strategic marketing management chapter 9 and 10
DESCRIPTION
strategic marketing management chapter 9 and 10TRANSCRIPT
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Group members
Afza Farooq Tehzeeb Tariq Syed Zohaib Ali Rameez Akram
Presented to:-
Sir Amin Nasarullah
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STRATEGIC OPTIONS:Quality Value Focus Innovation.
STRATEGIC MARKETING MANAGEMENT.
Chapter 9 &10
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What is mean by strategic options?
•A strategy is about giving the business a clear direction and purpose.
•Business strategy crowd together following strategic options:
Value propositionAssets and competencies
Functional strategies and programs
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STRATEGIC OPTIONS INCLUDE:
QualityValue Focus
InnovationGlobalization
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•A business may select more than one strategic options among different options.
•These strategies would help you in developing business strategies and
decision making.
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CHALLENGES OF BUSINESS STRATEGY.
Q.Which strategic option should form the basis for business strategy?
Answer: Each option should be challenged with respect to whether it
contain a real and perceived value proposition , and whether it is
relevant, sustainable and feasible
Is There A Real Customer Value Proposition?
Is There A Perceived Customer Value Proposition?
Is the strategy relevant to customer?
Is the strategy sustainable?
Is the strategy feasible?
Strategic Options To Be Discussed In Detail:
QualityValueFocus
InnovationBeing global
Strategic options:
Product Attributes
product Design
Product Line Breadth
CORPORATE SOCIAL RESPONSIBILITY
Brand familiarityThe awareness consumers have of a particular brand.
Customer Intimacy
A marketing strategy where a service supplier or product retailer gets close to their clients.
THE QUALITY OPTION
Perceived quality of the product
PERCEIVED QUALITY AND FINANCIAL PERFORMANCE
Association of quality with brand choice.
TOTAL QUALITY MANAGEMENT
TQM is an operating philosophy and management tool that focuses on continuous process improvement. Everything is a scientific method.
http://www.kandns.com
Total Quality Management
• Commitment of senior management to total quality management .
• Cross functional teams empowered to make changes.
• Process orientation includes livestock to feed , preparation of ready to cook products like burger patties, nuggets and kababs.
• A set of systems like suggestion system.
• The tracking of key quality measures including customer satisfaction.
Signals Of High Quality• Consumer mostly prefer quality
product which are fit and finish.
Example Broadband suppliers (professionals
attitudes) Tomato juices (thickness) Cleaners (dishwashers) Super markets (imtiaz, metro) Cars and clothes (heavy weight
mobile phones and branded clothes)
Values• Dell computers:
customization and assemble to order, no intermediary, effective distribution, direct contact with customer.
• Super stores:Imtiaz super store
• Suzuki: cost focus , easy to operate.
VALUE Cont…
Value Arenas
Creating a cost advantage
Perceived value
Low cost culture
Creating A Cost Advantage
A source of competitive advantage that depends on producing some product or service at the lowest cost. The most successful approaches to cost advantages areNo frills product/servicesOperationsScale economiesThe experience curve
Perceived ValueIt deals solely with the customer‘s
perception of a product.
Nike, a well-known brand of today, endorsed in professional NBA player
Michael Jordan and created a special line of shoes called the Air Jordan(s).
Low Cost Culture•Cost oriented culture•Low cost structure
FOCUS:Pay particular attention to some thingfor example
Hospital:kidney center specially for kidney related patients.
Tutty fruity:Provide flavored yogurt.
Focus strategy concentrates on:
Resources and energy
Competing with limited resources
Supporting a strategic position
Innovation
INNOVATIONSONY:Focus on continuous innovation, introduces new products like walkman, handycam, Xplod(mobile entertainment), play stations, cile(handheld PDA), cyber shot (digital camera), and VAIO(note book computers).
PROCTER AND GAMBLE:Deep understanding of customer, research on technologies, ability to link customer need with technical skills.
Innovation cont…
Innovation and value proposition
The first mover advantage
Thank You