100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
ALL Knowledge Clips and questions Marketing Strategy $7.51
Add to cart

Class notes

ALL Knowledge Clips and questions Marketing Strategy

2 reviews
 151 views  5 purchases
  • Course
  • Institution

ALL the knowledge clips in one document, including the questions discussed in the lectures.

Last document update: 2 year ago

Preview 4 out of 32  pages

  • November 28, 2022
  • December 20, 2022
  • 32
  • 2022/2023
  • Class notes
  • Nico schauern
  • All classes

2  reviews

review-writer-avatar

By: emjbal • 1 year ago

reply-writer-avatar

By: ElineRijnsburger • 1 year ago

Translated by Google

Thank you! Good luck with the exam

review-writer-avatar

By: annastofa • 2 year ago

avatar-seller
KNOWLEDGE CLIPS MARKETING STRATEGY 2022
Taught by: Nico Schauern



Table of Contents
Knowledge clip 1: The playing field...................................................................................................................... 2
Questions knowledge clip 1: The playing field...........................................................................................................6

Knowledge clip 2: Price leadership...................................................................................................................... 7
Questions knowledge clip 2: Price leadership..........................................................................................................13

Knowledge clip 3: Quality leadership................................................................................................................. 14
Questions knowledge clip 3: Quality leadership......................................................................................................16

Knowledge clip 4: Hybrid strategies................................................................................................................... 17

Knowledge clip 5: Time leadership..................................................................................................................... 18
Questions knowledge clip 5: Time leadership..........................................................................................................23

Knowledge clip 6: Ethics.................................................................................................................................... 24

Knowledge clip 7: The rules of the game............................................................................................................ 27

Knowledge clip 8: The rules of the game............................................................................................................ 28
Questions knowledge clip 7: The rules of the game & 8: The value proposition.....................................................31




1

,Knowledge clip 1: The playing field




Marketing strategy has 3 clusters of decisions: the playing field, the behavior of the players and
the game.

The playing field:
1) Definition of the relevant
market
2) Market segmentation




Definition of relevant market
The playing field = where to compete
 pick what you are good at. The market you compete on is not set in stone. You have a choice.

You can define your relevant market very narrow or very wide  track competition, track
potential customers and react to developments.

Where to compete? The right answer of market depends on:
- Subjective substitutability between products
1) This is out of the firm’s hand; it depends on the customers.
2) Look at price features.
- Where the company makes the cut, is the product still relevant?
1) This depends on who you view as a close competitor.

2

, 2) It is a strategic marketing decision. Watch closely, react to their reactions and
match up to your potential market.


Approaches to define your relevant market


C-PE:
Price
changes,
look at the
prices.

SSNIP:
Loyal
customers.




Market segmentation




The whole market  market segmentation  reduce homogeneity  heterogeneity

Market reaction measurement – Customer segmentation
Segmentation: identification of customer groups that respond differently from other groups to
competitive offers. A segmentation strategy couples the identified segments with a (specific)
program to deliver an offering to those segments.
Customer segmentation: marketers cannot satisfy everyone in a market  start by dividing the
markets into segments. Identify and profile distinct groups of buyers who might prefer or require
varying products.

There doesn’t Everyone
have to be very gets their
much own product
segmentation messages,
when the product/ customer,
service is a service, etc.
groundbreaking
innovation, it is
something that

3

, everyone wants to have.


Dilemma  the most important
segmentations are the most difficult to
measure and target.




Benefits segmentation:
- Assess customer preferences/benefits and additionally also other (easy to observe)
variables such as age, sex, etc.
- Define clusters of customers based on preferences/benefits (e.g., through cluster
analysis).
- Describe clusters based on preferences (identify attributes (preferences/benefits) that are
important) and additional variables (understand customer groups to define segment-
specific strategies.

 different clusters might need different approaches.




Competitor segmentation
Can make the market gap obvious and define most important competitors.

Mobility barriers between strategic groups
- Inhibit or prevent businesses from entering or moving from one strategic group to
another.
- Influence profit potential.
Examples: brand reputation, product quality, manufacturing knowledge, customer base.

Strategic groups: identify current and potential future competitors (e.g., through resource-based
concept).
Strategic group: the group of firms in an industry following the same or a similar strategy along
the strategic dimensions.
- Similar competitive strategy (distribution channels,
communication strategy).

4

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ElineRijnsburger. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.51. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

52510 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$7.51  5x  sold
  • (2)
Add to cart
Added