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8/17/2019 SM (BB) Lecture 01 (Introduction + Overview - Extract 1 & 2)
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Strategic MarketingLecture 1
The Changing World of Marketing &Strategic Thinking and Strategic Decision-Making
Michael Baird
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Text Reed, P., Jain, S.C., Haley, G.T., Voola, R., Wickham, M.,
Ferrell, O.C. & Hartline, M. !"#$%. Strategic Marketing.Soth Mel'orne, Victoria( Cen)a)e *earnin).
e+ook aaila'le - htt/(00111.cen)a)e'rain.com.a0/ho0i/'n0234"#3"5637$$
Thi/ te8t i/ a com'ination o9 three other te8t 'ook/( Jain, S.C., Haley, G.T., Voola, R. & Wickham, M. !"#!%.
Marketing Planning and Strategy. Soth Mel'orne,Victoria( Cen)a)e *earnin).
Reed, P. !"#$%. Strategic Marketing: Decision Making andPlanning. Soth Mel'orne, Victoria( Cen)a)e *earnin).
Ferrell, O.C. & Hartline, M. !"#7%. Marketing Strategy: Textand Cases. Ma/on, Ohio( Cen)a)e *earnin).
https://www.cengagebrain.com.au/shop/isbn/9780170367455https://www.cengagebrain.com.au/shop/isbn/9780170367455https://www.cengagebrain.com.au/shop/isbn/9780170367455https://www.cengagebrain.com.au/shop/isbn/9780170367455
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The Changing World of Marketing :o or)ani;ation can aoid comin) to )ri/ 1ith the raidly
eolin) 'ehaior o9 con/mer/ and '/ine// c/tomer/. They check rice/ at a key/troke and are increa/in)ly/electie a'ot 1hich 'rand/ /hare their lie/. They 9ormimre//ion/ 9rom eery enconter and o/t 1itherin)online reie1/ < the/e chan)e/ re/ent /i)ni=cantor)ani;ational challen)e/, a/ 1ell a/ oortnitie/. The'i))e/t i/ that all o9 / hae 'ecome marketer/( thecritical moment/ o9 interaction, or toch oint/, 'et1eencomanie/ and c/tomer/ are increa/in)ly /read acro//di>erent art/ o9 the or)ani;ation, /o c/tomer
en)a)ement i/ no1 eeryone?/ re/on/i'ility. Tom French, *ara *a+er)e and Pal Ma)ill
@Fie no re)ret/ moe/ 9or /erior c/tomer en)a)ement?,McAin/ey Barterly, Jly !"#!, . #
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The Evolution of Marketing Thoughtand Practice
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Marketing Thought and Practice- The marketing management school of thought(1950s-late 1980s)
The marketingconcept
•Drcker #2$7%,McAitterick #2$3%, *eitt
#26"%, Aeith #26"%,McCarthy #26"E%, Aotler#263E%
New concepts•Marketin) mi8 7P/#26"E%•Con/mer 'ehaior
The practice of marketing•/ta'li/hment o9 marketin)deartment/•Marketin) re/on/i'le 9oraderti/in), /ale/ and marketre/earch•Marketin) a/ a )eneral
mana)ement re/on/i'ility•
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Marketing Thought and Practice- The marketing management school of thought(1950s-late 1980s)
• Marketin) i/ theer9ormance o9 '/ine//actiitie/ 1hich direct theo1 o9 )ood/ and/erice/ 9rom rodcer tocon/mer or /er in order
to /ati/9y c/tomer/ andaccomli/h thecomany?/ o'ectie/.
.J. McCarthy & W.D. Perrealt,
#26"
Marketin) i/ hmanactiity directed at/ati/9yin) need/ and1ant/ thro)he8chan)e roce//e/.
Aotler, #263
Prevailing denitions ofmarketing
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Marketing Thought and Practice- Marketing as an integrated organisational process(late 1980s-2000s)
Marketing concepts andpractices
•C/tomer /erice•C/tomer /ati/9actionmea/rement CSM%
•Serice/ marketin)•Relation/hi mana)ement•C/tomer relation/himana)ement CRM%•+rand eIity
•C/tomer li9etime ale C*V%•C/tomer eIity•Marketin) acconta'ility
rganisation!wideconcepts and practices• Total Iality mana)ementTBM%• J/t-in-time JT%
•Strate)ic alliance/ andnet1ork/•Or)ani/ational cltre•Or)ani/ational chan)e•Strate)ic lannin) K
mana)ement•Concet o9 cometitieadanta)e•Concet o9 the ale chain•Cororate /ocial re/on/i'ility•Stakeholder theory
Market orientation
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Marketing Thought and Practice- Marketing as an integrated organisational process(late 1980s-2000s)
The prevailing denition of marketing
Marketin) i/ the roce// o9 lannin) ande8ectin) the concetion, ricin),romotion, and di/tri'tion o9 )ood/,/erice/, and idea/ to create e8chan)e
roce//e/ 1ith tar)et )ro/ that /ati/9yc/tomer and or)ani;ational o'ectie/.
Lmerican Marketin) L//ociation, #247
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The digital era(2000s – current)
From We'-a/-an-in9ormation /orce We' #."%to We'-a/-a articiatory lat9orm We' !."%
L cataly/t 9or di/rtie innoation
Shi9t 9rom c/tomer /ati/9action to enhancin)
the c/tomer e8erience and c/tomeren)a)ement
Reco)nition o9 imortance o9 identi9yin)
c/tomer tochoint/ L /hi9t 9rom de/kto/ to mo'ile deice/ and
clod /tora)e
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The new marketing paradigm – customer value creation, communication and delivery
L call 9or chan)e in marketin) thinkin)( L /hi9t9rom the e8chan)e0marketin) mi8 aradi)m toc/tomer ale creation. Drien 'y(
New
concepts"paradigms•Relation/hi marketin)#24"/E•Serice/ marketin) #24"E•Market orientation #22"/E•Co-creation !"""/E
Tho#ght leaders
For e8amle(•We'/ter #22!•Woodr> #223•Slater #223
The digital revol#tion•We' #." We' !."•C/tomer en)a)ement•C/tomer tochoint/
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AMA’s Definitions of Marketing The transformation in marketing thinking can $e
seen in the %M%&s denitions of marketing '(() and'((*
Marketin) i/ an or)ani/ational 9nction and a /et o9roce//e/ 9or creatin), commnicatin) and delierin) aleto c/tomer/ and 9or mana)in) c/tomer relation/hi/ in1ay/ that 'ene=t the or)ani/ation and it/ /takeholder/. Setem'er !""7
Marketin) i/ the actiity, /et o9 in/tittion/, and roce//e/
9or creatin), commnicatin), delierin), and e8chan)in)o>erin)/ that hae ale 9or c/tomer/, client/, artner/and /ociety at lar)e. Octo'er !""3
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What is Strategic Marketing? (cont’d)
De=nition ! L market-drien roce// o9 /trate)y deeloment
that take/ into accont a con/tantly chan)in)'/ine// enironment and the need to delier/erior c/tomer ale.
Craen/ and Piercy !""5%
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What is Strategic Marketing? (cont’d)
De=nition 5 /in) it/ relatie cororate /tren)th/ to achiee
ma8imm o/itie di>erentiation oer cometitionin meetin) c/tomer need/
Jain and Haley !""2%
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+, -ts a$o#t M%./0T-N1 Ho1 to )o a'ot roidin) s#perior val#e to
yor tar)et market
', -ts a$o#t ST.%T01-0S Deeloin) specialised tools to roactiely
)enerate tar)eted chan)e.
2, %nd its a$o#t P3%NN-N1 Makin) deci/ion/ today a'ot 'ein) e>ectie
and /cce//9l tomorrow.
What is Strategic Marketing? (cont’d)
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Strategic thinking , , , is a$o#tsynthesis, -t involves int#itionand creativity,
4enry Mint5$erg
H. Mint;'er), @The 9all and ri/e o9/trate)ic lannin)?, Harard +/ine//Reie1, JanaryKFe'rary #227, . #"4.
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6ltimately Strategic Marketingis all a$o#t $eing smarter than
yo#r competition
7and learning how to do this8
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Strategy Planning
Strate)y lannin) i/ a roce// that em'race/t1o /earate, 't related, actiitie/(
strategy formation K decidin) 1hat to do
planning K decidin) ho1 to do it
That i/, lannin) i/ all a'ot ro)rammin)/trate)ie/ and then ela'oratin) andoerationali/in) their con/eIence/
Strate)y i/ the /tartin) oint o9 lannin).Plannin) hel/ to tran/late intended/trate)ie/ into reali/ed /trate)ie/
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Marketing Decision Making
Marketin) /trate)ie/ may 'e deeloed a/(
a art o9 a 'roader 'a/ed 9ormal /trate)iclannin) roce//
a art o9 a 'roader 'a/ed /et o9 /trate)ydeli'eration/ made ot/ide o9 9ormal /trate)ylannin) roce//e/
a 9ormal /trate)ic marketin) lannin) roce// marketin) /trate)y recommendation/ made
ot/ide o9 9ormal roce//e/
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What does Strategic Marketing involve?
Collectin) in9ormation Primary, /econdary a'ot 5C/ a/ 1ell a/ PST*enironment
Lnaly/in) in9ormation Dee nder/tandin)
denti9yin) oortnitie/ and i//e/ /in) analytical model/ and tool/
Llyin) creatiity De/ira'le, Di>erentiated and De9en/i'le
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Llyin) lannin) /kill/ and in9ormational int/
L//e//in) ind/try and cometitie trend/
Llyin) 9ore/i)ht and creatiity
Proectin) market niche/ and market /hareo//i'ilitie/
/in) analytical model/ and tool/ to ealate The internal and e8ternal /itation
Llternatie otential /trate)ie/ to achiee de/iredmarket o/itionin)
What does Strategic Marketing involve?
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Characteristics of Strategic Marketing
mha/i/ on lon)-term imlication/ 0 N'i) ictre
Cometin) 9or cororate re/orce/ to achieecororate o'ectie/ 'y the oeration/ o9 aarticlar '/ine// nit
Varyin) role/ 9or di>erent rodct/ and market/ K:OT all tryin) to make 'cket/ o9 money orma8imi/e /ale/
S/taina'le cometitie adanta)e
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Marketing’s role in the organisation
Strategic Marketing is foc#sed at theS96 levelOr)ani/ational *eel Formal :ame Foc/
Cororatee.). BL:TLS
Cororate Marketin) Cororate i//e/•Why are 1e here
•What do 1e 1ant•Ho1 do 1e do thi/
Strate)ic +/ine//nite.). n-i)htcaterin)%
Strate)ic Marketin) n/rin) on)oin)oerall /cce// o9 anS+ in meetin) the)oal/ o9 thecororation
Prodct0markete.). conomy cla//meal/, Fir/t cla//meal/%
Marketin)Mana)ement
Formlate marketin)ro)ram/ 9or /eci=crodct/
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Focus of Strategic Marketing
+, Corporate 3evel Mana)ement o9 the entire /ectrm o9 '/ine//e/ Re/orce allocation, acIi/ition/, mer)er/
', Strategic 9#siness 6nit 3evel oc#s on 2Cs: c#stomer; competition;
corporation Where to comete Ho1 to comete When to comete
2, #nctional 7individ#al prod#ct8 level Marketin) mana)ement Seci=c de/i)n o9 rodct, ad camai)n etc< # K year lan
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The Strategic Business Unit (SBU)
De=nition( L nit comri/in) one or more rodct/ hain) acommon market 'a/e 1ho mana)er ha/ comletere/on/i'ility 9or inte)ratin) all 9nction/ into a/trate)y a)ain/t an identi=a'le cometitor.
8amle( BL:TLS /tarted ot a/ an Ot'ack airline/ericin) Been/land and :orthern Territory. 8anded into a national and then an international airline. 8anded into other area/ 1here they 'elieed they cold oerate
/cce//9lly.
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Why break up a company into SBUs? Maor ro'lem/ ari/e 1hen tryin) to treat di/tinct '/ine//e/
in the /ame 1ay.
What i/ reIired 9or /cce// in one '/ine// i/ ery di>erentto 1hat i/ reIired 9or /cce// in another '/ine//.
+/ine//e/ need to e8and into ne1 area/ to kee )ro1in).
Di>erent critical /cce// 9actor/, di>erent /trate)ie/ reIired9or /cce//, /o need to 'e treated di>erently.
nrea/ona'le to e8ect any one er/on to hae thi/ in-deth
kno1led)e, and to kee to date in all area/ K yet thi/ i/1hat i/ reIired nle// yo /lit a '/ine// into S+/.
+y 9oc//in) on one area, yo can do it 1ell. Try and do toomch, and yo don?t end doin) anythin) 1ell.
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How do we identify SBUs?
9reaking an organisation down intoits S96s
#. niIe '/ine// mi//ion K 1hy it e8i/t/ i/di>erent to other S+/
!. Clearly de=na'le /et o9 cometitor/5. S+ Mana)er ha/ atonomy 0 athority oer
re/orce/ in other area/
7. Comete/ 1ith other S+/ 1ithin the
or)ani/ation 9or re/orce/ 'a/ed on theirre/ectie a'ilitie/ to achiee thecororation?/ o'ectie/
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Summary: Strategic Marketing differs fromMarketing Management
5C?/ not 7P?/
Time9rame - lon)er term
Ceteris Paribus all thin)/ 'ein) eIal or held
con/tant% a//mtion a'andoned
Or)ani/ational 'ehaior 0 inte)ration i/ the key
Creatiity and ori)inality :OT e8erience 0 control
Proactie and 9or1ard-9oc//ed
Workin) on the '/ine// :OT in the '/ine//
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Overview of the Unit Strate)ic Marketin) i/ all a'ot lookin) ot 9rom the comany at
it/ enironment L comany /hold ma8imi/e the eek * ! ++8 foc#ses on how to get fromwhere it is now to where it wants to $e A what strategiesto #se and iss#es to $e aware of to generate this change,
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Unit Assessment Structure
To develop an eBective Strategic Marketing Plan; yo# m#st:
+8 9e a$le to search for and locate the necessary information7i,e, cond#ct secondary research8
'8 $tain this information and comm#nicate it to others
28 %nalyse this information and present it so that others canalso see the key patterns and exceptions within theinformation A what the information act#ally means for theclient,
)8 9ased on this come #p with the key changes 7i,e,strategies8 that yo#r client m#st make to $e s#ccessf#l inthe f#t#re,
Task Value % Date Due (BENTLEY Campus)Unit Learning Outcome(s)
AssesseCase Study Analysis(Individual)
20 5:00pm Friday, 1 May 2015 3, 5
Stratei! Mar"etin #lan($r%up)
30 5:00pm Friday, 15 May 2015 2, &, 5
Stratei! Mar"etin #lan#resentati%n (Individual)
10 'itin ut%rial 1, &, 5
Final *+aminati%n(Individual) &0 *+aminati%n #eri%d 1, 3, 5
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Other matters
*ectre note/ on +lack'oard
nit Otline on +lack'oard
Good Luck!
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The End