Marketing Strategy / Edition 2

Marketing Strategy / Edition 2

by Steven P. Schnaars
     
 

Marketing Strategy has become a classic centrist marketing text. Now, Steven Schnaars has updated and revised this clearly written, classroom-tested, and essential text to accommodate rapid changes in the business world. Combining his centrist approach to basic theory with practical real-world examples, this updated edition includes new and expanded chapters

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Overview

Marketing Strategy has become a classic centrist marketing text. Now, Steven Schnaars has updated and revised this clearly written, classroom-tested, and essential text to accommodate rapid changes in the business world. Combining his centrist approach to basic theory with practical real-world examples, this updated edition includes new and expanded chapters on price as a competitive weapon (with a discussion on "everyday low pricing" versus hi-low promotional pricing"), speed as a strategy (including the strategic uses of computers), globalization (including the customization-standardization debate), and customer satisfaction. Throughout, Schnaars focuses on the three Cs: customers, competition, and changing market trends.

Product Details

ISBN-13:
9780684831916
Publisher:
Free Press
Publication date:
11/01/1997
Edition description:
REVISED
Pages:
240
Product dimensions:
5.80(w) x 9.30(h) x 0.70(d)

Table of Contents

Chapter 1: MARKETING'S INFLUENCE ON STRATEGIC THINKING

CONSUMER ORIENTATION

The Marketing Concept

Criticisms of the Marketing Concept

Should You Ignore Your Customers?

Technology-Driven Companies

Faith, Instinct, and Determination

Action Versus Analysis Paralysis

Planning Versus Doing

Strategy's Response

In Defense of the Marketing Concept

Production-Oriented Firms

A COMPETITOR FOCUS

DUAL CONSUMER AND COMPETITOR ORIENTATIONS TOWARD MARKETS

Mini-Case: Gatorade

Mini-Case: Diet Rite Cola Versus Coke and Diet Pepsi

THE POWER OF EXTERNAL EVENTS

Technological Change

Demographic Shifts

Social Changes

Government Deregulation

SPECIAL RESOURCES

MARKETING AS A BOUNDARY-SPANNING FUNCTION

NOTES

Chapter 2: A BRIEF HISTORY OF MARKETING STRATEGY

DEFINITION AND SCOPE OF MARKETING STRATEGY

MILESTONES IN THE HISTORY OF MARKETING STRATEGY

1950s: Budgeting and the Search for Overall Strategy

1960s: The Decade of Long-Range Planning

The Decline of Long-Range Planning

1970s: The Decade of Portfolio Planning

The Decline of Formula Planning

1980s: Porter's Generic Strategies

1990s: Restructuring, Customer Satisfaction, and Speed as Strategy

CURRENT TRENDS IN MARKETING STRATEGY

1. Strategic Thinking: From Elitism to Egalitarianism

2. From Calculation to Creativity

3. From Precision in Planning to Learning and Adaptation

CONNECTIONS WITH THE PAST

NOTES

Chapter 3: ASSESSING COMPETITIVE INTENSITY
ECONOMIC MODELS OF COMPETITION

The Assumptions of Perfect Competition

Monopoly Power Is Rare

Types of Imperfect Competition

FACTORS AFFECTING COMPETITIVE INTENSITY

1. Barriers to Entry

2. Intensity of Rivalry

3. Competition from Substitutes

4. Bargaining Power of Customers

5. Bargaining Power of Suppliers

USES OF COMPETITIVE ANALYSIS

1. Fitting the Current Environment

2. Anticipating Market Changes

3. Picking a Market to Enter

4. Reconfiguring the Rules of Competition

5. Protecting the Status Quo

NOTES

Chapter 4: COMPETING ON COSTS: THE RISE AND FALL OF EXPERIENCE EFFECTS AND THE GROWTH-SHARE MATRIX

EXPERIENCE EFFECTS

Experience Effects Versus Economies of Scale

Experience Effects Versus Learning Effects

Sources of Experience Effects

THE EXPERIENCE CURVE

The Case of Pocket Calculators

THE RELATIONSHIP BETWEEN COSTS AND PRICES

THE MERITS OF MARKET SHARE AND MARKET GROWTH

THE GROWTH-SHARE MATRIX

The Source and Use of Funds

STRATEGIC PRESCRIPTIONS OF THE GROWTH-SHARE MATRIX

The Path to Success

Three Paths to Failure

CRITICISMS OF THE GROWTH-SHARE MATRIX

1. The Success of Low-Share Firms

2. The Futility of Market Share Gained

3. Success of Low-Growth Markets

4. Should Dogs Be Divested?

5. Harvesting Bread-and-Butter Products

6. Importance of Business "Relatedness"

7. Pursuing Experience Effects Hinders Innovation

8. The Confounding Effects of Shared Experience

9. Lower Prices Versus Market Share: Which Causes Which?

10. Internal Cash Flow

11. A Mechanical Response Instead of a Creative Solution

12. No Consideration of Product Differentiation

13. One Way to Win: An Obsession with Low Costs

THE RETURN OF COST COMPETITIVENESS

NOTES

Chapter 5: GENERIC STRATEGIES

PORTER'S THREE GENERIC STRATEGIES

Low-Cost Low-Price Selling

Product Differentiation

Market Segmentation

Stuck in the Middle

TREACY AND WIERSEMAN'S THREE VALUE DISCIPLINES

Operational Excellence

Customer Intimacy

Product Leadership

The Relationship Between Strategic Choice and Target Market

SHOULD FIRMS PURSUE ONLY ONE GENERIC STRATEGY?

NOTES

Chapter 6: COMPETING ON PRICE

CONDITIONS THAT FAVOR SELLING ON PRICE

When the "Gouge Gap" Is Too Wide

Mini-Case: The Battle Between National Brands and Private Labels

When There is a Shift in the Point of Differentiation

Mini-Case: Hallmark Cards — A Shift In Buying Behavior Leads to a Diminution of Competitive Advantage

When Products Become Commodities

When Markets Are Deregulated

When the Low-Price Formula Can Be Applied in a New Arena

Mini-Case: Staples — The Office-Supply Superstore

HOW TO COMPETE ON PRICE

Ruthless Cost Cuffing Through Reengineering

Stressing Equal Quality at Lower Prices

Specialization and Lower Prices

Copying and Cutting Prices

Letting Prices Dictate Costs

THE EFFECTS OF LOW-COST COMPETITION

NOTES

Chapter 7: DIFFERENTIATION STRATEGIES

BASIS OF DIFFERENTIATION

1. Superior Performance

2. Superior Design and Styling

Mini-Case: Oakley Sunglasses

3. A Product for Every Purpose

4. "On-the-Edge" Product Innovations

5. Luxury Goods and Services

6. Popular Mass-Market Brand Names

7. Exceptional Service

8. Greater Reliability and Durability

9. Convenience

10. Unique Distribution Channels

Price as a Point of Differentiation

THE HISTORY OF PRODUCT DIFFERENTIATION

Monopolistic Competition

Consumers' Preference for Variety

Real Versus Contrived Differences

WHAT TO DIFFERENTIATE

Core Product Features

Incidental Product Features

Product Intangibles

Accounting for Intangibles

REQUIREMENTS FOR SUCCESSFUL DIFFERENTIATION

Support Premium Prices with Sufficient Marketing

Keep the Gouge Gap Reasonable

Embrace Innovation

Keep Copycats at Bay

Protect Against the "Squeeze Play"

NOTES

Chapter 8: SEGMENTATION STRATEGIES

THE DIFFERENCE BETWEEN DIFFERENTIATION AND SEGMENTATION

The Argument for Alternative Strategies

Claims for Complementary Strategies

Reconciling the Relationship Between Differentiation and Segmentation

SEGMENTATION STRATEGIES

1. Go for the Largest Segment

2. Sell Multiple Products in Multiple Segments

3. Sell a Single Product to All (or Most) Segments

4. Focus on a Small Segment

5. Create a New Segment

6. Break Segments Into Even Finer Subsegments

THE BASIS OF SEGMENTATION

A Regional Focus

Demographics

Product Usage

Quality Niches

The Individual Consumer

MARKET RESEARCH AND SEGMENTATION

QUESTIONS ABOUT SEGMENTATION

Are Segments Created or Discovered?

To What Extent Do Segments Overlap?

Are Segments Stable?

Is Countersegmentation a Viable Option?

Is Segmentation for Small Firms Only?

NOTES

Chapter 9: COMPETITIVE DYNAMICS

COMPETITION BETWEEN PRICE POINTS

Venical Differentiation 112
1. Drawing Customers Up-Market with Higher Quality

Mini-Case: Gillette's Sensor Razor Versus the Low-Priced Disposables

2. Luring Customers Down-Market with Lower Prices

3. Pushing Products Up-Market

4. Pushing Products Down-Market

Mini-Case: The American Express Card

Collisions in Vertically Integrated Markets

Intensity of Rivalry in Venically Differentiated Markets

INCREASING PRODUCT VALUE

COMPETITION BETWEEN DIFFERENTIATORS

Horizontal Differentiation

Shifting Points of Differentiation

Mini-Case: Nike Versus Reebok

COMPETITION BETWEEN LOW-COST PRODUCERS

A Succession of Low-Cost Producers

Mini-Case: Microwave Ovens — A Succession of Low-Cost Producers

Price Shifting

Everyday Low Prices Versus High-Low Promotional Pricing

COMPETITION BETWEEN SEGMENTERS AND MASS MARKETERS

When a Segment Grows Larger and More Attractive

Mini-Case: Brian Maxwell's PowerBars

When Segmenters Steal Share from Market Leaders

Mini-Case: Specialty Coffees Versus Folgers and Maxwell House

Mini-Case: Microbreweries Versus Anheuser-Busch and Miller

Within-Segment Competition

NOTES

Chapter 10: MARKET-SHARE STRATEGIES

GAINING MARKET SHARE

When to Gain Share

How to Gain Share

HOLDING SHARE

How to Hold Share

HARVESTING STRATEGIES

Sustained Harvesting

Severe Harvesting

How to Harvest

ABANDONMENT

Poor Market Position

A Poor Fit with the Firm's Other Products

NOTES

Chapter 11: THE EVOLUTION OF PRODUCTS, MARKETS, AND NEW TECHNOLOGIES

TYPES OF INNOVATIONS

Incremental Innovations

New-to-the-World Innovations

THEORIES OF PRODUCT EVOLUTION

The "Great Men" Theory

Gradualism

Punctuated Equilibria

PATTERNS OF PRODUCT EVOLUTION

Macro Then Micro

Accumulation of Micro Leads to Macro

Micro Runs Out If No Macro

THE PRODUCT LIFE CYCLE

NOTES

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