斯隆管理学院04年营销策略PPT02

15.834MarketingStrategy15.834MarketingStrategy•Casesandlectures•LetterofComplaint15.834MarketingStrategyObjectives•Identify,evaluate,anddevelopmarketingstrategies•Evaluateafirm’sopportunities•Anticipatecompetitivedynamics•Evaluatethesustainabilityofcompetitiveadvantages15.834MarketingStrategyTargetAudience•Consultants•InvestmentAnalysts•Entrepreneurs•ProductManagers15.834MarketingStrategyIWhatIsMarketingStrategy?WhatisMarketingStrategy?FindingProfitOpportunitiesCreatingCompetitiveAdvantageChallengingCompetitiveAdvantageCreatingCorporateAdvantage15.834MarketingStrategyQuestion:Howcanafirmearnsustained,superiorreturns?1.Createvalue2.Capturevalue3.ContinuetodothisAMarketingStrategyisanintegratedsetofchoicesabouthowwewillcreateandcapturevalue,overlongperiodsoftime.15.834MarketingStrategyAgoodmarketingstrategymeetsthreetests1.Externalconsistency2.Internalconsistency3.Dynamicconsistency15.834MarketingStrategyExternalfit:FindingProfitOpportunitiesMarketingStrategyTechnologySuppliersCustomersCompetitorsComplementorsEndUserPreferencesTheEnvironmentshapes,andisshapedby,MarketingStrategy.15.834MarketingStrategyValueCreation:SomeDefinitionsValuecreated:Customerwillingnesstopay-supplieropportunitycostValuecreatedbyafirm=Valuecreatedbyall-ValuecreatedbyallothersAplayerisyourcompetitorif-customersvalueyourproductlesswhentheyhavehersaswell-suppliersvalueyourbusinesslesswhentheyhavehersaswellAplayerisyourcomplementorif-customersvalueyourproductmorewhentheyhavehisaswell-suppliersvalueyourbusinessmorewhentheyhavehisaswell15.834MarketingStrategyInternalFit:CreatingCompetitiveAdvantageSupplierOpportunityCostMarketingStrategyFirmResourcesCompetitorResourcesResourceInvestmentsCustomerWillingnesstoPayGoodmarketingstrategiesarebasedonresourceadvantagesandthelatterarecreatedbyspeedorgambles;ofteninareaswhereresourcesarenotpricedoutdirectlyorinthecoverofcompetitorignorance.15.834MarketingStrategyDynamicFit:ChallengingCompetitiveAdvantageUpsettheindustryandresourcefitsofestablishedcompetitors.NewTechnologies,NewSuppliersNewResourcesNewMarketingStrategiesNewNeeds,NewCustomers15.834MarketingStrategyCorporateAdvantageaddsvaluetomultiplebusinesses.CorporateResourcesCorporateMarketingStrategiesBusiness1Business215.834MarketingStrategyIIFindingProfitOpportunitiesWhatisMarketingStrategy?FindingProfitOpportunitiesCreatingCompetitiveAdvantageChallengingCompetitiveAdvantageCreatingCorporateAdvantageLobstersDisneyComputergamesBrowsers15.834MarketingStrategy•todecideonentry/exit•toassesstheeffectofamajorchange•topositionyourfirmtosucceedinagivenenvironment•toshapetheenvironmentTocraftaneffectivemarketingstrategy,youmusttakeaccountoftheenvironmentButtheenvironmentisenormouslycomplexYouneedstructuredwaysofthinkingaboutit–tocapturetherichness–butseparatesignalfromnoise15.834MarketingStrategySomeComplementaryApproaches•ClassicalEconomics(SupplyandDemand)•“Old”IndustrialOrganizationEconomics(5forces)•NoncooperativeGameTheory(Oligopolyequilibrium)•CooperativeGameTheory(Valuenet)15.834MarketingStrategyFromSupply/Demandto5Forces•Whatdeterminesthelongrunsupply/demandbalance?(entry/exitbarriers)•Whatdeterminestheeffectofatemporaryimbalanceonprofitability?(pricewars/bargainingpowers)Weneedtoknowthedeterminantsofthepositionandshapeofthe2curves.15.834MarketingStrategyUsingthe5Forces•Identifylong-runindustryprofitability•Identifypressuresonprofits•Identifywaystoalterindustrystructure•Identifyattractivepositions15.834MarketingStrategyFrom5ForcestoNonCooperativeGameTheory•Ifyouaresosmartwhyaren’tothers?•Whatwouldyoupaytogetintoanattractiveindustry?Weneedtoknowwhattheentrybarriersare,andwhowillgetoverthem.GameTheoryRBV15.834MarketingStrategyUsingNon-CooperativeGameTheory•Forecastindustryevolution•Decideonentry/exit•Identifycriticalcompetitors•Decidewhichgameyouwanttoplay15.834MarketingStrategyHorizontalTradingRelationships:ForecastingIndustryEvolutionwithIncreasingReturns•Increasingreturnsarethetendencyforthatwhichisaheadtogetfurtherahead,andforthatwhichlosesadvantagetolosefurtheradvantage•smalldifferencesininitialconditionscancauselargedifferencesinlong-runoutcomesex:Networkeffectscandwarfproducteffects.“Better”productscanloseouttoproductsthat“fitbetter”.15.834MarketingStrategyForVerticalTradingRelationships:FromNon-CooperativetoCooperativeGameTheory•Whichgamedoweallwanttoplay?•Howcanweavoidkillingeachother?Inthelongrunwewouldexpectthemostefficientindustrystructure-thatwhichcreatesmostvalueintotal.Splittingthepieisanotherquestion.15.834MarketingStrategyCooperativeGameTheoryandMarketingStrategy•Productdesign•Allocationofmanufacturingtasks•Sellereffortsatinformationsupply•BuyereffortsatinformationacquisitionExpectedvaluecreationislargestwhenthefollowingarechosenoptimally15.834MarketingStrategyIIICreatingCompetitiveAdvantageWhatisMarketingStrategy?FindingProfitOpportunitiesCreatingCompetitiveAdvantageChallengingCompetitiveAdvantageCreatingCorporateAdvantageCTScannersAspertameFlightSafetyWal-MartMarksandSpencer15.834MarketingStrategyToday’sOverview•Industry,firm,cor