Case Study Analysis- Marketing
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MAN3016: Marketing Strategy Lecture 2: Strategic Planning Process Dr Anastasios Siampos
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Purpose of marketing strategy
To set the direction of the organisation and decide what product/s & in which markets the firm should invest its resources
To define how it is to create value to customers
To describe how it is to perform marketing activities (4/7Ps) better than competition
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Strategic Fit
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Mission & Vision
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Mission & Vision
Mission Statement – Answers… “What business are we in?” – Clear and concise – Explains the organisation’s reason for existence
• Who are we? Who are our customers? What is our operating philosophy? What are our core competencies or competitive advantages? What are our responsibilities with respect to being a good steward of our human, financial, and environmental resources?
Vision Statement – Answers… “What do we want to become?” – Tends to be future oriented – Represents where the organization is headed
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The interrelationship between marketing and corporate strategy
Corporate Strategy
•Specifying the organisation’ mission •Allocation of resources across the whole organisation •Portfolio of activities for the organisation •Defining organisational objectives
Marketing Strategy
•Competing in a product market •Selecting market segments •Designing the mix
•Guides •Directs •Controls •Co-ordinates
•Informs •Achieves •operationalises
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The Marketing Strategy Process
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Where do we want to be? Strategic Decisions
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Product types in the portfolio
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Balancing the business portfolio
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Unbalanced
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Unbalanced
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SWOT
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SWOT Strategic Implications
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Strategic Focus
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Routes to competitive advantage
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Marketing Strategy – Two Perspectives
Marketing strategy at the functional level Ø Planning and controlling the marketing activities Ø Planning and implementing the 4Ps/7Ps Ø Management customer relationship
Marketing as a philosophy/orientation Ø Guiding the organisation’s overall activities Ø Playing a key role in the strategic management process (SMM)
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Marketing Plan
A written document that provides the blueprint or outline of the organization’s marketing activities, including the implementation, evaluation, and control of those activities
ü How the organization will achieve its goals and objectives ü Serves as a “road map” for implementing the marketing strategy ü Instructs employees as to their roles and functions ü Provides specifics regarding the allocation of resources, specific marketing
tasks, responsibilities of individuals, and the timing of marketing activities
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Thinking First
Cognitively analysing a strategic marketing problem & developing the solution (the strategy) through a carefully thought-out process
It can help to see the big picture occasionally throughout the process. It can involve some inspiration & insight, but largely the process is one of painstakingly doing your homework
West, D. C., et al. (2015). Strategic marketing: creating competitive advantage. Oxford, United Kingdom, Oxford University Press.
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Seeing First
Importance of seeing the overall decision is sometimes greater than thinking about it Insight often only comes after a period of preparation, incubation, illumination & verification in the cold light of day.
The 'eureka' moment
West, D. C., et al. (2015). Strategic marketing: creating competitive advantage. Oxford, United Kingdom, Oxford University Press.
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Doing First
(1) do something, (2) make sense of it (3) repeat the successful parts & discard the rest.
Many companies have successfully diversified their businesses by a process of figuring out what worked & what did not
Instead of marketing strategy – the reality is often that ‘doing’ drives
West, D. C., et al. (2015). Strategic marketing: creating competitive advantage. Oxford, United Kingdom, Oxford University Press.
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Simple Rules
How-to rules keeping managers organised to be able to seize opportunities
Boundary rules help managers to pick the best opportunities based geography, customers or technology
Priority rules are about allocating resources amongst competing opportunities
Timing rules relate to the rhythm of key strategic processes
Exit rules are about pulling out from past opportunities
West, D. C., et al. (2015). Strategic marketing: creating competitive advantage. Oxford, United Kingdom, Oxford University Press.
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Process and Temporality and the 4 Main Approaches to Competitive Marketing Strategy
SIMPLE RULES SEEING FIRST
DOING FIRST THINKING FIRST
Long-Term
Short-Term
Experiential Cognitive TE
M P
O R
A LI
TY PROCESS
West, D. C., et al. (2015). Strategic marketing: creating competitive advantage. Oxford, United Kingdom, Oxford University Press.
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What to Choose?
ü Thinking First/Market Orientation works best when the issues are clear, the data are reliable, the context is structured, thoughts can be pinned down & discipline can be applied
ü Seeing First works best when many elements have to be creatively applied, commitment to solutions is key & communications across boundaries are needed (e.g. in NPD)
ü Doing First or simple rules work best when the situation is novel & confusing, complicated specifications would get in the way & a few simple relationship rules can help move the process forward
West, D. C., et al. (2015). Strategic marketing: creating competitive advantage. Oxford, United Kingdom, Oxford University Press.
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Reading Resources Chapter 2: Hooley, G., Piercy, N. F., and Nicoulaud, B. (2017), Marketing Strategy & Competitive Positioning, Prentice Hall, 6th Edition.
Chapter 2: Ferrell, O. C. and Hartline M. D. (2014), Marketing Strategy, Cengage, 6th Edition.
Additional reference: West, D. C., et al. (2015). Strategic marketing: creating competitive advantage. Oxford, United Kingdom, Oxford University Press.
Dobni, C., and Luffman, G. (2000) Implementing marketing strategy through a market orientation. Journal of Marketing Management, 16(8), 895-916.
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Teaching Schedule Week Lectures Seminars
Week 1 - Introduction to the Module Case study analysis framework
Week 2 - Strategic marketing planning Example case study – Situation analysis
Week 3 - Competitive market analysis Example case study – Situation analysis
Week 4 - Understanding the organisational resource base - Competing through innovation
Example case study – SWOT analysis & problem identification
Week 5 - Segmentation, positioning, and selecting target markets Example case study – Alternative strategies
Week 6 - Creating competitive advantage Individual assignment Q&A
Week 7 - Competing through marketing mix Example case study – Implementation & control
Week 8 - Competing through superior service and customer relationships
Costs of customer loyalty
Week 9 - Strategy implementation and control Soft and hard control measures
Week 10 - Ethics and social responsibility in marketing strategy - Evolving topics in marketing strategy
Group discussion on CSR and crisis management
Week 11 - Module Revision Exam preparation Q&A
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Thank you! Any Questions?
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