Summary

Summary Marketing Strategy: lectures | MSc Marketing Management | Erasmus University - RSM

21 views 2 purchases

Course
Marketing Strategy (BM04MM)

Institution
Erasmus Universiteit Rotterdam (EUR)

Summary of all the lectures of Marketing Strategy. This summary includes lecture notes and screenshots of the most important figures from the slides. I have updated the summary after the exam, so all important information is covered. The course Marketing Strategy was taught by Steven Sweldens a...

[Show more]

Last document update: 10 months ago

Preview 2 out of 11 pages

View example

Uploaded on January 4, 2024
File latest updated on January 9, 2024
Number of pages 11
Written in 2023/2024
Type Summary

marketing
strategy
marketing strategy
rsm
marketing management
master

Institution
Erasmus Universiteit Rotterdam (EUR)
Education
Marketing Management
Course
Marketing Strategy (BM04MM)

Daniquedhs

Member since 6 year 323 documents sold

CA$9.17

Added

Add to cart

Add to wishlist

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

MARKETING STRATEGY
Lectures

SESSION 1 | INTRODUCTION
 Freud’s iceberg metaphor: conscious thoughts (small) and unconscious thoughts (big)
o Why we think we buy things vs. why we really buy things
 Dual process theories: system 1 vs. system 2
o System 1: fast, automatic, unconscious, emotional & system 2: conscious, slow, rational
o But does system 1 actually exist? Still not sure - not two systems but a continuum
 Creating brand associations: a continuous trinity model linking associations to learning processes

  Marketing = interference between company and customers
o Marketing strategy = highest form of marketing
o Marketing as cost vs. investment: accountability and accounting problem
o Marketing as philosophy: putting the customer at the center of all you do
 Marketing = Strategy - How are we going to deliver?
o Goal = Profitable growth > change management > market forces
 Porter’s 5 forces: competition, new entrants, suppliers, customers, substitute products
 5 C’s: customers, competitors, company, collaborators, context
 Marketing is changing - but market forces stay the same
o 1960: stream of products to customer - product-oriented
o 1990: satisfying wants and needs - customer-oriented
 Don’t need a drill to make holes (average of 0 holes per year), but to feel independent
 Drill didn’t sell to professional segment: bad inter-segment dynamics
o Now: resources are not unlimited – system-orientation: shared value
 Shared value > change management > market forces
 Mini-Case study: Danone – One Planet. One Health
o Mission statement: bringing health through food to as many as possible
o Entreprise-à-mission: take social, societal, and environmental impacts into account
o Financial innovation, product innovation, packaging innovation, and consistent communication
o However profits went down, lagged behind competitors, and chairman got fired
 Mission statement: give purpose to company, identity to brand, and act as catalyst for innovation
 Purpose needs to be strong – only work when strong and consistent with brand
o E.g. Gillette receiving criticism on pink tax and sexism in controversial ad
 Financial benefits of shared value: better reputation, more stakeholders, risk mitigation, innovative
o Purpose can and will cost money though – never boosts profit

1

, SESSION 2 | GROWTH SHARE & BRAND RENEWAL MATRIX
 Market forces  Change management  profitable growth / shared value
o Manage forces in such a way to get a profitable growth
 Change management: resource allocation - market-driven vs. market-driving
 Two dimensions of resource allocation
o Horizontal = strategic – different brands
o Vertical = 4 Ps – price, promotion, place, product
 Disadvantages of large brand portfolio’s
o Fragmentation of resources and attention, brand blurring, destroying economies of scale
o The Branded House: e.g. Virgin – main brand on everything: use resources, halo effects
o The House of Brands: e.g. Unilever, P&G – complex (forgot trademark), risk management
 Advantage is diverse positioning possibilities
 Boston Consulting Group (BCG) Growth-Share Matrix
o X-as: subject to definitions - relative market share or segment share
 perfect duopoly = market share equal to largest competitor, middle: 1
 Monopoly = infinite, left bottom corner
o Y-as: market growth rate - how much market where a brand is in, is growing
 Same products always on the same y-as but different x-as
o Advantages: easy to perform, quick overview, good starting point, known, expected
o Disadvantages: no dynamic info, brands on boundaries, share & growth ≠ profit
 Brand Renewal Matrix
o Watch out for attentional blindness! Don’t neglect older, struggling or partner brands
o Brand contribution: overhead, bad PR, hidden costs, hidden benefits
o Brand traction: how strong is the brand today? Awareness, loyalty, purchase int., market share
o Brand momentum: where is the brand heading?

 Vertical resource allocation – more tactical
o Where & when: the buying process – customer journey and marketing funnel
o Generic funnel with marketing mix – 4Ps

2

The benefits of buying summaries with Stuvia:

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

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

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 Daniquedhs. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$9.17. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77254 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

Summary

Summary Marketing Strategy: lectures | MSc Marketing Management | Erasmus University - RSM

Document information

Subjects

Written for

Seller

Reviews received

Content preview