Smm - Part1

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Strategic Marketing Management
Student Handout # 1

Anurag Dugar - SIBM, Pune

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Strategic Marketing
Introduction, evolution and context

Anurag Dugar - SIBM, Pune

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Difference??
• • • • Strategic Management Marketing Management Strategic Marketing Marketing Strategy

Anurag Dugar - SIBM, Pune

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Organizations
BOD CxOs Divisional / Functional Heads Senior Managers Junior Managers Executives Anurag Dugar - SIBM, Pune 4

Organizations
Holding Co. Business 1 Business 2 Business 3

Function 1

Function 2

Function 3

Function 1

Function 2

Anurag Dugar - SIBM, Pune

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Concept of SBU
SBU 1.0 and SBU 2.0

Anurag Dugar - SIBM, Pune

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Business Model
How is different from a ‘Revenue Model’? Is Business Model = Business Plan/strategy? Business Models that clicked & failed Anurag Dugar - SIBM, Pune 7

Business Model
• Who is the customer? • How do we provide value to him? (CVP)

• How do we make money while doing the above?
• What are our key resources & / or key processes that will help us in gaining sustainable competitive advantage? Logic, data and other evidence that supports the CVP – and – structure of revenues and costs --- can be included Anurag Dugar - SIBM, Pune

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Purpose of business Business Resources

Scope of business

Objectives of business
Business Initiatives

Strategic Management
Anurag Dugar - SIBM, Pune 9

How to compete
Product Market Strategy

With whom to compete

When to compete

Where to compete Analysis & planning

Strategic Marketing
Understand the Anurag Dugar - SIBM, Pune environment
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Environment

Corporate

Strategic Mgt

Business 1

Business 2

Strategic Mktg

Function 1

Function 2

Function 1

Operational Mktg

Anurag Dugar - SIBM, Pune

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Why do we need strategic marketing?
• Marketing as a function is usually not abreast of realities of costs and supply side conditions • Strategic management, without a sound appreciation of demand considerations in product markets might lead to ill suited strategies

• Marketing might not have understanding of other functions (lateral broadening) • Marketing might not have understanding of financial implications on business (vertical broadening) Anurag Dugar - SIBM, Pune 12

Some more terms…
• Competitive advantage • Core Competency • Marketing Research, Marketing Intelligence & Marketing Information System

Anurag Dugar - SIBM, Pune

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Why some businesses flourish, while others don’t?
Indigo versus Air India versus Kingfisher Time versus Readers Digest Canon versus Nikon versus Kodak Anurag Dugar - SIBM, Pune 14

Strategy Making – Strategy Execution Process

Strategic Intent

Objectives

Strategy

Execute

Monitor

Evaluate

Revise in light of actual performance or based on requirement arising from changing environment Anurag Dugar - SIBM, Pune

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Vision
An unachievable dream
Many times its difficult to describe dreams Motivator / Inspiring Anurag Dugar - SIBM, Pune 16

Defining ‘Vision’
• Description of something (organization, business, technology etc) in the future – Kotler

• Environment that an organization/individual aspire to create within a broad time horizon – El-Namaki • Intentions that broad, all encompassing and forward looking – Miller and Dess Anurag Dugar - SIBM, Pune

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Why Vision?
• Motivates / inspires • Guides / directs • Creates a common identity / shared sense of purpose • Foster long term thinking • Reflect on integrity Anurag Dugar - SIBM, Pune 18

Vision Statements – the Do’s
• Reflect values and principles • Ultimate priorities • Puller into the future • Focused yet flexible • Directional • Memorable Anurag Dugar - SIBM, Pune 19

Vision Statements – the Don’ts
• Vision is not an advertising slogan
• Vision is not a strategy • Vision is not about a glorious past or today

• Should not be passionless
• Should not be generic • Should not go on and...
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