Case Study Analysis- Marketing

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10/02/2020

MAN3106 Marketing Strategy Module Objectives & Structure Introduction to Marketing Strategy

Hello! Nima Heirati

Associate Professor in Marketing Research: Innovation Strategy, Service Marketing, Business Relationships, and Customer Experience

e.g., Organizational ambidexterity, Innovation strategy in emerging economies, Dark side of business relationships, Servitization

Anastasios Siampos Senior Teaching Fellow in Marketing Research areas: Marketing strategy, Entrepreneurship

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Aims/Objectives

By the end of this session, you will be able to:

§ Identify the module learning objective

§ Why does this module matter?

§ Reading resources

§ Comprehend the teaching style, students’ responsibilities, and assessment criteria

What is this module about?

Founded in 2008 191+ countries 100k+ cities 500m guest arrivals approx. $30 billion value

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What is this module about?

Founded in 1706 115 countries 198 blends of teas approx. 7 billion cups/year

What is this module about?

Marketing strategy

… is a market-driven process of strategy development and considers a constantly

changing business environment and the need to deliver superior customer value. It

is focused on increasing organisational performance, links the organisation with the

environment, and conceives marketing as a responsibility of the entire business

rather than a specialised function (Cravens & Piercy 2013).

… has the fundamental goal of increasing sales and achieving a sustainable

competitive advantage (Ferrell & Hartline 2014).

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Why does it matter?

§ It is interesting Strategic marketing builds on insights from various disciplines including psychology, sociology, economics, etc.

§ It is challenging Strategic marketing requires consideration of a wide range of factors. These factors interact and they are subject to change.

§ It is important Strategic marketing is concerned with how organisations create, communicate, deliver, and capture value and, as such, has important performance implications.

Knowledge & Learning Outcomes

By the end of this module, students should: § Synthesise knowledge of marketing strategy and apply concepts to case

studies. § Accurately identify and apply relevant theory within different contexts § Critically evaluate various marketing approaches and application of

strategy within a specific context § Identify and analyse marketing problems through the use of case studies § Understand the use of a Strategic Marketing Plan § Organise and communicate ideas clearly

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Teaching Pattern

11 weeks of two-hour lectures § The basic concepts and theories of the textbook will be introduced, in addition to

the materials that go beyond the textbook and are relevant for the exam. 11 weeks of one-hour seminars § Students will be assigned to a seminar group via timetable automatically. § Seminars intend to ensure a comprehensive understanding of the topic area and

to make sure that students are be able to detect and transfer learned concepts to practice.

Students are in control of their learning in this module § To take most advantages of each class, you must be prepared § Students are expected to participate actively and positively in the

teaching/learning environment

Learning Resources

Essential Reading § Hooley, G., Piercy, N., and Nicoulaud, B. (2017), Marketing Strategy & Competitive

Positioning, Prentice Hall, 6th Edition. § Hooley, G., Nicoulaud, B., Rudd, J., and Lee, N. (2020), Marketing Strategy &

Competitive Positioning, Prentice Hall, 7th Edition.

Complementary learning resources § Ferrell, O., and Hartline M. D. (2014), Marketing Strategy, Cengage, 6th Edition. § Lynch, R. (2018) Strategic Management, Pearson, 8th Edition. § McDonald, M., and Wilson, H. (2016). Marketing Plans: How to prepare them, how

to profit from them. John Wiley & Sons, 8th Edition. § Apart from textbooks, students will find it valuable to get into the practice of

reading relevant articles from academic journals, magazines, and websites.

Surrey Learn § The lecture notes, PowerPoint slides, details of assessments and other information,

together with important announcements, will be available on Surrey Learn.

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Assessment

Coursework 50%. Each student should analyse a case study following the framework and guidelines provided through lectures and seminars (MAXIMUM 1500 words). § This case study analysis report will allow students to go beyond what was learned in

class and learn how to develop marketing strategies for a real-world case study. Exam 50%. Closed book exam (duration 120 minutes) based on a case study provided in advance of the examination. Students will be given a case study in Week 10 via SurreyLearn. At the end of the case study, FOUR essay questions will be provided. § You cannot bring your own case study in the exam. During the exam, you will be given

a new but identical copy of the case study along with FOUR questions. Out of the FOUR questions, you will have to answer TWO questions (50% each). You must answer the questions based on the information on the case study (i.e., not further search or market stats is required).

Type Weighting Details Due Date Coursework 50% 1500 words individual assignment 23rd March 2020

Exam 50% 2-hour closed book exam Examination period

Plan for Seminars Week 1-7

Seminars intend to ensure a comprehensive understanding of the topic area and to make sure that students are able to apply learned concepts to practice. Preparation and active participation in seminars will be expected. § Student will have the opportunity to practice analysing an example case

study during Weeks 1 to 7. § Please print and review “CASE STUDY 10.3: Global ice cream wars” from

Lynch, R. (2018) Strategic Management, Pearson, 8th Edition – pp. 351-355. § Students have online access to this textbook via the university library website

§ Students will be given a different case study for the individual assignment in Week 3 via SurreyLearn.

§ Students will be given a different case study for the exam in Week 9 via SurreyLearn.

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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

Introduction to Marketing Strategy

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Main Topics

1. Basic concepts and framework § Markets and exchange § The strategic triangle and competitive advantage

2. Marketing in today’s economy 3. Component and context of market orientation 4. The role of marketing in the organisation

Market, exchange, and product

What is a market? § Collection of buyers (e.g. consumers, private households) and sellers (e.g. firms,

institutions) § A space where supply meets demand

Considers physical marketplaces (e.g. traditional farmer’s market) Considers virtual marketspaces (e.g. online retail platforms)

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Market, exchange, and product

What is exchange? § The process of obtaining something of value from someone by offering something

in return – Five conditions: § There must be at least two actors to the exchange § Each actor has something of value to the other actor § Each actor must be capable of communication and delivery § Each actor must be free to accept or reject the exchange § Each actor believes that it is desirable to exchange with the other actor

The strategic triangle and competitive advantage

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Increasing customer power is a continuing challenge to marketers in today’s economy. In what ways have

you personally experienced this shift in power; either as a customer or as a business person? Is this power shift

uniform across industries and markets? How so?

Marketing in Today’s Economy

All organisations require effective planning and a sound marketing strategy to achieve their goals and objectives Today’s Economy: § Most of industries are becoming mature, where slowing innovation, extensive

product assortment, excess supply, and frugal consumers force margins to the floor

§ Today’s economy is characterised by rapid technological change, economic anxiety, and increasing consumer scepticism

Is there any key technological difference?

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Major Challenges vs Opportunities

Power shift to customers – e.g. Amazon empowers searching for the best deal

Massive increase in product selection – e.g. Car Industry Audience and media fragmentation – e.g. Customer can find next offer in one click – Social media influences consumer behaviour

Changing value propositions & demand pattern – e.g. digital vs printed books Privacy, security, and ethical concerns Globalisation

Change in Daily Media Usage by U.S. Adults, 2008-2011

Components and context of market orientation

§ Market Orientation is a philosophy of decision making focused on customer needs

§ Market Orientation represents the set of organisational-wide behaviour that enables a firm to generate and disseminate market intelligence among its employees and to utilise market intelligence to respond to customer needs § Decisions grounded in analysis of the target customers

§ Result: § Developing new products/service that

customers are looking for § Increased creativity § Improved new product performance

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Components and context of market orientation

Customers do not want a 1/4“ drill, they want to hang a picture on the wall! § Value Matters: Innovation Has Direction

5’ 12’’: Value Matters: Innovation Has Direction

Customer/Value DrivenProduct Driven

Components and context of market orientation

Marketing and performance outcomes

https://www.youtube.com/watch%3Fv=-se_wEJ_KM4

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Different Market Orientation Approaches

Responsive vs. Proactive Market Orientation

Customers Focus

Proactive MO

Responsive MO

Expressed customer needs

Current competitive threats

Latent and future customer needs

Anticipated competitive threats

Competitors Focus

Assessing a Firm’s Market Orientation ¨ Responsive Market Intelligence Generation (Rank 1 to 7) § This firm continuously works to better understand of our customers’ needs. § This firm pays close attention to after-sales service. § This firm measures customer satisfaction systematically and frequently. § This firm wants customers to think of us as allies. § Employees throughout the organisation share information concerning competitors’ activities. § Top management regularly discusses competitor’s strengths and weaknesses. § This firm tracks the performance of key competitors. § This firm evaluates the strengths and weaknesses of key competitors.

¨ Proactive Market Intelligence Generation (Rank 1 to 7) § This firm continuously tries to discover additional needs of our customers of which they are unaware. § This firm incorporates solutions to unarticulated customer needs in its new products and services. § This firm brainstorms about how customers’ needs will evolve. § This firm works with lead users, customers who face needs that eventually will be in the market. § This firm tries to anticipate the future moves of our competitors. § This firm monitors firms competing in related product/markets. § This firm monitors firms using related technologies. § This firm monitors firms already targeting our prime market segment but with unrelated products.

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The role of marketing in the organisation

It is argued that marketing possesses very few rules for choosing the

appropriate marketing activities. Can you describe any universal rules of marketing that might be

applied to most products, markets, customers, and situations?

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The Challenges of Marketing Strategy

§ Unending Change § People-Driven Nature of Marketing § Lack of Rules for Choosing Marketing Activities § Increasing Customer Expectations § Declining Customer Satisfaction and Brand Loyalty § Competing in Mature Markets

§ Increasing commoditisation § Little real differentiation among product offerings

§ Aggressive Cost-Cutting Measures

Reality in Many Organisations

The End. Have Fun!

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Reading Resources

Chapter 1: Hooley, G., Piercy, N. F., and Nicoulaud, B. (2017), Marketing Strategy & Competitive Positioning, Prentice Hall, 6th Edition.

Chapter 1: Ferrell, O. C. and Hartline M. D. (2014), Marketing Strategy, Cengage, 6th Edition.

Kotler, P. (2011). Reinventing marketing to manage the environmental imperative. Journal of Marketing, 75(4), 132-135.

Morgan, N. A. (2012). Marketing and business performance. Journal of the Academy of Marketing Science, 40(1), 102-119.

Varadarajan, R. (2010). Strategic marketing and marketing strategy: Domain, definition, fundamental issues and foundational premises. Journal of the Academy of Marketing Science, 38(2), 119-140.

Teaching Schedule

Week Lectures Seminars

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