What is the point of the strategic marketing management process?
identify starting point and end point, how we get there (route: how we create value, what products in which markets) and how we ensure the arrival (evaluation: how we perform better than competetion)
Industry Defintion
What industry are we in?
Marketing assets
What contains a environmental analysis?
Driving forces from PESTLE
What is a strategic position analysis? What is the first step in the smm process?
How does the Marketing Environment look like?
Where are we now? Analysis of current situation
A model to analyse the macro environment
PESTLE: to identify driving forces like trends, uncertainties, threats, opportunities etc.
Political
Economic
Socio-cultural
Technological
Legal
Environmental
What impact does the industry have on the kind of competition the comapny may face?
brand competition (individual brands)
product competition (type of product)
form competition (different types of solutions for the need)
generic competition (share of wallet, is it FMCG or luxury?)
Industry analysis - potential & existing Players
What is strategic group mapping?
Using characteristics to map competitors within an industry (eg. price and number of different models)
What are two models to analyse the internal environment?
resource audit (of financial, physical, human resources meaning all tangible and intangible resources including all departments like Marketing, R&D etc.)
Porters Value Chain model (to show competitive advantage and core competencies through looking at primary and secondary activities)
What are the two main ways to acquire a competitive advantage?
either based on cost or on differentiation
SWOT
external and internal analysis through considering strengths and weaknesses (internal) and opportunities and threats (external)
Why should a company have a strategy?
to set the future direction
to state value creation (how)
to identify what products and in which markets the firm will invest its resources
to describe how the company outperforms its competitors
What are organisational resources?
Define assets & capabiities
Define Core internal compentencies
What are the elements of resource-based competitive advantage?
How to do understand competitors?
Customer behavior analysis
Marketing capabilities
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