The best complete summary of all lectures and selected readings for Companies, Brands, and Consumers (EBM215A05) in Semester 1A of the Marketing Analytics and Data Science program at RUG. Enhanced with a dynamic table of contents and meticulous organization for readability and easy studying.
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SUMMARY OF EVERYTHING YOU NEED
ALL LECTURES + SELECTED READINGS
E n h a n c e d w i t h a d y n a m ic t a b le o f c o n t e n t s .
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Table of Contents
Week 1 (Lecture 1 & Lecture 2).......................................................................... 8
Lecture 1 – Basics of Strategic Marketing ....................................................... 8
Marketing Assets & Capabilities................................................................... 8
Business Environment.................................................................................. 9
Opportunities & threats ............................................................................. 11
SWOT ......................................................................................................... 12
Strategic Market Orientation (SMO) .......................................................... 13
Competitive Strategies............................................................................... 13
Lecture 2 – Segmentation, Targeting & Positioning ...................................... 15
BCG growth-share matrix........................................................................... 15
Ansoff matrix ............................................................................................. 15
3 Stages of Marketing Strategy .................................................................. 16
1. Segmentation ................................................................................... 16
2. Targeting .......................................................................................... 18
3. Positioning ....................................................................................... 19
Innovation ................................................................................................. 21
Disruption & Innovation ............................................................................ 21
Week 2 (Lecture 3 & Lecture 4)........................................................................ 23
Lecture 3 – What is a brand & why does it matter? ...................................... 23
Brand: Company Perspective ..................................................................... 23
Brand: Consumer Perspective .................................................................... 24
3 Primary Functions of Brands: .................................................................. 25
Building Brand Equity................................................................................. 26
Priming ...................................................................................................... 26
Lecture 4 – Designing & Leveraging Brand Elements .................................... 27
Brand Elements ......................................................................................... 27
Typology of Feelings – Affective vs. Cognitive ............................................ 27
Comprehensive & Strategic approach to building brand equity ................. 29
4 Steps of Strategic Brand Management Process: ................................ 29
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Brand Resonance Pyramid: .................................................................. 29
Week 3 (Lecture 5)........................................................................................... 31
Lecture 5 – Leveraging Brand Extensions & Customization ........................... 31
Brand Extension ......................................................................................... 31
Advantages of Brand Extensions .......................................................... 32
Disadvantages of Brand Extensions ...................................................... 32
Evaluating Brand Extension Opportunities ........................................... 33
Thinking Styles: Analytic vs. Holistic ........................................................... 33
Brand Elasticity: What makes brands elastic? ............................................ 34
Brand Customization: another product development strategy .................. 35
Week 4 (Lecture 6)........................................................................................... 36
Lecture 6 – Marketing Mix ............................................................................ 36
Optimizing Marketing Investments ............................................................ 36
Basic Principle ...................................................................................... 36
Marketing Investment: Synergy vs. No Synergy ................................... 37
Empirical Generalization: Marketing Mix (4Ps) .......................................... 38
Promotion (Advertising) ....................................................................... 38
Price ..................................................................................................... 38
Product ................................................................................................ 39
Place/Distribution ................................................................................ 39
Product Life Cycle (vs. 4Ps) ........................................................................ 40
Consistency in 4Ps ..................................................................................... 40
4Ps affect more than Sales: .................................................................. 41
Services vs. Goods ..................................................................................... 42
Revenue Drivers in Services ................................................................. 43
The 7Ps of Service Marketing ............................................................... 43
Servitization ......................................................................................... 44
Services & Data .................................................................................... 44
Week 5 (Lecture 7 & 8) .................................................................................... 45
Lecture 6 – Consumer Psychology: The Self in the Marketplace. .................. 45
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What is Consumer Psychology? ................................................................. 45
What motivates consumers?: Self-concept................................................ 46
Self-concept theory .............................................................................. 46
Consumer Differentiation..................................................................... 47
Where do values come from? .................................................................... 47
(1) The Political Self – Why does it matter? .......................................... 47
(2) The Religious Self – Influence of Religion on Consumer Behavior ... 48
(3) Self-construal .................................................................................. 49
Goal and Goal Types .................................................................................. 50
How can I use this information as a marketer? .......................................... 51
Lecture 7 – Consumer Psychology: Affect and Consumer Behavior. ............. 52
What is affect or affective feelings? ........................................................... 52
Valence vs. Arousal .................................................................................... 52
Emotional Core of Consumer Behavior ...................................................... 53
Why build emotional connection with consumers? ............................. 53
Two emotions with two differential effects ......................................... 54
How can I use this information as a marketer? .......................................... 58
Week 6 (Lecture 9)........................................................................................... 60
Lecture 9 – Consumer Psychology: Strategizing Promotions To Attract
Consumers – Look At Brand Narratives ................................................ 60
What motivates consumers? (Recap) ........................................................ 60
Crafting Impactful Stories: Why do stories matter? ............................. 60
Crafting an Impactful Story: ................................................................. 61
Brand Narratives: What kind of narratives appeal to consumers? ............. 62
1. The Underdog Effect: ....................................................................... 62
Brand Archetype ........................................................................................ 68
Example of Brand Archetype: ............................................................... 69
Week 7 (Lecture 10) ......................................................................................... 70
Lecture 10 – Offline/Online/Mobile Dashboards – Future of Marketing ....... 70
Omnichannel Marketing ............................................................................ 70
Marketing Assets & Capabilities
Resource-based view (RBV): Management of strategic firm capabilities
is central for achieving competitive advantage. Build on core
competencies to gain competitive advantage.
➔ Marketing Assets: resource endowments the firm has built or
acquired over time, 4 main types:
o Customer-based assets
o Supply chain assets
o Internal marketing support assets
o Alliance-based marketing assets
➔ Marketing Capabilities: enable a firm to build sustainable
relationships with customers. Examples:
o Advertising, Promotion and Selling
o Pricing and Tendering
o Product and Service management
o Distribution and Logistics
➔ Dynamic Marketing Capabilities: process of creating new
knowledge and capabilities.
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➔ Adaptive Marketing Capabilities: processes that allow for the
anticipation of new developments and rapid reconfiguration.
Business Environment
➔ Macro-environment (PESTEL): political, economic, social (&
cultural), technological, environmental, legal .
o Scenario analysis: build multiple scenarios to form a
detailed and plausible view of how the business
environment might develop in the future.
▪ Look at moderate scenarios (not extreme ones).
▪ Focus on key driving factors of change, which are
high impact factors to firm strate gy.
➔ Industry/Sector: a group of firms with same principal product.
Sector is the same but for public services (e.g. health care,
education, social services).
o Industry Life Cycle:
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o Strategic groups: organizations within same industry,
based on scope of activities (products range, geographical
coverage, distribution...) & resource commitment
(brands, marketing spend...).
▪ Important: being in a strategic group does not mean
they are your direct competitors.
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