Strategie Marketing. Creating Competitive. Advantage. Douglas West, John Ford, and. Essam Ibrahim OXFORD UNIVERSITY PRESS

Transcription

1 Strategie Marketing Creating Competitive Advantage Douglas West, John Ford, and Essam Ibrahim OXFORD UNIVERSITY PRESS

2 Detailed Contents PARTI Introduction 1 Overview and strategy blueprint 3 LearningObjectives 3 ChapterataGlance 3 My life as a strategy planner 4 Introduction 6 Approaches to competitive marketing strategy 10 Thinking First 10 Seeing First 11 Döing First 12 Simple Rules 14 Postmodern 15 Which one to choose? 17 The book's framework 18 Marketing strategy blueprint 19 Things that can go wrong 21 Conclusion 21 Summary 22 Key terms 23 Discussion questions 23 Online Resource Centre 23 References and further reading 23 End of Chapter 1 case study. To eat or not to eat 24 2 Marketing strategy: analysis and perspectives 28 Learning Objectives 28 ChapterataGlance 28 Case study: Plymouth Citybus-another one rides the bus 29 Introduction 31 Marketing strategy in a changing environment 32 Strategy concept and definitions 33 Marketing strategy: nature and definitions 35 Marketing strategy development 37 Marketing strategy orientation 38

3 xii DETAILED CONTENTS Social media and intelligence gathering Marketing orientation and corporate success Competitive marketing strategy. various perspectives Flanning frameworks for making strategy The latest thinking: the uncomfortable zone of strategy Conclusion Summary Key terms Discussion questions Online Resource Centre References and further reading End of Chapter 2 case study. British Petroleum: can a tarnished brand recover following an ecological disaster? PART II Wherearewenow? 3 Environmental and internal analysis: market Information and intelligence LearningObjectives Chapter at a Glance Case study: Exodus's digital strategy Introduction The marketing environment and its components Strategie analysis of the external environment Strategie analysis of the macro (remote) environment Environmental uncertainty and scenario analysis Strategie analysis of the micro (competitive) environment Competitor analysis Competitive intelligence Customer behaviour analysis via social media network platforms The Strategie use of market research and the role of big data Strategie analysis of the internal environment Resource-based approach to internal analysis Value chain approach to internal analysis Evaluation of functional areas Performance analysis approach 'Strategie fit'-the conclusion of external and internal Strategie analyses The latest thinking: big data the new management revolution Conclusion Summary Key terms

4 xiii Discussion questions 98 Online Resource Centre 98 References and further reading 98 End ofchapter3 case study. Fage Yogurt: sustaining competitive advantage in a crowded market 100 PARTIM Wheredowewanttobe? 4 Strategie marketing decisions, choices, and mistakes 107 LearningObjectives 107 ChapterataGlance 107 Case study: Heineken Desperados-a sensational experience 108 Introduction 110 H ierarchy of Strategie choice and decisions 111 Strategie choice and decisions at the corporate level 112 Strategie choice and decisions at the SBU level 119 Strategie choice and decisions at the functional level 124 Marketing strategy 126 Marketing plan and its link to strategy 134 Strategy mistakes and organizational failure 135 The latest thinking: categorizingstrategie decisions 137 Conclusion 140 Summary 140 Key terms 141 Discussion questions 141 Online Resource Centre 141 References and further reading 142 End of Chapter4 case study. Luxury apparel brands in a recession market: a closer look at Michael Kors and Coach Segmentation, targeting, and positioning strategies 150 Learning Objectives 150 ChapterataGlance 150 Case study: Targeting children an ethical dilemma? 151 Introduction 152 Foundations for effective segmentation 153 Criteria for identifying segments 153 Geographie bases for segmentation 154 Demographic bases for segmentation 155 Psychographic bases for segmentation 159 Behaviouristic bases for segmentation 162

5 Cross-border segmentation and i nternational challenges 164 Strategie framework for segmentation 165 Segmentation tools 165 Targeting 167 Measuring effectiveness of target segments 168 Targeting improvement 169 Positioning 169 The positioning Statement 171 Perceptual mapping 172 Positioning and the importance of consistency 173 The latest thinking: real-time experience tracking and how to build superconsumers 174 Real-time experience tracking (RET) 174 The building of superconsumers 176 Conclusion 177 Summary 177 Key terms 178 Discussion questions 178 Online Resource Centre 179 References and further reading 179 End of Chapter 5 case study. Celebrity brands: a risky business Branding Strategie: 185 Learning Objectives 185 Chapter ataglance 185 Case study: Unilever Corporate branding for a consumer produets Company? Can Lynxand Dove beseen as appropriate underthe same brand umbrella? 186 Introduction 187 Branding and industry strueture 189 The complex nature of brands 189 Branding and functionality 189 Brand architecture: a Strategie Management framework 192 Industry cost strueture: brand efficiency and profitability 195 Consumer pereeptions of brands 199 Key brand assessmentvehicles for differentiation purposes: the brand wheel 201 Social media and branding 202 Lovemarks 205 The latest thinking: neuromarketing and sensory branding 207 Conclusion 208 Summary 208 Key terms 209 Discussion questions 210 Online Resource Centre 210

6 XV References and further reading 210 End of Chapter 6 case study. IKEA: global brand perspectives Relational and sustainability strategies 218 LearningObjectives 218 ChapterataGlance 218 Case study: Faux relationships-companies that go through the motions to build customer relationships only hurtthemselves in theend 219 Introduction 220 Relationship marketing in the B2C context 222 Suspects 222 Prospects 224 Customers 224 Clients 227 Supporters 229 Advocates 229 Partners 231 Customer love 232 Relationships and loyalty in B2B markets 233 Customer relationship management (CRM) 236 CRM pitfallsto avoid 238 Sustainability of relationships and competitive advantage 240 Judging sustainability 240 The latest thinking on customer relationships 241 Conclusion 242 Summary 242 Key terms 243 Discussion questions 244 Online Resource Centre 244 References and further reading 244 End of Chapter 7 case study. The relationship chain 246 PART IV How will we get there? 8 Product Innovation and development strategies 251 LearningObjectives 251 ChapterataGlance 251 Case study: Brands and the Red Queen Theory 252 Introduction 254 What is Innovation? 255 Disruptive business models 256

7 Disruptive producta 259 NPD(newproductdevelopment) 261 Process 261 Toolkit strategy 262 Systematic inventive thinking 263 Market preparation and branding 265 Product rollovers 265 Solo-product roll 266 Dual-product roll 266 Disruptive technologies 267 Rogers' perspective 267 Moore's perspective 268 Crossing the chasm 269 Two marketing campaigns 271 Horizons ofgrowth 272 Ifyou aren't the market leader 272 Innovation 'modes' 274 Isolate mode 274 Followmode 275 Shapemode 275 Interaction mode 275 Strategie choice 276 Customization 276 Elicitation 277 Process flexibility 277 Logistics 277 Inventory 278 The car industry 278 Implementing customization 278 Conclusion 279 Summary 280 Key terms 280 Discussion questions 280 Online resource centre 281 References and further reading 281 Key article abstracts 282 End of Chapter 8 case study. Amazon instant Video Service marketing Strategie: 289 Learning Objectives 289 Chapter at a Glance 289 Case study: India's Mumbai dabbawalas bring new meaning to Service excellence 290 Introduction 291

8 XVÜ The distinctive natura of services 292 Intangibility 292 Heterogeneity 293 Inseparability 293 Perishability 294 The 7Ps of services 294 Customer experience strategies 295 SERVQAL: noeasuring the quaiity of the customer experience 295 Service-dominant logic: enhancing the customer experience through the customer asco-producer 297 Service delivery as drama 298 The stage: servicescape 300 The actors: Service personnel interactions with each other 300 The audience: customer interactions during the Service experience 301 Great Performances and emotional engagement 301 Operational efficiency and profitability 303 Streamlining and cost cutting 303 Creative Strategie aliiances 306 Effect of Internet/digital/technology on expectations 308 Customer value and sustainable competitive advantage 312 Relationship building with customers 313 Customer Service as a basis for differentiation 314 The latest thinking: the Chief Experience Officer 315 Conclusion 316 Summary 316 Key terms 317 Discussion questions 318 Online Resource Centre 318 References and further reading 318 End of Chapter 9 case study. United Parcel Service: Courier and express delivery services Pricing and distribution strategies 324 Learning Objectives 324 ChapterataGlance 324 Case study: Two pieces of the marketingjigsaw-pricing and distribution 325 Introduction 328 Pricing 329 Definition 329 Strategie mindset 330 Strategie options 331 Dolan's eight options 331 Maintaining price points 334

9 Online pricing 335 New product pricing 338 Implementing pricing strategy 338 Human capital 338 Systems capital 339 Social capital 339 Distribution 339 Definition 339 Buyer's perspective 340 Navigation 342 Distribution options and principal channels-buyer's perspective 344 Multi-channel marketing 347 Value proposition 347 Organizational structures and incentives 349 Create metrics 349 Grey marketing 349 Price and distribution strategies meet 350 Market leader 350 Market challenger 351 Market follower 351 Market niche 352 Conclusion 353 Summary 353 Key terms 354 Discussion questions 354 Online Resource Centre 355 References and further reading 355 Key article abstracts 356 End of Chapter 10 case study. Uniqlo: the nextten years Marketing communications strategies 362 LearningObjectives 362 Chapter ataglance 362 Case study: A CRISP approach to brand and communications strategy 363 Introduction 365 Shift from push to pull 368 Services 371 Communities 371 MARCOMS Strategie process 374 Audit 374 Establishing the strategy 375 Target market 380

10 xix Position 380 Creative strategy 380 Operations 385 Creative execution 385 Media execution 386 Measurement 387 The latest thinking: lean advertising 389 Conclusion 389 Summary 390 Key terms 390 Discussion questions 390 Online resource centre 391 References and further reading 391 Key article abstracts 392 End of Chapter 11 case study. Cookie turns 100: how a successful heritage brand Updates the product, packaging, and advertising International marketing strategy 401 LearningObjectives 401 ChapterataGlance 401 Case study: HSBC Expat 402 Introduction 404 International marketing strategy 405 International marketinganalysis 407 International marketing choices and decisions 412 Choice offoreign countries and markets to enter 412 Choice of generic strategy for foreign countries 415 Choice offoreign Investment (entry) modes 416 International marketing mix strategies 421 International product decisions 422 International pricing decisions 425 International distribution decisions 426 International marketingcommunication decisions 427 Social media and international marketing strategy 429 The latest thinking: 'guarded globalization' 432 Conclusion 434 Summary 434 Key terms 434 Discussion questions 435 Online Resource Centre 435 References and further reading 436 End of Chapter 12 case study. Branding Las Vegas international^ 437

11 XX DETAILED CONTENTS 13 Social and ethical strategies 441 LearningObjectives 441 Chapter at a Glance 441 Case study: Watch out in the afternoon when the moral slope gets slipperier 442 Introduction 443 The firm and its role in society 444 The nature of the firm's stakeholders 444 Social marketing 445 Corporate ethics and ethical codes of conduct 448 Corporate social responsibility (CSR) 449 Greenwashing 454 Moving CSR from compliance to Strategie imperative 455 The virtue matrix 457 Issues related to new media: privaey, security, etc. and their relation to strategy 460 The latest thinking: UPS and sustainability, and making cause marketing work 461 UPSandsustainability 461 Making cause marketi ng work 462 Conclusion 463 Summary 464 Key terms 464 Discussion questions 465 Online Resource Centre 466 References and further reading 466 End of Chapter 13 case study. Nespresso's sustainability challenge 467 PARTV Did wegetthere? 14 Strategy Implementation, control, and metrics 477 Learning Objectives 477 Chapter at a Glance 477 Case study: The problems of implementing, Controlling, and measuring marketing strategy 478 Introduction 482 The Implementation of marketing strategy 483 Marketing budget 487 Controlling marketing strategy 488 Organization 488 Culture 489 Strueture 490 Metrics 495 Sources of competitive advantage 495 Performance outcomes 496

12 Financial measures 496 Key issues 496 Market share 500 Customer equity 501 Customer lifetime value 501 From CLTV to customer equity 508 Conclusion 509 Summary 510 Key terms 510 Discussion questions 511 Online resource centre 511 References and further reading 512 Key article abstracts 513 End of Chapter 14 case study. Social media Impact on a brand Launch at PepsiCo 515 End of book cases 519 End of book case I 519 End of book case II 526 Endof book case III 533 End of book case IV 541 Index 553