Read the summary and the most important questions on Marketing Strategy and Competitive Positioning, 7th Edition | 9781292276557 | Prof Graham Hooley; Brigitte Nicoulaud; John Rudd; Nick Lee

• 1 Market-led Strategic Management

• 1.1 The concept and orientation

• What are three elements of the definition of marketing?

  Culture (customer orientation)
  Strategy (Value proposition and competitive positioning)
  Tactics (Action plan)

• What are the four components in the context of market orientation revolving around Market-led organizational culture?

  1. Customer orientation (Understanding customers to create superior customer value)
  2. Interfunctional co-ordination (Using all company resources to create value for target cutomers.
  3. Focus on long term (overriding business objective)
  4. Competitor orientation (awareness of short and long-term capability of competitors

• 1.2 Resource-based view of marketing

• What are the three marketing approaches?

  Product push marketing
  Customer-led marketing (find out what customers want)
  Resource based marketing (requirement is ability to service.)

• 1.3 Organisational stakeholders

• What is the link between market orientation, customer satisfaction and financial performances?

  Figure.

• 1.5 The role of marketing in leading strategic management

• What is the role of marketing in the development and the implementation of strategy?

  - Identification of customer requirements
  - Deciding on the competitive positioning to be adopted
  - Implementing the marketing strategy

• 2 Strategic marketing planning

• What is the essence of developing a marketing strategy?

  To ensure its capabilities are matches to the market environment in which it operates. (STRATEGIC FIT)

• 2.2 The marketing strategy process

• One the purpose has been defined, the marketing strategy can be crafted. Which levels are involved in the marketing strategy process?

  Establishment of the core strategy
  Creation of the company's competitive positioning
  The implementation of the strategy

• 2.3 Establishing the core strategy

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• What steps has to be taken when establishing the core strategy?

  1. Analysis of the organizational resources
  2. Analysis of the markets served

• What are the key objectives of portfolio planning?

  1. Development of business strategies and allocation of resources
  2. Analyzing portfolio balance

• What is the concept of strategic window when analysing the markets served?

  Strategic window focuses on the fact that there are only limited periods during which the fit between the requirements of the market and the capabilities of the firm is at an optimum.