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Marketing Strategy : A Decision Focused Approach

by: WALKER

Marketing Strategy : A Decision Focused Approach

by: WALKER

ISBN 13:
9780072961904
ISBN 10:
0072961902
Edition: 5th
Format: Paperback
Copyright: 02/24/2005
Publisher: McGraw-Hill/Irwin
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Summary

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.

Preface

xiii

SECTION ONE INTRODUCTION TO STRATEGY

(82)

Market-Oriented Perspectives Underlie Successful Corporate, Business, and Marketing Strategies

(28)

Strategic Challenges Addressed in Chapter 1

(1)

Three Levels of Strategy: Similar Components but Different Issues

(4)

What Is a Strategy?

(1)

The Components of Strategy

(1)

The Hierarchy of Strategies

(1)

Corporate Strategy

(3)

Business-Level Strategy

(1)

Marketing Strategy

(1)

What Is Marketing's Role in Formulating and Implementing Strategies?

(10)

Market-Oriented Management

(1)

Do Customers Always Know What They Want?

(1)

Does Being Market-Oriented Pay?

(2)

Factors That Mediate Marketing's Strategic Role

(2)

Recent Developments Affecting the Strategic Role of Marketing

(3)

The Future Role of Marketing

(1)

Formulating and Implementing Marketing Strategy---An Overview of the Process

(10)

A Decision-Making Focus

(1)

Analysis Comes First

(1)

Integrating Marketing Strategy with the Firm's Other Strategies and Resources

(1)

Market Opportunity Analysis

(1)

Formulating Marketing Strategies for Specific Situations

(1)

Implementation and Control of the Marketing Strategy

(1)

The Marketing Plan---A Blueprint for Action

(6)

Corporate Strategy Decisions and Their Marketing Implications

(26)

Strategic Challenges Addressed in Chapter 2

(2)

Corporate Scope---Defining the Firm's Mission

(2)

Market Influences on the Corporate Mission

(1)

Criteria for Defining the Corporate Mission

(1)

Social Values and Ethical Principles

(1)

Why Are Ethics Important? The Marketing Implications of Ethical Standards

(1)

Corporate Objectives

(4)

Enhancing Shareholder Value: The Ultimate Objective

(2)

The Marketing Implications of Corporate Objectives

(1)

Gaining a Competitive Advantage

(1)

Corporate Growth Strategies

(2)

Expansion by Increasing Penetration of Current Product-Markets

(1)

Expansion by Developing New Products for Current Customers

(1)

Expansion by Selling Existing Products to New Segments or Countries

(1)

Expansion by Diversifying

(1)

Expansion by Diversifying through Organizational Relationships or Networks

(1)

Allocating Corporate Resources

(7)

Portfolio Models

(3)

Value-Based Planning

(3)

Sources of Synergy

(6)

Knowledge-Based Synergies

(1)

Corporate Identity and the Corporate Brand as a Source of Synergy

(1)

Corporate Branding Strategy---When Does a Strong Corporate Brand Make Sense?

(1)

Synergy from Shared Resources

(4)

Business Strategies and Their Marketing Implications

(26)

Strategic Challenges Addressed in Chapter 3

(1)

Strategic Decisions at the Business-Unit Level

(3)

How Should Strategic Business Units Be Designed?

(1)

Business-Unit Objectives

(1)

Allocating Resources within the Business Unit

(1)

How Do Businesses Compete?

(6)

Generic Business-Level Competitive Strategies

(1)

Do the Same Competitive Strategies Work for Single-Business Firms and Start-ups?

(1)

Do the Same Competitive Strategies Work for Service Businesses?

(1)

Do the Same Competitive Strategies Work for Global Competitors?

(1)

Will the Internet Change Everything?

(1)

How Do Competitive Strategies Differ from One Another?

(3)

Differences in Scope

(1)

Differences in Goals and Objectives

(1)

Differences in Resource Deployment

(1)

Differences in Sources of Synergy

(1)

Deciding When a Strategy Is Appropriate: The Fit between Business Strategies and the Environment

(3)

Appropriate Conditions for a Prospector Strategy

(1)

Appropriate Conditions for an Analyzer Strategy

(2)

Appropriate Conditions for a Defender Strategy

(1)

How Different Business Strategies Influence Marketing Decisions

(3)

Product Policies

(1)

Pricing Policies

(1)

Distribution Policies

(1)

Promotion Policies

(1)

What If the Best Marketing Program for a Product Does Not Fit the Business's Competitive Strategy?

(6)

SECTION TWO OPPORTUNITY ANALYSIS

(90)

Understanding Market Opportunities

(26)

Strategic Challenges Addressed in Chapter 4

(1)

Markets and Industries: What's the Difference?

(1)

Assessing Market and Industry Attractiveness

(1)

Macro Trend Analysis: A Framework for Assessing Market Attractiveness, Macro Level

(7)

The Demographic Environment

(3)

The Sociocultural Environment

(1)

The Economic Environment

(1)

The Regulatory Environment

(1)

The Technological Environment

(1)

The Natural Environment

(1)

Your Market Is Attractive: What About Your Industry?

(4)

Porter's Five Competitive Forces

(3)

A Five Forces Analysis of the Cellular Phone Service Industry

(1)

Challenges in Macro-Level Market and Industry Analysis

(1)

Information Sources for Macro-Level Analysis

(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 Index

337

(4)

Subject Index

341

Amazon no longer offers textbook rentals. We do!

Marketing Strategy : A Decision Focused Approach

Marketing Strategy : A Decision Focused Approach

9780072961904

0072961902

Summary

Author Biography

Table of Contents

Supplemental Materials

Write a Review

Amazon no longer offers textbook rentals. We do!

Marketing Strategy : A Decision Focused Approach

Marketing Strategy : A Decision Focused Approach

9780072961904

0072961902

Summary

Author Biography

Table of Contents

Supplemental Materials

Write a Review

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