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Marketing Strategy : A Decision Focused Approach

by:
ISBN: 9780072961904 | 0072961902
Edition: 5th
Format: Paperback
Publisher: McGraw-Hill/Irwin
Pub. Date: 2/24/2005

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SummaryTable of ContentsAuthor Biography
Marketing Strategy 5/e is a flexible, short, paper-back text which can be used on its own or packaged with a case book. It covers the concepts and theories of creating and implementing a marketing strategy and offers a focus on the strategic planning process and marketing's cross/inter-functional relationships. This book helps the student integrate what they have learned about analytical tools and the 4Ps of marketing within a broader framework of competitive strategy.
... MORE
Prefacexiii
SECTION ONE INTRODUCTION TO STRATEGY
1(82)
Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies
3(28)
Strategic Challenges Addressed in Chapter 1
6(1)
Three Levels of Strategy: Similar Components but Different Issues
7(4)
What Is a Strategy?
7(1)
The Components of Strategy
8(1)
The Hierarchy of Strategies
8(1)
Corporate Strategy
8(3)
Business-Level Strategy
11(1)
Marketing Strategy
11(1)
What Is Marketing's Role in Formulating and Implementing Strategies?
11(10)
Market-Oriented Management
12(1)
Do Customers Always Know What They Want?
13(1)
Does Being Market-Oriented Pay?
14(2)
Factors That Mediate Marketing's Strategic Role
16(2)
Recent Developments Affecting the Strategic Role of Marketing
18(3)
The Future Role of Marketing
21(1)
Formulating and Implementing Marketing Strategy---An Overview of the Process
21(10)
A Decision-Making Focus
21(1)
Analysis Comes First
21(1)
Integrating Marketing Strategy with the Firm's Other Strategies and Resources
22(1)
Market Opportunity Analysis
23(1)
Formulating Marketing Strategies for Specific Situations
24(1)
Implementation and Control of the Marketing Strategy
24(1)
The Marketing Plan---A Blueprint for Action
25(6)
Corporate Strategy Decisions and Their Marketing Implications
31(26)
Strategic Challenges Addressed in Chapter 2
33(2)
Corporate Scope---Defining the Firm's Mission
35(2)
Market Influences on the Corporate Mission
35(1)
Criteria for Defining the Corporate Mission
35(1)
Social Values and Ethical Principles
36(1)
Why Are Ethics Important? The Marketing Implications of Ethical Standards
37(1)
Corporate Objectives
37(4)
Enhancing Shareholder Value: The Ultimate Objective
38(2)
The Marketing Implications of Corporate Objectives
40(1)
Gaining a Competitive Advantage
41(1)
Corporate Growth Strategies
42(2)
Expansion by Increasing Penetration of Current Product-Markets
42(1)
Expansion by Developing New Products for Current Customers
43(1)
Expansion by Selling Existing Products to New Segments or Countries
43(1)
Expansion by Diversifying
43(1)
Expansion by Diversifying through Organizational Relationships or Networks
44(1)
Allocating Corporate Resources
44(7)
Portfolio Models
45(3)
Value-Based Planning
48(3)
Sources of Synergy
51(6)
Knowledge-Based Synergies
51(1)
Corporate Identity and the Corporate Brand as a Source of Synergy
51(1)
Corporate Branding Strategy---When Does a Strong Corporate Brand Make Sense?
52(1)
Synergy from Shared Resources
53(4)
Business Strategies and Their Marketing Implications
57(26)
Strategic Challenges Addressed in Chapter 3
58(1)
Strategic Decisions at the Business-Unit Level
59(3)
How Should Strategic Business Units Be Designed?
60(1)
Business-Unit Objectives
61(1)
Allocating Resources within the Business Unit
61(1)
How Do Businesses Compete?
62(6)
Generic Business-Level Competitive Strategies
63(1)
Do the Same Competitive Strategies Work for Single-Business Firms and Start-ups?
64(1)
Do the Same Competitive Strategies Work for Service Businesses?
65(1)
Do the Same Competitive Strategies Work for Global Competitors?
66(1)
Will the Internet Change Everything?
67(1)
How Do Competitive Strategies Differ from One Another?
68(3)
Differences in Scope
68(1)
Differences in Goals and Objectives
69(1)
Differences in Resource Deployment
70(1)
Differences in Sources of Synergy
70(1)
Deciding When a Strategy Is Appropriate: The Fit between Business Strategies and the Environment
71(3)
Appropriate Conditions for a Prospector Strategy
71(1)
Appropriate Conditions for an Analyzer Strategy
71(2)
Appropriate Conditions for a Defender Strategy
73(1)
How Different Business Strategies Influence Marketing Decisions
74(3)
Product Policies
75(1)
Pricing Policies
76(1)
Distribution Policies
76(1)
Promotion Policies
77(1)
What If the Best Marketing Program for a Product Does Not Fit the Business's Competitive Strategy?
77(6)
SECTION TWO OPPORTUNITY ANALYSIS
83(90)
Understanding Market Opportunities
85(26)
Strategic Challenges Addressed in Chapter 4
86(1)
Markets and Industries: What's the Difference?
87(1)
Assessing Market and Industry Attractiveness
88(1)
Macro Trend Analysis: A Framework for Assessing Market Attractiveness, Macro Level
88(7)
The Demographic Environment
88(3)
The Sociocultural Environment
91(1)
The Economic Environment
92(1)
The Regulatory Environment
92(1)
The Technological Environment
93(1)
The Natural Environment
94(1)
Your Market Is Attractive: What About Your Industry?
95(4)
Porter's Five Competitive Forces
95(3)
A Five Forces Analysis of the Cellular Phone Service Industry
98(1)
Challenges in Macro-Level Market and Industry Analysis
99(1)
Information Sources for Macro-Level Analysis
99(1)
Understanding Markets at the Micro-Level
100(2)
Understanding Industries at the Micro-Level
102(1)
The Team Domains: The Key to the Pursuit of Attractive Opportunities
103(1)
Mission, Aspirations, and Risk Propensity
103(1)
Ability to Execute on the Industry's Critical Success Factors
103(1)
It's Who You Know, Not What You Know
104(1)
Putting the Seven Domains to Work
104(1)
Anticipating and Responding to Environmental Change
105(1)
Swimming Upstream or Downstream: An Important Strategic Choice
106(5)
Measuring Market Opportunities: Forecasting and Market Knowledge
111(22)
Strategic Challenges Addressed in Chapter 5
113(1)
Every Forecast Is Wrong!
113(1)
A Forecaster's Toolkit: A Tool for Every Forecasting Setting
113(5)
Statistical and Other Quantitative Methods
114(1)
Observation
115(1)
Surveys or Focus Groups
116(1)
Analogy
116(1)
Judgment
117(1)
Market Tests
118(1)
Mathematics Entailed in Forecasting
118(1)
Rate of Diffusion of Innovations: Another Perspective on Forecasting
118(4)
The Adoption Process
119(1)
The Rate of Adoption
120(1)
Adopter Categories
120(1)
Implications of Diffusion of Innovation Theory for Forecasting Sales of New Products and New Firms
121(1)
Cautions and Caveats in Forecasting
122(1)
Keys to Good Forecasting
122(1)
Common Sources of Error in Forecasting
123(1)
Why Data? Why Marketing Knowledge?
123(1)
Market Knowledge Systems: Charting a Path toward Competitive Advantage
124(5)
Internal Records Systems
124(1)
Marketing Databases
125(2)
Competitive Intelligence Systems
127(1)
Client Contact and Salesforce Automation Systems
127(2)
Marketing Research: A Foundation for Strategic Decision Making
129(1)
What Users of Marketing Research Should Ask
129(4)
Targeting Attractive Market Segments
133(20)
Strategic Challenges Addressed in Chapter 6
134(1)
Why Do Market Segmentation and Target Marketing Make Sense?
135(2)
Most Markets Are Heterogeneous
135(1)
Today's Market Realities Often Make Segmentation Imperative
136(1)
How Are Market Segments Best Defined?
137(6)
Who They Are: Demographic Descriptors
137(1)
Where They Are: Geographic Descriptors
138(1)
Geodemographic Descriptors
139(1)
How They Behave: Behavioral Descriptors
140(2)
Innovative Segmentation: A Key to Marketing Breakthroughs
142(1)
Choosing Attractive Market Segments: A Five-Step Process
143(5)
Step 1: Select Market-Attractiveness and Competitive-Position Factors
144(2)
Step 2: Weight Each Factor
146(1)
Step 3: Rate Segments on Each Factor, Plot Results on Matrices
146(1)
Step 4: Project Future Position for Each Segment
147(1)
Step 5: Choose Segments to Target, Allocate Resources
148(1)
Different Targeting Strategies Suit Different Opportunities
148(2)
Niche-Market Strategy
149(1)
Mass-Market Strategy
149(1)
Growth-Market Strategy
150(1)
Global Market Segmentation
150(3)
Differentiation and Positioning
153(20)
Strategic Challenges Addressed in Chapter 7
154(1)
Differentiation: One Key to Customer Preference and Competitive Advantage
154(2)
Differentiation in Business Strategies
155(1)
Differentiation among Goods and Services
155(1)
Physical Positioning
156(1)
Limitations of Physical Positioning
156(1)
Perceptual Positioning
157(1)
Levers Marketers Can Use to Establish Positioning
157(1)
Preparing the Foundation for Marketing Strategies: The Positioning Process
158(11)
Step 1: Identify a Relevant Set of Competitive Products
159(1)
Step 2: Identify Determinant Attributes
160(1)
Step 3: Collect Data about Customer's Perceptions for Products in the Competitive Set
161(1)
Step 4: Analyze the Current Positions of Products in the Competitive Set
161(3)
Step 5: Determine Customers' Most Preferred Combination of Attributes
164(1)
Step 6: Consider Fit of Possible Positions with Customer Needs and Segment Attractiveness
165(1)
Step 7: Write Positioning Statement of Value Proposition to Guide Development of Marketing Strategy
166(3)
Some Caveats in Positioning Decision Making
169(1)
Analytical Tools for Positioning Decision Making
169(4)
SECTION THREE FORMULATING MARKETING STRATEGIES
173(112)
Marketing Strategies for New Market Entries
175(28)
Strategic Challenges Addressed in Chapter 8
176(1)
Sustaining Competitive Advantage over the Product Life Cycle
177(6)
Market and Competitive Implications of Product Life Cycle Stages
178(4)
Strategic Implications of the Product Life Cycle
182(1)
Limitations of the Product Life Cycle Framework
183(1)
New Market Entries---How New Is New?
183(1)
Objectives of New Product and Market Development
184(2)
Market Entry Strategies: Is It Better to Be a Pioneer or a Follower?
186(6)
Pioneer Strategy
186(2)
Not All Pioneers Capitalize on Their Potential Advantages
188(1)
Follower Strategy
189(1)
Determinants of Success for Pioneers and Followers
190(2)
Strategic Marketing Programs for Pioneers
192(11)
Mass-Market Penetration
192(1)
Niche Penetration
192(2)
Skimming and Early Withdrawal
194(1)
Marketing Program Components for a Mass-Market Penetration Strategy
194(5)
Marketing Program Components for a Niche Penetration Strategy
199(1)
Marketing Program Components for a Skimming Strategy
199(4)
Strategies for Growth Markets
203(24)
Strategic Challenges Addressed in Chapter 9
204(1)
Opportunities and Risks in Growth Markets
205(4)
Gaining Share Is Easier
205(2)
Share Gains Are Worth More
207(1)
Price Competition Is Likely to Be Less Intense
207(1)
Early Entry Is Necessary to Maintain Technical Expertise
208(1)
Growth-Market Strategies for Market Leaders
209(7)
Marketing Objectives for Share Leaders
209(1)
Marketing Actions and Strategies to Achieve Share-Maintenance Objectives
209(2)
Fortress, or Position Defense, Strategy
211(3)
Flanker Strategy
214(1)
Confrontation Strategy
214(1)
Market Expansion Strategy
215(1)
Contraction, or Strategic Withdrawal, Strategy
216(1)
Share-Growth Strategies for Followers
216(11)
Marketing Objectives for Followers
216(1)
Marketing Actions and Strategies to Achieve Share Growth
216(2)
Deciding Whom to Attack
218(2)
Frontal Attack Strategy
220(1)
Leapfrog Strategy
221(1)
Flanking and Encirclement Strategies
222(1)
Guerilla Attack
223(1)
Supporting Evidence
223(4)
Strategies for Mature and Declining Markets
227(30)
Strategic Challenges Addressed in Chapter 10
228(1)
Challenges in Mature Markets
228(1)
Challenges in Declining Markets
229(1)
Shakeout: The Transition from Market Growth to Maturity
229(1)
Characteristics of the Transition Period
229(1)
Strategic Traps during the Transition
229(1)
Strategic Choices in Mature Markets
230(11)
Strategies for Maintaining Competitive Advantage
231(1)
Methods of Differentiation
232(5)
Methods of Maintaining a Low-Cost Position
237(1)
Customers' Satisfaction and Loyalty Are Crucial for Maximizing Their Lifetime Value
238(3)
Marketing Strategies for Mature Markets
241(7)
Strategies for Maintaining Current Market Share
241(1)
Strategies for Extending Volume Growth
242(6)
Strategies for Declining Markets
248(9)
Relative Attractiveness of Declining Markets
248(3)
Divestment or Liquidation
251(1)
Marketing Strategies for Remaining Competitors
251(6)
Marketing Strategies for the New Economy
257(28)
Strategic Challenges Addressed in Chapter 11
258(1)
Does Every Company Need a New-Economy Strategy?
258(3)
Threats or Opportunities? The Inherent Advantages and Disadvantages of the New Economy for Marketers
261(6)
The Syndication of Information
261(1)
Increasing Returns to Scale of Network Products
262(1)
The Ability to Efficiently Personalize and Customize Market Offerings
262(1)
Disintermediation and Restructuring of Distribution Channels
263(1)
Global Reach, 24X7 Access, and Instantaneous Delivery
264(1)
Are These New-Economy Attributes Opportunities or Threats?
264(2)
First-Mover Advantage: Fact or Fiction?
266(1)
Developing a New-Economy Strategy: A Decision Framework
267(12)
Marketing Applications for New-Economy Tools
267(8)
Developing New-Economy Marketing Strategies: The Critical Questions
275(4)
Developing Strategies to Serve New-Economy Markets
279(6)
What Lessons Can We Learn from the Dot-Com Crash?
279(1)
What Industries Will Be Next to Get the Dot-Com Treatment?
279(1)
What Are the Key Success Factors in Serving the Dot-Com Markets of Tomorrow?
280(5)
SECTION FOUR IMPLEMENTATION AND CONTROL
285(52)
Organizing and Planning for Effective Implementation
287(26)
Strategic Challenges Addressed in Chapter 12
289(1)
Designing Appropriate Administrative Relationships for the Implementation of Different Competitive Strategies
290(3)
Business-Unit Autonomy
291(1)
Shared Programs and Facilities
292(1)
Evaluation and Reward Systems
293(1)
Designing Appropriate Organizational Structures and Processes for Implementing Different Strategies
293(10)
Functional Competencies and Resource Allocation
293(2)
Additional Considerations for Service Organizations
295(1)
Organizational Structures
295(5)
Recent Trends in Organizational Design
300(1)
Organizational Adjustments as Firms Grow and Markets Change
300(1)
Organizational Designs for Selling in Global Markets
301(2)
Marketing Plans: The Foundation for Implementing Marketing Actions
303(10)
The Situation Analysis
306(2)
Key Issues
308(1)
Objectives
308(1)
Marketing Strategy
308(1)
Action Plans
308(1)
Projected Profit-and-Loss Statement
309(1)
Contingency Plans
309(4)
Marketing Metrics for Marketing Performance
313(24)
Strategic Challenges Addressed in Chapter 13
314(1)
Designing Marketing Metrics Step by Step
315(7)
Setting Standards of Performance
316(4)
Specifying and Obtaining Feedback Data
320(1)
Evaluating Feedback Data
321(1)
Taking Corrective Action
322(1)
Design Decisions for Strategic Monitoring Systems
322(2)
Identifying Key Variables
323(1)
Tracking and Monitoring
323(1)
Strategy Reassessment
323(1)
Design Decisions for Marketing Metrics
324(9)
Who Needs What Information?
324(4)
When and How Often Is the Information Needed?
328(1)
In What Media and in What Format(s) or Levels of Aggregation Should the Information Be Provided?
329(1)
Does Your System of Marketing Metrics Measure Up?
329(1)
What Contingencies Should Be Planned for?
330(2)
Global Marketing Control
332(1)
A Tool for Periodic Assessment of Marketing Performance: The Marketing Audit
333(4)
Types of Audits
333(4)
Name Index337(4)
Subject Index341
John Mullins is Associate Professor of Management Practice at London Business School, where he heads the entrepreneurship group.

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