Study materials
Strategic Marketing
Strategic Marketing Study materials
The primary method for accessing WBS course materials is online via my.wbs. This content was exported from my.wbs on February 12th 2015 at 07:07 PM. This downloaded content does not include video or audio content. This downloaded content does not include discussion of the materials. Updates and errata for content will be published to my.wbs only, so please be aware that this document may become out of date.
Exported on February 12th 2015 at 07:07 PM
Warwick Business School
Module outline
Strategic Marketing
Introduction The Marketing module focused on developing skills in analysing a specific market opportunity within a defined market. It was underpinned with frameworks which are helpful in exploring alternative responses to a particular set of market circumstances prevailing at particular point in time. In a sense, Marketing has focused on dynamic change and how marketers can best respond, but within a defined framework. The Strategic Marketing module provides you with the opportunity to apply some of the concepts from the Marketing module in both case studies and a strategic marketing simulation. The module goes on to look at managing in markets in the long-term from a wider perspective. There may be long-term growth or decline but often the changes tend to be small and slow. Markets can undergo significant changes in the long run with major redefinition and restructuring based upon customers (channels), consumers and competitors - but again these changes tend to be slowly evolutionary rather than rapidly revolutionary.
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Warwick Business School
Module outline
Strategic Marketing
Objectives The module considers a range of topics related to the analysis and interpretation of patterns of customer and competitor behaviour in the evolution of markets. It considers in particular the ways in which analysis of long-term effects can be used to influence strategic choices within the firm in the broad marketing domain. It critically examines the nature of the evidence and knowledge that is available in this context and through the use of examples, case studies and simulation, aims to relate theory and practice in this area. We should however issue a very important health warning at this stage. The pursuit of success in the competitive marketplace is inevitably fraught with problems: there are no clear answers, merely hints and possibilities; the evidence is patchy and contradictory; and, finally, solutions which seem to work in one time period often unravel in later ones. In strategic marketing, we can either downplay this issue, present outlier performance as if it was a reasonable average, uncertainty as certainty and pretend there is a universal money machine available for the cost of a textbook or we can confront the underlying problem of limited knowledge and evidence. This module takes the latter direction, in the belief that a critical assessment of today's panacea and schemata will equip you to make not only a much more balanced assessment of their value but also, more importantly, make an equivalent evaluation of the new tools and techniques that become available in the future. However, some of you might find such an approach frustrating and annoying. After all, in many situations it is more important to act rather than think too much and if the actions taken have to be justified the recourse to simplifications may be just what we need to build commitment and purpose. We will try and link a concern for action with a critical perspective on evidence and argument but we hope you, as participants will not be surprised by the balance of the module.
Specific module objectives Among the specific module objectives are to develop the ability to: 1. Conduct external and internal analyses that support the development of marketing strategies. 2. Identify and address strategic questions such as: What environmental opportunities and threats do we face? What are the key strategic uncertainties? What are our organisational strengths, weaknesses and problems? What are our strategic alternatives? What business should we be in? What are our long-term objectives, our vision? What product markets are attractive to us? What growth directions are most attractive? How should the organisation's resources be allocated? Should we diversify? How? What is our sustainable competitive advantage? What assets or competencies need to be developed and maintained?
3. Understand and work with a set of useful and important concepts such as unmet needs; strategic groups; sustainable competitive advantage; risk; key success factors; strategic opportunities or threats; strategic strengths, weaknesses or problems; strategic uncertainties; vision; product markets; segmentation; industry structure; portfolio analysis; and scenarios. 4. More broadly, understand the basic processes underlying the evolution and development of competitive markets; appreciate the nature of both sustainability and erosion in the context of competitive advantage in such markets; and recognise in general the ways in which both customer and technology evolution can Page 2 of 4
Warwick Business School
Module outline
Strategic Marketing
such markets; and recognise in general the ways in which both customer and technology evolution can substantially influence such processes. 5. Apply these various concepts to any number of specific commercial situations. Particular emphasis is given to this last objective since it is the whole intention of the module to understand how knowledge in the area of marketing strategy can and should influence action and decision choices.
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Warwick Business School
Module outline
Strategic Marketing
Module design and delivery The module is designed to maximise the learning experience for MBA participants through a combination of traditional lectures, real-world examples and syndicate group work on a range of case studies. The sessions will be highly interactive and participants should be prepared to contribute to them by sharing their own experiences in the context of the topics being discussed. As with most taught masters courses, group work which is focused on the analysis of case studies will form a major part of this module. When combined with traditional knowledge transfer sessions and individual reading, cases allow participants to hone their analytical skills and, of equal importance, they can bring what may often appear to be abstract concepts to a real-world context. An additional component of the module is syndicate group participation in a computerised marketing strategy simulation. Past participants have found this experience to be extremely valuable for further learning. To get the most out of the simulation, you should be prepared to spend an extensive amount of time and effort with your group every evening Monday to Thursday! The pace is fast, you will be covering a lot of ground each evening. There will be two group decisions that will need to be made each evening Monday to Thursday and additionally on Thursday evening and before Friday morning - you need to finalise your group's presentation, where all group's final presentations will be made and evaluated on Friday. To summarise, module delivery will embrace the following components: participative lectures case studies simulation. Sessions will run from Monday to Friday from 09.00-17.30 (except where indicated in the programme) and where evenings are for group work on the marketing simulation. Note: While it will be extremely valuable to meet collectively as a group and engage in much group discussion and decision making every evening, the technology supporting the marketing simulation does enable simultaneously remotely access of the marketing simulation from independent web-connected PCs. This means it is in principle feasible to work remotely at a distance, though this is by no means encouraged if you wish to get the most out of your simulation experience and also to enable a strong final presentation for your group.
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Warwick Business School
Programme
Strategic Marketing
Monday Monday 9 March 2015 09.30-10.00
Arrival and coffee
10.00-12.30
Module introduction Market entry timing strategy Lecture/discussion: Pioneering vs following, follower firm entry timing Case study: Business Scenario
12.30
Lunch
13.30-15.00
Key concepts in marketing strategy Lecture/discussion: A marketing strategy framework and key concepts
15.00-15.30
Break
16.00-17.30
Case study: Netflix Inc.: Streaming Away From DVDs
EVENING
Group work on MarketplaceLive: • First marketplace decision • Second marketplace decision
SD
SD
SD
Sessions will be led by the following faculty members: SD = Scott Dacko NS = Nathan Subramanian SB = Sourindra Banerjee
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Warwick Business School
Programme
Strategic Marketing
Tuesday Tuesday 10 March 2015 09.00-10.30
External analysis in strategic marketing Lecture/discussion: Advanced customer, competitor, and market analyses
10.30-11.00
Break
11.00-12.30
Case study: Sony: The European Launch of the Sony Tablet
12.30
Lunch
13.30-15.00
Environmental uncertainty and internal analysis in strategic marketing Lecture/discussion: Environmental analysis and strategic uncertainty, internal analysis
15.00-15.30
Break
15.30-17.00
Case study: Car2go: Individual Urban Mobility and the Sharing Economy
EVENING
Group work on MarketplaceLive: • Third marketplace decision • Fourth marketplace decision
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NS
NS
NS
NS
Warwick Business School
Programme
Strategic Marketing
Wednesday Wednesday 11 March 2015 09.00-10.30
The concept of sustainable competitive advantage Lecture/discussion: Creating advantage, strategic options
10.30-11.00
Break
11.00-12.30
Case study: Aqualisa Quartz: Simply a Better Shower
12.30
Lunch
13.30-15.00
Innovation as a marketing strategy Lecture/discussion: Product, service and business model innovations, fostering innovation
15.00-15.30
Break
15.30-17.15
M-PESA Power: Leveraging Service Innonovation in Emerging Economies
EVENING
Group work on MarketplaceLive: • Fifth marketplace decision • Sixth marketplace decision
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SD
SD
SB
SB
Warwick Business School
Programme
Strategic Marketing
Thursday Thursday 12 March 2015 09.00-10.30
Positioning, growth strategies, and corporate social responsibility Lecture/discussion: Strategic positioning, growth strategies, diversification, corporate social responsibility
10.30-11.00
Break
11.00-12.30
Case study: Tennant Company: Can 'Chemical-Free' be a Pathway to Competitive Advantage?
12.30
Lunch
13.30-15.00
Marketing mix strategies, strategy planning and implementation in organisations - selected advanced approaches Lecture/discussion: Marketing mix strategies, social networking marketing, and blog marketing
15.00-15.30
Break
15.30-17.30
Case study: The Ford Fiesta Movement
EVENING
Group work on MarketplaceLive: • Seventh marketplace decision • Eighth marketplace decision • Group presentation preparation for MarketplaceLive decisions and performance
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NS
NS
NS
NS
Warwick Business School
Programme
Strategic Marketing
Friday Friday 13 March 2015 09.30-10.30
Group presentations of MarketplaceLive simulation decisions and performance
10.30-11.00
Break
11.00-12.30
Group presentations
12.30
Lunch
13.30-15.00
Group presentations
15.00-15.30
Break
15.30
Awards and wrap-up
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SD
SD
SD
Warwick Business School
Assessment
Strategic Marketing
Module assessment The grade for the module will be split between group presentations (20%) and an individual assignment (80%).
Group presentations (20%) During the module we will make use of case studies to examine how key marketing strategy principles can be applied in practice, both in analysing real-world scenarios and predicting likely outcomes of marketing strategy decision making. Each day participants will work in syndicate groups on assigned case questions and will present their analysis and recommendations. In addition, during each evening participants will have an ample opportunity to work in syndicate groups on a marketing strategy simulation. Participation in the simulation is a vital part of learning on the module and past participants have also found it to be highly enjoyable as well as challenging. In the final session, all participants will make a 'marketplace simulation decision and performance' presentation. One member from each group, on behalf of the group, should upload a PDF copy of the submission to my.wbs on Friday 13 March 2015 at 17.30.
Individual assignment (80%) An assignment brief is provided and a report based on the brief must be submitted. The report length is 3,000 words, excluding appendices, etc. This is an individual assignment.
Introduction This module is assessed partly by an individual assignment. Before beginning this task, it will be to your advantage to undertake and complete as much of the module work as possible, as the effort involved here-particularly to achieve a high-quality outcome-is considerable and should not be underestimated! Details of the assignment scope and requirements are given below. Good luck!
The assignment 1. Select a new product or service that has been internally developed and subsequently introduced by your organisation or any other organisation in the UK, EU, US or other country market at some point during the calendar years 2014-2015. Make your selections of product and brand, and market to enable you to best demonstrate your knowledge. After stating your choices, define and describe the overall market for the product, including the most appropriate bases for segmentation of the market and some likely key success factors for organisations competing in the market. (15%) 2. Identify and describe the organisation's strategic marketing objectives and the apparent criteria that would be used in clearly judging whether or not the offering is a success. (5%) 3. Fully describe the organisation's marketing strategy for the product, including how the product and associated brand are positioned in the overall market. (30%) 4. Carefully analyse and critique your organisation's marketing strategy. Comment on the product's apparent success relative to the organisation's strategic marketing objectives, strengths, and weaknesses. Emphasising the most important aspects facing the organisation now and in the future given the organisation's performance and market competition, analyse what important changes in the organisation's environment might occur in the future. Comment on the likelihood of the product's future success (that is, success over the next three-to-five years) and provide recommendations for a feasible new marketing strategy initiative. (50%) In all instances, references to multiple credible sources, rather than pure, unsubstantiated opinion or marketing hype, will provide the strongest level of support for and credibility to the assumptions, arguments, analyses, justifications, and conclusions you will be making in your assignment.
Other requirements Refer appropriately to marketing strategy concepts, models, etc. covered in the module and other materials to support your assignment and demonstrate your understanding, knowledge, and ability to integrate the concepts in a practical setting. Word Limit: 3,000 words; word count: provide a word count at the top of your document. Page 1 of 2
Warwick Business School
Assessment
Strategic Marketing
The word limit is excluding headings, tables, figures, footnotes, references, and appendices, however including text material in any of these areas simply as an extension of the body of the write-up is not considered appropriate use of these areas. Spelling and grammar: Check your document for spelling and grammar. Sources: All sources used in the assignment including personal contacts, text, journals, magazines, newspapers, etc., must be referenced in your essay and a properly formatted list of references must follow your essay. Your reference list is not included in the word count.
Marking Marking will focus on your written demonstration of your understanding of the concepts covered in the module and your ability to critically select, analyse, and evaluate the concepts for a current and actual situation. A successful essay must of necessity go beyond development and presentation at the level at which material is covered in the module as well as that which is simply restated from the text. Starting your assignment early will very likely improve the quality of your essay. An assignment such as this cannot easily be done with little time for considerable and careful development and crisp, clear presentation. All participants must work independently. Note: The purpose of selecting a product from the 2014-2015 calendar year rather than a product introduced at an earlier time is that the evaluation of a current product is more challenging than for an older product. The additional information available on an older product greatly simplifies analysis and evaluation of the product's marketing strategy as there is the benefit of greater hindsight. Evaluating a current product helps you develop foresight in marketing strategy. The deadline for submission is 17.30 on Monday 13 April 2015 The marks for this assignment will be released on Monday 11 May 2015 The submission deadline is precise and uploading of the document must be completed before 17.30 (UK time) on the submission date. Any document submitted even seconds later than 17.30 precisely will be penalised for late submission in line with WBS policy. Please consult your student handbook on my.wbs for more detailed information. The online assignment submission system will only accept documents in portable documents format (PDF) files. Please note that we will not accept PDF files of scanned documents. You should create your assignment in your chosen package (e.g. Word), then convert it straight to PDF before uploading. Please place your student ID number, NOT YOUR NAME, on the front of your submission as all submissions are marked anonymously. All the scripts should also have the following paragraph included on the front page:
This is to certify that the work I am submitting is my own. All external references and sources are clearly acknowledged and identified within the contents. I am aware of the University of Warwick regulation concerning plagiarism and collusion. No substantial part(s) of the work submitted here has also been submitted by me in other assessments for accredited courses of study, and I acknowledge that if this has been done an appropriate reduction in the mark I might otherwise have received will be made.
PLEASE ENSURE YOU KEEP A SECURITY COPY OF YOUR ASSESSMENT
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Warwick Business School
Teaching Faculty
Strategic Marketing
Teaching faculty Dr Scott Dacko (Module Organiser), Associate Professor in Marketing and Strategic Management, WBS Scott is the Named Internal Examiner for the module is Associate Professor in Marketing and Strategic Management at Warwick Business School, The University of Warwick. He holds a PhD in Business Administration from the University of Illinois at Urbana-Champaign and MBA and BME degrees from the University of Minnesota. He has 10 years' new product development, management and marketing experience in large and small companies in the US. He is the author of The Advanced Dictionary of Marketing: Putting Theory to Use published by Oxford University Press (2008). He has published articles in the Journal of Services Marketing, Journal of Advertising Research, Marketing Intelligence and Planning, Benchmarking: An International Journal, International Journal of Advertising, International Journal of New Product Development and Innovation Management,the Journal of Marketing Management, the Journal of Travel and Tourism Marketing, Technological Forecasting and Social Change, the International Journal on Media Management and the Journal of Marketing Education. His research interests include the role of timing in marketing strategy development and success for services and products (such as market entry and new product/service introduction timing), marketing management (including managerial timing decisions), and consumer behaviour (e.g. explaining consumer purchase timing).
Dr Nathan Subramanian, Principal Teaching Fellow, Marketing, WBS Nathan Subramanian (PhD, MBA) is an academic and Principal Teaching Fellow in the Marketing Group at Warwick Business School. Nathan's experience has straddled both the academic and the corporate world, particularly in the areas of International Marketing, Strategic Marketing, Marketing Communications, and Marketing Research. His industry experience spanning over 20 years includes senior management positions such as Asia Pacific Head of Business & Consumer Insights for Coca Cola, Database & Market Research Manager with Readers Digest, Vice President with DDB Needham, and more recently General Manager with Telstra, a leading Australian telecom company. His experience has also covered several different geographical regions, and he has handled portfolios covering most of the Asia Pacific region including Australia, India and China. Nathan began his career as a full-time academic after completing his PhD in the area of advertising research, before switching to a corporate career. During his tenure as a full-time academic, Nathan has held teaching positions at the Indian Institute of Management (Ahmedabad), ESSEC Graduate School of Management (France), SDA Bocconi (Italy), and the University of Westminster (UK). Nathan has also taught part-time at Macquarie Graduate School of Management (Australia), the University of Western Sydney (Australia), and New York University. His teaching experience has covered a wide range of audiences including reputed MBA programs in the above institutions, and targeted Executive programs for corporations.
Dr Sourindra Banerjee, Assistant Professor of Marketing, WBS Sourindra Banerjee is an Assistant Professor of Marketing at Warwick Business School, University of Warwick, UK Sourindra specialises in understanding 1) how emerging market firms grow internationally and 2) how emerging market firms innovate in a challenging global environment. His focus on emerging markets provides a fresh perspective on international marketing and innovation management theories, most of which have been developed in the context of the Western world. He holds a PhD from University of Cambridge and was a visiting scholar for a year at the Marshall School of Business, University of Southern California. Dr Banerjee also holds an MSc in International Marketing Management from Leeds University Business School, University of Leeds; an MBA from Xavier Institute of Management, Bhubaneswar, India and a Bachelor's Degree in Chemical Engineering from Jadavpur University, Kolkata, India.
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Warwick Business School
Readings
Strategic Marketing
Readings The textbooks provided for the week are: Aaker, D.A. and McLoughlin, D. (2007) Strategic Market Management (European Edition) Chichester, UK: Wiley The following text (although not set text) will also be referred to in the module. This will be supplied in hardcopy only. Dacko, S.G. (2008) The Advanced Dictionary of Marketing: Putting Theory to Use Oxford: Oxford University Press The readings in this module are divided into pre-readings, essential readings and further readings. Completing as much of the pre-reading and essential reading as possible before you attend will provide you with a wider understanding of the topics to be discussed during the module and therefore enhance your contribution to the class. However, we understand that many of you will find it difficult to complete all of the reading due to other commitments, so have classified the readings as follows: Pre-readings are included in the online materials; you should read these in advance of the session to which they relate. Unless specified, you should treat ALL case studies as required pre-reading. Essential readings are also included in the online materials. In order to complete the module and the assignment successfully you should complete this reading when you have time, either during or after the module. Further readings are intended for those who may wish to widen and deepen their understanding of particular issues now or in the future. You will have to use your own library skills to obtain these.
Case study advice Any case studies for this module purchased from the Case Centre are provided for your personal use on this module, for which you are registered. You may download and print one copy for your personal use. The case studies will expire on 13 April 2015 and will not be available to you after this. We recommend that you download any cases immediately. When you have taken your copy of a case study you may not make further copies, share them with or sell the materials to any other person or use them for any purpose not connected with your studies for this MBA module. Failure to follow these terms and conditions of use may result in disciplinary action.
Note There are a few typographical errors that have been spotted in the Aaker and McLoughlin textbook; these have been passed on to the publisher and will be rectified in the next print run. Page 18 - some words in Figure 2.1 have been unintentionally scrambled up (e.g. Strategic Analysis becomes STR/TEGIC ANASIIS). The same figure, however, is printed perfectly on the inside page of the cover. Page 31 (bottom of page) - where it says 'Figure 2.3 provides a […] grouped into five general areas'. This should actually be six areas as listed afterwards. Page 68 - one of the bullet points appears to be missing. Between 3 and 4 there should be another bullet point that refers to 'industry mobility barrier' (refer to Figure 4.4 on page 67). Page 96 - Figure 6.1 has missed out the 'Environment' category (listed on page 99), which should be placed between 'Government' and Economics'
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Warwick Business School
Readings
Strategic Marketing
Monday readings Monday 9 March 2015 Market entry timing strategy Case study:
Dacko, S. (2015) 'Business Scenario' This case study will be provided in class
Essential reading:
Golder, P.N. and Tellis, G.J. (1993) 'Pioneer Advantage: Marketing Logic or Marketing Legend?' Journal of Marketing Research, 30, 2, pp. 158-70
Kerin, R.A.; Varadarajan, R. and Peterson, R.A. (1992) 'First-Mover Advantage: A Synthesis, Conceptual Framework, and Research Propositions' Journal of Marketing, 56, 4, pp. 33-5 2 Lieberman, M.B. and Montgomery, D.B. (1988) 'First-Mover Advantages' Strategic Management Journal, 9, Summer, pp. 41-58 Schnaars, S.P. (1986) 'When Entering Growth Markets, Are Pioneers Better Than Poachers?' Business Horizons, 29, 2, pp. 27-36
Key concepts in marketing strategy Case study:
Netflix Inc.: Streaming Away From DVDs Ref.: 9B12M040
Essential reading:
Aaker and McLoughlin: Chapters 1 and 2
Day, G.S. and Wensley, R. (1983) 'Marketing Theory with Strategic Orientation' Journal of Marketing, 47, Fall, pp. 79-8 9
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Warwick Business School
Readings
Strategic Marketing
Tuesday reading Tuesday 10 March 2015 External analysis in strategic marketing Case study:
Sony: The European Launch of the Sony Tablet Ref.: 512-087-1
Essential reading:
Aaker and McLoughlin: Chapters 3, 4, and 5
Piercy, N.F.; Cravens, D.W. and Lane, N. (2010) 'Marketing Out of the Recession: Recovery is Coming, but Things Will Never Be the Same Again' The Marketing Review, 10, 1, pp. 3-23 Roberts, K. and Wensley, R. (1997) 'Explaining Success: Hard Work, Not Illusion' Business Strategy Review, 8, 2, pp. 75-7 Wensley, R. (1997) 'Explaining Success: The Rule of Ten Percent and the Example of Market Share' Business Strategy Review, 8, 1, pp. 63-7 0
Environmental uncertainty and internal analysis in strategic marketing Case study:
Car2go: Individual Urban Mobility and the Sharing Economy Ref.: 9B13M110
Essential reading:
Aaker and McLoughlin: Chapters 6 and 7
Calantone, R. and Rubera, G. (2012) 'When Should RD&E and Marketing Collaborate? The Moderating Role of Exploration-Exploitation and Environmental Uncertainty' Journal of Product Innovation Management, 29, 1, pp. 144-57
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Warwick Business School
Readings
Strategic Marketing
Wednesday readings Wednesday 11 March 2015 The concept of sustainable competitive advantage Case study:
Aqualisa Quartz: Simply a Better Shower Ref.: 9-502-030
Essential reading:
Aaker and McLoughlin: Chapters 8, 9 and 10
Day, G.S. and Wensley, R. (1988) 'Assessing Advantage: A Framework for Diagnosing Competitive Superiority' Journal of Marketing, 52, pp. 1-20
Innovation as a marketing strategy Case study:
M-Pesa Power: Leveraging Service Innovation in Emerging Economies Ref.: 911-007-1
Essential reading:
Tellis, G.; Prabhu, J. and Chandy, R. (2009) 'Radical Innovation Across Nations: The Preeminence of Corporate Culture' Journal of Marketing, 73, 1, pp. 3-2 3
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Warwick Business School
Readings
Strategic Marketing
Thursday readings Thursday 12 March 2015 Positioning, growth strategies and corporate social responsibility Case study:
Tennant Company Ref.: 9B12M020
Essential reading:
Aaker and McLoughlin: Chapters 12, 13 and 14
Piercy, N.F. and Lane, N. (2009) 'Corporate Social Responsibility: Impacts on Strategic Marketing and Customer Value' The Marketing Review, 9, 4, pp. 335-60
Marketing mix strategies, strategy planning and implementation in organisations - selected advanced approaches Case study:
The Ford Fiesta Ref.: 9-511-117
Essential reading:
Aaker and McLouglin: Chapter 16
Berthon, P.; Pitt, L.; Plangger, K. and Shapiro, D. (2012) 'Marketing Meets Web 2.0, Social Media, and Creative Consumers: Implications for International Marketing Strategy' Business Horizons, 55, 3, May-June, pp. 261-71 Constantinides, E. and Fountain, S.J. (2008) 'Web 2.0: Conceptual Foundations and Marketing Issues' Journal of Direct, Data and Digital Marketing Practice, 9, 3, pp. 231-44 Schmitt, B. (1999) 'Experiential Marketing' Journal of Marketing Management, 15, pp. 53-67
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Warwick Business School
Readings
Strategic Marketing
Friday readings Friday 13 March 2015 No readings for today.
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Warwick Business School
