Professional Documents
Culture Documents
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Chapter One
Strategic Market Management-Introduction and Overview
2005 John Wiley & Sons
Copyright 2010John Wiley & Sons, Inc. All rights reserved. Reproduction or translation of this work beyond that permitted in Section 117 of the 1976 United States Copyright Act without the express written permission of the copyright owner is unlawful. Requests for further information should be addressed to the Permissions Department, John Wiley & Sons, Inc. The purchaser may make back-up copies for his/her own use only and not for distribution or resale. The Publisher assumes no responsibility for errors, omissions, or damages, caused by the use of these programs or from the use of the information contained herein.
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Even if you are on the right track, youll get run over if you just sit there. - Will Rodgers
2005 John Wiley & Sons
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If you dont know where you are going, you might end up somewhere else.
2005 John Wiley & Sons
- Casey Stengel
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Management Tasks
Strategic Analysis Innovation Multiple BusinessStrategies and Issues Creating SCAs Developing Growth Platforms
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A Business Strategy
2005 John Wiley & Sons
How to Compete
Value proposition Assets & competencies Function area strategies and programs
Figure 1.1 PPT 1-8
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New Products
New Markets
Figure 2.4
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Social
Self-Expressive
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Innovative offerings A shared passion for an activity or a product Global connections and prestige
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Strategic Asset:
A resource
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Is there a SCA?
Will the strategy have success in the future?
Does the strategy fit with the other strategies of the firm?
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External Analysis
Customer Analysis Competitor Analysis Market/submarket Analysis Environmental Analysis
Internal Analysis
Performance Analysis Determinants of strategic options
Aid strategic analysis and decision making. Provide a strategic management and control system. Provide both horizontal and vertical communication and coordination systems.
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Key Learnings
Strategy needs to succeed in a dynamic market. A business strategy includes the determination of the product-market scope and its dynamics (as reflected in the intensity of the business investment), the customer value proposition, assets and competencies, and functional strategies and programs. External analysis includes analyses of customers, competitors, markets, and the environment. Internal analysis includes a performance appraisal and an examination of organizational strengths, weaknesses, problems, constraints, and strategic options. The role of these analyses is to identify existing or emerging opportunities, threats, trends, strategic uncertainties, and strategic options. The marketing team needs to be a partner in strategy and by involved in overcoming silo barriers.
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Ancillary Slides
2005 John Wiley & Sons
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It isnt that they cant see the solution, its that they cant see the problem.
2005 John Wiley & Sons
- G. K. Chesterton
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Experience, to most men, is like the stern lights of a ship, which illuminate only the track it has passed.
2005 John Wiley & Sons
- Samuel Coleridge
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Strategy is a framework which guides those choices that determine the nature and direction of an organization.
-Benjamin B. Tregoe & John W. Zimmerman Top Management Strategy
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In terms of the three key players (competitors, customers, company) strategy is defined as the way in which a corporation endeavors to differentiate itself positively from its competitors, using its relative corporate strengths to better satisfy customer needs.
-Kenichi Ohmae The Mind of the Strategist
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- Peter Drucker
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Chapter 2
Customer Analysis
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Customer Analysis
Segmentation Customer Motivation Unmet needs
2005 John Wiley & Sons
(Group exercise: Pick a Company/Brand/Business on which to focus and answer the qns in the following slides. This Company/Brand/Business will continue for all group exercises for this trim)
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Segmentation
Who are the biggest customers?The most profitable? The most attractive potential customers? Do the customers fall into any logical groups based on needs, motivations or characteristics? How would the market be segmented into groups that would require a unique business strategy?
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Customer Motivations
What elements of the product/service do customers value most? What are the customers objectives?What are they really buying? How do segments differ in their motivation priorities? What changes are occurring in customer motivation? In customer priorities?
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Unmet needs
Why are some customers dissatisfied?Why are some changing brands or suppliers? What is the severity and incidence of consumer problems? What are unmet needs that customers can identify? Are there consumers unaware? Do these unmet needs represent leverage points for competition or a new business model?
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