Professional Documents
Culture Documents
Sessions Outline
Course Structure Processes in Strategic Marketing Management Defining the Organizations Business, Mission, and Goals Formulating Product-Market Strategies Drafting a Marketing Plan Marketing Ethics and Social Responsibility
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Teaching Philosophy
The teaching philosophy is guided by the following quote from Benjamin Franklin;
Tell me and I forget. Teach me and I remember.
Course Focus
Content:
Current research Current examples Recent cases
Delivery:
Case analysis Class discussion Lectures **Your Experiences**
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Class Preparation
Readings
Chapters and handouts
Case studies
Preparation questions
Lecture notes
Slides on subject website
Assessment
Class Prep & Participation (10%)
Attendance Presentation of reasoned arguments Relevance of comments Respect and acknowledgement of other students contributions
Individual Assignment
Assignment on Analysis 5% Surprise Quiz 5%
(10%)
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Assessment
Group Presentation & project (15%)
A proposal outlining a new business, brand, product or service in Pakistan Written report and presentation Due in Second Last Week
Exams
Mid term 25% (In week 8 / 9) Final term 40%
(65%)
Contact Detail
Email: marketing.asifshahzad@gmail.com
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What is strategy?
A definition of long term goals (Chandler 1962) A definition of competitive domain (Andrews et al 1965) A continuous and adaptive response to changing capabilities and environment (Mintzberg 1979) A search for competitive advantage (Porter 1985) A means of focusing the resources of the business (Andrews 1980) A motivating and directing force for stakeholders (Chaffee 1985)
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Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage.
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Introduction to
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Contrasting Orientations
Starting point
Factory
Focus
Existing products
Means
Selling and promotion
Ends
Profits through sales volume
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Process One
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Business Definition
By defining a business from a customer or market perspective an organization is appropriately viewed as: a customer - satisfying endeavor
not
a product-producing or service delivery enterprise.
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Business Mission
Underscores the scope of an organizations operations apparent in its business definition Reflects managements vision of what the organization seeks to do Most statements describe: the organizations purpose customers, products/services, markets, philosophy, and technology
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Business Goals
Goals or objectives convert the organizations mission into tangible actions and results that are to be achieved, often within a specified time frame.
Three major categories of goals: 1. Production 2. Financial 3. Marketing
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Production Goals Apply to the use of manufacturing and service capacity and to product and service quality.
Financial Goals Focus on return on investment, return on sales, profit, cash flow, and shareholder wealth.
Marketing Goals market share marketing productivity sales volume profit customer satisfaction customer value creation
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Process Two
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SWOT Analysis
A formal framework for identifying and framing organizational growth opportunities
internal
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SWOT Analysis
Framework for focusing attention on the fact that an organizational growth opportunity results from a good fit between an organizations INTERNAL CAPABILITIES (Strengths & Weaknesses) and its EXTERNAL ENVIRONMENT (Opportunities & Threats)
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SWOT Analysis
Strength What the organization is good at doing or a characteristic that gives it an important capability What an organization lacks or does poorly relative to competitors
Weakness
Opportunities Developments or conditions in the environment that have favorable implications for the organization Threats Pose dangers to the welfare of the organization
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Process Three
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Product-Market Strategies
Existing products New products
Existing markets
Market Penetration
Product Development
New markets
Market Development
Diversification
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Exporting
Licensing
Direct Investment
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Diversification Strategy
Development or acquisition of offerings new to the organization and introducing those offerings to publics not previously served by the organization.
Growing trend in recent years High-risk strategy because both the offering and market served are new to the organization
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Aggressive competition Market-penetration strategy Passive competition Aggressive competition Market-development strategy Passive competition
Product Strategy
Communications Strategy
Customer
Price Strategy Channel Strategy
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Process Four
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The Budget
A formal, quantitative expression of an organizations planning and strategy initiatives expressed in financial terms
A well-prepared budget meshes and balances an organizations Financial, Production, and Marketing Resources so that overall organizational goals or objectives are attained.
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Components of a Budget
1. Operating Budget
Also referred to as a pro forma Income Statement Focuses on an organizations income statement
2. Financial Budget
Focuses on the effect that the operating budget and other initiatives will have on the organizations cash position
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Process Five
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Marketing decisions reflect an organizations orientation toward the publics with which it interacts The marketplace is populated by individuals with diverse value systems Their actions will be judged publicly by others with different values
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Next Sessions
Cases studies Aldi in Australia Additional readings The seven questions of marketing strategy Innovation from the inside out BOP The right game: Use game theory to shape strategy
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