Strategic Marketing Management : Planning, Implementation and Control

by Wilson; Gilligan

• ISBN13: 9780750659383
• ISBN10: 0750659386
• Edition: 3rd
• Format: Paperback
• Copyright: 2005-01-12
• Publisher: Elsevier Science

Summary

This third edition of Strategic Marketing Management confirms it as the classic textbook on the subject. Its step- by- step approach provides comprehensive coverage of the five key strategic stages: * Where are we now? - Strategic and marketing analysis * Where do we want to be? - Strategic direction and strategy formulation * How might we get there? - Strategic choice * Which way is best? - Strategic evaluation * How can we ensure arrival? - Strategic implementation and control This new revised and updated third edition has completely new chapters on 'The Nature and Role of Competitive Advantage' and 'The Strategic Management of the Expanded Marketing Mix', and extensive new material covering: * The changing role of marketing * Approaches to analysing marketing capability * E-marketing * Branding * Customer relationship management * Relationship management myopia * The decline of loyalty The book retains the key features that make it essential reading for all those studying the management of marketing - a strong emphasis on implementation, up to date mini cases, and questions and summaries in each chapter to reinforce key points. Widely known as the most authoritative, successful and influential text in the sector, the new edition remains an irreplaceable resource for undergraduate and graduate students of business and marketing, and students of the CIM Diploma. * Further materials include: Tutor Resource Pack and "Evolve" site *

Table of Contents

Preface	xi
Overview of the book's structure	xiii
Introduction	1	(40)
Learning objectives	3	(1)
The nature of marketing	3	(4)
The management process	7	(4)
Strategic decisions and the nature of strategy	11	(8)
The marketing/strategy interface	19	(18)
Summary	37	(4)
Stage One: Where are we now? Strategic and marketing analysis	41	(224)
Marketing auditing and the analysis of capability	43	(34)
Learning objectives	45	(1)
Introduction	45	(5)
Reviewing marketing effectiveness	50	(3)
The role of SWOT analysis	53	(17)
Competitive advantage and the value chain	70	(1)
Conducting effective audits	71	(4)
Summary	75	(2)
Segmental, productivity and ratio analysis	77	(40)
Learning objectives	79	(1)
Introduction	79	(1)
The clarification of cost categories	80	(1)
Marketing cost analysis: aims and methods	81	(5)
An illustration of segmental analysis	86	(2)
An alternative approach to segmental analysis	88	(1)
Customer profitability analysis	89	(12)
Marketing experimentation	101	(1)
The nature of productivity	102	(2)
The use of ratios	104	(3)
Analysing ratios and trends	107	(2)
Ratios and interfirm comparison	109	(3)
A strategic approach	112	(4)
Summary	116	(1)
Market and environmental analysis	117	(50)
Learning objectives	119	(1)
Introduction: the changing business environment (or the new marketing reality)	119	(1)
Analysing the environment	120	(8)
The nature of the marketing environment	128	(8)
The evolution of environmental analysis	136	(3)
The political, economic, social and technological environments	139	(10)
Coming to terms with the industry and market breakpoints	149	(4)
Coming to terms with the very different future: the implications for marketing planning	153	(6)
Approaches to environmental analysis and scanning	159	(6)
Summary	165	(2)
Approaches to customer analysis	167	(54)
Learning objectives	169	(1)
Introduction	169	(1)
Coming to terms with buyer behaviour	170	(4)
Factors influencing consumer behaviour	174	(8)
The buying decision process	182	(6)
The rise of the new consumer and the implications for marketing planning	188	(4)
Organizational buying behaviour	192	(10)
The growth of relationship marketing	202	(12)
Summary	214	(7)
Appendix: The drivers of consumer change	215	(6)
Approaches to competitor analysis	221	(44)
Learning objectives	223	(1)
Introduction	223	(7)
Against whom are we competing?	230	(6)
Identifying and evaluating competitors' strengths and weaknesses	236	(5)
Evaluating competitive relationships and analysing how organizations compete	241	(5)
Identifying competitors' objectives	246	(2)
Identifying competitors' likely response profiles	248	(2)
Competitor analysis and the development of strategy	250	(1)
The competitive intelligence system	251	(4)
The development of a competitive stance: the potential for ethical conflict	255	(6)
Summary	261	(4)
Stage Two: Where do we want to be? Strategic direction and strategic formulation	265	(228)
Missions and objectives	269	(46)
Learning objectives	271	(1)
Introduction	271	(3)
The purpose of planning	274	(3)
Establishing the corporate mission	277	(13)
Influences on objectives and strategy	290	(4)
Guidelines for establishing objectives and setting goals and targets	294	(16)
The development of strategies	310	(3)
Summary	313	(2)
Market segmentation, targeting and positioning	315	(46)
Learning objectives	317	(1)
Introduction	317	(1)
The nature and purpose of segmentation	318	(5)
Approaches to segmenting markets	323	(3)
Factors affecting the feasibility of segmentation	326	(1)
Approaches to segmentation	327	(1)
The bases for segmentation	328	(2)
Geographic and geodemographic techniques	330	(2)
Demographic segmentation	332	(6)
Behavioural segmentation	338	(3)
Psychographic and lifestyle segmentation	341	(4)
Approaches to segmenting industrial markets	345	(2)
Market targeting	347	(3)
Deciding on the breadth of market coverage	350	(3)
Product positioning	353	(6)
Summary	359	(2)
The formulation of strategy -- 1: analysing the product portfolio	361	(24)
Learning objectives	363	(1)
Introduction	363	(1)
The development of strategic perspectives	363	(4)
Models of portfolio analysis	367	(7)
Market attractiveness and business position assessment	374	(5)
Criticisms of portfolio analysis	379	(4)
Summary	383	(2)
The formulation of strategy -- 2: generic strategies and the significance of competitive advantage	385	(40)
Learning objectives	387	(1)
Introduction	387	(1)
Types of strategy	387	(3)
Porter's three generic competitive strategies	390	(6)
Competitive advantage and its pivotal role in strategic marketing planning	396	(27)
Summary	423	(2)
The formulation of strategy -- 3: strategies for leaders, followers, challengers and nichers	425	(68)
Learning objectives	427	(1)
Introduction	427	(1)
The influence of market position on strategy	427	(1)
Strategies for market leaders	428	(10)
Marketing strategy and military analogies: lessons for market leaders	438	(9)
Strategies for market challengers	447	(14)
Strategies for market followers	461	(2)
Strategies for market nichers	463	(2)
Military analogies and competitive strategy: a brief summary	465	(9)
The inevitability of strategic wear-out (or the law of marketing gravity and why dead cats only bounce once)	474	(4)
The influence of product evolution and the product life cycle on strategy	478	(6)
Achieving above-average performance and excellence	484	(5)
Summary	489	(4)
Stage Three: How might we get there? Strategic choice	493	(46)
The strategic management of the marketing mix	495	(44)
Learning objectives	497	(1)
Introduction	497	(1)
Product decisions and strategy	497	(1)
What is a product?	498	(2)
The dimensions of product policy	500	(5)
Brand strategies	505	(5)
The development of new products	510	(5)
Pricing policies and strategies	515	(2)
Approaches to price setting	517	(1)
Deciding on the pricing objectives	518	(2)
Methods of pricing	520	(2)
Using price as a tactical weapon	522	(1)
Promotion and marketing communications	523	(5)
Distribution strategies and the distribution plan	528	(1)
Channel management	528	(6)
The `soft' elements of the marketing mix	534	(2)
Integrating the elements of the marketing mix	536	(1)
Summary	536	(3)
Stage Four: Which way is best? Strategic evaluation	539	(128)
Criteria of choice	549	(38)
Learning objectives	551	(1)
Introduction	551	(2)
Financial versus non-financial criteria; effectiveness versus efficiency	553	(2)
Financial criteria	555	(10)
Non-financial criteria	565	(11)
Multiple criteria	576	(9)
Summary	585	(2)
Modelling approaches -- 1	587	(38)
Learning objectives	589	(1)
Introduction	589	(4)
Cost-volume-profit analysis	593	(17)
Investment appraisal	610	(14)
Summary	624	(1)
Modelling approaches -- 2	625	(42)
Learning objectives	627	(1)
Introduction	627	(1)
Allowing for risk and uncertainty	627	(15)
Matrix models	642	(6)
The marketing performance assessment model	648	(4)
Some other approaches to modelling	652	(12)
Summary	664	(3)
Stage Five: How can we ensure arrival? Strategic implementation and control	667	(146)
Problems to overcome	677	(46)
Learning objectives	679	(1)
Introduction	679	(1)
Pressures	680	(4)
Problems in the marketing subsystem	684	(4)
Problems of marketing feedback	688	(2)
Information adequacy	690	(7)
Cost problems	697	(6)
Marketing orientation	703	(8)
Planning orientation	711	(2)
Organizational issues	713	(8)
Summary	721	(2)
Management control --1	723	(42)
Learning objectives	725	(1)
Introduction to control	725	(1)
Control defined	726	(2)
Basic control concepts	728	(6)
Responsibility accounting	734	(13)
Approaches to control	747	(10)
Some behavioural factors	757	(5)
Summary	762	(3)
Management control -- 2	765	(48)
Learning objectives	767	(1)
Introduction	767	(1)
Controls	767	(31)
Taking corrective action	798	(11)
Management reports	809	(2)
Summary	811	(2)
Bibliography	813	(40)
Index	853