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Marketing strategy and planning     A framework for strategic marketing and planning                            -         ...
The marketing management process                                Part 1:Marketing Strategy    • Market –led strategic manag...
Today’s subject    Marketing Audit:    1. Understanding the organisational resource base    2. Forecasting future demand a...
Resources – hov to use them4                              www.Office2go.dk
Organisational resources    Organisational resources include both tangible and intangible    assets, capabilities and comp...
Organisational resources     These resources are important to identify so      that they can be used to create an      su...
How can you protect yourself from           duplication and intense competition?    1. A competitor must identify the reso...
Value creation    • Operation excellence    • Product leadership    • Customer intimacy    •   Porter argues that the dang...
RBV >< Market orientation    Market orientation:    All the firms capabilities are focusing on responding to market needs....
Resource-based view     In general, the greater the rate of change in the external environment, the     more the company m...
Dynamic capabilities11                            www.Office2go.dk
How to developed marketing assets?12                                  www.Office2go.dk
Brands - What are we looking at ?           Other services – Delivery, installation, repair, training                     ...
Core benefits - Brand     What does strong brands do:     “Really strong brands are the ones which have done all my thinki...
Brands as an asset     • Brands are difficult to build     • Brands ad value for customers     • Brands create defensible ...
How to developed marketing assets and                  capabilities?16                                    www.Office2go.dk
Dynamic capabilities17                            www.Office2go.dk
Marketing capabilities             (4 p’er)18                              www.Office2go.dk
Dynamic marketing capabilities     •   Absorptive marketing capabilities          –   The firm ability to recognize the va...
Forecasting20                   www.Office2go.dk
Measuring market opportunities –       forecasting and market knowledge.     Men inden vi starter – en lille film om at ma...
Forudsigelser – prognoser                        forecast     Er pr definition forkerte – så hvorfor lave dem?     Fordi: ...
Forecasting                Macro analysis - economics                  Macro demographics     Top-down            Trends  ...
Simple mathematical methods     Market build up methods       Q=n*q*p       Q = Total market demand       n = Number of bu...
Market build up methods in Office2go                                                                                      ...
Market build up methods in Office2go                                Møbler BtB markedet 2010/2011                         ...
Forecast models in Markops27                              www.Office2go.dk
Metoder                                                                                                                   ...
Time-series analysis29                            www.Office2go.dk
Metoder     • Observationer        – Viser hvad folk faktisk gør        – Man kan manipulere med folk og lære af det      ...
Nestlé forecast31                       www.Office2go.dk
Metoder     • Analogier        – Hvad gør man når produktet ikke findes på markedet. Eks.          Sony Walkman, fax maski...
Hvem og hvad vil vi undersøge     • Adoption process        –   Awareness        –   Interest        –   Evaluation       ...
Diffusion of innovation                                   Opportunity attractiveness     Adopter            Innovators    ...
Diffusion theory and the s-curve     The diffusion curves of many household innovations, from the Federal Reserve Bank of ...
Pas på fejlkilder     •    Man er for forankret i fortiden     •    Man kan ikke se skoven for bar træer     •    Man over...
Coffee break37                    www.Office2go.dk
Markops Online Simulation             Introduction38                                 www.Office2go.dk
MARKOPS GRUPPER – Deadline mandag 24 sept     Sendes til jacob.k.holm@gmail.com39                                         ...
40     www.Office2go.dk
Market41              www.Office2go.dk
The Markops Online World     •   Population : 80,000,000     •   Currency : Markops Monetary Unit (Symbol = $)     •   Sta...
4 companies are in competition in a     fictitious FMCG market: the “Yumite” market     – “Yumites” are a class of edible ...
4 well-established competing firms are in                different starting positions       – Varying strengths & weakness...
Products - Brands45                         www.Office2go.dk
“Yumite” brands are usually differentiated in        terms of 4 most important attributes                                 ...
Newsletter     Attributes of marketed brands                Brand names start                 with firm’s initial47       ...
The unit cost of Yumite brands is set by the               production department      The Unit cost increases as attribut...
Consumers49                 www.Office2go.dk
Five consumer segments of Yumite           products vary in age, occupation and family                              status...
Distribution51                    www.Office2go.dk
Over 95% of Yumite products are purchased               in traditional distribution channels                              ...
The growth of web-based channels has     decreased strongly in the past two years            E-GROCERS                    ...
Margins and discounts vary with distributions                      channels                                     Mass      ...
Managing your firm in     the Markops Online world55                            www.Office2go.dk
Your mission     IMPROVE CONSUMER WELL-BEING         THROUGH INNOVATIVE        PRODUCTS AND SERVICES                      ...
You are responsible for designing and            implementing the marketing strategy of                          your firm...
Data is available on Consumers, Firms, Brands...     It is up to you to prioritize, digest and interpret them             ...
Use the Semantic Scales study and the relevant       Brand Map to decide on advertising content                           ...
Positional strategy – Markops60                                     www.Office2go.dk
Today’s subject     Marketing Audit:     1. Understanding the organisational resource base     2. Forecasting future deman...
Nothing more for today     Husk Deadline for grupper I         Markops 24 sept!    Jacob Holm                             ...
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Cbs org. resourcebase and market requirements

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Marketing course at Copenhagen Business School

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Transcript of "Cbs org. resourcebase and market requirements"

  1. 1. Marketing strategy and planning A framework for strategic marketing and planning - Understanding the org. resource base – Forecasting future demand and market requirements Week 38 Jacob Holm Jacob.k.holm@gmail.com Tlf: 24 42 11 32 www.office2go.dk1
  2. 2. The marketing management process Part 1:Marketing Strategy • Market –led strategic management – chapter 1 • Strategig marketing plannng Part 2: Competitive market analysis • The changing market environment – chapter 3 • Customer analysis – chapter 4 • Competitor analysis - chapter5 • Understanding the organizational resource base – chapter 6 • Forecasting future demand and market requirements – chapter 7 Part 3: Identifying current and future competitive positions • Segmentation and positioning principles – chapter 8 • Segmentation and positioning research – chapter 9 • Selecting target markets– chapter 10 Part 4: Competitive position strategies • Segmentation and positioning principles – chapter 11 • Competing through the new marketing mix – chapter 12 •Competing trough innovation– chapter 13 • Competing through superior service and customer relationship – chapter 14 Part 5: Implementing the strategy • Strategic customer management – chapter 15 • Strategic alliances and network – chapter 162 • CSR – chapter 18 www.Office2go.dk
  3. 3. Today’s subject Marketing Audit: 1. Understanding the organisational resource base 2. Forecasting future demand and market requirements 3. Markops introduction3 www.Office2go.dk
  4. 4. Resources – hov to use them4 www.Office2go.dk
  5. 5. Organisational resources Organisational resources include both tangible and intangible assets, capabilities and competence (page 130)  These resources are important to identify so that they can be used to create an sustainable competitive advantage ! Resources that are difficult to copy: • Brand reputation • Customer relationships • Distribution networks • Competitive position in the market place Resources that are easy to copy: • Capital • Plant and machinery5 www.Office2go.dk
  6. 6. Organisational resources  These resources are important to identify so that they can be used to create an sustainable competitive advantage ! Resources that are difficult to copy: • Brand reputation • Customer relationships • Distribution networks • Competitive position in the market place Pris Høj Resources that are easy to copy: • Capital • Plant and machinery Lav service grad Høj service grad6 www.Office2go.dk Pris lav
  7. 7. How can you protect yourself from duplication and intense competition? 1. A competitor must identify the resources that have been dedicated to creating and implementing the strategy. 2. Should a competitor overcome this, it would still need to acquire the necessary resources. 3. Resources depreciate over time as competitors find ways to imitate successful strategies. Porters five forces Market definition New entries Threats & attractiveness, competence PEST Industry competitors Suppliers Determine Buyers Power etc. intensisity & Power etc. attractiveness? Substitutes Relative price, switching cost etc.7 31 www.Office2go.dk
  8. 8. Value creation • Operation excellence • Product leadership • Customer intimacy • Porter argues that the danger inherent in the pressure on companies to improve operational efficiency is not simply that we substitute operational efficiency for strategy, but that companies become more and more similar. The more benchmarking companies do, the more they look alike. Continuous improvement has been etched on to managers brains. But its tools unwittingly draw companies toward imitations and homogeneity8 www.Office2go.dk
  9. 9. RBV >< Market orientation Market orientation: All the firms capabilities are focusing on responding to market needs. Resource-based view: High performance strategy is dependent on historical developed resources. BUT The attractiveness of markets will depend, in part, on the resources available to the firm to build a strong competitive position9 www.Office2go.dk
  10. 10. Resource-based view In general, the greater the rate of change in the external environment, the more the company must seek to base a long term strategy upon internal resources and capabilities, rather than upon external market focus ! Side 13510 www.Office2go.dk
  11. 11. Dynamic capabilities11 www.Office2go.dk
  12. 12. How to developed marketing assets?12 www.Office2go.dk
  13. 13. Brands - What are we looking at ? Other services – Delivery, installation, repair, training Warranty Packaging Product features Core benefits/Brand13 www.Office2go.dk
  14. 14. Core benefits - Brand What does strong brands do: “Really strong brands are the ones which have done all my thinking for me!” Marieke van der Werf – fouder of New Moon Communication “Branding is something you do to cows. Branding is what you do when theres nothing original about your product”. Roy Edward Disney (Former Walt Disney Board member) "Your brand represents the sum of all the minds and souls of every single person that comes into contact with your company over time.” Martin Lindstrom A brand is more than a word. It is the beginning of a lifetime dialogue." Martin Lindstrom14 www.Office2go.dk
  15. 15. Brands as an asset • Brands are difficult to build • Brands ad value for customers • Brands create defensible competitive positions • Brands build customer retention • Brands can transform markets • Brands can perform financially • Brands can cross national borders15 www.Office2go.dk
  16. 16. How to developed marketing assets and capabilities?16 www.Office2go.dk
  17. 17. Dynamic capabilities17 www.Office2go.dk
  18. 18. Marketing capabilities (4 p’er)18 www.Office2go.dk
  19. 19. Dynamic marketing capabilities • Absorptive marketing capabilities – The firm ability to recognize the value of new information from the market an assimilate to it. • Adaptive marketing capabilities – Firms ability to identify and capitalize on emerging market opportunities. Adaptation implies doing things differently in response to external stimuli. • Innovative marketing capabilities. – Firms ability to innovate and develop the next generation of goods and services19 www.Office2go.dk
  20. 20. Forecasting20 www.Office2go.dk
  21. 21. Measuring market opportunities – forecasting and market knowledge. Men inden vi starter – en lille film om at man ikke skal tror på alt hvad man ser og hører21 www.Office2go.dk
  22. 22. Forudsigelser – prognoser forecast Er pr definition forkerte – så hvorfor lave dem? Fordi: Ure Foto22 www.Office2go.dk
  23. 23. Forecasting Macro analysis - economics Macro demographics Top-down Trends Buttom up Micro economics Customer analysis Regional sales trends Local sales trends23 www.Office2go.dk
  24. 24. Simple mathematical methods Market build up methods Q=n*q*p Q = Total market demand n = Number of buyers in the market q = Quantity purchased by an average buyer per year P = price of an average unit24 www.Office2go.dk
  25. 25. Market build up methods in Office2go antal nystart antal nystart Antal arbejdspladser Gens. antal antal år virks. Over virks. Der Antal kundeværdi i nystartede og Antal antal medarb. med før 2 køber nye nye arb. ved 9.000 kr små virksomheder virks. medarb. kontorarb nykøb medarb. møbler. pladser pr. arb.plads Antal vi rk. 31-40 meda rb. 3.818 35 50% 5 13.363 315.000 Antal vi rk. 21-30 meda rb. 2.234 25 50% 5 5.585 225.000 Antal vi rk. 11-20 meda rb. 10.867 15 50% 5 16.301 135.000 Antal vi rk. 2-10 meda rb. 70.038 5 50% 5 35.019 45.000 Antal nys tartede vi rk. Pr å r 25.000 3 75% 1 50% 50% 14.063 27.000 Total 111.957 Gens . 7 84.330 Total ma rked ved 9.000 kr pr. a rbejds pl a ds : kr 758.970.00025 www.Office2go.dk
  26. 26. Market build up methods in Office2go Møbler BtB markedet 2010/2011 OMS 400 350 300 Samlet marked ca. 2 mia kr 250 200 Mio kr. 150 100 50 -26 www.Office2go.dk
  27. 27. Forecast models in Markops27 www.Office2go.dk
  28. 28. Metoder U d vik lin g T o ta l A lle sæ lg ere - o gs å d em s om ikke l æ ng e re e r h o s o s 45 00 • Statistiske modeller 40 00 – Linear regression 35 00 – Tidsserie analyser 30 00 25 00 T kr. 20 00 15 00 • Fordele 10 00 – Giver overblik 5 00 0 – Enkle at arb. Med 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29- 32 33 34- 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 T o ta l 724 554 580 423 480 423 248 809 1.3 552 969 665 3.2 366 516 1.6 1 .0 2 .1 436 222 608 L in e a r re g . 973 982 991 100 100 101 1.0 1.0 1.0 1.0 1.0 107 108 10 9 110 111 1 .1 1 .1 1 .1 1 .1 1 .1 1 1 6 1 1 7 1 1 8 1 1 9 1 2 0 1 .2 1 .2 1.2 1 .2 • Ulemper – Tager ikke højde for paradigme skift – Kræver et pålideligt statistisk grundlag – Giver et statisk billede28 www.Office2go.dk
  29. 29. Time-series analysis29 www.Office2go.dk
  30. 30. Metoder • Observationer – Viser hvad folk faktisk gør – Man kan manipulere med folk og lære af det – Er dog ikke statistisk dækkende pga begrænsningen i observationer • Spørgeskemaundersøgelser – Kan afdække et stort antal respondenter – Kan dog stille et begrænset antal spørgsmål • Kan dog gøres elektronisk • Pas på med svar • Fokus grupper – Afdække få respondenter – I dybden spg. – Kan styre diskussionen30 www.Office2go.dk
  31. 31. Nestlé forecast31 www.Office2go.dk
  32. 32. Metoder • Analogier – Hvad gør man når produktet ikke findes på markedet. Eks. Sony Walkman, fax maskinen – Men hvad skal man vurdere ud fra? • Markeds test – Test et begrænset område inden man ruller den store marketing / salgs plan ud.32 www.Office2go.dk
  33. 33. Hvem og hvad vil vi undersøge • Adoption process – Awareness – Interest – Evaluation – Trial – Adoption • Adopter categories – Innovators – Early adopters – Early majority – Late majority – laggards33 www.Office2go.dk
  34. 34. Diffusion of innovation Opportunity attractiveness Adopter Innovators Early Early Late majority Laggards categories adopters majority 2,5% 13,5% 34 % 34 % 16 % Adoption process venturesome, social leaders, deliberate, skeptical, neighbors and educated, popular, many informal traditional, friends are main multiple info educated social lower socio- info sources, sources contacts economic fear of debt status Awareness Interest Evaluation Trial Adoption34 www.Office2go.dk
  35. 35. Diffusion theory and the s-curve The diffusion curves of many household innovations, from the Federal Reserve Bank of Dallas, 199835 www.Office2go.dk
  36. 36. Pas på fejlkilder • Man er for forankret i fortiden • Man kan ikke se skoven for bar træer • Man overfortolker resultater • Man overfortolker på statistik der ikke er statistisk validt • Man stiller ledende spg. Og konkluderer pba dette. S a lg s ra p p o rt D at o n y 0 3- 10- 200 8 Eks: D at o G am m el 2 6- 09- 200 8 Uge 40 T kr F a kt ur ere t O rd re T ilb u d N avn T ilg a n g A f ga n g T ilg an g C h rist ia n 11 7 42 1 404 210 M a rin a 10 8 17 6 184 213 Jo h n (2 1) - - - An d r e C am illa 28 38 17 209 Ø yvin d 34 - 17 207 Jan 21 5 45 2 125 113 T o ta l 48 1 1.08 7 748 952 In d ex 49 % T kr F a kt ur ere t O rd re T ilb u d N avn T ilg a n g A f ga n g T ilg an g B u t ik 83 - - -36 www.Office2go.dk
  37. 37. Coffee break37 www.Office2go.dk
  38. 38. Markops Online Simulation Introduction38 www.Office2go.dk
  39. 39. MARKOPS GRUPPER – Deadline mandag 24 sept Sendes til jacob.k.holm@gmail.com39 www.Office2go.dk
  40. 40. 40 www.Office2go.dk
  41. 41. Market41 www.Office2go.dk
  42. 42. The Markops Online World • Population : 80,000,000 • Currency : Markops Monetary Unit (Symbol = $) • Stable GNP growth • No inflation • No major political, social or economic events anticipated in the near future - PEST42 www.Office2go.dk
  43. 43. 4 companies are in competition in a fictitious FMCG market: the “Yumite” market – “Yumites” are a class of edible consumer products comparable to savory snacks, confectionary products or dessert items – “Yumite products have existed for several years – Now a well-established market, with several strong brands at different price points covering a wide range of needs – Consistent solid growth since the introduction of the first Yumite brand – Probable continued growth over the next five years43 www.Office2go.dk
  44. 44. 4 well-established competing firms are in different starting positions – Varying strengths & weaknesses • R&D Pipeline, Brand portfolio, Target segments, Channels, Finances – Distribution through established distribution channels – Slow transition into the new Internet world CHEWY (Your Firm) Savor Tasty Whippit44 www.Office2go.dk
  45. 45. Products - Brands45 www.Office2go.dk
  46. 46. “Yumite” brands are usually differentiated in terms of 4 most important attributes High Rating (highest achievable) – Four tangible attributes on a 0 (Poor) to 100 (Excellent) 100 scale PERFORMANCE NUTRITION WAHOO Main product benefit Healthful/Quality ingredients  Appearance  Texture  No preservatives  Mouthfeel  Lack of artificial coloring CARE  No added sugar PACKAGING FLAVOR Quality of packaging Taste experience SAGA  Attractiveness  Uniqueness  Ease of use/convenience  Pleasure TEENS  Serving size  Smooth, natural, fresh 0 Low Rating46 (minimum acceptable) www.Office2go.dk
  47. 47. Newsletter Attributes of marketed brands Brand names start with firm’s initial47 www.Office2go.dk
  48. 48. The unit cost of Yumite brands is set by the production department  The Unit cost increases as attribute levels increase PERFORMANCE NUTRITION BASE UNIT COST E.G. $ 5.65 FOR BRAND “CENTO” PACKAGING FLAVOR  The Unit cost decreases with cumulative production due to experience effect MILLIONS OF UNITS PRODUCED RESULTING UNIT COST (CUMULATIVE) LOWER THAN 10 C : BASE UNIT COST FROM 10 TO 20 C x 0.85 FROM 20 TO 40 C x 0.85 x 0.85 = C x 0.72 GREATER THAN 40 C x 0.85 x 0.85 x 0.85 = C x 0.6148 www.Office2go.dk
  49. 49. Consumers49 www.Office2go.dk
  50. 50. Five consumer segments of Yumite products vary in age, occupation and family status HIGH EARNERS  High income  25+ SINGLES  Single or married no kids AFFLUENT FAMILIES  Low income  Buy expensive products  High income  18 – 35  Motivated by social status  25 – 45  Single, student or employee  Married with kids  Heavy users, rather price  Frequent buyers of Yumites sensitive  Buy high quality products LOW INCOME FAMILIES MEDIUM INCOME FAMILIES  Low family income  Lower income than Affl. Fam.  25 – 45  25 – 45  Married with kids  Married with kids  Buy lower quality products  Buy average quality products  Very price sensitive  Slightly price sensitive50 www.Office2go.dk
  51. 51. Distribution51 www.Office2go.dk
  52. 52. Over 95% of Yumite products are purchased in traditional distribution channels SUPERMARKETS  20 chains – 2,000 stores  Large % sales from Yumites  Broad product line MASS  Both cheap and expensive SPECIALTY CHAIN MERCHANDISERS brands STORES  10 chains – 12,500 stores  15 chains – 6,000 stores  Food, house wares, personal  Specialize in Yumites care products  Extensive customer service  Limited product line  Focus on expensive, high quality  Cheaper, lower-quality brands brands52 www.Office2go.dk
  53. 53. The growth of web-based channels has decreased strongly in the past two years E-GROCERS E- BOUTIQUES  10 web sites  8 sites  Food, house wares, personal  Specialized in Yumites care products, …  Focus on expensive, high  Limited product line quality brands  Cheaper, lower-quality brands DIVAGO Chocolatier53 www.Office2go.dk
  54. 54. Margins and discounts vary with distributions channels Mass Specialty chain Merchandisers Supermarkets stores & e- & e-Grocers Boutiques Average Margin 35 % 40 % 50 % Average Discount 10 % 5% None Recommended Retail $ 10.00 $ 10.00 $ 10.00 Price Price Paid by Consumers $ 9.00 $ 9.50 $ 10.00 Margin $ 3.15 $ 3.80 $ 5.00 Firm Revenue in $ $ 5.85 $ 5.70 $ 5.00 % of Rec. Retail Price 58.5 % 57.0 % 50.0 %54 www.Office2go.dk
  55. 55. Managing your firm in the Markops Online world55 www.Office2go.dk
  56. 56. Your mission IMPROVE CONSUMER WELL-BEING THROUGH INNOVATIVE PRODUCTS AND SERVICES AND MAXIMIZE SHAREHOLDER VALUE56 www.Office2go.dk
  57. 57. You are responsible for designing and implementing the marketing strategy of your firm •Product portfolio strategy – Which brands the company is going to develop and market •Segmentation and positioning strategy – Which market segments will be targeted – How products will be positioned •Marketing mix strategy – Day-to-day operational marketing decisions – Pricing, production, communication, distribution, …57 www.Office2go.dk
  58. 58. Data is available on Consumers, Firms, Brands... It is up to you to prioritize, digest and interpret them Strategic Data Information Options58 www.Office2go.dk
  59. 59. Use the Semantic Scales study and the relevant Brand Map to decide on advertising content High Nutrition This is the Brand Map available in the Semantic Scales study Low High Performance Performance Brand COCOA is perceived as having less nutrition than its direct competitor TANG. Use positioning decisions to close these Low Nutrition gaps59 www.Office2go.dk
  60. 60. Positional strategy – Markops60 www.Office2go.dk
  61. 61. Today’s subject Marketing Audit: 1. Understanding the organisational resource base 2. Forecasting future demand and market requirements61 www.Office2go.dk
  62. 62. Nothing more for today Husk Deadline for grupper I Markops 24 sept! Jacob Holm Tlf: 24 42 11 32 Email: jacob@movement.dk www.office2go.dk62 www.Office2go.dk
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