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Summary Marketing Strategy: articles & cases | MSc Marketing Management | Erasmus University - RSM 5,99 €
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Zusammenfassung

Summary Marketing Strategy: articles & cases | MSc Marketing Management | Erasmus University - RSM
 1 mal verkauft
  • Kurs
  • Marketing Strategy (BM04MM)
  • Hochschule
  • Erasmus Universiteit Rotterdam (EUR)

Summary of all the articles and cases for Marketing Strategy. This summary includes all obligatory readings and cases. I have updated the summary after the exam to make sure all important information is included. The course Marketing Strategy was taught by Steven Sweldens and Serena D'Hooge in ...

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Dokument Information

  • 4. januar 2024
  • 9. januar 2024
  • 7
  • 2023/2024
  • Zusammenfassung

Themen

  • marketing strategy
  • strategy
  • marketing
  • marketing management
  • cases
  • readings
  • articles
  • summary

Schule, Studium & Fach

  • Erasmus Universiteit Rotterdam (EUR)
  • Marketing Management
  • Marketing Strategy (BM04MM)
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Inhaltsvorschau

MARKETING STRATEGY
Articles & cases

SESSION 1 | CHANGES & SHARED VALUE
Reinventing Marketing to Manage the Environmental Imperative
 Marketeers need to reexamine theory and practices because of finite resources and high
environmental costs
 Marketing = activity, set of institutions and processes for creating, communicating, delivering, and
exchanging offerings that have value for consumers/clients/partners/society
 Environmental challenges: climate change, depletion of ozone layer, soil degradation, air and water
pollution, reduction of fresh water, depletion of resources.
 Assumptions of marketers in the past:
o Wants are natural and infinite, encouraging unlimited consumption is good
o The planet's resources are infinite
o Earth's capacity for waste and pollution is infinite
o Quality of life and happiness increase with consumption and want satisfaction
 Sustainable principles: wants shaped by marketing, earth's resources are finite, waste capacity is
limited, quality of life does not always increase with more consumption
 Unilever: double our business while reducing environmental impact and footprint
o When every company does this, sustainability is impossible
 Marketing practices that need to change - four P's
o Product: materials, packaging, use of energy and supplies
o Price: according to environmental friendliness and extra costs
o Place: location production and distribution facilities
o Promotion: from print to online, communicate commitment to sustainability
 Major pressure for changing marketing practices comes from consumers themselves
o Prefer to buy from companies that care
o People are willing to pay more for environmentally friendly products
o Less materialism
o Consumers are LOHAS: Lifestyles of health and sustainability
 B2B companies feel less pressure
 Demarketing: demand reduction - use 4 Ps in a reverse way
o No overfishing, energy waste, overeating, obesity and other issues
o Government and industries need to develop tools and skills to demand reduction
 Social marketing: marketing an idea, cause or behavior
o Influencing more positive awareness and behavior through campaigns
o Stop smoking, say no to drugs, exercise more and eat healthier food
 Research needed on several important issues

Creating shared value - How to reinvent capitalism and unleash a wave of innovation and growth
 The capitalist system is under siege
 CVS = creating shared value
 Business viewed as cause of social, environmental and economic problems
o Companies trapped in outdated approach to value creating
o Solution lies in the principle of shared value
 Shared value should be about sharing value created by firms: redistribution approach
o Buying fair trade cocoa raises income 10-20% vs. shared value investments 300%

,  Shared value = policies and practices that enhance competitiveness of a company while
simultaneously advancing the economic and social conditions of their community
o Focus on identifying and expanding connection between societal and economic progress
 Competitiveness of company and health of communities are closely intertwined
o Capitalist view: by making profit supporting employment, wages, purchases, etc.
 Companies can create shared value by:
o Reconceiving products and markets
o Redefining productivity in value chain
 Energy use, logistics, resource use, procurement, distribution, productivity, location
o Building supportive industry clusters at the company's locations
 Enabling local cluster development
 Success of every company is affected by supporting companies
 Shared value blurs line between for-profit and nonprofit organizations
 Creating shared value in practice
o Profits involving a social purpose represent a higher form of capitalism
o Shared value is more effective and sustainable than today's efforts
 Shared value gives opportunity to utilize skills, resources and capabilities to lead social progress

SESSION 2 | GROWTH SHARE & BRAND RENEWAL MATIRX
Growth-share matrix
 Growth-share matrix = chart created in collaborative effort by BCG employees
 Purpose: helps to analyze business units (product lines), allocate resources, and used as analytical
tool in brand marketing, product management, strategic management and portfolio analysis
 Scatter graph to rank business units based on relative market shares and growth rates
o Cash cows: high market share in slow-growing industry - 'milked' with little investment
o Dogs: low market share in mature slow-growing industry - break-even units
o Questions marks: low market share in high-growth market – often start point, have potential
o Stars: high market share in fast-growing industry - monopoly or dominant USP
 Require high funding to fight competitors and maintain growth rate
 Most units start as questions marks, turn into stars, become cash cows and end as dog
 Growth opportunities when stars assure future, cash cows supply funds, ? converted into stars
 Companies should have portfolio of products with different growth rates and market shares
 Matrix offers map of product's strengths and weaknesses - likely cash flows
 Relative market share: indicates likely cash generation - higher the share, the more cash
o Brand's share relative to its largest competitor
o Rule of 123: most stable position brand leader double share of 2nd and triple of 3rd brand
 Market growth rate: rapidly growing markets require investment
o Higher growth rate is indicative of demands on investment
o Indicator or market's strengths, future potential and attractiveness to future competitors
 Minority applicability problem: cashflow techniques only applicable to limited number of markets
 Milking cash cows’ problem: not milk units to such an extent that their position is jeopardized
 Balance between four quadrants is key

Achieving the Ideal Brand Portfolio - Brand renewal matrix
 Brands need structured and straightforward approach for streamlining brands in effective portfolio
 Portfolio planning: periodic, discrete event that looks across entire brand set
 Framework for brand portfolio renewal

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