Designing Effective Market-Driven Organizations
Strategy Implementation and Control
Implementing And Managing Market-
driven Strategy
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Marketing Plan Outline
I. Strategic Situation Summary
I. Market-Targets and Objectives
I. Positioning Statements
I. Market Mix Strategy for Each Market Target
I. Forecasting & Budgeting
I. Contingency Planning
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International Planning Process