what is business strategy

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Marketing Strategy
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MARKETING STRATEGY INTRODUCTION
At the end of this module the learning
outcomes are:
1. Concepts of corporate and marketing
strategy
2. Importance of marketing strategy
3. Scope and activities of marketing strategy
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SUGGESTED READINGS
1. Strategic Marketing
by
David Cravens
Chapter 1 to 4
2. Strategic Marketing
by
Wilson & Gilligan
Chapter 1 and 2
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Your answers…
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Now again , what is marketing?
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So , Marketing is …
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WHAT IS BUSINESS
STRATEGY
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WHAT IS BUSINESS STRATEGY
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In other words
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Strategy is the means an organization uses to
achieve its objectives
Strategy implements management’s concept of
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Business scope
Mission
Objectives
Management’s skills and vision in addressing
these issues are critical to performance of the
corporation
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Let’s study the Marketing
Strategy of
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Steps we learnt from Unilever
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What type of business should we be in?
Which market segments to attack?
What time frame?
Should we be market leaders?
Mass markets versus niche markets?
If we have many businesses how should
resources be allocated?
Of the various alternatives, which will produce
the greatest returns?
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Many more issues confront an organization!
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LEFT-HANDED AND RIGHTHANDED ORGANIZATIONS
LEFT-HANDED
Financially driven
Planning of expenses, debt, sales
When sales slip, tendency to cut expenses to
boost profits
Typically with British and US organizations
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LEFT-HANDED AND RIGHTHANDED ORGANIZATIONS
RIGHT-HANDED
• Market-driven organizations
• Primary objective of satisfying customers
• Business decisions flow back from an
understanding of customer rather than from a
financial requirement
• Typically with Japanese organizations
• Increasing shift towards right-handed approach
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Recommended texts
• Strategic Market Management 9th ed. by David A. Aaker; published by
Wiley
• Baines / Fill / (2008) Marketing. Oxford (with online content)
• Brassington & Pettitt (2008) Principles of Marketing. Prentice Hall (4th
Ed)
• Lovelock, C, Wirtz, J Services Marketing (6th Edition) Pearson Prentice
Hall
• Palmer, A Principles of Service marketing (5th Edition) McGraw Hill
• Wilson, A (2008), Services Marketing, McGraw Hill, European Edition
• Kapferer &Bastien, The Luxury Strategy Kogan, 2010
• Keller, K Strategic Brand Management (3rd Edition) Pearson
• Kapferer, J The New Strategic Brand management (4th Edition) Kogan
Page
• Lincoln &Thomassen, Private Label, Kogan Page 2009 Marketing
Management
• Marketing Management – Mullins, Walker , Boyd , McGraw Hill (6th
Edition), Business Strategy (general)
• Johnson Whittington & Scholes, Grant, Exploring Corporate Strategy (all
editions)
Next Class?
• Get the recommended Text
• Get all the class “necessities”
• Visit Web portal to download lectures
& notes
• For queries: [email protected]
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