College aantekeningen
Marketing in MEE - Lecture Summary (inc. notes)
- Instelling
- Vrije Universiteit Amsterdam (VU)
Lecture Summary - Marketing in MEE
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Lecture – Marketing in Emerging EconomiesLecture 1: Introduction (03/04/2018)
Why marketing?
- Important for various reasons, mainly for incorporating outside result to inside
result.
- Marketing comes in to have a customer value focus to make sure that the innovation
is acceptable in the society (sometimes companies have a brilliant ideas or products
but customers are not able to adopt with it)
Purpose of marketing changes over time
- Over time, the customers expectation change (different taste, preferences)
- That’s the reason why marketing started to emerge (Early 60s)
- Now marketing is not only about the customers but also about the environments,
partners (suppliers, the whole value chain), etc.
- Customers are now more concern about their spending
Why big picture model?
- We will be using the big picture model throughout the course
, - To have an idea how business strategy is related to marketing strategy, etc. (how this
alignment works, how to integrate this decision)
Why emerging economies?
- Marketers are faced with many challenges (environmental pollution, digital phase,
social media, globalisations, etc.).
- We are encountering different culture and different languages. One way to
encounter or to get over these conflicts is to study the emerging economies
Comparison of emerging and mature economies
Challenges of emerging markets
- Different markets
- Take into consideration about single entrepreneurs, open markets, etc.
- There is some danger in the market for companies, products, etc.
- Think about how we can make the circumstances better for us (make it as an
opportunity)
,Lecture 2: Business Objective and Marketing Objective (09/04/2018)
Business strategy
- Corporation has 2 main goals à Product differentiation (competitive advantage) and
cost leadership (based on price)
- Focus à targeting specific market segments and think about specific needs so that
companies can focus on small or profitable markets
- The worst scenario à stuck in the middle, don’t know when to position yourself
Business strategy in EE vs. ME
- “pure strategies work” idea is limited to mature economies (ME)
- The benefits of a pure strategy, relative to a mixed strategy, are diminish for firms in
emerging economies (EE)
- Differentiation or cost leadership suits for mature economies where are combination
of both suits for emerging economies
, 4 questions to identify business objective
1. Who are we? à identify fundamental entity, focus unit (specific brand operating at
specific country)
2. What are we good at à core competence (generic strategy, technology orientation,
innovative capabilities)
3. Where are we point? à goal (we don’t want to have an overlap goal)
4. What is out main business? à core business (what is the core industry that you want
to work with)
- Be very clear to distinguish things (Actionable point). There should be integration
- The answers should be specific and actionable
- Every executional decision should align with the primary business objective
1. Who are we? (fundamental entity)
- The brand level for which we conduct a strategic analysis
- Brand: a collection of beliefs – a core belief the customers hold about the product or
service, and a compilation of memories, experiences, observations, information, and
stories from other that support and reinforce the core belief
- Brand strategies à distinct branding, hybrid branding, and umbrella branding
- Identifying branding type and allocate
- Brand is not a name or logo but it is about the association. Each consumer have
something in their mind once they hear the brand name
- Umbrella branding
• There is a single unique branding to make the value proposition
• Ex: Sony à just create one single story and find the dimension
• Products of the brand belong to one category
• There are no other brands the company is working with
• Same value proposition (how customers view the brand), same needs
• There is something that tightering the product lines
- Distinct branding
• Disadvantage à create a unique idea for every single product, have
marketing team, medias and professional for each and different agencies
because brands are in different categories
• If there is something going wrong with one market, it doesn’t spill of to
another market (only influence one specific brand, there is boundaries)
• Different value proposition
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