Innovative Marketing Strategy

Topics: Marketing, Strategic management, Marketing plan Pages: 144 (40139 words) Published: August 25, 2013
‘Bring in the voice of the customer’, ‘understand what your customer wants’ are now common sense. How though to find out what your customer wants when there is no customer yet, which is the case in highly entrepreneurial and

innovative cases?

Marketing Innovation
The Innovation Challenge

Michael Ehret Kostas Galanakis

Table of Contents Table of Figures _____________________________ iv Table of Tables ______________________________ vi Summary __________________________________ 2 1 1.1 1.2

Introduction: Marketing-Innovation Challenge __ 3
Marketing and Innovation ______________________________________________ 4 Module Objectives ____________________________________________________ 6

2

Marketing – Creating and Capturing Customer

Perceived Value _____________________________ 7
2.1 2.2
2.2.1 2.2.2 2.2.3 2.2.4

Market-based strategy: Using Marketing in the strategy process _____________ 13 Marketing Strategy and the Marketing Mix ______________________________ 18 Marketing analysis _________________________________________________________ 19 Marketing Planning ________________________________________________________ 20 Marketing Implementation __________________________________________________ 22 Marketing Control _________________________________________________________ 31

2.3
2.3.1 2.3.2 2.3.3 2.3.4

Marketing Instruments _______________________________________________ 32 Product – Customer Solution _________________________________________________ 35 Price – Customer Cost ______________________________________________________ 40 Place – Customer Convenience _______________________________________________ 42 Promotion – Customer Communication ________________________________________ 44

2.4

The Marketing Plan __________________________________________________ 46

3
3.1 3.2

Innovation-Marketing Challenge ____________ 49
Disruptive innovation and marketing’s innovation failure ___________________ 50 The Marketing Process and Innovation – Insights from Entrepreneurship Theory ___________________________________________________________________ 56 3.3 The rise of business models as a response to the innovation challenge _________ 58

CREATIVE TRAINER module: „Innovation Marketing“ 3.4 Marketing and business models_________________________________________ 69

4
4.1

Marketing in the Entrepreneurship Process____ 72
Transforming Business Models to Marketing Strategy _____________________ 75 Defining the Value Proposition (Product Policy in an innovative environment)__________ 75 Designing and quantifying revenue generation mechanisms _________________________ 80 Design of the Resource base and Value network__________________________________ 83

4.1.1 4.1.2 4.1.3

4.2 4.3

Marketing in the Exploration Phase _____________________________________ 85 Marketing in the Exploitation Phase_____________________________________ 87

5

Marketing Innovation Plan ________________ 92

Source directory ____________________________ 94 Internet links _____________________________ 102 Appendix A. i. ii.

Mini E ________________________ 103

History ______________________________________________________________ 104 Specifications _________________________________________________________ 104 Powertrain ____________________________________________________________________ 104 Charging ______________________________________________________________________ 105 Performance ___________________________________________________________________ 105 Production ____________________________________________________________________ 105

iii.

Field trial program ____________________________________________________ 106 U.S. program __________________________________________________________________ 106 European program _____________________________________________________________ 107

iv. v.

Field test experience ___________________________________________________ 108 UC Davis study...

References: Turrentine, Thomas S., Dahlia Garas, Andy Lentz, Justin
Woodjack (2011)
a b c d e
Tom Murphy (2010-05-19)
Joe Lorio (May 2010). "Green: Rich Steinberg Interview".
Automobile Magazine. Retrieved 2010-06-12. 4. ^ "BMW and UC Davis Partner on MINI E Study". Green Car Congress. 2009-08-14. Retrieved 2009-12-25. 5. ^
a b c d
a b c
Peter Whoriskey (2009-12-24)
concerns keep electric cars far from mainstream". Washington Post. Retrieved 2009-12-25. 7. ^ Abuelsamid, Sam (2008-10-18). "LA Preview: Officially, official: the MINI E!". Autobloggreen.com. Retrieved 2010-12-30. 8. ^
a b
MotorAuthority. Retrieved 2009-10-17. 9. ^ Taylor III, Alex (March 30, 2009). "Bavaria 's Next Top Model". Fortune 159 (6): 102. 10.^ "MINI USA: MINI E spec sheet (PDF)" (PDF). Retrieved 2010-1230. 11.^ Press release from AC Propulsion[dead link] 12.^
a b
John O 'Dell (September 2009). "BMW Learing Lessons From
Mini E Tes"
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CREATIVE TRAINER module: „Innovation Marketing“ 14.^ Edgju (2009-07-25)
a b c
Chris Wright (2010-06-03)
Lawrence Ulrich (2010-03-25). "Gas-Pump Freedom
(Restrictions Apply)"
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