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STRATEGIC MARKETING OVERVIEW
WHAT IS MARKETING STRATEGY?? The primary focus of marketing strategy is to effectively allocate and coordinate marketing resources and activities to accomplish the firm’s objectives within a specific product market.   - Walker, Mullin, Boyd, Larreche
EVOLVING VIEWS OF MARKETING’S ROLE a. Marketing as an equal function Finance Production Marketing Human resources
EVOLVING VIEWS OF MARKETING’S ROLE
EVOLVING VIEWS OF MARKETING’S ROLE e. The customer as the controlling function and marketing as the integrative function Customer Marketing Production Human Resources Finance
STRATEGIC MANAGEMENT OVERVIEW
STRATEGIC MANAGEMENT Strategy Formulation From Schermerhorn Management 8e Strategy Implementation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
STRATEGIC MANAGEMENT PROCESS From Kreitner Management 5E Strategic Management Process Kreitner Figure 7.2
PORTER’S GENERIC COMPETITIVE STRATEGIES Michael Porter, 1984. Competitive Scope Competitive Advantage Narrow  Target Broad Target Differentiation Lower Cost
PORTER’S GENERIC COMPETITIVE STRATEGIES Competitive Scope Competitive Advantage Narrow  Target Broad Target Differentiation Lower Cost
BUSINESS MODEL OVERVIEW
WHAT IS A BUSINESS MODEL? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],“ Description of the value a company offers to one or several segments of customers and of the architecture of the firm and its network of partners for creating, marketing, and delivering this value and relationship capital, to generate profitable and sustainable revenue streams. ”     —  Osterwalder, Pigneur and Tucci, 2005
  CORE COMPONENTS OF A BUSINESS MODEL Morris, M., Schindehutte, M “Teaching Entrepreneurship Students the Concept of a Business Model” ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
CORE COMPONENTS OF A BUSINESS MODEL ,[object Object],Walker, O. C., Jr., Mullins, J. W., & Boyd, H. W., Jr. (2007).  Marketing Strategy . McGraw-Hill Companies. Infrastructure Offer Customer Finance Core Capabilities Value Configuration Partner Network Value Proposition Distribution Channel Customer Relationship Target Customer Revenue Streams Cost Structure
EXAMPLES OF B-MODELS
ECONOMIC MODEL:  HOW THE BUSINESS MAKES MONEY Morris, M., Schindehutte, M “Teaching Entrepreneurship Students the Concept of a Business Model” Operating Leverage : High/medium/low Revenue Sources : fixed/mixed/flexible Margins : high/medium/low THE ECONOMIC MODEL OF THE BUSINESS Volumes : high/medium/low
THE CUSTOMER OF THE FUTURE  Chapter 3 INNOVATE OR DIE: CREATING MARKETS AND  LEADING CUSTOMERS
THE PATHS THAT OFFERINGS CAN TAKE Schindehutte, M. & Morris, M. H. & Pitt, L. (2008).  Rethinking Marketing . Upper Saddle River, NJ: Pearson. 46. An Offering Evolves Either by an… An Offering Evolves Either by an… An Offering Evolves Either by an… Extension  New and Improved Subversion Use at Odds with Original Intention  Diversion  Change Use of the Offering Through Social Means Emersion  Offering has a Primary Change Effect on People Aspersion Offering Produces Secondary (“side”) Effects
CREATIVE CONSUMERS… ,[object Object],[object Object],[object Object],[object Object],Schindehutte, M. & Morris, M. H. & Pitt, L. (2008).  Rethinking Marketing . Upper Saddle River, NJ: Pearson. 53-54.
FIRMS’ STANCES TOWARD  CREATIVE CONSUMERS Active Passive Negative Positive   Firm’s  Actions  Toward Creative Customers  Firm’s Attitude Toward Creative Customers  Schindehutte, M. & Morris, M. H. & Pitt, L. (2008).  Rethinking Marketing . Upper Saddle River, NJ: Pearson. 57.
[object Object],[object Object],[object Object],Schindehutte, M. & Morris, M. H. & Pitt, L. (2008).  Rethinking Marketing . Upper Saddle River, NJ: Pearson. 60.
DO THE DOGS LIKE  THE DOG FOOD?  ENTREPRENEURIAL  MARKET RESEARCH  Chapter 4
MARKETING RESEARCH REVIEW The Set-Up The Measurement The Measurement The Management Decision Schindehutte, M. & Morris, M. H. & Pitt, L. (2008).  Rethinking Marketing . Upper Saddle River, NJ: Pearson. 69.
A BACKWARD APPROACH The Set-Up The Set-Up The Measurement The Management Decision Schindehutte, M. & Morris, M. H. & Pitt, L. (2008).  Rethinking Marketing . Upper Saddle River, NJ: Pearson. 69.
GUIDE THE ENTREPRENEURIAL  RESEARCH PROCESS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Schindehutte, M. & Morris, M. H. & Pitt, L. (2008).  Rethinking Marketing . Upper Saddle River, NJ: Pearson. 72-75.
Low-Cost But Effective Research  Schindehutte, M. & Morris, M. H. & Pitt, L. (2008).  Rethinking Marketing . Upper Saddle River, NJ: Pearson. 77. Techniques That Tend to  Be More Qualitative Techniques That Tend to  Be More Quantitative  Natural Observation Survey Research ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Experimentation   In-depth Interviews ,[object Object],[object Object],[object Object],[object Object],[object Object],Projective Techniques  Archival Studies (Secondary Data)  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Schindehutte, M. & Morris, M. H. & Pitt, L. (2008).  Rethinking Marketing . Upper Saddle River, NJ: Pearson. 81.
EMBRACING THE ENTREPRENEURIAL RESEARCH PERSPECTIVE ,[object Object],[object Object],[object Object],[object Object],[object Object],Schindehutte, M. & Morris, M. H. & Pitt, L. (2008).  Rethinking Marketing . Upper Saddle River, NJ: Pearson. 82. “ Marketing Research Makes Possible the  Calculated  Part of Calculated Risk-Taking!”
[object Object],The more you read, the more you know. The more you know, the smarter you grow. The smarter you grow, the stronger your voice. When you speak your mind or make your choice .

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Chapter 3 4 (Re)Thinking Marketing2

  • 2. WHAT IS MARKETING STRATEGY?? The primary focus of marketing strategy is to effectively allocate and coordinate marketing resources and activities to accomplish the firm’s objectives within a specific product market. - Walker, Mullin, Boyd, Larreche
  • 3. EVOLVING VIEWS OF MARKETING’S ROLE a. Marketing as an equal function Finance Production Marketing Human resources
  • 4. EVOLVING VIEWS OF MARKETING’S ROLE
  • 5. EVOLVING VIEWS OF MARKETING’S ROLE e. The customer as the controlling function and marketing as the integrative function Customer Marketing Production Human Resources Finance
  • 7.
  • 8. STRATEGIC MANAGEMENT PROCESS From Kreitner Management 5E Strategic Management Process Kreitner Figure 7.2
  • 9. PORTER’S GENERIC COMPETITIVE STRATEGIES Michael Porter, 1984. Competitive Scope Competitive Advantage Narrow Target Broad Target Differentiation Lower Cost
  • 10. PORTER’S GENERIC COMPETITIVE STRATEGIES Competitive Scope Competitive Advantage Narrow Target Broad Target Differentiation Lower Cost
  • 12.
  • 13.
  • 14.
  • 16. ECONOMIC MODEL: HOW THE BUSINESS MAKES MONEY Morris, M., Schindehutte, M “Teaching Entrepreneurship Students the Concept of a Business Model” Operating Leverage : High/medium/low Revenue Sources : fixed/mixed/flexible Margins : high/medium/low THE ECONOMIC MODEL OF THE BUSINESS Volumes : high/medium/low
  • 17. THE CUSTOMER OF THE FUTURE Chapter 3 INNOVATE OR DIE: CREATING MARKETS AND LEADING CUSTOMERS
  • 18. THE PATHS THAT OFFERINGS CAN TAKE Schindehutte, M. & Morris, M. H. & Pitt, L. (2008). Rethinking Marketing . Upper Saddle River, NJ: Pearson. 46. An Offering Evolves Either by an… An Offering Evolves Either by an… An Offering Evolves Either by an… Extension New and Improved Subversion Use at Odds with Original Intention Diversion Change Use of the Offering Through Social Means Emersion Offering has a Primary Change Effect on People Aspersion Offering Produces Secondary (“side”) Effects
  • 19.
  • 20. FIRMS’ STANCES TOWARD CREATIVE CONSUMERS Active Passive Negative Positive Firm’s Actions Toward Creative Customers Firm’s Attitude Toward Creative Customers Schindehutte, M. & Morris, M. H. & Pitt, L. (2008). Rethinking Marketing . Upper Saddle River, NJ: Pearson. 57.
  • 21.
  • 22. DO THE DOGS LIKE THE DOG FOOD? ENTREPRENEURIAL MARKET RESEARCH Chapter 4
  • 23. MARKETING RESEARCH REVIEW The Set-Up The Measurement The Measurement The Management Decision Schindehutte, M. & Morris, M. H. & Pitt, L. (2008). Rethinking Marketing . Upper Saddle River, NJ: Pearson. 69.
  • 24. A BACKWARD APPROACH The Set-Up The Set-Up The Measurement The Management Decision Schindehutte, M. & Morris, M. H. & Pitt, L. (2008). Rethinking Marketing . Upper Saddle River, NJ: Pearson. 69.
  • 25.
  • 26.
  • 27. Schindehutte, M. & Morris, M. H. & Pitt, L. (2008). Rethinking Marketing . Upper Saddle River, NJ: Pearson. 81.
  • 28.
  • 29.