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3 MARKETING STRATEGY - INTRODUCTION At the end of this module the learning outcomes are: 1.Concepts of corporate and marketing strategy 2.Importance of marketing strategy 3.Scope and activities of marketing strategy
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Marketing Strategy
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MARKETING STRATEGY - INTRODUCTION
At the end of this module the learning outcomes are:
1. Concepts of corporate and marketing strategy
2. Importance of marketing strategy3. Scope and activities of marketing strategy
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SUGGESTED READINGS1. Strategic Marketing
byDavid CravensChapter 1 to 4
2. Strategic Marketing by
Wilson & GilliganChapter 1 and 2
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So , Marketing is …
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WHAT IS BUSINESS STRATEGY
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WHAT IS BUSINESS STRATEGY
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In other words • Strategy is the means an organization uses to
achieve its objectives • Strategy implements management’s concept of
• Business scope • Mission• Objectives
• Management’s skills and vision in addressing these issues are critical to performance of the corporation
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Let’s study the Marketing Strategy of
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Steps we learnt from Unilever
• What type of business should we be in?• Which market segments to attack?• What time frame?• Should we be market leaders?• Mass markets versus niche markets?• If we have many businesses how should resources be
allocated?• Of the various alternatives, which will produce the greatest
returns?. Many more issues confront an organization!
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LEFT-HANDED AND RIGHT-HANDED ORGANIZATIONS
LEFT-HANDEDFinancially drivenPlanning of expenses, debt, salesWhen sales slip, tendency to cut expenses to
boost profitsTypically with British and US organizations
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LEFT-HANDED AND RIGHT-HANDED ORGANIZATIONS
RIGHT-HANDED• Market-driven organizations• Primary objective of satisfying customers• Business decisions flow back from an
understanding of customer rather than from a financial requirement
• Typically with Japanese organizations• Increasing shift towards right-handed approach
Recommended texts • Strategic Market Management 9th ed. by David A. Aaker; published by
Wiley• Baines / Fill / (2008) Marketing. Oxford (with online content)• Brassington & Pettitt (2008) Principles of Marketing. Prentice Hall (4th
Ed)• Lovelock, C, Wirtz, J Services Marketing (6th Edition) Pearson Prentice
Hall• Palmer, A Principles of Service marketing (5th Edition) McGraw Hill• Wilson, A (2008), Services Marketing, McGraw Hill, European Edition• Kapferer &Bastien, The Luxury Strategy Kogan, 2010• Keller, K Strategic Brand Management (3rd Edition) Pearson• Kapferer, J The New Strategic Brand management (4th Edition) Kogan
Page• Lincoln &Thomassen, Private Label, Kogan Page 2009 Marketing
Management• Marketing Management – Mullins, Walker , Boyd , McGraw Hill (6th
Edition), Business Strategy (general)• Johnson Whittington & Scholes, Grant, Exploring Corporate Strategy (all
editions)
Next Class?
• Get the recommended Text
• Get all the class “necessities” • Visit Web portal to download lectures
& notes
• For queries: [email protected]
