Week 2 - Strategic marketing (and instructor-led case analysis) Flashcards
What is e-types (case study)?
- Design company focusing on typography (for ads) based in Copenhagen
- Profitable, very busy – expanding base of international clients – 25 people
- History of mergers
What should e-Types present to the client?
Both as its pros and cons, it really depends what the client wants. Despite wanting to show off your talent as an artist, we also have focus on our business objectives by focusing on what the client wants.
What is Strategic Marketing?
Planned approach towards answering two questions:
(1) where should we compete
(2) how should we compete?
What does PLACE stand for?
which industry; not location
What’s the most popular framework for the study of structural forces that shape a firm’s strategy?
Porter’s forces framework
Threat of new entrant?
higher competition
Buyers threat?
buyers determine the price
Suppliers threat?
monopoly e.g. microsoft
Substitutes threat?
tech - don’t need taxis, ipod, cameras
We’re bias to…
dispositional factors > situational factors
bc. we feel like we have more sense of control
How to succeed in business?
Be in the right industry at the right time or create a new industry.
Additional factors of success?
It’s also about firms’ resources and managers’ capabilities in relation to their environment.
What are dispositional factors?
Relate to managers’ personality traits such as “openness to new experiences” represents curiosity and willingness to explore new ideas.
What are situational factors?
Relate to factors that are outside managers’ immediate control, like the environment, the actions of a supplier ( industry forces!)….
