strategic marketing course lectures 1

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Module: Strategic MarketingInstructor: Bilal Ahmad

LECTURE: IntroductionAims and ObjectivesStrategic MarketingRole of Strategic Marketing

Introduction

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• bilal.ahmad@szabist-isb.edu.pk

• MS Faculty hall 2nd Floor

• Office: 051-4863363-510

Contact details

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• Physical and mental attendance is mandatory

– Learning & Good grades -- Failure

• Participation during discussion session

– Extra Points

• Mobile phone strictly Prohibited --- Negative marking

• Zero Tolerance to Plagiarism (Be yourself)

– Consult Szabist Plagiarism Policy

Be Productive

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• Interactive lectures (lecture slide and

Videos)

• Case studies

• Discussion and team activities

• Semester Project

Teaching Methodology

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Aims

– To become familiar with Strategic marketing processes

– Able to integrate theory and practice of Strategic Marketing

• To understand the key factors of Strategic Marketing

• To Understand effectiveness of Strategic marketing processes (Modern world)

• Experience-based learning to develop the necessary Strategic Marketing knowledge and skills among students

Aims and objectives

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• Objectives are…

– To apply principles and concepts used for strategic

marketing

– Aware of complex nature and environment for strategic

marketing

– Understanding of conceptual and organizational

aspects of Strategic marketing

– Connect and integrate Strategic Marketing concepts to

analyze and solve marketing issues (Decision making)

Aims and Objectives

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• Introduction with Strategic Marketing

• Familiarity with challenges of market driven

strategy

• Understanding of relation between

corporate, business and marketing strategy

• Challenges of new era (Modern Business

world)

Learning Outcomes

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• The term "Marketing" is widely misunderstood.

Producing TV advertisements", "writing catch

phrases", "producing brochures", "a conspiracy to

make people buy more than they need",

"improving brand awareness", "fancy packaging",

or "sponsoring the Olympics". In fact these are all

part of Marketing, but only a small part.

Strategic Marketing

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• "Marketing is the management process responsible for identifying,

anticipating, and satisfying customers' requirements,

profitably." Chartered Institute of Marketing.

• The marketing guru Philip Kotler defines the Marketing Concept as:

•

"The marketing concept holds that the key to achieving

organizational goals consists in determining the needs and wants of

target markets and delivering the desired satisfactions more

effectively and efficiently than competitors"

Theoratical view

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• Kotler breaks down into four components; Market Focus,

Customer Orientation, Coordinated Marketing and,

Profitability.

• Some alternative definitions of the Marketing Concept

include:

"Your business will perform better, if you know what

people want in the first place." Anon.

(http://www.ingirum.co.uk/strategic_marketing.htm)

Theoratical view

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• Frequent Market changes

• Demand Status

• Intense Competition (Micro Environment)

• Shift of Power (firms to Consumers)

• Macro environment

Modern World Challenges

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– Examples include:

Dell Inc.

Southwest Airlines

Tesco

Tiffany & Co.

Wal-Mart

Zara

Market Driven Startegies

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• Becoming Market Oriented

• Becoming Market Driven

• Cross functional Coordination

• Performance implications

• Competitor Intelligence

• Distinctive Capabilities

Market Driven Strategy

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• Capabilities and customer value

• Creating value for customer

– Customer value

– Providing value to customer

Capabilities Classification

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• Market sensing capabilities

• Customer linking capabilities

• Aligning structure and process

Becoming customer driven

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Market driven strategy

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Corporate,business and marketing strategy

Scope, Mission and

strategic intern

Corporate Objective

Strategy

Resource Allocation

Synergies

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• What is corporate strategy?

• Corporate strategy framework

– Deciding corporate vision

– Objectives

– Resources

– Business composition

– Structure, systems and processes

Corporate, Business and Marketing Srategy

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• Management’s long-term vision for the

corporation

• Objectives

• Assets, skills, and capabilities

• Businesses in which the corporation

competes

• Structure, systems, and processes

CORPORATE STRATEGY COMPONENTS

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• Business and marketing strategy

relationships

– Understanding business scope, purpose ,

objectives, resources, and strategy.

– Participation in Strategy formulation

– Developing marketing strategy relevant to

business strategies

Business and Marketing Strategy

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– Strategic marketing

– Analysis, strategic development and

implementation• Industry forecasting

• Organizational performance

Corporate, Business and Marketing Strategy

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• The marketing strategy process

– Markets, segments and customer value• Markets and competitive space

• Strategic market segmentation

• Strategic customer relationship management

• Capabilities for continuous learning about markets

Corporate, Business and Marketing Srategy

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• Designing market-driven strategies– Market targeting and strategic positioning

– Strategic relationships

– Innovation and new product strategy

• Market-driven program development– Strategic brand management

– Value chain strategy

– Pricing strategy

– Promotion strategy

Corporate, Business and Marketing Strategy

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• Market-driven program development

– Designing market-driven organizations

– Marketing strategy implementation and control

Corporate, Business and Marketing Strategy

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• Escalating globalization

• Technology diversity and uncertainty

• Internet dynamics

• Ethical behaviour and corporate social

responsiveness

Challenges in the modern market environment

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