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1、2-1,Chapter 2,A Strategic Marketing Framework,2-2,Key Learning Points,Elements of a complete marketing strategyDeveloping a value propositionDeveloping competitive advantagePositioning products and servicesThe product life cycle and how it affects marketing strategies,2-3,Figure 2-1:A Complete Marke
2、ting Strategy,2-4,Marketing Strategy,ObjectivesMission statements describe the customer orientation or business philosophyCorporate objectives state the overall goals to be achieved in financial terms,2-5,Marketing Strategy,Characteristics of well-written objectives:Lists a quantified standard of pe
3、rformanceDesignates a clear time frameStates goal in measurable termsShould be challenging but realistic,2-6,Marketing Strategy,Customer and competitor targetsWhich customer groups should be targeted?Begin by considering the strategic alternatives outlined in Figure 2.2,2-7,Figure 2-2:Strategic Alte
4、rnatives,2-8,Marketing Strategy,Market PenetrationMarket Development,Targeting the companys own customersShould be a high priorityTargeting competitors customersRiskier and more expensive strategyCommon in slow growth marketsPrice promotions are key,Key Strategies,2-9,Marketing Strategy,Market Penet
5、rationMarket Development,Targeting nonbuying customers in currently targeted segmentsIs it profitable?Targeting new customers in new segmentsWill it require the introduction of new or modified products?,Key Strategies,2-10,Marketing Strategy,Market Development Strategies:Entering Foreign Markets Req
6、uires decisions related to:The choice of country or countries to enterThe timing of the entryHow to operate in the chosen countriesFive factors should be considered when deciding how to enter a foreign market,2-11,Figure 2-3:Factors Affecting Mode of Entry,2-12,Marketing Strategy,Product FeaturesAft
7、er formulating objectives and determining customer and competitor targets,the next key decision is to select the specific features to include in the product.,2-13,Marketing Strategy,Product FeaturesDifferent features are often used to attract different segments.Features may be product-specific or pa
8、ckage-related.Creating several versions of a manufactured good can be very expensive.Services and information packages are more easily tailored.,2-14,Can you think of a current product that could appeal to a different market segment if the packaging were changed in some fashion?Explain.,Discussion Q
9、uestion,Ketchup,margarine,and even peanut butter have successfully used packaging innovations,such as the squeeze container,to appeal to new markets.,2-15,Marketing Strategy,The Value PropositionDifferentiation Product Positioning,Core Strategy,2-16,Marketing Strategy,The Value PropositionDifferenti
10、ation Product Positioning,Summarizes into a single paragraph:The customerThe competitive targetsThe customers reason for buying your brandForms the basis for the marketing mix,Core Strategy,2-17,Product&Service Decisions,Value PropositionFor(target segment n),the(product/brand name)is a(product cate
11、gory)that unlike(competitor targets),(statement of primary differentiation).,2-17,2-18,Marketing Strategy,The Value PropositionDifferentiation Product Positioning,Competitive advantages(CA)should have three characteristics:CA should generate customer valueIncreased value must be perceived by the con
12、sumerCA should be difficult to copy,Core Strategy,2-19,Product&Service Decisions,Key Decisions,Marketing Strategy,General Approaches to Creating Competitive Advantage,Cost-or price-based advantage Quality-based or differentiation advantage Perceived quality or brand-based advantage,2-19,2-20,Marketi
13、ng Strategy,Cost-or Price-Based AdvantageDifficult to achieveTwo primary methods of creating a cost-or price-based advantage:Being the largest producer and benefiting from economies of scaleTaking advantage of the experience curveStrict cost control can also help smaller firms or those with less exp
14、erience to develop a cost-based advantage,2-21,Figure 2-4:Learning Curves for Software and Hardware,2-22,Marketing Strategy,Quality-Based DifferentiationDevelopment of an observable difference that is valued by customersTypically implies higher costsAllows for both higher prices and higher marginsDi
15、fferentiation can occur at any point within the value chain,2-23,Product&Service Decisions,Key Decisions,Marketing Strategy,Differentiation Opportunities within the Value Chain,Inbound LogisticsOperational Advantages,2-23,Outbound LogisticsMarketing and Sales,Service,2-24,Marketing Strategy,Perceive
16、d Quality or Brand-Based DifferentiationPerceptual product differences are often used for differentiation when actual differences are small,hard to achieve,or difficult to sustainPrice,distribution,and marketing communications can all contribute to brand-based differentiationThorough understanding o
17、f consumers perception of your brand compared to competitors is requiredPerceptual maps are a useful tool,2-25,Figure 2-5:Perceptual Map:Retail Banking,2-26,Product&Service Decisions,“One of the key ways to define a perceptual differential advantage is through the brand name.The value of a brand nam
18、e in communicating quality or other aspects of the product is called brand equity.”,2-26,-Russell S.Winer,2-27,Marketing Strategy,The Value PropositionDifferentiation Product Positioning,Positioning creates a clear image in the mind of the consumer of what the product stands for and how it is differ
19、ent from competitive offeringsInvolves both actual and perceived differential advantagesRepositioning can be difficult for high awareness brands,Core Strategy,2-28,Marketing Strategy,Marketing MixImplementation of the marketing mix makes the strategy operationalConsistency between strategy and the a
20、ctual implementation is critical,2-29,Product&Service Decisions,The headline,“Travel to Asia and Awaken Your Senses,”and the print ad copy are used to implement Malaysia Airlines value proposition.,2-29,2-30,Figure 2-7:Ensuring a Segment-Focused Strategy,2-31,Figure 2-8:The Product Life Cycle,2-32,P
21、roduct Life Cycle Marketing Strategies,Conceptual tool best applied to product categories rather than specific brands Strategy options and the importance of marketing mix variables vary across each stage of the PLCNot all product categories follow the standard PLC curveSee Figure 2.9,2-33,Figure 2-9
22、:The Product Life Cycle:Videocassette Recorders,2-34,Product Life Cycle Marketing Strategies,IntroductionGrowth MaturityDecline,Market size and growth rate are lowSelling&advertising:focuses on the generic productPricing:penetration or skimmingDistribution:limited as product is unprovenFirst-mover a
23、dvantage,Stage of PLC,2-35,Product Life Cycle Marketing Strategies,IntroductionGrowth MaturityDecline,Characteristics:Growing competitionPrice pressureMarket segmentationKey strategic issues:Market leaderFight or flee Market followerExit market and reinvestImitate leaders productFortify current posi
24、tionLeapfrog competition,Stage of PLC,2-36,Product Life Cycle Marketing Strategies,IntroductionGrowth MaturityDecline,Characteristics:Fierce market share battles,few new buyers,large distribution,large promotion costs,competitive pricingKey strategic issues:Market leaderInvest enough to maintain pos
25、ition or harvest for short-term Market followerOften dependent on market leaders strategy,Stage of PLC,2-37,Product Life Cycle Marketing Strategies,IntroductionGrowth MaturityDecline,Many strategies for reviving mature product categories can be applied to those in declineBeing the last provider in a truly dying market can be profitable,Stage of PLC,2-38,Figure 2-10:Beer Market Evolution For Selected Countries/Regions,
