Strategic Market Management

Chapter 1 Strategic Market Management—An Introduction and Overview 1

What Is a Business Strategy? 3

Strategic Market Management 10

Marketing and Its Role in Strategy 14

PART ONE STRATEGIC ANALYSIS 17

Chapter 2 External and Customer Analysis 19

External Analysis 19

The Scope of Customer Analysis 23

Segmentation 23

Customer Motivations 28

Unmet Needs 31

Chapter 3 Competitor Analysis 39

Identifying Competitors—Customer-Based Approaches 40

Identifying Competitors—Strategic Groups 42

Potential Competitors 44

Competitor Analysis—Understanding Competitors 44

Competitor Strengths and Weaknesses 49

The Competitive Strength Grid 52

Obtaining Information on Competitors 55

Chapter 4 Market/Submarket Analysis 59

Dimensions of a Market/Submarket Analysis 59

Emerging Submarkets 61

Actual and Potential Market or Submarket Size 62

Market and Submarket Growth 63

Market and Submarket Profitability Analysis 65

Cost Structure 68

Distribution Systems 69

Market Trends 69

Key Success Factors 70

Risks in High-Growth Markets 71

Chapter 5 Environmental and Strategic Analyses 78

Environmental Analysis 79

Strategic Analysis 89

From Analysis to Strategy 96

PART TWO CREATING, ADAPTING, AND IMPLEMENTING STRATEGY 101

Chapter 6 Creating Advantage: Customer Value Leadership 103

Alternative Value Propositions 104

Customer Value Leadership 110

Managing for Customer Value Leadership 114

Chapter 7 Building and Managing Customer Relationships 122

The Customer Decision Journey 122

Managing Customer Experience 128

Toward Long-Term Customer Relationships 137

Chapter 8 Creating Valuable Customers 146

The Purchase Funnel 147

Customer Lifetime Models and Strategy Effectiveness 152

Customers as Valuable Assets 157

Chapter 9 Building and Managing Brand Equity 162

Brand Awareness 163

Brand Loyalty 164

Brand Associations 165

Brand Identity 171

Chapter 10 Toward a Strong Brand Relationship 180

Understanding and Prioritizing Brand Touchpoints 180

Focusing on the Customer’s Sweet Spot 182

How to Create or Find a Customer Sweet Spot 184

Get Beyond Functional Benefits 185

Broadening the Concept of a Brand 187

Chapter 11 Energizing the Business 194

Innovating the Offering 195

Energizing the Brand and Marketing 200

Increasing the Usage of Existing Customers 208

Chapter 12 Leveraging the Business 214

Which Assets and Competencies Can Be Leveraged? 215

Expanding the Scope of the Offering 220

New Markets 221

Evaluating Business Leveraging Options 222

The Mirage of Synergy 224

Chapter 13 Creating New Businesses 230

Create “Must Haves,” Rendering Competitors Irrelevant 231

The Innovator’s Advantage 234

Managing Category Perceptions 236

Creating New Business Arenas 237

From Ideas to Market 242

Chapter 14 Global Strategies 248

Motivations Underlying Global Strategies 249

Standardization vs. Customization 253

Expanding the Global Footprint 257

Strategic Alliances 259

Global Marketing Management 262

Chapter 15 Setting Priorities for Businesses and Brands 266

The Business Portfolio 267

Divestment or Liquidation 269

The Milk Strategy 272

Prioritizing and Trimming the Brand Portfolio 275

Chapter 16 Harnessing the Organization 283

Customer-Centric Organizational Cultures 284

Customer-Centric Competencies 286

Customer-Centric Organizational Structure 288

Metrics and Incentives for Customer Centricity 291

Leading for Customer Centricity 292

Customer-Centric Talent 294

Chapter 17 How Marketing Activities Create Value for Companies 303

The Impact of Customer and Brand Equity on Firm Revenues 304

The Effect of Marketing Assets on Firm Value 307

How Markets Value Marketing Assets 311

Managing Marketing to Contribute to Firm Value 314

Case Studies 320

The Energy Bar Industry 320

Assessing the Impact of Changes in the Environment 322

Creating a New Brand for a New Business 324

Competing Against the Industry Giant 326

Leveraging a Brand Asset 329

Appendix A: Internal Analysis 332

Appendix B: Planning Forms 339

Notes 354

Index 367

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