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Block 1 Session 4: Marketing – Setting the scene, 4.2 Reading 1: The…

- - - - e.g social medis
- - - - new approach
  - - - device products to fill the needs
    - - to capitalise on a big idea
    - - to assume/maintain leadership
- - - - differentiate!!!
- - - - activities, knowledge or advice,
      - entertainment, facilities and services in exchange for time, effort or labour,
      - alternatives and sometimes money
- - - - formulate offering
- - - - attracts
      - builds
    - - competition
  - - - goods
      - price
- - - - (Wilson and Gilligan, 2005, p. 280):
      - . be specific enough to guide staff’s behaviour
      - . be based on fulfilling customers’ needs and satisfaction rather than on the products’ characteristics
      - . encapsulate the organisation’s key skills
      - . signal opportunities and threats
      - . be achievable
      - be adaptable
    - - meet needs of environment
      - shifts in emphasis
    - - . the organisation’s heritage: its performance record and ownership history
      - . its leaders’ values, preferences and expectations
      - . environmental factors, particularly opportunities and threats
      - . available resources
      - . distinctive competencies.
    - - HR
        
        hiring correct staff
  - - - guided by vision of futiure
      - sets stage for innovation
  - - - = sum of benefits expected
  - - - direct organistion
      - allocate support/resources
    - - pursues identified marketing opportunities
- - - - market needs
      - competencies of the firm
        
        do something well & efficiently
    - - SW ...... OT
        Internal/External
        
        globalisation
        
        opportunity
        
        threat
        
        crucial
        
        marketing strategy/programme
  - - - help to adapt
  - - - change in product
      - or change in competitors strategy/product
    - - gap analyisi
      - transfer focus to best suited/less gaps
      - scale back investment/extract profit
      - exit
- - - - start of business planning cycle
        
        . What are the strategic corporate goals?
        
        . What information is needed to achieve them?
        
        . What research is needed to deliver information?
        
        . Who will use it and how?
        
        . Did the information make a difference?
- - - - communicates findings
  - - - analyse
        
        make better business decisions
- - - - primary
      - secondary
    - - external
        
        miro
        
        macro
        
        public info
  - - - interpreted
- - - - data protection
- - - - key to success
    - - marketing
      - intermediaries, suppliers,
      - competitors and publics
        
        (Kotler and Armstrong 2016)
        seven types of publics: financial; media; government; citizen-action; local (neighbourhood); general; and internal (employees))
      - customers
        
        most important
        
        (Kotler and Armstrong 2016)
        5 types of markets
        
        consumer
        
        business
        
        reseller
        
        government
        
        international
  - - - wholesalers, retailers, agents, dealers and brokers
  - - - vital
      - disruptions
      - test
        
        shortages
        
        cost increases
        
        power imbalances
  - - - offer better value
      - guard customers
  - - - better
      - worse
- - - - present opportunities
      - e.g hello fresh
        
        lack of time
        
        unhealthy convenience foods
    - - strategic window
        
        e.g 3D printing
    - - e.g Xcercise for less
      - e.g portable electrocardiogram machine in india
    - - challenges
      - expetations
        
        recycable
      - innovation
        
        BMW - fuel efficiency
    - - changes in political parties
      - poitical figures
      - opportunities
        
        e.g d public-private
        partnerships (PPP)
      - threats
    - - legislation
      - regulation
      - strategic window
        
        utilise resource
        
        e.d data protection act
        
        e.g food allergen labels (2014)
        
        threats/opportunities
        for some companies
    - - consumer awareness
      - opportunity
        
        meet demands
      - e.g products that have ethical certification
- - - - only 1 x org can hold
      - restricts profits
    - - very important
    - - specialising / niche market
    - - difficult to achieve all 3
  - - - direct
      - new entrants
      - substitutes
      - other competitive forces
      - take a broad view
        
        who do customers see?
      - what are their SWOT
    - - uncovers influential forces
      - strengths
      - weaknesses (re compettion)
      - see note book for e.g pf model
      - dampen prospects of making profit
        
        suupliers
        
        exert power
        
        customers
        
        shop around/ prevent prices being raised
        
        new entrants
        
        competition
        
        intense rivalry
        
        substitutes
        
        need to differentiate or prove quality
      - understand structure
        
        less vulnerable
        
        importance of forces varies across industries
  - - - competitors
      - resources
      - capabilities
      - customers
      - environment
    - - Step Action
      - 1 Identify the offering’s market segments
      - 2 Establish the offering’s desired and demanded attributes for each customer segment
      - 3 Determine which of these attributes the organisation offers
      - 4 Determine which of these attributes the organisation’s competitors offer
      - 5 Consider what customers perceive competitors’ genuine strengths to be
      - 6 Identify any gaps between customers’ expectations for the offering and their perceptions of competitors’ marketing programmes
      - 7 Ascertain whether the organisation can fill any of these gaps to achieve differential advantage
      - 8 Assess whether the organisation can emphasise this differential advantage through its marketing programmes
      - 9 Consider whether the organisation can sustain this differential advantage or whether competitors could readily copy it
      - 10 If there are no current gaps, explore whether any differential advantage could be developed
      - 11 Pinpoint any changes the organisation needs to make to its research and development, engineering or marketing activities to make the most of any identified existing or potential differential advantage