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Summary Applied Strategic Marketing: a step by step approach, Chapter 1-5
A summary of the book Applied Strategic Marketing: a step by step approach by Karel Jan Alsem. Chapter 1-5
[Meer zien]Voorbeeld 3 van de 17 pagina's
Voorbeeld 3 van de 17 pagina's
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Applied Strategic Marketing: a step by step approachKarel Jan Alsem
Chapter 1 – Chapter 5
,Chapter 1: The essence of marketing
Marketing can be interpreted in different ways:
- As an organizational culture (customer orientation and brand orientation) a set of values
and beliefs that drives the organisation to make a fundamental commitment to serving
customers’ needs as the path to sustained profitability.
- As a strategy (targeting and positioning) defining target markets and positioning product
offerings.
- As for tactics (4 Ps: product, price, place, promotion + personnel) the day-to-day activities
of the four marketing instruments: product development, pricing, distribution, and
communication. sometimes, personnel is also added as a fifth ‘’P’’
The three meanings of marketing have been interpreted as a hierarchy in marketing theory:
The top level: defines the core content of marketing.
It stresses the main issues in marketing in general and
provides a rough indication of what is important
at the lower level:
marketing strategy.
The marketing strategy is chosen using the results of
internal and external analysis. Marketing strategy
deals with segmenting, targeting, and brand
positioning, raising the question of how to compete.
Marketing strategy should give a direction to the lowest level: tactics.
Lowest level: defining the marketing mix.
The strategic marketing concept states that a company should pay attention to:
- Customers: as in the classic marketing concept
- Competitors: not just to be better but also perhaps to collaborate
- Long-term relationships: including developing products for which there is a potential
demand
- Other interest groups inside and outside the organisation: such as distributors, employees,
suppliers, financiers.
Marketing as a balance between customer and brand
Brand identity = the visible
elements of a brand, such as, colour,
design and logo, that identify and
distinguish the brand in customers’ minds.
, The needs of the customer and the identity of the brand are not fixed constructs. They affect each
other, so there are dynamics.
Brand identity affects the needs of
customers, since consumers cannot always
think of innovations themselves and have to
learn from innovations created by companies (e.g. mobile phone).
Companies can change their core competencies if they realise that the future required this
change.
Marketing activities can be divided into four parts:
- Analysis: refers to analysing potential customers competitors, (e.g. through market research)
distribution structures and the suppliers, the industry structure and the macro environment
(e.g. demographic developments) and internal factors as the company and the company’s
brand.
- Planning: all decisions that are made as well as the documentation of those decisions in
plans. In conducting planning activities the company should be able to answer the following
questions:
Where (and when) to compete? refers to the choice of markets, positions and periods
How to compete? refers to the choice of a competitive advantage, including
positioning, target audience definition and segmentation and determination of the objectives
regarding the use of marketing mix elements.
- Implementation: execution of the strategic marketing decisions, motivating and managing
the company’s personnel, and involving and briefing the advertising agency.
- Control: refers to items such as an analysis of the sales/financial data, an evaluation of the
results against objectives, and check of the implementation decisions that were made.
The relation between marketing and other functional areas:
The relation between marketing and R&D is innovation. R&D (including ICT) is an important
source for new ideas and new products. An inspiration for innovation can come from
marketing, for example, by sharing results of market research focusing on problems
consumers encounter in using products.
The relation between marketing and HRM is the P of personnel. Two related issues are
important. Internal branding means that all employees should behave in line of the
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