Samenvatting
Summary Strategic Marketing Ch 10-15
- Instelling
- Hogeschool Van Amsterdam (HvA)
Ch 10-15, 18 pages summary
[Meer zien]Voorbeeld 3 van de 18 pagina's
Voorbeeld 3 van de 18 pagina's
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Voorbeeld van de inhoud
Chapter 10: Energizing the business4 ways to grow a business (Growth strategies):
1. Leveraging the current business (Chapter 11) Taking the existing products into new
markets, finding new products of services for the existing customer base or leveraging assets
such as brand equity or competencies such as managing the supermarket channel.
2. Create a new business (Chapter 12) By finding white space in the market or by
transformational innovation.
3. Going global (Chapter 13) Leveraging the business into new countries to create a broader
market or creating new or improved assets and competencies that will lead to sustainable
competitive advantage in a global market place.
4. Energizing the business (Current chapter) 1. By innovating to improve the offering. 2. By
energizing the brand and marketing. 3. by increasing existing customers’ usage.
1. Innovating the offering (Best way to energize the business)
- Improve the customer experience
- Enhance the product through innovation
- Introduce line extensions ( New flavours, packaging, sizes, services etc.) Line extensions
need to balance their value with the risk that the added cost might become a burden and
that customers might rebel over the added confusion and complexity.
This can be prevented by building an organizational culture that builds innovations into the
business strategy.
Branded differentiator: an actively managed, branded feature, ingredient or technology, service, or
programme that creates a meaningful/impactful point of differentiation for a branded offering over
an extended period of time.
It serves to: differentiate your business from competitors, communicate the benefits and add
credibility to the product/service.
Why brand a feature, ingredient or technology, service or programme?
1. A brand can add credibility or legitimacy to a claim
2. It makes communication easier
3. It creates a basis for a sustainable competitive advantage
1. Energizing the brand and marketing (suggestions)
Involve the customer Elevates the energy level of the brand and the business
Go retail Helps to communicate core brand values in a controlled and authentic fashion
Publicity events A way to gain visibility and provoke conversation
Promotions to attract new customers
,Branded energizers: a branded product, promotion, sponsorship, symbol, programme or other
entity that by association significantly enhances and energizes a target brand.
Characteristics of branded energizers:
Should have energy and vitality as opposed to being lethargic
Needs to be connected to the Master Brand one connection route is to use a sub-brand
where the master brand has a connection in the name. A second one is to select a
programme or activity that is easily linked to the brand and a third is to forge the link by
consistently building it over time with the use of link-building resources.
Should significantly enhance as well as energize the target brand and should not detract or
damage the brand.
The external brand should be linked to the lifestyle of consumers, have required associations
to energize and enhance, should not be tied up to competitors, should be linked to the target
brand and represent a manageable alliance
The brands involved should be expected to have a long life and merit brand-building
investments
Types of branded energizers:
Branded sponsorship Millennium dome in London now O2 Arena, Samsung sponsoring
the Olympics, E.ON sponsoring the F.A. Cup in the UK.
Endorsers. Should have: an appealing image, on-brand associations, a potential for a long-
term relationship, a potential to create programmes surrounding the endorser and cost
effectiveness and availability
Symbols (Ferrari’s black stallion, Michelin man) Give a personality to the brand or they
can suggest attributes.
Branded promotional activities Innocent smoothies using their ‘herd’ of cow vans.
Branded social programmes Provides the foundation of a customer relationship based on
trust and respect. I also provides energy by generating interesting ideas and even passion,
tangible results and opportunities for customer involvement.
Principles as a guide to action:
Know thyself (what does the business stand for?)
Get a good fit. Being authentic, connected to the programme and effective will be
easier if there is a fit.
Brand it. If the programme has a strong visible brand, people will be much more
likely to learn and remember.
Create an emotional connection. An emotional connection in general communicates
much more strongly than a set of facts and logic. The message is punchier and
simpler.
Communicate the programme. Gain access to the right set of vehicles including the
website, social technology, PR and active employees to communicate the
programme.
Involve the customer. The ultimate way to gain supporters and advocates.
, Branded CEOs. The right CEO with the right message can create news with credibility and has
the advantage of being able to access media. The CEO should have energy with respect to
ideas, a distinctive personality and be around for a long enough time period to become a
recognized representative of the brand.
2. Increasing the usage of existing customers
When developing programmes to increase usage, it is useful to begin by asking some fundamental
questions about the user and the consumption system in which the product is embedded. Why isn’t
the product or service used more? What are the barriers to increase the use? Who are the light users
and can they be influenced to use more? What about the heavy users?
Greater usage can be precipitated in two ways: by increasing either the frequency of use or the
quantity used.
Strategy Examples
Motivate heavy users to use more Perks with more season tickets
Make the use easier Microwaveable containers
Provide incentives Frequent flyer miles
Remove or reduce the reasons not to Gentle shampoo for frequent use
buy
Provide reminder communications E-mail birthday calendar
Position for regular or frequent use Floss after meals
Find new uses Snowmobiles for delivery.
Chapter 11: Leveraging the Business
Leverage means to gain an advantage through the use of a tool.
There are many ways to generate growth options that lever the core business. The creative thinking
processes can help. The creative thinking exercises can best be engaged around the following series
of questions, which have proved to be a good source of options:
Which assets and competencies can be leveraged?
What brand extensions are possible?
Can the scope of the offering be expanded?
Do viable new markets exist?
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