Strategic Marketing Chapter 1

Front 1

Business/Corporate Strategy

Back 1

Strategy is the direction and scope of an organization over the long-term: which achieves advantage for the organization through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfill stakeholder expectations.

Basically it is the result of choices to maximize long-term value.

Front 2

High performance strategies require:

Back 2

- Vision
- Sound strategic logic
- Commitment

Front 3

Strategic Marketing:

Back 3

A market-driven process of strategy development, taking into account a constantly changing business environment and the need to deliver superior customer value.

Front 4

Market-Driven Strategy:

Back 4

- Characteristics of market-driven strategies
- Classifying capabilities
- Creating value for customers
- Becoming customer driven

Front 5

Characteristics of Market-Driven Strategies:

Back 5

- becoming market oriented
- Customer focus
- Competitor intelligence
- Cross-functional coordination
- performance implications
- determining distinctive capabilities

Front 6

Capabilities and Customer Value

Back 6

- Value for buyers = benefits and costs from purchase and use
- Value is perceived

Front 7

Creating value for customers:

Back 7

- Customer lifetime value
- Customer satisfaction

Front 8

Becoming customer driven

Back 8

organization must identify:
1) which capabilities to develop:
* market sensing
* Customer linking
* Aligning structures and processes
2) which investments to make

Front 9

Designing Market-Driven Strategies

Back 9

- Identifying market opportunities
- Define market segments
- Evaluate competition
- Assess the organization's strengths and weaknesses

Strategies include:
- marketing targeting and positioning
- strategic relationships
- Innovation and new product strategy

Front 10

Market-Driven Program Development

Back 10

marketing program strategies implement:
- strategic brand management
- value-chain strategy
- pricing strategy
- promotion strategy

Front 11

Implementation and management of MD strategy

Back 11

- Designing MD organizations
- preparing marketing plan and budget
- implementing the plan
- using plan to control on an ongoing basis

Front 12

Challenges for strategic marketing

Back 12

- Escalating globalization
- Technology diversity and uncertainty
- Internet Dynamism
- Ethical Behavior and corporate social responsiveness