strategic marketing course lectures 1
TRANSCRIPT
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Module: Strategic MarketingInstructor: Bilal Ahmad
LECTURE: IntroductionAims and ObjectivesStrategic MarketingRole of Strategic Marketing
Introduction
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• 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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