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Strategic marketing managementLecture 1 – Intro
In this course we will look at strategic marketing management (strategy) and tactical
marketing management (implementation/execution on short term within firm).
How do we know which logo belongs to which industry? How Rolex differentiate itself clever
product line, scarcity, not caught up on trends cs. Esentially it is because of strategic
marketing. Consumers will associate certain things with your firm based on your strategic
marketing decisions.
Marketing strategy is an organizations integrated pattern of decisions that specify its crucial
choices concerning products, markets, marketing activities and marketing resources in the
creation, communication, and/or delivery of product that offer value to customers in
exchanges with the organization and thereby enables the organization to achieve specific
objectives (paper Varadarajan 2010).
“A thoughtful plan by a company to produce desired outcomes in the marketplace vis-a-vis
customers, channel members and competitors” (Kotler 2012 Handbook of Marketing
strategy)
Strategic marketing decisions are a matter of making choices. There is no correct decision.
Marketing strategy should be,
Unique
Distinctive-Ayırt edici: different from competitors
Coherent-tutarlı: Rolex don’t sell everywhere! It makes sense
Dynamic: update your image overtime: apple pay
To create a sustainable competitive advantage
Not good:
Set of (uncoordinated) tactics
Similar characteristics or decisions as competing firms
Poor implementation of activities
Strategic marketing decisions = long-term holistic decisions concerning the future directions
for the organizations. Features:
Entail major resources commitments spread over long periods: different from marketing
tactics its long term: 10 years or more
Impact over longer time periods
Result in a distinguishable competitive advantage
Irreversible or difficult to reverse
Entails trade-offs: we pick one strategy say bye to others
Made in the context of other strategic decisions (interdependencies)
Made at a higher level of the organization.
*** Tactical decisions are opposite of this : easy to implement and reverse
,Essence of strategic marketing is to create competitive advantage. You might change on the
way. There is no one more, its more about realizing alternative options.
Examples: loyalty program British Airlines: business launges, priority boarding, upper class
sophisticated, they are business people they don’t care about discounts free stuff
Apple Pay app(establishing strategic partnerships): Master card and apple
Other examples of strategic marketing decisions: launching a new product, new product line,
loyalty program, entering a new market, promotional policy changes, social media campaign,
rebranding, etc.- do these less than every 10 years
Tactical Marketing Decisions
Short term- annually or quarterly- decisions to execute the strategic directions
F.E: brand price level(99 cent freemium etc), advertising by brand, sales force allocation
Lecture 2- Guest Lecture Ronald de Jong (Chairman Philips).
Content of this lecture:
1. Global challenges
2. The UN Sustainable Development Goals
3. Corporate Social Responsibility/Creating Shared Value
4. Social entre- and intrapreneurship
5. Purposeful and responsible leadership
How will we cope with global challenges?
Country overshoot days: Day in the year where country reach the limit of consuming natural
resources. Many counties reach early in the year
There will be more than 10 billion people living on our planet by 2050
We will need the resources of 3 planets by 2050
These people will be consuming and polluting!
*Global challenges are complex and strongly interdependent: In Africa covid isn’t a health
but an economy crisis
*Gender parity gap increasing
*Income makası açılıyor: billionaires vs poverty
*Inequality between countries is rising:f.e vaccination
Covid will breing recession, climate change and biodiversity collapse
Sustainable Development goals of UN
The sustainable developments goals: some big worldwide issues and goals on how to find
solutions for them. Bijv. No poverty, zero hunger, quality education and climate action.
Formulated in such a way that if we would achieve them, everyone can live happily. The
SDGs explicitly recognize that addressing today’s global challenges must go hand-in-hand
with strategies that build economic growth. The 17 Sustainable Development Goals are
integrated and indivisible and balance the three dimensions of sustainable development:
economic, social and environmental.
,Purpose of Organizations Lately
Companies switch from shareholder capitalism to stakeholder capitalism
Value creation isn’t profit anymore, it is a social and environmental aspect. They have
broader responsibility.
There is more and more debate around the need to redefine the purpose of the corporation
From focus on shareholders => To an inclusive approach to Customers, employees, suppliers,
communities, and shareholders.
Danone denemiş finansal olarak tutturamamıs becerememiş.
Unilever denemiş sustainability goallarını mazeret olarak kullanıyorsun demişler
So, you need balance btw shareholders and stakeholders
Grameen Danone Ltd.
“Bring health through food to as many people as possible“: Franck Riboud, former CEO
Danone. Teaming up with GrameenBank to reach malnourished communities through
inclusive business models. Bangladeşte Grameen bankası partnership yapmıs. Danone
yogurtları agents tarafından satılmış Agents maas alabilmiş, insanlar beslenebilmiş
Unilever
Pioneering the role of business in the SDGs. Embracing Universal access to safe drinking
water, sanitation and hygiene as a key business goal. “We have the scale, influence and
resources to make a big difference”: Paul Polman, CEO.
What does it have to do with customers?
Reputation of the brand
Understanding customer expectations and desires
Importance of understanding the connection between social progress and business
, Success, Why is CSV (creating shared value) increasingly a business imperative?
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. Example: World Cocoa
Foundation)
Why is it so difficult and why do many businesses miss the opportunity?
- Legitimacy and importance of trust
- Competitive free riders (but example Novo Nordisk in China)
- Justification of investment: need the pay off
- Expertise required in both societal and business issues
- Long term commitment needed
- Ring-fenced budgets required (example: Danone Ecosystem Fund)
What is responsible leadership?
- Responsible leaders 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. Put others interest before your own.
- So “responsible” implies responsibilities towards the various
stakeholders
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...
Why responsible leadership?
You must be responsible to be a leader. Reforms are needed. Need to response to
deficiencies in the existing leadership framework.
PHILIPS- Translation purpose into action and impact
*If you want to find a purpose for the company challenge existing paradigms
Philips formulated and validated their goals. Improve 2.5 billion lives per year by 2030.
Diversity to workers, long term vale to shareholders, responsible towards planet and society.
Then detail out the commitments and their contribution to purpose
Create a target setting: Partnerships, Enablers, climate action, health for all etc.
Create a purpose compass and metrics to drill down: which enables us to identify how we
create impact for our key stakeholders in 4 areas.
*Example of process: MRI remote monitoring: instant diagnosis: just benefits others: better
employee experience better patient experience better for environment
Key takeaways:
• The pendulum in business is swinging back focus on shareholders to a more inclusive
stakeholder approach: forcing businesses to rethink and redefine their purpose in support of
the Global Goals (SDG’s)
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