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David W. Cravens
M.j. Neeley School of Business Texas Christian University
Nigel F. Piercy
Warwick Business School The University of Warwick
McGraw-frSiBI irwin
Boston Burr Ridge, IL Dubuque, IA New York San Francisco St. Louis Bangkok Bogota Caracas Kuala Lumpur. Lisbon London Madrid Mexico City Milan Montreal New Delhi Santiago Seoul Singapore Sydney Taipei Toronto
Table of Contents
PART ONE STRATEGIC MARKETING Chapter 1 Imperatives for Market-Driven Strategy 2
Market-Driven Strategy 3 Characteristics of Market-Driven Strategies 4 Determining Distinctive Capabilities 5 Classifying Capabilities 6 Creating Value for Customers 7 Becoming Market Driven 7 Corporate, Business, and Marketing Strategy 8 Corporate, Business, and Marketing Strategy 10 Components of Corporate Strategy 10 Corporate Strategy Framework 10 Business and Marketing Strategy 12 The Marketing Strategy Process 13 _ Challenges of a New Era for Strategic Marketing Escalating Globalization 18 Technology Diversity and Uncertainty 19 The Web 2.0 20 Ethical Behavior and Corporate Social Responsiveness 20 Summary 23 Appendix 1A Strategic Marketing Planning 27
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Matching Needs with Product Benefits 52 Defining and Analyzing Product-Markets 53 Forming Product-Markets 55 Illustrative Product-Market Structure 57 Describing and Analyzing End-Users 57 Identifying and Describing Buyers 58 How Buyers Make Choices 59 Environmental Influences 60 Building Customer Profiles 60 Analyzing Competition 61 Defining the Competitive Arena 61 Key Competitor Analysis 64 Anticipating Competitors 'Actions 66 Market Size Estimation 67 Market Potential 67 Sales Forecast 68 Market Share 68 Evaluating Market Opportunity 68 Developing a Strategic Vision About the Future Phases of Competition 70 Anticipating the Future 70 Summary 71 Appendix 2A Financial Analysis for Marketing Planning and Control 74
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PART TWO MARKETS, SEGMENTS, AND CUSTOMER VALUE 47 Chapter 2 Markets and Competitive Space 48
Markets and Strategies 49 Markets and Strategies Are Interlinked 49 Thinking Outside the Competitive Box 50 An Array of Challenges 50
Levels and Types of Market Segmentation 84 Market-Driven Strategy and Segmentation 86 Market Segmentation, Value Opportunities, and New-Market Space 86 Market Targeting and Strategic Positioning 87 Activities and Decisions in Market Segmentation 89 Defining the Market to Be Segmented 89 Identifying Market Segments 90 Segmentation Variables 90 Characteristics of People and Organizations 90 Product Use Situation Segmentation 91 Buyers 'Needs and Preferences 93 Purchase Behavior 94 Forming Market Segments 96 Requirements for Segmentation 96 Approaches to Segment Identification 98
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Customer Group Identification 99 Forming Groups Based on Response Differences 102 Finer Segmentation Strategies 104 Logic of Finer Segments 104 Finer Segmentation Strategies 105 Selecting the Segmentation Strategy 106 Deciding How to Segment 106 Strategic Analysis of Market Segments 106 Summary 109
Marketing Intelligence and Knowledge Management 147 Marketing Intelligence 147 Knowledge Management 148 Role of the Chief Knowledge Officer 148 Leveraging Customer Knowledge 148 Ethical Issues in Collecting and Using Information 149 Invasion of Customer Privacy 149 Information and Ethics 150 Summary 151
PART THREE DESIGNING MARKET-DRIVEN STRATEGIES 183 Chapter 6 Market Targeting and Strategic Positioning 184
Market Targeting Strategy 185 Targeting Alternatives 185 Factors Influencing Targeting Decisions 186 Targeting in Different Marketing Environments 187 Emerging Markets 188 Growth Markets 189 Mature Markets 190 Global Markets 192 Positioning Strategy 193 Selecting the Positioning Concept 195 Developing the Positioning Strategy 196 Scope of Positioning Strategy 197 Marketing Program Decisions 197 Determining Positioning Effectiveness 199 Customer and Competitor Research 200 Test Marketing 200 Analytical Positioning Techniques 201 Determining Positioning Effectiveness 201 Positioning and Targeting Strategies 202 Summary 202
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Contents
Product and Process Development 257 Product Development Process 25 7 Marketing Strategy and Market Testing 260 Market Strategy Decisions 260 Market Testing 260 Commercialization 263 Th e Marketing Plan 2 63 Monitoring and Control 263 Variations in the Generic New Product Planning Process 264 Summary 265
PART FOUR MARKET-DRIVEN PROGRAM DEVELOPMENT 289 Chapter 9 Strategic Brand Management 290
Strategic Brand Management 291 The Strategic Role of Brands 291 Brand Management Challenges 292 Brand Management Responsibility 296 Strategic Brand Management 296 ' Strategic Brand Analysis 298 Tracking Brand Performance 299 Product Life Cycle Analysis 300 Product Performance Analysis 300 Brand Positioning Analysis 301 Brand Equity Measurement and Management 301 Measuring Brand Equity 301 Brand Health Reports 301 Brand Identity Strategy 302 A Iternatives for Brand Identification 302 Brand Focus 303 Identity Implementation 304 Managing Brand Strategy 304 Strategies for Improving Product Performance 304 Managing the Brand Portfolio 306 Determining Roles of Brands 307 Strategies for Brand Strength 307 Strategic Brand Vulnerabilities 308
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Brand Leveraging Strategy 310 Line Extension 310 Stretching the Brand Vertically 310 Brand Extension 311 Co-Branding 311 Licensing 311 Global Branding 311 Internet Brands 312 Brand Theft 313 Summary 314
Analyzing the Pricing Situation 353 Customer Price Sensitivity 353 Cost Analysis 356 Competitor Analysis 357 Pricing Objectives 359 Selecting the Pricing Strategy 360 How Much Flexibility Exists? 360 Price Positioning and Visibility 362 Illustrative Pricing Strategies 362 Legal and Ethical Considerations 363 Determining Specific Prices and Policies 365 Determining Specific Prices 365 Establishing Pricing Policy and Structure 367 Pricing Management 367 Summary 369
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Contents
Defining the Selling Process 400 Sales Channels 401 Designing the Sales Organization 402 Sales Force Evaluation and Control 407 Internet Strategy 408 Strategy Development 409 Deciding Internet Objectives 409 E-Commerce Strategy 410 Value Opportunities and Risks 410 Measuring Internet Effectiveness 411 The Future of the Internet 411 Direct Marketing Strategies 412 Reasons for Using Direct Marketing 412 Direct Marketing Methods 413 Advantages of Direct Marketing 414 Direct Marketing Strategy 415 Summary 415
Product-Focused Design 459 Market-Focused Design 461 Matrix Design 461 New Marketing Roles 462 Organizing for Global Marketing and Global Customers 465 Organizingfor Global Marketing Strategies 466 Organizing for Global Customers 467 Summary 469
PART FIVE IMPLEMENTING AND MANAGING MARKET-DRIVEN STRATEGIES 443 Chapter 14 Designing Market-Driven Organizations 444
Trends in Organization Design 445 The New Organization 445 Managing Organizational Process 449 Organizational Agility and Flexibility 451 Employee Motivation 451 Organizing for Market-Driven Strategy 452 Strategic Marketing and Organization Structure 452 Aligning the Organization with the Market 452 Marketing Functions Versus Marketing Processes 453 Marketing as a Cross-Functional Process 454 Marketing Departments 456 Centralization Versus Decentralization 456 Integration or Diffusion 456 Contingencies for Organizing 457 Evaluating Organization Designs 457 Structuring Marketing Resources 459 Structuring Issues 459 Functional Organizational Design 459
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PART SIX
COMPREHENSIVE CASES Cases for Part Six 525
Case 6-1 Microsoft Corp. (B) 525 Case 6-2 Samsung Electronics Co. 533 Case 6-3 General Electric Appliances 539 Case 6-4 Slendertone 548 Case 6-5 Toyota 559 Case 6-6 Coca-Cola Co. (B) 566 Case 6-7 Keurig Inc. 571 Case 6-8 Dura-plast, Inc. 584 Case 6-9 Wal-Mart 595 Case 6-10 Blair Water Purifiers India 600 Case 6-11 Murphy Brewery Ireland, Limited 612 Case 6-12 Dairyland Seed Company 623 Case 6-13 International Business Machines 633
Case 6-14 L'Oreal Nederland B.V 644 Case 6-15 ESPN 652 Case 6-16 Cowgirl Chocolates 659 Case 6-17 Procter & Gamble Co. 671 Case 6-18 Amazon.com Inc. 679 Case 6-19 Nanophase Technologies Corporation Case 6-20 Cola Wars in China 698 Case 6-21 Smith & NephewInnovex 711 Case 6-22 Sun Microsystems 724 Case 6-23 Telus MobilityWhat to Do with Mike 730 Case 6-24 Tri-Cities Community Bank 744 Case 6-25 Cima Mountaineering, Inc. 750
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