StrategicMarketingStrategiesforGrowingCustomerValueand Profitability

JamiMoiz AppendixtoCourseoutline CourseContent: 1. Class1: Introductions..Classmechanics.Discussion:TheDeathofaBrand 2. Class2: BRANDSMUSTSTRIPDOWNTOACHIEVEIMPACTINANULTRA CONNECTED,HYPERCOMPETITIVEWORLD.DiscussionArticlefromOpinionsfrom DesignandBrandConsultants 3. Class3: DefiningMarketingsRoleintheCorporation thisintroductorysessionendeavorstoaccomplishanumberoftasks, including: a)toexaminetheworryinglossofinfluenceofmarketinginthe corporation, b)toappreciatetheimportantstrategicrolethatmarketing shouldplayacrosstheorganization,and c) to assess the forces that will further change the role of marketing in theforeseeablefuture Read:RolandRust,etal.,RevisitingMarketing,HarvardBusiness Review,JanFeb,2010. Chapters1&13,MarketersToolkit A. MarketOrientationandPerformance Thiscoursesegmentdemonstratestheconnectivitythatexistsbetweenmarketorientation, customersatisfaction,profitability,andmarketbasedmanagement. 4. Class4&5: CustomerFocusandManagingCustomerLoyaltyexaminesthe fundamentalcomponentsofamarketorientationandhoweachis relatedtocustomersatisfactionandretention.Wewillseethatastrong marketorientationisprimarilyintendedtoimproveabusinessschances forlongtermsurvival,butmarketingeffortstoimprovecustomer satisfactionandretentioncanalsoincreaseshortrunprofits. Read: MatthewDixonetal.,StoptryingtoDelightYourCustomers, HarvardBusinessReview,JulyAugust,2010 Chapter7,MarketersToolkit Case:WhoServestheCustomerBest?

5. Class6&7:MarketingPerformanceandMarketingProfitabilitymarketbased managementrequiresabusinesstousemarketingperformancemetrics tomeasureprofitsatthemarketlevelandtotrackavarietyofother marketrelatedperformanceindicators.Thisincludescalculatingthe profitimpactofalifetimecustomer. Read:VikasMitteletal.,TheRightWaytoManageUnprofitable Customers,HarvardBusinessReview,April.2008 Appendix:UsefulImplementationTools(FiguresA2, A3),MarketersToolkit Case:ConroysAcura B. MarketAnalysis Thisisanessentialinputtothedevelopmentofmarketbasedmanagementstrategiesthat deliversuperiorlevelsofcustomersatisfactionandprofitability.Thecontinuouspursuitof customerneeds,ongoingmonitoringofcompetitorsmovesandcapabilities,andtracking marketbasedperformancearethecorecompetenciesofamarketfocusedbusiness. 6. Class8&9: TheCustomerExperienceandValueCreation Analysisstartswiththedeterminationofmarketdefinition,marketpotential, marketdemand,andmarketgrowthopportunities.Inparticular,wewillfocuson customeranalysisandthediscoveryofbenefitsthatprovidesuperiorcustomer value. Read:DavidCourtetal.,TheConsumerDecisionJourney,McKinseyQuarterly, June,2009 Chapter3,MarketersToolkit Case:TruEarthHealthyFoods 7. Class10&11: MarketCustomization:Segmentation,TargetingandPositioning Wewilladdressneedsbasedmarketsegmentationandthe developmentofsegmentstrategies.Wewillfurtherdemonstratehow quantitativeanalysiscansupportastrategicmarketingdecisionby introducingasegmentationROS/ROItool. Read:MarianMooreandRichardHelstein,Positioning:TheEssenceof MarketingStrategy,DardenBusinessPublishing,March,2009 Chapter4,MarketersToolkit Case:OntelaPicDeck(A)

8. Class12&13:

CompetitorAnalysisandSourcesofAdvantage Focusherewillbeoncompetitoranalysis,competitivepositionandthe sourcesofcompetitiveadvantage.Acompetitiveadvantageenablesa businesstocreateasuperiorvalueforcustomersandsuperiorprofitsfor itself. Read:KevinCoyneandJohnHorn,PredictingYourCompetitors Reaction,HarvardBusinessReview,April,2009. Chapter5,MarketersToolkit Case:HarringtonCollection

C. MarketingMixStrategies Yourmarketingmixmeansthecombinationofpromotions,products,places(distribution channels),andpricesyouchoseforyourbusiness.Includingbothshortandlongterm strategiesinthemarketingmixcanmakeforamoreprofitablebusiness.Becausethesetopics arecoveredextensivelyinotherMarketingcourses,thisbriefmodulewillconcentrateontaking anintegrative,strategicview. 9. Class14&15: ProductPositioning,BrandingandProductLineStrategies Wewillstartwiththequestionsofbrandingandbrandmanagement anditslinkwithproductpositioninganddifferentiation.Wewillthen loopbackandconsiderthemeritsofbrandvs.customerequity Read:DominiqueHanssensetal.,MarketingWhenCustomerEquity Matters,HarvardBusinessReview,May,2008. Chapter6,MarketersToolkit Case:Metabical:PositioningandCommunicationsStrategyforaNew WeightLossDrug. 10. Class16&17: MarketingSimulation:ManagingSegmentsandCustomers Inthissegmentyouwilldetermineallaspectsofthecompanysgoto marketapproachandassociatedelementsofproductpolicy,including pricingandmarketpositioningofthecompanysproductlinetoboth smallandlargevolumecustomers. Read:JamesAndersonetal.,CustomerValuePropositionsinBusiness Markets,HarvardBusinessReview,March,2006. Browse:Chapters8,9and10,MarketersToolkit Case:HoldingFast

D.StrategicMarketing Strategicmarketplanningsetsthelongrundirectionforabusinessandhasamajorrolein realizingthebusinesssobjectivesofsalesgrowth,profitperformance,andsharepositionover time. 11. Class18&19: 12. Class20&21: ProductPortfolioandStrategicMarketPlanning usingthetwodimensionsofmarketattractivenessandthebusinesss competitivepositionwecandevelopamethodforbuildingastrategic marketplanningportfoliothatcoversabusinesssexistingandpotential productmarkets. Read:GeorgeDay,IsitReal?CanWewin?IsitWorthDoing?Managing RiskandRewardinanInnovationPortfolio,HarvardBusinessReview, December,2007. Case:ProductPortfolioPlanningatEstoniasSakuBrewery OffensiveandDefensiveMarketStrategies Thestrategicmarketplansgeneratedbytheportfolioanalysiscanbe eitheroffensiveordefensive.Offensivestrategicmarketplansare growthorientedplanstospursharepenetrationormarketgrowth,orto prepareforentryintonew,emerging,orgrowingmarkets.Thepurpose ofdefensivestrategicmarketplansistoprotectmarketpositionsand profitability. Read:MehrdadBaghaietal.,IsYourGrowthStrategyFlyingBlind? HarvardBusinessReview,May,2009. Case:MountainManBrewingCompany

E.MarketingPlansandPerformance Givenaspecificmarketplanandperformanceobjectives,amarketingmixstrategy andmarketingplanmustbedevelopedandsuccessfullyimplementedinordertomove abusinesstowardsitsplannedperformanceobjectives. BuildingaMarketingPlan 13. Class22&23: presentsaprocessandstructurefordevelopingamarketingplan Read:TimCalkins,NoteonWritingGreatMarketingPlans,Kellogg SchoolofManagement,2006 Chapter2,MarketersToolkit Case:MarketingPlanatJustUs!Cafes

14. Class24&25:

15. Class2628:

PerformanceMetricsandStrategyImplementation Addressesimplementationofthemarketingplanandthevariousforces thataffectthesuccessorfailureofthisplan.Forexample, ownership,commitment,performancemeasurement,adaptation,and resourceallocationareimportantaspectsofsuccessfulmarketbased planimplementation. Read:DavidCourtetal.,ProfitingfromProliferation,McKinsey Quarterly,June,2006. Case:OldHandorNewBlood? PresentationofStrategicMarketPlansandCourseWrapUp Read:BethComstocketal.,UnleashingthePowerofMarketing, HarvardBusinessReview,October2010.