15.834 Marketing Strategy Cases and lectures etter of Complaint 15.834 Marketing Strategy
15.834 Marketing Strategy 15.834 Marketing Strategy • Cases and lectures • Letter of Complaint
Objectives Identify, evaluate, and develop marketing strategies Evaluate a firms opportunities Anticipate competitive dynamics Evaluate the sustainability of competitive advantages 15.834 Marketing Strategy
15.834 Marketing Strategy Objectives • Identify, evaluate, and develop marketing strategies • Evaluate a firm’s opportunities • Anticipate competitive dynamics • Evaluate the sustainability of competitive advantages
Target Audience Consultants Investment Analysts Entrepreneurs Product managers 15.834 Marketing Strategy
15.834 Marketing Strategy Target Audience • Consultants • Investment Analysts • Entrepreneurs • Product Managers
I What Is Marketing Strategy What is Marketing Strategy? Finding Profit Opportunities Creating Competitive Advantage Challenging Competitive Advantage Creating Corporate Advantage 15.834 Marketing Strategy
15.834 Marketing Strategy I What Is Marketing Strategy? What is Marketing Strategy? Finding Profit Opportunities Creating Competitive Advantage Challenging Competitive Advantage Creating Corporate Advantage
uestion How can a firm earn sustained, superior returns? 1. Create value 2. Capture value 3. Continue to do this a Marketing Strategy is an integrated set of choices about how we will create and capture value, over long periods of time 15.834 Marketing Strategy
15.834 Marketing Strategy Question: How can a firm earn sustained, superior returns? 1. Create value 2. Capture value 3. Continue to do this A Marketing Strategy is an integrated set of choices about how we will create and capture value, over long periods of time
a good marketing strategy meets three tests 1. External consistency 2. Internal consistency 3. Dynamic consistency 15.834 Marketing Strategy
15.834 Marketing Strategy A good marketing strategy meets three tests 1. External consistency 2. Internal consistency 3. Dynamic consistency
External fit: Finding Profit Opportunities Technology Suppliers ompetitors Marketing Complementors Strategy Customers End User Preferences The Environment shapes, and is shaped by, Marketing Strategy 15.834 Marketing Strategy
15.834 Marketing Strategy External fit: Finding Profit Opportunities Marketing Strategy Technology Suppliers Customers Competitors Complementors End User Preferences The Environment shapes, and is shaped by, Marketing Strategy
Value creation Some definitions Value created Customer willingness to pay supplier opportunity cost Value created by a firm Value created by al Value created by all others a player is your competitor if customers value your product less when they have hers as well suppliers value your business less when they have hers as well a player is your complementor if customers value your product more when they have his as well suppliers value your business more when they have his as well 15.834 Marketing Strategy
15.834 Marketing Strategy Value Creation: Some Definitions Value created: Customer willingness to pay - supplier opportunity cost Value created by a firm = Value created by all - Value created by all others A player is your competitor if - customers value your product less when they have hers as well - suppliers value your business less when they have hers as well A player is your complementor if - customers value your product more when they have his as well - suppliers value your business more when they have his as well
nternal Fit: Creating Competitive Advantage Supplier Opportunity Cost Firm resources Competitor Resources Marketing Strategy Resource Investments Customer Willingness to Pay Good marketing strategies are based on resource advantages and the latter are created by speed or gambles, often in areas where resources are not priced out directly or in the cover of competitor ignorance 15.834 Marketing Strategy
15.834 Marketing Strategy Internal Fit: Creating Competitive Advantage Supplier Opportunity Cost Marketing Strategy Firm Resources Competitor Resources Resource Investments Customer Willingness to Pay Good marketing strategies are based on resource advantages and the latter are created by speed or gambles; often in areas where resources are not priced out directly or in the cover of competitor ignorance
Dynamic Fit: Challenging Competitive Advantage New Technologies, New Suppliers New resources New Marketing Strategies New Needs New Customers Upset the industry and resource fits of established competitors 15.834 Marketing Strategy
15.834 Marketing Strategy Dynamic Fit: Challenging Competitive Advantage Upset the industry and resource fits of established competitors. New Technologies, New Suppliers New Resources New Marketing Strategies New Needs, New Customers