Strategic Market Management
12th Edition
by David A. Aaker
Complete Chapter Solutions Manual
are included (Ch 1 to 17)
** Immediate Download
** Swift Response
** All Chapters included
** Teaching Notes included
, CHAPTER INSTRUCTOR NOTES
Chapter 1 – Strategic Market Management – An Introduction and Overview
CONTENT OF CHAPTER 1
1. The core elements of marketing strategy involve decisions and actions regarding why,
where, how to compete, and how to organize to compete. Defining company purpose,
choosing an offering and target market, deciding on a customer value proposition and
which assets and capabilities to build out are all strategic decisions that companies must
make.
Discussion:
• Discuss the decisions a company must make when determining why, where, how to
compete, and how to organize to compete. How do these decisions influence strategy
development and what best practices can companies apply when making them?
2. When selecting a marketing strategy, companies should assess the strategy’s fit with
company purpose, its ROI, its potential to generate a long-term competitive advantage, its
feasibility, and its alignment with other company strategies.
Discussion:
• Discuss the significance of aligning marketing strategies with a company’s purpose.
How might this alignment contribute to building a strong brand identity and reputation
in the market? Does creating alignment have any impact on capturing customer loyalty
and establishing long-term customer relationships? What challenges may arise in the
absence of this fit?
3. The strategic marketing management process entails conducting external, internal, and
strategic market analysis to gather insights that inform strategy development, then creating
the marketing strategy itself, managing that strategy for growth, and finally implementing
the strategy to produce company value.
Discussion:
• Discuss the key steps in the strategic marketing management process. Why is external
analysis an essential step in the process and how might it influence a company’s
strategic decisions?
4. Effective strategy development should start with the issues, involve the right people, adapt
planning cycles, and be measured through a strategy performance system.
Discussion:
• Discuss the importance of having the right people involved in the strategy
development process. Are there any examples whereby the right stakeholders
positively influenced strategic decisions and kept the company from missing out on a
great opportunity or failing to overcome a great threat?
, • Why is it important to adapt planning cycles to the business and measure strategy
outcomes through a performance system? How might the dynamic nature of markets
necessitate these approaches?
5. Marketing’s role at the strategy table has grown over the years. It contributes to strategy
by being the primary driver of strategic analysis, creating customer value, selecting
company offering and target markets, driving growth strategies, and building customer
and brand assets.
Discussion:
• A discussion can occur around the role of marketing in the strategy process. Should
marketing have a seat at the table? Why or why not? Does it matter what company or
what strategy? This book makes clear that given the definition of a strategy, marketing
has a natural and key role. The question could be revisited in the context of each
dimension of the strategy process.
Discussion of opening quotes
It may, in general, be interesting to discuss the opening quotes for each chapter with the class.
However, for the purpose of this initial chapter, it may be particularly helpful given the ideas
are very broad. The quotes are repeated and a few thoughts offered.
• “Strategic planning is not strategic thinking. Indeed, strategic planning often spoils
strategic thinking, causing managers to confuse real vision with the manipulation of
numbers.”
- Henry Mintzberg
This quote emphasizes the difference between strategic planning and strategic thinking and
warns against the pitfalls of relying solely on strategic planning for vision. A discussion of
how strategic thinking is more forward-looking and innovative than strategic planning, and
how it can help managers keep sight of the bigger picture and long-term vision for the brand
and company may be useful when introducing the strategic marketing process.
• “Marketing is not the art of finding clever ways to dispose of what you make. It is the
art of creating genuine customer value.”
- Philip Kotler
This quote highlights the importance of adopting a customer-centric perspective over a
product-centric one in the management of marketing. A discussion of the importance of
creating customer value and recognizing the dynamic nature of customer value itself may be
interesting in the context of discussing why companies compete.
• “Profit in a company is like oxygen for a person. If you don’t have enough of it you
are out of the game, but if you think your life is about breathing, you are missing
something.”
- Peter Drucker
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 mizhouubcca. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $29.49. You're not tied to anything after your purchase.
