THEORY AND APPLICATION FOR COMPETITIVE ADVANTAGE

Transcription

1 2ND EDITION STRATEGIC MARKETING THEORY AND APPLICATION FOR COMPETITIVE ADVANTAGE

2 TABLE OF Contents Outcomes 2 Opening case study 2 Overview 5 Introduction The approachofthistextbook Strategy as plan Strategy as ploy Strategy as pattern Strategy as position Strategy as perspective Marketing at the different levels of strategy development Corporate level strategy Business-Ievel strategy Marketing strategy Tactical and operational marketing Strategie marketing The marketing concept and market orientation What is Strategie marketing? The Strategie marketing process The role ol the marketing funetion in Strategie marketing 19 Conclusion 22 Summary 23 Marketing plan input 23 Discussion questions 23 Key terms 23 E-activrties 24 Closing case study 24 Further reading 26 Suggested Websites 26 References 26 Outcomes 28 Opening case study 28 Overview 29 Introduction Socio-economic dynamics The social strueture of South Africa Demographic dynamics South Africa's population Population groups Languages Migration HIV/Aids in South Africa Fducation and the Internet Living Standards Sources of Information for marketing planning Statistics South Africa Industry Information Key issues in sources of Information for South African marketers 51 Conclusion 52 Summary 52 Marketing plan input 53 Discussion questions 53 Key terms 53 E-activities 53 Closing case study 54 Further reading 54 Suggested Websites 54 References 55 Outcomes 58 Opening case study 58 Overview 59 Introduction The operating environment Environmental scanning to identify opportunities Macro environmental analysis 61 Step 1 Prioritise macro trend categories 61 Step 2 Identify and monitor information about macro trends 62 Step 3 Adopt appropriate strategies Industry and market analysis Strategie group analysis Industry analysis of competitive strueture Market analysis Internal analysis Marketing audit Financial analysis 82 Conclusion 90 Summary 90 Marketing plan input 90 Discussion questions 91 Key terms 91 E-activities 92 Closing case study 92 Further reading 94

3 Suggested Websites 94 References 95 Outcomes 98 Opening case study 98 Overview 99 Introduction Market definitions Market potential Untapped market potential Market growth Rate of market development Market share Market forecasting Market opportunity development framework External analysis Financial analysis Internal analysis Evaluating opportunities 119 Conclusion 120 Summary 121 Marketing plan input 122 Discussion questions 122 Key terms 123 E-activities 123 Closing case study 123 Further reading 124 Suggested Websites 124 References 125 Outcomes 130 Opening case study 130 Overview 131 Introduction Segmentation, targeting, and positioning Market segmentation Types of market segmentation The market segmentation process Targeting strategies Assessing segment attractiveness Assessing relative competitive position Determining market targets Differentiation and positioning Competitive strategy Positioning The role of perceptual mapping in determining positioning strategies 156 Conclusion 157 Summary 161 Marketing plan input 161 Discussion questions 161 Key terms 162 E-activities 162 Closing case study 162 Further reading 163 Suggested Websites 164 References 164 Outcomes 165 Opening case study 165 Overview 167 Introduction Sustainable competitive advantage (SCA) The steps in creating a SCA Global competitive advantage Ownership-based Access-based Proficiency-based Sources of global competitive advantage (the fourcs) Competition Creation and Innovation Cooperation Co-option Marketing strategies for growth markets Market penetration (growth in the existing product market) Product development (new products sold to the existing customer base) Market development Diversification Marketing strategies for mature and declining markets Characteristics of a mature and declining market Strategies in mature and declining markets Testing strategies Suitability Feasibility Acceptability Qualifiers when evaluating criteria 195 Conclusion 196 Summary 197 Marketing plan input 197 Discussion questions 198 Key terms 198 E-activities 198

4 Closing case study 199 Further reading 199 Suggested Websites 199 References 200 Outcomes 203 Opening case study 203 Overview 204 Introduction Defining Innovation The role of Innovation The Innovation process The traditionat Innovation process Getting insight Creating an idea Formulating concepts Communicate the idea Organisational issues Measuring Innovation success 218 Conclusion 221 Summary 221 Marketing plan input 221 Discussion questions 222 Key terms 222 E-activities 222 Closing case study 222 Further reading 223 Suggested Websites 223 References 223 Outcomes 226 Opening case study 226 Overview 227 Introduction The concept of brand Building a brand Brand identity and Elements The BrandAdvantage model Brand positioning Brand positioning defined The positioning process Managing the brand Brand alignment - internal and external Brand rejuvenation - remaining relevant Brand measurement Tracking Performance Brand valuation and equity Brand portfolio strategy Building a brand portfolio Brand architecture 251 Conclusion 253 Summary 253 Marketing plan input 253 Discussion questions 254 Key terms 255 E-activities 255 Closing case study 256 Further reading 260 Suggested Websites 260 References 260 Outcomes 264 Opening case study 264 Overview 265 Introduction Marketing planning defined Benefits of planning Positioning marketing planning within Strategie and marketing management The marketing planning process Market intelligence Opportunity analysis Marketing objectives Marketing strategies Marketing programmes Thebudget Implementation and measurement Marketing plan strueture Obstacles to the marketing plan 284 Conclusion 285 Summary 285 Discussion questions 285 E-activities 286 Key terms 286 Closing case study 287 Further reading 289 Suggested Websites 289 References 289 Outcomes 293 Opening case study 293 Overview 294 Introduction Internal marketing Brand alignment The resource-based view and brand alignment 296

5 Organisational architecture and brand alignment Leadership and culture Leadership Organisational culture Systems and strueture Systems models Structural considerations Barners to Implementation Geography Language and culture Project management and produetion capability Internal behaviour Cost Marketing orientation Measuring marketing implementation 314 Conclusion 315 Summary 316 Marketing plan input 316 Discussion questions 316 Key terms 317 E-activities 317 Closing case study 318 Further reading 321 Suggested Websites 321 References 321 i6mentes '.sä Outcomes 323 Opening case study 323 Overview 324 Introduction The evolution of marketing metrics Terminology The increasing focus on marketing accountability From traditional marketing control to marketing metrics Market-based marketing and assetbased marketing Strategie monitoring systems and Performance measurement Challenges in designing Strategie monitoring systems Design deeisions Creating a positive context for measurement The balanced scorecard - an integrated measurement approach The portfolio of marketing metrics Classification of marketing metrics Prioritising and selecting marketing metrics Designing marketing metrics Assumptions and questions toask Mapping business processes The steps involved in developing metrics Integrated marketing measurement Marketing dashboards and scorecards Integrating marketing metrics into a dashboard 351 Conclusion 352 Summary 352 Marketing plan input 352 Discussion questions 352 Key terms 353 E-activities 353 Closing case study 353 Further reading 356 Suggested Websites 356 References 356 Outcomes 360 Opening case study 360 Overview 361 Introduction Marketing ethics Bribery Ethical pricing Ethical produets Ethical advertising Consumer privaey Marketing and corporate sustainability Green marketing Codes ofconduct Regulation Consumer recourse 378 Conclusion 379 Summary 379 Marketing plan input 380 Discussion questions 380 Key terms 381 E-activities 381 Closing case study 382 Further reading 382 Suggested Websites 382 References 382 Index 385