This set of Notes includes all the materials covered within the lecture slide, classes as well as compulsory and optional readings. As a result, the Notes helped me attain a high First Class Honours both within this module, and the degree as a whole.
Example Question 1: Critically appraise and discuss xxx
Intro
Para 1 - WHAT - what is the business case for xxx / what are the concepts
Para 2 - WHY - why xxx is the case (support statement) / why is it useful / benefits of
concepts
Para 3 - WHY NOT - why xxx is not the case (against statement) / limitations of concepts /
challenges
Para 4 - HOW - how to succeed & how xxx can be the true / how to implement concept
o Who does what, in which circumstance / which factors is success dependent upon
and the context?
Conclusion
NOTE: Use Examples Throughout
NOTE: +10% Allowed
,Foundations of Marketing: Marketing Theory and Market Orientation - Lecture 1
Marketing -organisational function and a set of processes for creating, communicating and
delivering value to customers and for managing customer relationships in ways that benefit the
organization and its stakeholders.
Marketing can play a dual role (Omar Merlo, 2009):
can be an influential and distinct organisational entity, embodied in the marketing
department
can also be a culture, or philosophy of doing business - Marketing is more to do with
‘thinking’ than actually ‘doing.
Peter Drucker - “Marketing is the whole business seen from the point of view of its final result, the
customer”
Origin & Evolution of Marketing
The nature of Marketing has changed over the years in terms of its orientation:
1. Product orientation - Focus is on the product
2. Sales orientation - Focus is on volume and aggressive selling
3. Market orientation - Focus on satisfying customer needs and wants through a product
(anything that delivers a benefit needed by a customer - ‘need satisfying offering’).
Market Orientation
There are two dominant views of market orientation:
Process of collecting, disseminating and responding to intelligence (Kohli and Jaworski,
1990).
Organisational culture that creates the necessary behaviour for the creation of superior
value for customers (Narver and Slater, 1990)
Stages of Implementing Market Orientation
Intelligence Generation - gathering information and data to understand future customer needs
1. Market research 3. Market observation, client visits,
2. Benchmarking & competitive ethnographic research
intelligence 4. Day-to-day touch-points
Intelligence Dissemination - spreading information
1. Cross functional teams 4. Development of social capital
2. Job rotation 5. HR practices linked to collaboration
3. Internal reporting and 6. Internal marketing
documentation
Responsiveness - acting on the information
1. Design the product/service mix in a 3. Communication and pricing
timely fashion 4. decisions
2. Product and channel decisions 5. Relationships
Should emphasise that the firm should implement a market orientation
Should ensure not to neglect existing customers and internal audiences (I.e. employees) in
the pursuit for new ones - carry existing customers with the firm through the changes of
implementing market orientation
Pursue a market-based rewards system for employees where volume of sale isn’t the
criteria. Market the new orientation internally and to existing customers.
o I.e. General Electric link executive bonusses to ‘Net Promoter Score’ - a measure of
how execs have converted customers into promoters and minimise detractors.
Interdepartmental Factors
Increase connectedness
Improve Communication
Reduce Conflict
Organisational systems
Reduce formalisation
Reduce centralisation
Implement market-oriented rewards and employee training - encourage employees to leave
behind a volume based mentality and focus instead on long term customer value
Benefits of Market Orientation - Omar Merlo, 2009
Better Organisational Performance - Profitability, sales, market share
Greater Customer Satisfaction and customer loyalty - there is perception of better quality
More successful innovation and new product activity
More motivated and better performing employees - pride, commitment, team orientation
provides the right culture to develop and implement effective marketing plans (provides the
roadmap to create customer and financial value)
Forms of Market Orientation
Market driven - incremental innovation based on a
given market structure & behaviour
Market driving - Radical innovation that shapes market
structure & behaviour. Innovation is needed because:
o Companies that rely too much on current
customers may become victim of the “tyranny
of the served market”
o Customers should not be trusted to come up
with solutions. They aren't expert or informed enough for that part of the innovation
process. Customers should be asked only for outcomes-that is, what they want a
new product or service to do for them.
, Euro Disney Case Study
Euro Disney implemented both aspects of market driving, and aspects of aspect driven, and this
contributed to its success.
The “market-driven” view - adaptation is required
Target market differs from the other three theme parks significantly
Euro Disney targets a multinational customer base
Increased diversity of positioning
o Euro Disney is designed to appeal as a local, metropolitan entertainment option
(similar to Disneyland in Anaheim), a vacation destination (similar to Walt Disney
world), and a conference facility.
Different expectations of customers
Different labor climate
The “market driving” view – Teach the customer
Disney may be seen as a “total experience service” which offers customers a relatively
standard fantasy-based experience.
The guest experience itself is the core element, so no changes should be made to the design
or service delivery system.
If local consumers are unfamiliar with the concept, its appeal must be counted on to win
them over.
Tokyo Disneyland becomes the model for transferring the concept to an international
location.
If the experience must be the same everywhere, then there should be no deviance from the
tried and true approach to creating this experience.
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