Marketing Management: The Big Picture

by Nordhielm, Christie L.

• ISBN13: 9780759347069
• ISBN10: 0759347069
• Edition: 1st
• Format: Paperback
• Copyright: 2004-10-01
• Publisher: Cengage Learning

Summary

The Big Picture is an integrated framework designed to help marketing students analyze and solve the myriad marketing problems that they will face during their careers. It emphasizes the dynamic nature of marketing by presenting key topics as a set of interrelated modules as opposed to separate chapters representing independent topics. Beginning with the high level strategic topic of business objective, it identifies areas where a person must prioritize and make dey decisions, then highlights how those decisions affect other elements of the framework. The continuous referencing of the framework and numerous illustrations of key concepts using the case analysis format encourages students to actively utilize the framework for solving marketing problems. In doing so, they internalize the approach to efficiently assess cases. The text consists of thirteen modules that move from higher level strategic topics such as business objective and marketing objective, through STP, and finally to the issue of how to integrate executional elements of product, price, distribution, and promotion with strategy.

Table of Contents

Preface: How This Project Came to Be

Statement of Purpose

Introduction to the Case Method vii Overview: The Materials

Synopsis and Content

Intended Audience

About the Author xi

Ethics: Tools and Responsibility

Everyday Ethical Practice

Motivation to Ethical Practice

Ethics and the Big Picture 1

Business Objective: Fundamental Entity

Varieties of Branding Strategies (Retail Branding, Umbrella Branding, Distinct Branding, Hybrid Branding)

Implications of Branding Strategies (Time frame, positioning, product risk, firm competencies)

Relationship of Fundamental Entity to Branding Strategy

Core Competence

Integration of Core Competence with Marketing Strategy

Core Business

The Goal Statement

Goal Criteria 7

Marketing Objective: Customer Definition

Attitudes vs. Behaviors

Customer Acquisition

Brand Loyalty (Heart, Head, Hand Loyalty)

Acquisition Activities

Retention

Retention Activities

Relationship to Business Objective 23

Source of Volume: Category Definition

Stimulate Primary Demand (New Users, New Volume, New Value)

Steal Share vs. Stimulate Demand, Pros and Cons

Subtle Strategic Distinctions...Relationship to Marketing Objective/Source of Volume

Evaluation of Strategy 35

Segmentation: Why segment a market?

Segmentation vs. Stereotyping

Segmentation Variables (Demographic, Behavioral, Attitudinal, Aspirational)

Main and Dynamic Segmentation Variables

Segmentation Criteria (Characteristics of the Variable, Consumer Needs, Company Capabilities)

Steps in the Segmentation Process

Relationship to Marketing Objective/Source of Volume 53

Targeting: Describing the Competitive Space...Plotting the Market (Steal Share vs. Stimulate Demand)

Target Audience Description

Purchase Process Description

Relationship to Marketing Objective/Source of Volume 71

Positioning: Focusing on a Communication Objective

The Five-box Strategy Format

Articulate Positioning (writing positioning statements, brand story/narrative, concept boards)

Relationship to Marketing Objective/Source of Volume 81

Product: Introduction to the 4P

Benefits vs. Features

The Product Lifecycle Fallacy (a.k.a. Managing the Product Lifecycle)

Product vs. Brand/Brand Equity

Assessing Brand Value

Product Involvement/Attributes: The Link Between Consumer and Product

Product Involvement and the Purchase Process

Product Involvement and Product Attributes

Relationship to Marketing Objective/Source of Volume 91

Product as Service: The Zone of Tolerance

Defining Elements of Services

Implications for Services Marketers

Customer Satisfaction and Customer Service

Relationship to Marketing Objective/Source of Volume 109

Marketing Communication: Advertising Objective (Basic Awareness, Top of Mind Awareness, Information, Image/Attitude, Behavior)

Copy Development (Positioning Statement, Concept Development, Production)

Media Choices

Setting Advertising Budgets

Relationship to Marketing Objective/Source of Volume 123

Pricing Strategy: Pricing and Surplus

Options for Capturing Surplus (Variable Cost Reduction, Price Discrimination, Value Pricing)

Steps in the Value Pricing Process

Value Pricing vs. Competitive Pricing

Pricing Tactics (Trial Pricing vs. Continuity Pricing)

Relationship to Marketing Objective/Source of Volume 131

Channel Strategy (Place): Channel Purpose and Description

Channel Flows and Functions

Channel Factors (Channel Length, Channel Breadth, Channel Depth)

Channel Conflict

Channel Power

Relationship to Marketing Objective/Source of Volume 151

Evaluate

Market Research: Why Do Market Research?...Models for Research

Research Design

Qualitative vs. Quantitative Research

Exploratory Research

Descriptive Research

Experimental Research

Sources of Data

Primary vs. Secondary Research

Market Research in the Big Picture

Market Research: 10 Questions 161

The Case Method: Background for Case Analysis: Identify (Leveraging Facts, Assumptions

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