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Complete samenvatting van alle lectures van Strategic Marketing Management (SMM)
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Complete samenvatting van alle lectures van Strategic Marketing Management (SMM)
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Lecture 1Marketing strategy = a thoughtful plan by a company to produce desires outcomes in the
marketplace.
1. Distinctive
2. Coherent
3. Dynamic To create a sustainable competitive advantage
Strategic Marketing Decisions
Long-term holistic decisions concerning the future directions for the organizations
Features (Varadarajan 2010 JAMS):
Entail major resources commitments spread over long periods
Impact over longer time periods
Result in a distinguishable competitive advantage
Irreversible or difficult to reverse
Entails tradeoffs (e.g., if strategy A -> strategy B & C foregone...)
Made in the context of other strategic decisions (interdependencies)
Made at a higher level of the organization
Tactical Marketing Decisions = execution (short term): marketing mix
Lecture 2
,Population is growing rapidly 10 billion in 2050. Global challenges are complex &
interdependent. Covid made inequality worse (gender/money).
Sustainable development goals (SDG’s) will guide as a compass to develop new concepts.
The purpose of corporations is debated throughout history.
Legal foundation for shareholder
capitalism established in Dodge v
Ford (1919)
Lost some sparkle during the
Great Depression
Reinforced by Milton Friedman
Chicago School of Economics in
the 70’s (in a loosely argumented
paper)
It has been challenged (a.o. by
the WEF) ever since
Creating Shared Value (CSV); moving beyond philanthropy and CSR: Purposeful & Responsible
Why is CSV (creating shared value) increasingly a business imperative?
- legitimacy: creating value ”at the expense of” iso “in harmony with”
- Big societal issues are so complex that they require expertise and scalable business models
of private sector
What are the five key conditions for success in driving collective impact?
- Common agenda (shared vision/example: closed loop fund)
- Shared measurement system (example: Cocoa Action)
- Mutually reinforcing activities (example SAGCOT)
- Constant communication (quarterly meetings, annual forums)
- Dedicated backbone support (separate/neutral/independent. (World Cacao Foundation)
What are the key elements in “responsible leadership”?
- Respect, honesty, responsibility, accountability, morality, trust, driven by ethical principles
- Compassion towards rest of society; social responsibility (triple P&L, CSV)
- Multi stakeholder approach: ecosystems…
, Lecture 3
The purpose of corporations: From focus on shareholders To an inclusive approach to
various stakeholders (Customers, employees, suppliers, communities, and shareholders).
ESG-reports = a score about Environmental, Social and Governance.
impacts significantly investments (stock price). High ESG score = higher stock price
Corporate Social Responsibility (CSR): “Actions undertaken to display conformity to both
organizational and stakeholder norms” (Maignan&Ferell)
CSR has increased awareness and is more important than ever.
How do companies benefit from CSR?
Better access to resources: high ESG=high stock (more investments)
Attract/retain higher quality employees
Creating unforeseen business opportunities (CSV = profitable in the long run)
Consumers Responses: Consumers will pay extra for green products. it will pay off
CSR generally enhances market value mediated by customer satisfaction
Doing CSR right:
Communicate your CSR effectively. Communicate
shared concern for the issue, and stimulate
interaction between stakeholders.
- Try to get other people talk about your company
- Go viral, with a good story
- Minimize skepticism
Caused Related Marketing (CRM) = A strategy designed to promote the achievement of
marketing objectives (e.g., brand sales) via company support of social causes. A specific
type of CSR
Often a direct relationship between sales and support
- American Express: 1 cent per use of card to restore Stature of Liberty
- Starbucks: We’ll donate 5 cents for every festive drink sold
CRM: Choose a cause that fits your brand or product.
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