A summary for the second year course strategic and oporational marketing. From the first lecture until the 10th. This summary includes images but also extra explanation from the prof and to explain some images better.
Table of Contents
Strategic and operational marketing........................................................................................................................3
PURPOSE OF STRATEGIC AND OPERATIONAL MARKETING.....................................................................................................3
What is a Business Strategy?..................................................................................................................................................3
A Business Strategy................................................................................................................................................................3
BUSINESS DEFINITION............................................................................................................................................................5
The Product-Market Investment Strategy...............................................................................................................................5
Customer Value Proposition Examples...................................................................................................................................5
BUSINESS GOALS OR OBJECTIVES...........................................................................................................................................5
The balanced scorecard of objectives.....................................................................................................................................6
BUSINESS GOALS OR OBJECTIVES...........................................................................................................................................7
CONVERTING ENVIRONMENTAL OPPORTUNITIES INTO ORGANIZATIONAL OPPORTUNITIES.................................................7
SWOT ANALYSIS.....................................................................................................................................................................8
IMPLEMENTING THE MARKETING MIX...................................................................................................................................8
The market and industry interact...........................................................................................................................................8
The components of a customer orientation............................................................................................................................9
The customer-oriented business...........................................................................................................................................10
MARKETING PLAN................................................................................................................................................................10
ETHICS AND SOCIAL RESPONSIBILITY....................................................................................................................................11
MARKETING STRATEGY FRAMEWORK..................................................................................................................................11
OPPORTUNITY ANALYSIS......................................................................................................................................................11
OPPORTUNITY EVALUATION MATRIX—ATTRACTIVENESS CRITERIA.....................................................................................14
MARKET STRUCTURE FOR COFFEE IN THE UNITED STATES....................................................................................................15
MARKET SEGMENTATION.....................................................................................................................................................16
MARKET TARGETING............................................................................................................................................................18
SALES AND PROFIT FORECASTING.........................................................................................................................................20
A composite portfolio model................................................................................................................................................21
The five-factor model of industry profitability......................................................................................................................22
The strategic focus................................................................................................................................................................23
Strategic and operational marketing : Lecture 3.....................................................................................................24
Strategic and operational marketing : Lecture 5.....................................................................................................43
Innovation and New product development..........................................................................................................................43
Strategic and Operational Marketing Lecture 6......................................................................................................49
Pricing Policy – Delivering Value...........................................................................................................................................49
Strategic and Operational Marketing : lecture 7.....................................................................................................53
Communication strategy.......................................................................................................................................................53
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Strategic and operational marketing : lecture 8......................................................................................................83
MANAGING PERSONAL SELLING...........................................................................................................................................83
Strategic and Operational Marketing : Lecture 9....................................................................................................94
The value chain and the marketing channel..........................................................................................................................95
Costs of direct versus indirect marketing channels...............................................................................................................95
Break-even between using a distributor and own salesforce................................................................................................96
Three generic marketing channels........................................................................................................................................96
Determinants of channel control..........................................................................................................................................97
Conventional and vertical marketing channels compared....................................................................................................98
Setting customer service levels.............................................................................................................................................99
Product and warehouse location decisions...........................................................................................................................99
Strategic and operational Marketing : Lecture 10.................................................................................................100
The Nature of Services.................................................................................................................................................................................101
The goods–service continuum.....................................................................................................................................................................101
Characteristics of Services...........................................................................................................................................................................101
Intangibility..................................................................................................................................................................................................103
Inseparability................................................................................................................................................................................................103
Variability.....................................................................................................................................................................................................103
Perishability..................................................................................................................................................................................................104
Classifying services.......................................................................................................................................................................................105
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Strategic and operational marketing
PURPOSE OF STRATEGIC AND OPERATIONAL MARKETING
- To create long-term and mutually beneficial exchange relationships
between an entity and the publics (individuals and organizations)
with which it interacts.
What is a Business Strategy?
- The Product-Market Investment Strategy
- Where to compete
- The Customer Value Proposition
- Assets and Competencies
- Functional Strategies and Programmes
Value proposition= meaningful for customers
"even if you are on the right track, you'll get run over if you just
sit there" "if you don't know where you're going you might end
up somewhere else"
A Business Strategy
The 3 developments:
1) Global forces will continue to effect everyones busnisses and personal life.
2) Technology will continue to advance and amaze us
3) There will be a continuous push towards deregulation of the economic sector
Marketing: meeting needs profitably (human and social needs ex: ikea the
notice that there targeted group want durable furniture at a low price)
Strategic and operational marketing= creating a long term beneficial
relationship between entities and publics (= individuals and organizations)
⇨ A system designed to help manage create, change, or retain business
strategy and to create strategic visions (= projection of a future strategy)
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With a business strategy in hand the task is to :
1) Continiousnly challenge the strategy in order to make shure it remains
relevant to the changing market place and responsive to opportunities
2) Ensure that the organization develops and retains the necessary skills
and competencies to make the strategy succeed
3) Emplement the strategy with energy and focus => bad emplementation : failure
External analysis:
- Customers
- Competitors
- Market/submarket => attractiveness of the market, threats and opportunities
- Environmental
Internal analysis (detailed analysis of the organization)
- Performance => looks at sales but also at customer loyalty, brand ,image,
costs,..
- Determinants of strategic options
What is a business: an organizational unit that has or should have
a defined strategy and a manager with sales and profit responsibility.
They can be defined by a variety of dimensions including => product
line, country, channels or segments.
How to compete in order to win=
- Value proposition
- Assets and competencies
- Function area strategies and programs (short term)
Where to compete? => the product-market investment decision
Diverse objectives into 4 perspectives:
- Financial perspective => meeting the objectives of shareholders
- customer perspective => meeting the needs of customers
- operational perspective => achieving on the key libres that drive
performance excellence
- Internal perspective => meeting the expectations and building up the
capabilities of employees who's skills determine the future
What is a business: an organizational unit that has or should have
a defined strategy and a manager with sales and profit responsibility.
They can be defined by a variety of dimensions including => product
line, country, channels or segments.
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