This course is designed to give you a good understanding of how marketers develop and implement marketing strategies to meet with the needs of their customers while achieving their business objectives. The focus will be on understanding the basic concepts and application of marketing strategy in the form of case analysis, discussion of real-world examples, and development and presentation of marketing strategies. The course will emphasize the following key elements: Strategic Analysis of Market Opportunities and Marketing Strategy and Marketing Decision Making Process. The major emphasis of this process will be on application of the relevant marketing tools of analysis to the marketing decisions. Financial analysis of marketing decisions will be stressed. The competencies developed include: market opportunity analysis, strategic marketing analysis, product analysis and pricing analysis.
Tag Archives: Strategy
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Marketing Management
This course is designed to give the student a good understanding of how marketers develop and implement marketing strategies and programs to meet with the needs of their customers, while achieving their business objectives. The focus is on understanding of the basic concepts and application of the concepts in the form of case analysis, discussion of real-world examples, decision-making using game simulations, and development and presentation of marketing solutions. The course emphasizes the following key elements: 1. Strategic Analysis of Market Opportunities: Issues of focal concern include analysis of company, industry, competitors and customers, segmentation analysis, target segment selection, and product positioning; 2. The Marketing Program/Mix: The important elements include the 4 P’s of marketing mix, viz., product, price, promotion, and place (channels of distribution): and 3. Marketing Decision Making Process: This process enables the marketing manager to systematically organize the relevant issues to make appropriate decisions on marketing strategies and programs based on analysis of the market situation. The major emphasis of this process is on application of the relevant marketing tools of analysis to the marketing decisions. Financial analysis of marketing decisions is stressed. The course also highlights special topics in marketing such as digital or online or interactive or direct or Internet marketing, services marketing and international marketing, which are weaved into the course in the form of cases and industry examples.
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Strategic Allocation of Marketing Resources: Methods and Managerial Insights
by Venkatesh Shankar
This artcle was published as MSI Report, 08-207.
This article discusses how firms strategically allocate their resources between marketing and non-marketing variables, across products, markets, channels, customers and over the product life cycle. It presents resource allocation processes, models, and insights with examples drawn from different companies and industries. It highlights emerging methods and research directions in strategic resource allocation and planning for both executives and researchers.
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The Wireless Industry’s Killer ‘B’
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by Venkatesh Shankar, Tony O’Driscoll, and David Reibstein
This article was published in Strategy+Business, 31 (Summer 2003), 68-77.
We suggest a strategic approach and offer examples of firms successfully using m-business can provide an understanding how mobile technology will impact a firm’s business model and organization. An understanding of where monies are being spent in m-business in the industry as well as in complementary and competitive industries may be valuable as mobile technology’s core value proposition of anything, anywhere, anytime is hacking at the root of the industry-segmented mental model. The future opportunity for m-business truly lies in the cross-industry context rather than within the context of any given industry. Cultivation of the capability to recognize and act upon cross-industry value networks aimed at constantly enhancing customer value may the hallmark of successful firms in the wireless world. While firms need to grab the low-hanging fruits of wireless now, they also should look at changing the ways of doing business in the future mobile environment characterized by cross-industry coordinated value bundles for customers.
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The Effects of New Franchisor Partnering Strategies on Franchise System Size
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by Scott Shane, Venkatesh Shankar, and Ashwin Aravindakshan
This article was published in Management Science, 52 (May 2006), 773-787.
Why do some franchisors (corporate entities) such as Pearle Vision and Jazzercise grow larger than others? Is it due to effective pricing policy decisions, such as the royalty rates franchisors charge the franchisees for use of the franchise name and product and the up-front fixed fees? Or is it due to appropriate decisions related to strategic control of the franchise system, including the number and proportion of outlets owned and operated by the franchisor, the initial franchisee investment and how much financing the franchisor can offer? This paper examines what partnering strategies contribute to the expansion of a franchise system. We analyzed the evolution of franchise systems from their inception using data on 1,292 business format franchise systems from 152 industries that were established in theUnited Statesbetween 1979 and 1996. Our results show that franchisors that open more outlets typically: Lower royalty rates as their systems age; have low up-front franchise fees and raise them over time; own a small proportion of outlets and lower that percentage over time; keep franchisees’ initial investment low; and, finally, finance their franchisees. These strategic decisions increase the value of the franchise brands, reduce franchisee risk, and increase the attraction of new franchisees, thus explaining the growth to a larger franchise system. We also find that franchise system growth is negatively related to the proportion of company-owned outlets, which highlights the merits of minimizing ownership to achieve widespread growth. Hence, franchisors who want to grow larger may be able to use their financial resources to keep their franchisees’ initial investment in the outlets low and to finance franchisees, both of which can drive the expansion of a franchise system.
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An Empirically Derived Taxonomy of Retailer Pricing and Promotion Strategies
by Ruth N. Bolton and Venkatesh Shankar
This article was published in the Journal of Retailing, 79 (2003), 213-224.
Most research categorizes grocery retailers as following either an EDLP or a HiLo pricing strategy at a store or chain level, whereas this paper studies retailer pricing and promotions at a brand-store level. It empirically examines 1,364 brand-store combinations from 17 chains, 212 stores and six categories of consumer package goods in five U.S. markets. Retailer pricing and promotion strategies are found to be based on combinations of four underlying dimensions: relative price, price variation, deal intensity and deal support. At the brand-store level, retailers practice five pricing strategies, labeled exclusive, moderately promotional, HiLo, EDLP, and aggressive pricing. Surprisingly, the most prevalent pricing strategy is characterized by average relative brand price, low price variation, medium deal intensity, and medium deal support. The findings provide some initial benchmarks and suggest that retailers should closely monitor their competitors’ price decisions at the brand level.
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Store Shelf Strategy
The effect of aisle adjacency and display of one product category on the sales of another.
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Handbook of Marketing Strategy
Edited by Venkatesh Shankar and Gregory S. Carpenter
http://www.e-elgar.com/bookentry_main.lasso?currency=US&id=13920
This authoritative, comprehensive, and accessible volume by leading global experts provides a broad overview of marketing strategy issues and questions, including its evolution, competitor analysis, customer management, resource allocation, dynamics, branding, advertising, multichannel management, digital marketing and financial aspects of marketing.
Contributors: T.J. Arnold, G.S. Carpenter, D. Chandrasekaran, J.A. Czepiel, M.G. Dekimpe, C. Frennea, G.F. Gebhardt, K. Gielens, R. Grewal, D.M. Hanssens, K. Helsen, D.L. Hoffman, D.B. Holt, K.E. Jocz, K.L. Keller, R.A. Kerin, V. Kumar, M.B. Leiberman, V. Mittal, D.B. Montgomery, T.P. Novak, R.W. Palmatier, J.A. Quelch, B. Rajan, J.S. Raju, R.C. Rao, B.T. Ratchford, J.H. Roberts, D.D. Rucker, G. Sabnis, R. Sethuraman, V. Shankar, G. Tellis, R. Varadarajan, P.C. Verhoef, R.S. Winer
This authoritative, comprehensive, and accessible volume by leading global experts provides a broad overview of marketing strategy issues and questions, including its evolution, competitor analysis, customer management, resource allocation, dynamics, branding, advertising, multichannel management, digital marketing and financial aspects of marketing.
The Handbook comprises seven broad topics. Part I focuses on the conceptual and organizational aspects of marketing strategy while Part II deals with understanding competition. Customers and customer-based strategy, marketing strategy decisions, and branding and brand strategies are covered in the next three parts while Part VI looks at marketing strategy dynamics. The final part discusses the impact of marketing strategy on performance variables such as sales, market share, shareholder value and stakeholder value. All of the chapters in this Handbook offer in-depth analyses of research developments, provide frameworks for analyzing key issues, and highlight important unresolved problems in marketing strategy. Collectively, they provide a deep understanding of and key insights into the foundations, antecedents and consequences of marketing strategy.
This compendium is an essential resource guide for researchers, doctoral students, practitioners, and consultants in the field of marketing strategy.
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Determinants and Role of Trust in E-Business: A Large Scale Empirical Study
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by Yakov Bart, Venkatesh Shankar, Fareena Sultan, and Glen Urban
This research investigates the determinants and role of consumer trust in e-business. It examines consumer perceptions of trust in a Web site and addresses the following key research questions: What factors influence consumer trust in a Web site and what specific Web site trust cues are associated with these factors? How does trust affect consumer behavioral intent on a Web site? To address these questions, we develop a conceptual model that links consumer perceptions of Web site characteristics, consumer characteristics and demographics to perceptions of trust in a Web site, and trust to behavioral intent related to a Web site. We also examine whether trust mediates the relationship between Web site and consumer characteristics and behavioral intent related to the Web site. We test our hypotheses in a large-scale empirical study that estimates this model from 6831 consumers across 25 Web sites and eight industry categories. We validate the model using a holdout sample. The results show that Web site, consumer, category and demographic variables can explain 76% of the variance in trust. Web site characteristics such as privacy and security, navigation, presentation, brand, and advice account for as much as 98% of this explained variance in Web site trust. Surprisingly, over 80% of the explained variance in Web trust is due to factors other than privacy and security—mainly navigation, brand, advice, absence of errors, and presentation. We also find that trust mediates the relationships between Web site and consumer characteristics and behavioral intent related to Web sites. The results offer important implications for Web site strategies that include the manipulation of factors influencing Web site trust to favorably impact consumer behavior at the Web site.
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Digital Business Strategy
This course is designed to give you a good understanding of strategic digital business thinking for start-ups and bricks and mortar corporations (bricks and clicks businesses). It will cover digital business strategy formulation and implementation of programs to meet with the needs of the customers, while achieving the business objectives. The focus will be on understanding of the basic digital business concepts and frameworks and application of the concepts in the form of case analysis, discussion of real-world examples, and development and presentation of digital business ideas and plans. The course will emphasize the following key elements: 1. Strategic analysis of digital business opportunities: Issues of focal concern include analysis of the e-business space including markets, business models, company, competitors and customers, segmentation analysis, target segment selection, and product positioning. 2. Digital business steps: The important elements include digital business vision, digital strategy, digital business model, marketing, and organization in the digital environment. 3. Digital business plan: This includes the process of writing and presenting a business plan for a digital business venture. It involves your team coming up with a digital business idea or concept, writing and presenting a detailed business plan based on that concept. The course will also highlight special topics in marketing such as B2B, B2C and wireless in the form of cases and several industry examples. An innovative feature of this intensive course is a presentation of your business plan summary to venture capitalist(s) and to other digital business experts and an ability to receive feedback from them.