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PIERCY BRIGETTE
NICOULAUD
Market-led strategic
management
Introduction
Marketing, centering on identifying
and satisfying customer
requirements at profit
In greyser terms, marketing
migrated from being functional
discipline to how business should be
run
More than paying lip service to
marketing
6-2
DOYLE DISTINGUISHES
BETWEEN THE
FOLLOWING
6-3
Radical strategies
Companies achieve spectacular
growth in sales and profits without
building customer value through
superior products
Acquisition based
Marketing department based (High level
of advertising, proliferating product
lines)
Public relations based (media hype to
attract customers)
6-4
Rational strategies
High short term performance through
products cheaper than traditional
competitors
Major innovations in technology,
marketing methods or distribution
channels
Amstrad in electronics, and personal
computers (PCs), sock shop in specialty
retailing
6-5
Robust strategies
Companies achieve steady
performance over long period by
creating superior customer value and
building long-term customer
relationships.
Superior customer value, long-term
investments in relations with suppliers,
distributors and offer long-term
advantage
6-6
WEBSTER PROPOSES
MARKETING AS A SET OF
PROCESSES
6-7
Value-defining processes
Processes that enable the
organization to understand its
environment in which it operates
better (understand resources and
capabilities)
Such as market research, buying
behavior, product use and so on
6-8
6-9
Value-delivery processes
Processes that enable the delivery of
value to customers
Service delivery, customer relationship
management, management of
distribution and logistics,
communication processes (such as
advertising and sales promotion) and
customer support services etc.
6-10
Definition of marketing
Definition from Ferrell and Lucas
(1987):
Marketing is the process of planning
and executing the conception,
pricing, planning and distribution of
ideas, goods and services to create
exchanges that satisfy individual and
organizational objectives.
6-12
Figure 1.1
Providers
Providers
goals
goals
Survival
Survival
Financial
Financial
Social
Social
Spiritual
Spiritual
Offers
Services, products
customers &
providers satisfaction
Responses
Purchases, support
Customers
Customers
goals
goals
Solutions
Solutions
Benefits
Benefits
Well-being
Well-being
6-13
Marketing concept
Marketing involves the following:
organisational culture: set of values and
beliefs for the organisation to serve
customers needs
strategy: develop effective responses to
changing market environments by
defining market segments, and
developing and positioning product
offerings for targets
tactics: concerned activities of product
management, pricing, distribution
and
6-14
Market orientation
Philosophy of marketing into reality
Definition from Kohli and Jaworski
(1990):
Market orientation are activities toward
developing an understanding of
customers current and future needs.
6-15
Competitor orientation
Awareness of the short-long term competitors
capabilities
Interfunctional co-ordination
Using all resources to create value for
customers
Organizational culture
Linking employee and managerial behavior to
6-16
customer satisfaction
Figure 1.2
Customer
orientation
Competitor
orientation
Market-led
organizational
culture
Interfunctio
nal
cordination
Focus on the
long term
6-17
6-19
Customer-led marketing
Under this approach organisations
chase their customers at all costs.
The retailers react by giving
customers more choice, heavy
promotions and deals to stimulate
purchases, and aggressive sales
force targets.
Customers get confused because of
the over complex promotions.
6-20
Figure 1.3
Marketing approaches
Market
Market needs
needs
Customer-led
Customer-led
marketing
marketing
Customer-led
Customer-led
marketing
marketing
Customer-led
Customer-led
marketing
marketing
Organizational
Organizational capabilities
capabilities
6-22
Figure 1.4
Organizational stakeholders
Customer
s
Sharehold
rs
Distributo
rs
Focal
Organizat
ion
Managers
Suppliers
Employee
s
6-23
Contribution of marketing to
stakeholders objectives
Firms that do well in marketplace
also do well financially
Adding value of firm for shareholders
Firm adopting market-oriented
culture perform better financially
than those that do not
6-24
Figure 1.5
Marketing
Marketing
resources
resources
MarketMarketoriented
oriented
culture
culture
Assets
Assets
capabilit
capabilit
ies
ies
Market
Market
performance
performance
Custome
Custome
rr
satisfacti
satisfacti
on&&
on
loyalty
loyalty
Financial
Financial
performance
performance
Sales
Sales
volume
volume
market
&&market
share
share
6-25
Marketing fundamentals
Set of basic and pragmatic marketing
principles that guide marketing
thought and action
Follow logic of value-based processes
described by webster
Their applications can revolutionize
how organizations respond to,
interact with, their customers
6-26
6-28
Principle 3: Customers do
not buy products
Customers do not buy products ,
they buy what the product can do for
them the problem it solves
6-29
6-30
6-31
Figure 1.6
6-33
6-34
Figure 1.7
Identify
Identify and
and communicate
communicate customer
customer wants
wants and
and
needs
throughout
the
organization
needs throughout the organization
Determine
Determine the
the competitive
competitive positioning
positioning to
to match
match
the
the needs
needs of
of the
the customers
customers with
with company
company
capabilities
capabilities
Marshal
Marshal all
all relevent
relevent organisational
organisational resources
resources to
to
deliver
customer
satisfaction
deliver customer satisfaction
6-35
Identification of customer
requirements
Identity and communicate customers
want and need throughout the
organisation
Identify the requirements of
customers and communicate them
effectively; who the customers are
and what will give them satisfaction
or create customer delight
Customers expectations, wants and
need must be understood and
6-36
6-37
6-38