Dongseo University Division of Business Administration Marketing Strategy Course Description (Goals & Objectives): Goals of course: : These days, business are facing unlimited competition to survive in the rapidly changing environment. Businesses are now required to have competence to establish strategies to lead the market and put the strategy into practice, taking one step further from having a market (customer)-oriented strategy. In short, each and every business is now facing the era of survival of the fittest where only strong companies survive and weak ones are eliminated. Against this backdrop, the goal of this course is to provide fundamental understanding on the marketing strategy. Numerous businesses are applying numerous marketing strategies, and there is no absolute principle that guarantees success of a strategy. The lecture will focus on figuring out the meaning of marketing strategy by understanding basic theories on marketing strategy and thinking about how to apply the theories to business practice. Course overview : The class will consist of following content, mainly focusing on marketing strategy. - Strategic market management - Customer analysis - Competition and industry analysis - Strategy establishment - How to consistently secure competitive advantages - Strategy based on competitive advantages - Market segmentation, target market selection and positioning - Establishment and management of brand asset - IMC - Marketing mix strategy - Marketing strategies for pioneers and latecomers
- Offensive and defensive strategy - Marketing strategy for CRM - Offensive and defensive strategy - Marketing strategy for CRM - Marketing strategy in a digital era Course Outline: Week 1 Chapter 1. Strategic market management 1. What is a strategy? - Strategy as a plan - Strategy as a pattern - Strategy as a position - Strategy as a point of view 2. Hierarchy of strategies - Strategy at business level - Strategy at division level - Strategy at product and brand level 3. Framework of marketing strategies - Marketing strategy by strategic situation analysis - Marketing strategy by competitive advantages - Marketing strategy by STP - Marketing strategy by competitive dynamics Week 2 Chapter 2. Customer analysis 1. Definition of product and market - Definition of business - Definition of division and product - Definition of market 2. Change of marketing paradigm 3. Market orientation - Definition
- Market-leading strategy - Market creation strategy 4. Analysis on market attractiveness - Market size - Market growth rate - Market profitability - Cost structure - Distribution structure - Core success factor 5. Customer orientation 6. Analysis on attractiveness of customers Week 3 Chapter 3 Analysis on competition and industry 1. Definition of competitiveness and industry - What is competition? - What is an industry? 2. Industry analysis - Threat posed by late entrants - Power of consumers - Power of suppliers - Alternate products - Competition intensity in the industry 3. Strategic group and generic strategies 4. Maintaining competitive advantages in product life cycle - Introduction - Growth - Shake-out - Maturity - Decline 5. Analysis factors of a competitor - Characteristics of generic appearance - Image and positioning
- Competitor s purpose and will - Current and past strategies - Organization and culture - Cost structure - Barriers to exit 6. Co-opetition - Relationship between a company and competitors - Relationship between a company and complementors - Relationship between a company and suppliers - Relationship between a company and customers Week 4 Chapter 4. Setting up strategies based on SWOT analysis 1. Importance of SWOT analysis 2. Threats and opportunities - Market analysis - Customer analysis 3. Company s strong and weak points 4. SWOT matrix 5. Setting up marketing strategies through SWOT analysis - O/S strategy - O/W strategy - T/S strategy - T/W strategy Week 5 Chapter 5. How to consistently secure competitive advantages 1. What is a competitive advantage? 2. Virtuous cycle of competitive advantage 3. Asset as source of competitive advantage - Cost of raw materials and purchased - R&D - Scale and scope of facilities - Distribution coverage - Expenditures on advertising and promotion
- Number of service and salespeople - Customer base - Brand equity - Financial capacity and cost of capital 4. Competency as source for competitive advantage - Leadership - Human - Organization - Process Week 6 Chapter 6. Strategy based on competitive advantages 1. Proposal of competitive values 2. Operational excellence 3. Producer leadership - Provision of intangible consumption experience based on excellence of tangible products - Materialization of an idea into an innovative product in a short period of time - Fast product distribution 4. Customer intimacy 5. SCA - Marketing strategies utilizing competitive advantages - Marketing strategies to materialize value proposals of competitive advantage - 3 steps of SCA-based strategy Week 7 Chapter 7. Market segmentation, target market selection and positioning 1. Market segmentation and target market selection - Background of market segmentation - Process of market segmentation - Investigation of segmented market - Global market segmentation - Service market segmentation - Attractiveness of a market
- Market segmentation and selection of a target market 2. Positioning - Definition of positioning - Types of positioning - Positioning strategies Week 8 Mid-term examination Week 9 Chapter 8. Establishment and management of brand asset 1. What is a brand? 2. How to develop a brand 3. Brand asset management - Types of brand differentiation - Functional brands - Image brands - Experiential brands Chapter 9. IMC 1. Definition of IMC 2. IMC communication methods - Brand communication - Packaging communication - Hands-on experience marketing - Buzz marketing - PR communication - Hands-on experience marketing - Sports marketing Week 10 Chapter 10. Marketing mix strategy 1. Positioning and marketing mix - Ambiguous positioning
- Excessive positioning - Confusing positioning - Doubtful positioning 2. Product - Product positioning - Service positioning 3. Promotion - Purpose of consumer promotion - Types of consumer promotion - Types of distribution promotion 4. Strategy utilizing promotion - Strategies to increase customers loyalty for our products - Strategies to induce customers with a preference for other competing brands to switch the brand - Strategies for brand switchers - Strategies for price-sensitive consumers - Sales promotion strategies for non-users - Distribution and sales promotion strategy 5. Pricing strategy and positioning strategy - Association between price and quality - Reference price Week 11 Chapter 11. Marketing strategies for pioneers and late entrants 1. Meaning and necessity of competition strategy 2. Competition strategy of pioneers - Characteristics and strategic goals of early markets - Competitive advantage factors of pioneers - Marketing strategy of pioneers 3. Business management strategy for late entrants - Characteristics of mature markets - Competitive advantage factors of late entrants - Alternative marketing strategies for late entrants
Week 12 Chapter 12. Offensive and defensive strategies 1. Offensive strategy - Offensive strategy framework - Guerilla strategy - Flanking strategy - Frontal strategy 2. Defensive strategy - Defensive strategy framework - Competitive stance - Reaction - Weapons 3. Deterrence strategy - Deterrence strategy methods - Deterrence strategy s success factors Week 13 Chapter 13. Marketing strategy for CRM 1. Understanding of CRM - Advent of CRM - Definition of CRM - Purpose of CRM 2. Foundation of CRM - Understanding of customers - Customers and brand preference 3. Expansion of CRM concept - CRM and e-crm - CRM integration 4. CRM implementation and models - CRM implementation - CRM models
Week 14 Chapter 14: Marketing strategy in the digital era 1. Meaning of digital marketing - Convergence marketing - Interaction marketing - Mobility - Globalization - Small quantity batch production 2. Golden rule of online-offline marketing 3. Network marketing - Network marketing strategy utilizing network externality - Promotion strategy utilizing network - Customer retention strategy utilizing network 4. Analysis on digital marketing strategy roadmap 5. Mobile marketing strategy - Characteristics of mobile marketing - AD model 6. Integrated management of technology and brand convergence Week 15 Supplementary lecture Week 16 Final test Textbook(s): Marketing Strategy published by PAKYOUNGSA Class Website: e-class Course Assignments & Grading: Mid-term test 30 Final test 30
Attendance 20 Presentation 20