principles of marketing strategies

week 1

define customer heterogeneity

all customers differ

define customer dynamics

all customers change

define sustainable competitive advantage

all competitors react

define resource tradeoffs

all resources are limited

four principles of marketing strategy

customer heterogeneity; customer dynamics; sustainable competitive advantage; resource tradeoffs

effects of marketing strategy on firm performance

grow market size; grow market share; better prices and margins; reduce costs

what are the 3C’s of inputs to managing customer heterogeneity

customers; company; competitors

3 methods of approaching and processing customer heterogeneity

STP; perceptual/positional maps; customer centric view

what does STP stand for

segmenting targeting positioning

3 ways to carry out analysis on customer heterogeneity

factor analysis; cluster analysis; GE matrix

3 outputs of customer heterogeneity related to STP

industry segmentation; target segment; positioning statement

what does SCA stand for

sustainable competitive advantage

3 inputs to managing SCA

positioning statements; AER strategies; future trends

2 types of positioning statements

target; AER

target position statements address which customers

external customers

AER position statement target which customers

internal personas

3 types of future trendsq

technology; regulatory; socioeconomic

approaches to SCA

brand offering relationship equity stack; AER strategy; BOR equity grids; brand and relationship management

processes relating to SCA

innovation processes

4 ways to do analysis for SCA

field experiments; conjoint analysis; multivariate regression

outputs of managing SCA

SCAs; BOR strategies

what does BOR stand for in BOR strategies

brand; offering; relationship

marketing resources need to be balanced between 4 channels

customers STP; AER stages; BOR strategies; marketing mix elements of 4 to 7 Ps

what does AER stand for

acquisition; expansion; retention

3 inputs to managing resource tradeoffs

positioning statements; AER strategies; BOR strategies

approaches to managing resource tradeoffs

heuristic; attribution

2 ways to analyse resource tradeoffs

response models; experiments

2 outputs of managing resource tradeoffs

marketing metrics; plans and budgets

2 types of marketing metrics

marketing; financial