M Strategy

Question 1

where to compete

how to compete

Answer 1

a) product-market investment, markets, competitors and product markets

b) customer value proposition, resources & capabilities
functional area strategies and programs

Question 2

product-market investment decision

Answer 2

scope of business and its dynamics
products offered / not offered
markets served / “
level of vertical integration

example Ikea: well-designed furniture at low prices

Question 3

customer value proposition

Answer 3

perceived benefit / perceived cost

relevant and meaningful to customer
differentiated from competitor
sustainable over time

Question 4

resources & capabilities

Answer 4

know how, assets, technology

Question 5

functional area strategies and programs

Answer 5

=supportive set of strategy imperatives

manufacturing, innovation, brand-building,…strategy

Question 6

3cs

strategic triangle

Answer 6

customer, company, competitors
marketing = to create a difference between a companys offering and that of its competitors on an attribute important to customers

Question 7

marketing strategy vs corporate strategy

Answer 7

basic orientation, long-term planning horizon
vs
market-driven process, taking into account constantly changing business environment, need to deliver superior customer value by combining customer-influencing strategies into a coordinated set of market-driven actions

Question 8

marketing strategy implementation

Answer 8

one of companys several functional strategies

dominant functional strategy

marketing strategy=corporate strategy

Question 9

essential ingredients for market orientation

Answer 9

market orientation of:

a) organizational culture (layer of values,norms,artifacts)
b) organizational structure (customer aspects, position marketing)
c) organizational processes (cross-functional sharing of market related knowledge and information, stressing customer contact, implement principle of internal custormer)

Question 10

market orientation

Answer 10

hear voices of customers and adapt to competitive requirements
act in a market driven way
but: watch out to also drive market

Question 11

market driven vs driving graph

Answer 11

draw graph

Question 12

market driven company

Answer 12

accepts market structure and behavior as given

Question 13

market driving company

Answer 13

shape market structure and behavior,….

Question 14

How to drive markets

Answer 14

shape market structure (deconstruction, construction, functional-modification)

shape market behavior (directly, indirectly)
constraints, preferences of customers/competitors

Question 15

PEST(LE)

Answer 15

which… developments are relevant for formulating a marketing strategy

Question 16

scenario funnel?

Answer 16

developments in future are predetermined by present conditions
further look in the future the wider the spectrum of potential developments
several potential scenarios are provided based on trends, disruptive events, decision points

Question 17

segmentation targeting and positioning process

Answer 17

a) identify, profile distinct groups of buyers and theirs needs and preferences
b) select one or more segments to adress
c) establish and communicate the benefits of the companys offering in selected segments

Question 18

criteria for defining relevant market

Answer 18

comapnies, products, buyers, needs

Question 19

variables for market segmentation

Answer 19

criteria:
socio-demographic
buying behavior based
benefits and needs
general personality characteristics
georgraphic criteria

differences B2B B2C !

Question 20

targeting strategies

Answer 20

undifferentiated
differentiated
concentrated marketing

Question 21

positioning

Answer 21

the act of designing the company´s offering and image to occupy a distinct place in the mind of the target market

most successful=perceived as unique by customer
uniqueness, differentiation, similarity (cost)

Question 22

formulating a positioning strategy

Answer 22

determine category membership
define point-of-parity
define point-of-difference
-x positioning statement

Question 23

levels of competition matrix

Answer 23

draw

Question 24

value chain analysis

Answer 24

infrastructure
design x production x distribution/sales

=X profit margin

Question 25

SWOT + methods

Answer 25

…. combines macro and micronenvironment analysis

compares external OT with internal SW

Question 26

Ansoff´s product-growth matrix

Answer 26

is concerned with companys innovation orientation:

is it possible to innovate in products or in markets

Question 27

blue ocean

eliminate reduce increase create factors

Answer 27

red ocean: compete existing market, beat competition, exploit existing demand, make value cost tradeoff
strategic choice of differentiation or low cost

blue ocean: create uncontested market space, make competition irrelevant, create and capture new demand, break value cost tradeoff,
pursuit of differentiation and low cost

=X value innovation

Question 28

innovation management

an important trend

Answer 28

product life cycle shorter
top three priorities for large majority of companies
can disrupt whole markets, create new ones
can deliver social, ecological value
R&D spending x innovation

Question 29

innovation ambition matrix

Answer 29

…

Question 30

innovation

advantages, disadvantages

Answer 30

….

Question 31

adoption diffusion

Answer 31

decision individual make use bes course action available

communicated through certain channels over time among participants of a social system

Question 32

Bass model

Answer 32

diffusion model which represents an approach to predict the future market development for innovations