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Week #1
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Module
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This week, we introduce your instructor and lay the foundation for this course. We define key terms, identify market orientation components, and outline technological advances. We also discuss the importance of time in the marketing strategy.
After completing this lesson, you should be able to:
- Name the components of a marketing strategy
- Identify the importance of time, the mission statement, and technology in strategy development
- Define market orientation
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Lecture
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Introduction
Take a moment to meet your instructor and get to know a little bit about his background. What one main factor does he notice that's missing in small businesses?
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Lecture
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Understanding Marketing Strategy
In this lecture, we define terms, explore the role of time and mission, determine the importance of market orientation, and review the complexities of strategy development.
- Graphics in the lecture
- Figure 1.2 Components of market orientation
- Figure 1.3 A conceptual framework for a market-driving strategy
- Figure 1.4 The rational marketing planning process
- Figure 1.5 The Johnson and Scholes marketing planning framework
- Figure 1.7 The Ashridge mission model
- Figure 1.8 The time pentagon
- Figure 1.9 Strategic marketing planning
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Week #2
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Module
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In this lesson, we determine how to use internal resources, recognize the uncontrollable environment, define various strategic models, reveal how strategic models help us to simplify the complex, and explore technology's role within strategic models. We also pinpoint marketing segmentation factors and postmodern factors.
After completing this lesson, you should be able to:
- Identify the importance of utilizing internal resources and striving to understand the uncontrollable environment
- Identify some of the major strategic models
- Define the role of technology in the standard strategic models
- Name the criteria for segmentation
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Lecture
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Strategic Models and Segmentation
What are market segmentation factors? In this lecture, we focus on strategy and the use of models as a simplification tool. We define the role of technology in the strategic models and review segmentation for target marketing.
- Graphics in the lecture
- Figure 2.7 Porter’s five forces model of industry analysis
- Figure 2.8 The influence of technology on the five forces identified by Porter
- Table 2.2 Product lifecycle stages
- Figure 2.3 BCG product portfolio matrix
- Figure 2.4 The typology of new product users
- Figure 2.9 the GE/McKinsey business screen
- Figure 2.10 Directional policy matrix
- Figure 2.11 Growth Vector Analysis
- Figure 2.12 Centralized information system
- Table 2.5 Segmentation Criteria
- Table 2.9 Operational requirements for implementing customer-oriented strategies
- Table 2.7 The Warner index of social classification
- Table 2.8 The stages of the family lifecycle
- Figure 2.20 Postmodern marketing as a juxtaposition of opposites
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Week #3
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Module
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What is stakeholder management and why is it necessary? Throughout the week, we discuss these topics and recognize the significance of relationship development with stakeholders. We also explain why communication is so critical, review stakeholder theory, and discover how power, ethics, and trust come into play.
After completing this lesson, you should be able to:
- Name some institutional theories
- Name director characteristics and the roles that stakeholders can serve the company
- Identify why stakeholder management is necessary
- Identify the importance of communication
- Identify what factors influence stakeholder relations
- Define power and its role in relationship development with stakeholders
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Lecture
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Stakeholder Management
Who are the stakeholders and what is the competitive advantage to stakeholder management? In this lecture, we identify the organizational stakeholders, review how stakeholder management can be advantageous, and take a sneak peek at customer equity.
- Graphics in the lecture
- Figure 3.1 Stakeholder components
- Figure 3.3 Factors driving customer equity
- Table 3.2 The power of each stakeholder group
- Table 3.1 Key board roles versus director characteristics under three models of boards’ functions
- Figure 3.4 The company stakeholder system
- Table 3.3 Basic structure of the stakeholder model
- Figure 3.5 Organizational cycle and stakeholder strategies
- Figure 3.7 Competitive positioning and environmental factors
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Week #4
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Module
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We begin this week by defining green marketing and sustainability. During this lesson, we examine green consumer types, which can help with segmentation. We also discuss environmental marketing, review a mix of environmental concerns, and describe ecologically sound products. What are the challenges with consumption vs. conservation?
After completing this lesson, you should be able to:
- Define green marketing and sustainability
- Name types of green consumers
- Identify the challenges of consumption and conservation
- Identify ways to segment green customers
- Identify a process to produce ecologically sound products
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Lecture
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Sustainability and Green Marketing
What is green marketing? In this lecture, we explore green marketing, identify types of green consumers, explain the different types of green consumers, and enumerate environmental concerns.
- Graphics in the lecture
- Figure 4.4 Commerce and the oceans
- Figure 4.1 Evolution of population, household consumption and ecological footprint of the world (1960–2000)
- Figure 4.5 Outcomes for different scenarios of world economics 2000–2032
- Figure 4.6 Carbon dioxide emissions from all sources (billion tonnes carbon/year) 1970–2030
- Figure 4.7 Atmospheric concentrations of carbon dioxide (parts per million by volume) 1970–2050
- Figure 4.8 Global temperature change (°C per ten years) 2000–2050
- Figure 4.9 Green marketing
- Figure 4.11 Measuring the green policies of organizations
- Figure 4.18 Structure and networks influencing consumption patterns
- Figure 4.19 A sustainable lifestyles marketing model
- Table 4.2 Key LOHAS segments and industries
- Figure 4.20 Interrelated factors affecting green consumer behavior
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Week #5
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Module
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What are common hurdles and organizational obstacles when it comes to integrated marketing communications? We answer this question and find out how technology fits into the equation. We also review the seven evolutionary stages to implement integrated marketing communications, explore branding strategies, and determine how to enhance brand equity.
After completing this lesson, you should be able to:
- Identify the challenges and organizational barriers to IMC
- Define the role of technology in brand management and communication
- Identify the new characteristics of communication
- Identify the importance of timely dissemination
- Identify how to develop an IMC process
- Identify the functions of a brand
- Define brand loyalty and outline the adoption process
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Lecture
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Communicating Effectively – Part 1
In this lecture, we take a look at the new characteristics of communication, review integrated marketing communications in an online environment, and identify branding strategies.
- Graphics in the lecture
- Table 5.1 The new marketing paradigm shift determined by the Internet
- Figure 5.1 The ‘conflictual’ process of image formation
- Figure 5.2 Organizational barriers to implementation of the IMC concept
- Figure 5.3 Implementing the IMC concept using the seven evolutionary steps
- Figure 5.4 The three-dimensional application of the IMC concept
- Figure 5.5 Implementing the IMC concept in eight steps
- Figure 5.8 The brand as an interface between a company and its customers
- Figure 5.9 The historical evolution of brand function
- Figure 5.11 Brand strategy matrix
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Lecture
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Communicating Effectively – Part 2
Before we can communicate, we must be informed. The need for consistent information that is integrated and properly disseminated has led to the significant brand management role. Discover how to increase adaptation through cross-functioning.
http://www.bch.com/branding.htm, with permission from Bandy Carroll Hellige Advertising
Source: http://www.babsoninsight.com/contentmgr/showdetails.php/id/207, with permission from Research International and Earl Taylor
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Week #6
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Module
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What are the major factors that influence strategy implementation? We outline some pertinent aspects, both internal and external, that have an impact on marketing strategy implementation. We also discuss six technology deployment components and consider the relationship between marketing and information technology.
After completing this lesson, you should be able to:
- Name some internal and external factors influencing and determining the development and implementation of marketing strategies
- Identify some challenges of strategic implementation
- Analyze the pros and cons of pioneering and the strategies afforded to a market leader
- Identify the importance of technology systems and database management in the provision of market data
- Name the six components of technology deployment
- Identify whether the Marketing/IT relationship is fluid and dynamic in most firms
- Identify how technology supports relationship development and maintenance
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Lecture
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Implementation is the Key
In this lecture, we recognize some key factors that influence strategy development and implementation and discuss some of the greatest challenges. We also review strategies of market leaders.
- Graphics in the lecture
- Figure 6.1 Deliberate and emergent strategy
- Figure 6.2 The internal and external factors that influence and determine the
development and implementation of marketing strategies
- Figure 6.3 The bottom-top and the top-bottom methods of internal communication
- Figure 6.4 The representation method of participation in strategy development and implementation
- Figure 6.5 The direct participation route to strategy development and implementation
- Figure 6.6 Direct management intervention as a way of implementing a strategy
- Figure 6.7 Generic marketing strategies and the strength of the customer relationship associated with them
- Figure 6.9 Implementation of strategic change in the relationship with suppliers
- Figure 6.10 Assessing the competitive situation facing a firm in its market
- Table 6.3 The advantages and disadvantages of being pioneers and followers
- Figure 6.11 Strategies available to market leaders
- Figure 6.12 Strategies available to challengers
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Lecture
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Impact of Technology on Implementation
Does technology have a great impact on marketing strategy implementation? We discover the role of technology systems and database management, review the marketing and information technology relationship, and examine customer relationships.
- Graphics in the lecture
- Figure 6.15 IT strategies
- Figure 6.16 The benefits of an IT knowledge repository
- Figure 6.17 Digital loyalty network quadrant
- Figure 6.18 The three phases of CRM
- Figure 6.19 Current systems architecture
- Figure 6.20 Creating a relationship web
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Week #7
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Module
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What does it take to understand an organization's culture? What are the differences between organizational and individual learning? This week, we identify dimensions, values, and elements that encompass the organizational culture and discuss cultural fit. We also consider types of learning and learning systems.
After completing this lesson, you should be able to:
- Identify how to organize for marketing
- Identify the way tasks are distributed, understood, and executed
- Identify the role of intangibles, in particular organizational culture
- Name the visible and the invisible elements of organizational culture
- Name four dimensions and three values that can help one understand an organization’s culture
- Identify how to assess fit between individuals and firm from cultural standpoint
- Define organizational learning and differentiate between how an individual learns vs. the organization
- Identify two types of learning
- Identify six types of learning systems
- Identify the importance of organizational culture in organizational learning
- Recognize the exploration and exploitation mechanisms that must be in balance
- Recognize that certain structures encourage learning
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Lecture
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Organizational Culture and Organizational Learning
Tying into the concept of implementation, we explore the role the marketing department plays and how it is organized. We also discuss the intangible dimension of culture and review visible and invisible elements of organizations.
- Graphics in the lecture
- Figure 7.1 Organizational chart of the marketing function
- Figure 7.2 The visible and invisible elements of an organization’s culture
- Figure 7.3 Organizing: a multifaceted phenomenon
- Figure 7.4 Integration mechanisms
- Figure 7.6 The product-based marketing organization
- Figure 7.7 The geographically based marketing organization
- Figure 7.12 Describing organizational culture – Calori and Sarnin’s framework
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Lecture
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Organizational Learning
When it comes to organizational learning, how important is organizational culture? In this lecture, we find out the answer to this question, and recognize organizational learning effects. We also discuss learning types, learning systems, and the culture of learning.
- Graphics in the lecture
- Figure 7.14 How organizations learn
- Figure 7.15 The impacts of single- and double-loop learning
- Figure 7.16 Different types of learning systems
- Figure 7.18 The OADI process of individual learning
- Figure 7.19 From individual to organizational learning
- Table 7.2 Organizational memory subsystems
- Figure 7.20 The brain as a metaphor for the links between culture, memory,
and learning
- Figure 7.21 Exploration and exploitation of knowledge
- Table 7.3 Levels of MBL – manifestations and examples
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Week #8
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Module
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How is traditional marketing evolving? This final week, we focus on the latest trends in marketing and explore how customer roles and expectations are evolving. Discover the modern marketing model and how digital marketing, social marketing, and life-enhancing experiences fit in.
After completing this lesson, you should be able to:
- Identify marketing performance measures
- Name three major marketing attributes that performance measures should include
- Discuss the complexity of determining whether these attributes are sufficient
- Outline the role of brand equity and related measures
- Identify an integrated model of marketing performance
- Understand the concept of lifetime value
- Relate the importance of ethical and ecological metrics where possible
- Determine the suitability, appropriateness, and feasibility of a metric
- Discuss recent trends that illustrate the new role of customers and their expectations
- Identify how to be more efficient and effective in being customer-centric
- Outline how segmentation has changed
- Identify the importance of co-creation, co-production, and co-owning
- Identify the importance of life-enhancing experiences
- Identify how the traditional marketing system has changed to accommodate this highly involved customer
- Identify the details of flexibility required to satisfy customers
- Explain how this dynamism relates to changes in digital marketing
- Identify the role of social marketing in this increasing concern for ethical and ecological awareness
- Outline how these views result in a more modern model of marketing
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Lecture
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Measuring Effective and New Perspectives
What is lifetime value? How do performance measures work? In this lecture, we focus on measuring marketing performance and identify key attributes for performance measures, review brand equity, and determine lifetime value.
- Graphics in the lecture
- Figure 9.1 Key performance measures
- Figure 9.2 Maximizing resources
- Figure 9.4 Maximizing revenues for not-for-profit organisations and NGOs
- Figure 9.3 Seven-step process for measuring CLV
- Figure 9.5 The use of customer segmentation and customer satisfaction measurement for designing and implementing targeted marketing mix strategies
- Figure 9.6 A framework for screening marketing measures
- Figure 9.7 Grid for measuring suitability, acceptability, feasibility, and the TBL
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Lecture
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New Perspectives in Marketing and the Way Forward
What's next in marketing? In this final lecture, we look at current trends, review segmentation's transformation, outline the changes to traditional marketing, and explore a more customer-centric world.
- Graphics in the lecture
- Figure 10.1 The growth in customer-centric marketing
- Figure 10.2 Features of customer-centric organizations
- Figure 10.3 Achieving marketing efficiency and effectiveness
- Figure 10.4 Modified segmentation model
- Figure 10.5 The circuit of value in the classical model of marketing
- Figure 10.7 An integrated model of marketing system flexibility for effectively managing participation, interaction, and implementation processes with employees, consumers, and stakeholders
- Figure 10.8 The centrally controlled innovation model
- Figure 10.9 The open innovation model
- Figure 10.13 Online applications used by broadband and dial-up users
- Figure 10.14 Percentages of adult Internet users contributing to websites and/or blogs, by age group
- Figure 10.15 Users of web pages/blogs
- Figure 10.16 Categories of customers
- Figure 10.19 Ethical perceptual map of the current range of advertisements
- Figure 10.20 Ethical marketing criteria and competitive advantage
- Figure 10.21 Various layers of social influence affecting an individual’s decision to change his or her behavior
- Figure 10.25 Strategic marketing model for the twenty-first century
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