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Summary Strategic Marketing Management (328251)
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Tilburg University – MSc Marketing Management – Strategic Marketing Management - Fall 2022STRATEGIC MARKETING MANAGEMENT
LECTURE 1: INTRODUCTION
Marketing Strategy: A thoughtful plan by a company to produce desired outcomes in the marketplace vis-à-vis
customers, channel members and competitors”
Best Marketing Strategies are:
Distinctive: different from competitors (in a way that makes them not very easy to copy)
Coherent: lots of different pieces that all fits together (price and availability, so Rolex available
everywhere does not fit)
Dynamic: need to change over time/ update your image slightly (Apple introducing Apple Pay)
Strategic Marketing Decisions (STRATEGY):
Long-term holistic decisions concerning the future directions for the organization:
Major resources commitments spread over long periods
Impact over longer time periods
(large difference between Marketing Strategies and Marketing Tactics it’s a long period)
Result in distinguishable competitive advantage
Irreversible or difficult to reverse
Entails tradeoffs (if we want people to see our brand in this way, it is hard to have them also see it this
way: 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
Versus
Tactical Marketing Decisions (EXECUTION):
Short term decisions to execute the strategic directions within the firm.
Examples Strategic Marketing Decisions:
,Tilburg University – MSc Marketing Management – Strategic Marketing Management - Fall 2022
LECTURE 2: STRATEGIC SOCIAL RESPONSIBILITY (PART I)
ESG Ecological, Social and Governments.
Purpose of organizations has been under debate for quite some time.
Some schools of thoughts we have seen over history:
Increasingly we see so old line of thinking, stakeholder capitalism is going through revival (focus on all
stakeholders and not only your shareholders).
History: goals, targets and objectives of a corporation. Mission and vison. But now, what is the purpose?
Purpose of corporation: from focus on shareholders to an inclusive approach where we focus on customers,
employees, suppliers, communities and shareholders.
What is the reason that you are on this planet?
Creating shared value (CSV): Create value for the business and the society. Pursuing financial success in a way
that it also yields societal benefits.
Value Spectrum:
,Tilburg University – MSc Marketing Management – Strategic Marketing Management - Fall 2022
Why is CSV (creating shared value) increasingly 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 (unit around a common goal)
Shared measurement system
Mutually reinforcing activities (that are complementary, not conflicting)
Constant communication
Dedicated backbone support
Why is it so difficult and why do many businesses miss the opportunity?
Lack of trust
Competitive free riders
Justification of investment
o Expertise required in both societal and business issues
o Long term commitment needed
o Ring-fenced budgets required
Leadership aspects:
- Transformational leadership - Ethical leadership
- Participative leadership - Authentic leadership
- Shared leadership - Charismatics leadership
- Servant leadership - Spiritual leadership
What are the key elements in “responsible leadership”?:
Respect, honestly, responsibility, accountability, morality, trust, driven by ethical principles
Compassion towards rest of society: social responsibility
Multi stakeholder approach: ecosystems
Responsible leadership: Build and cultivate sustainable relationships with stakeholders to achieve mutually
shared objectives based upon a vision of business as a force of good for the many.
It implies responsibilities towards the various stakeholders.
Edelman trust share a barometer (trust index).
KEY TAKE AWAYS:
The pendulum in business is swinging back focus on shareholders to a more inclusive stakeholder
approach forcing business to rethink and redefine their purpose in support of the Global Goals
(SDG’s)
This forces business to become specific to value that is created beyond economic value (social- and
ecological value)
Multidimensional value creation requires innovation in business-, operating models and the way
performance is measured and managed. It is equally important to clarify the positive and negative
impact of business decisions on all stakeholders. Frameworks are needed (like the purpose compass)
to enable operationalization.
(Re-)defining and integrating purpose in everything you do is not a project, a program or an initiative.
It is a journey that requires vast (massive) change management efforts (processes, systems, ways of
working, tools, incentives, etc.)
Above all it requires responsible and purposeful leadership.
, Tilburg University – MSc Marketing Management – Strategic Marketing Management - Fall 2022
LECTURE 3: STRATEGIC SOCIAL RESPONSIBILITY (PART II)
The Business Roundtable: an association of chief executive offices of America’s leading companies working to
promote a thriving U.S. economy and expanded opportunity for all Americans through sound public policy.
ESG: Environmental, Social and Governance.
The vast majority of companies report this a score that a company gets, that significantly impacts
investments. Companies who are doing this, their stocks performs better.
Environmental
o Climate, sustainability, etc.
Social
o Diversity of employees
o Human rights in local communities
Governance
o Management structure
o Employee compensation, employee relations.
Corporate Social Responsibility (CSR): The voluntary integration of social and environmental concerns in their
companies operations and in their interactions with stakeholders.
- A commitment to improve [societal] well-being through discretionary business practices and
contributions of corporate resources.
Social Dimensions of CSR (Carroll’s CSR Pyramid):
These at the top can only exist if they are resting on the bottom (firm foundation).
Goal Dimensions of CSR:
Altruistic CSR: Contributing to the common good at the possible expense of the business for altruistic,
humanitarian or philanthropic causes.
Ethical CSR: Trying not to do harm. It’s about the responsibility to avoid harms or social injuries.
Strategic CSR: It’s about firms social welfare responsibilities that benefits both the corporations and
the stakeholders.
Stakeholder Dimensions of CSR:
Companies should care about stakeholders.
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