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Concept 2:
Value Chain
• Every firm is a synthesis of activities performed to
design, produce, market, deliver, and support its
product.
• To examine its costs and performance in each value-creating
activity and look for ways to improve it
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Concept 4:
Holistic Marketing
“integrating the value exploration, value
creation, and value delivery activities with
the purpose of building long-term, mutually
satisfying relationships and coprosperity
among key stakeholders”
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Concept 5:
Strategic Planning
• Successful marketing thus requires
capabilities such as understanding,
creating, delivering, capturing, and
sustaining customer value.
Marketing plan
- Central
instrument for
directing and
coordinating the
marketing effort
- Strategic vs tactical
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Concept 7:
Define the corporate mission.
focus on a limited number of goals
stress the company’s major policies and values
Define the major competitive spheres within which
the company will operate
Take a long-term view
Short, memorable, and meaningful
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Concept 11:
Partner Relationship Management
• Ability to form and manage
partnerships
• Finding partners that might
complement a company’s strengths
and offset their weakness
– Kotler: Vodafone
– Local:
– Medical:
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Concept 13:
Feedback and Control
• What is better, to the right thing or to do things
right?
• Once an organization fails to respond in a
changing environment, it becomes increasingly
hard to recapture its lost position.
– Kotler: KB Toys
– Local:
– Medical
• Key to org. health: willingness to examine the
changing env’t and adopt new goals &
behaviors
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Concept 14:
Marketing Plan
– Written document summarizing what the marketer
has learned about the marketplace & indicates
how the firm plans to reach its objectives
– Customer- and competitor-oriented, better
reasoned, more realistic
Executive summary and TOC
Situation analysis
Marketing strategy
Financial projections
Implementation controls
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Concept 15:
Role of Research & Relationships
• Research
– Up-to-date info about the env’t, competition,
selected market segments
– Measures progress toward obectives and identify
areas for improvement
– Helps marketers learn more about the customer
• Relationships
– Influences how employees work with each other
– Affects suppliers, distributors, partners
– Influences company dealing’s with other
stakeholders
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Concept 16:
From Marketing Plan to Action
• Yearly marketing plan
• Well advanced planning to allow
time for marketing research,
analysis, management review,
coordination
• Must be able to measure progress
towards the objectives
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• The value delivery process includes choosing (or
identifying), providing (or delivering), and communicating
superior value. The value chain is a tool for identifying
key activities that create value and costs in a specific
business.
• Strategic planning for individual businesses includes
defining the business mission, analyzing external
opportunities and threats, analyzing internal strengths
and weaknesses, formulating goals, formulating strategy,
formulating supporting programs, implementing the
programs, and gathering feedback and exercising
control.
• Each product level within a business unit must develop a
marketing plan for achieving its goals. The marketing
plan is one of the most important outputs of the
marketing process.
SUMMARY
*with informed buyers and abundant choices, superior value is key
*smart competitor must design and deliver offerings for a well defined target market
3 phases of value creation & delivery sequence:
STP = homework & essence of marketing
Determine specific product features, prices and distribution
Utilizing sales force, internet, advertising, etc to announce and promote the product
Process starts before there is a product, continues through dev’t, and after the launch
Example:
PRIMARY ACTIVITIES
Inbound logistics = bringing mat’ls into the business
Operations = converting mat’ls into final products
Outbound logistics = shipping out final products
Marketing = sales
Service
SECONDARY ACTIVITIES
Procurement
Technology Development
Human Resource Management
Firm infrastructure
How a company identifies new value opportunities value exploration
How a company efficiently creates more promising new value offerings value creation
How a company uses its capabilities and infrastructure to deliver the new value offerings more efficiently value delivery
--These companies focus on the customer and are organized to
respond effectively to changing customer needs. They all have well-staffed marketing departments, and their other departments accept that the customer is king.
-Strategic = Lays out the target markets and the firm’s value proposition
-Tactical=Specifies the marketing tactics: product features, promotion, merchandising, pricing, sales channels, service
What is our business? Who is our customer? What is of value to the customer? What will be our business be?
A target market definition tends to focus on selling a product or service to a current market.
strategic market definition,
however, also focuses on the potential market. If
Strategy= the creation of a unique and valuable position
‘do the right thing’ = effective vs ‘do things right’ = efficient
Provides direction for a brand, product, or company, fundraising, outreach efforts, etc
