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...
[Meer zien]
Laatste update van het document: 10 maanden geleden
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
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
√ Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, Bancontact of creditcard voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper Daniquedhs. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €5,99. Je zit daarna nergens aan vast.
