Theses are notes covering chapters 5, 6, 7,8 and 9 from the Applied Strategic Marketing textbook. These notes have been compiled in conjunction with the textbook and lecture slides. It is advised that you go through them with the textbook to make further notes or elaborate on topics that are not u...
ORGANISATIONAL RESOURCES
Financial resources
Human resources
Physical resources (inventory & buildings/factories)
Technological resources
Knowledge assets (how things are done. Tacit knowledge, sometimes becomes automatic)
Information resources (data acquired, stored & used)
Marketing Resources (Brand reputation, stakeholder relationships (suppliers, customers), distribution channels and
promotional mix)
*VIRO ANALYSIS
Strategic resources fulfil the conditions of VIRO (resource based view):
Value: determined by selling price, production cost, quality differentiation
Imitability: if resources are difficult to imitate, an organisation might gain a temporary competitive advantage
Rarity: if resources are rare and thus only one or a few organisations are in possession of, or have access to
these resources, a competitive advantage is guaranteed.
Organisation: organisation must be good at packaging to deliver all of the dimensions (Core competencies)
VIRO Analysis: examines the core competencies that result in an organisation having a competitive
advantage.
A competitive advantage is supported in the following 3 key points
(1) A complex interplay of marketing resources makes the identification and imitation of individual
resources and resources mixes difficult
(2) Strength of resources that are difficult and time-consuming to imitate
(3) Reputation and routine of use or purchase help to position and hold a position in today’s markets.
VALUE CREATION
Customer intimacy: know what
your customers want
Operational excellence: when a
product works exceptionally well.
, RESROUCE-BASED VIEW
RBV: is a managerial approach that focuses
on detection and combination of strategic
resources in order to gain a competitive
advantage
VIRO Analysis: internally evaluates the resources & capabilities of the organization.
Heterogenous: resources for each organization are different
Immobile: resources cannot be transferred from one organisation to another in the short term
OPTIMAL UTILISATION OF MARKETING RESOURCES
An optimal utilisation of marketing resources takes the following into account:
Marketing assets Internal Marketing Foundation
Resources: marketing strategies that
improve the standpoint of the organisation
financially, structurally and internally (e.g.,
cost advantage, corporate culture)
Knowledge based assets: build of
intellectual resources and enfold the entire
knowledge of the organisation and its
workforce
Market based Assets: focus on market specific properties, customer relationships and
distribution channels e.g., country of origin
Supply chain assets: focus on the optimization of distribution channels
Marketing capabilities Marketing Capabilities: are the point of
using marketing assets (knowledge, skills and
resources) successfully in the marketplace.
Implementation, execution or activation
capabilities
Dynamic marketing Dynamic Marketing Capabilities: focus on creating new marketing resources for the
capabilities organisation
The new marketing resources help to identify, responds to and exploit marketing changes
(1) Sensing capability (absorptive) (PESTLE)
, (2) Capturing capability/adaptive capabilities: doing things differently in response to
market changes (key tenets include market targeting, positioning and establishing
relationships)
(3) Realisation capability (innovative marketing): innovation of products/services
RESOURCE PORTFOLIO
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