Ch01 Strategic Market MGT

Strategic Market Management
By
David A. Aaker
© 2005 John Wiley & Sons
Vice-Chairman, Prophet
Professor Emeritus, University of California at Berkeley
Business Strategy: The Concept and Trends in Its Management PPT 1-1
Part One
Introduction and Overview

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Chapter One
Business Strategy:
The Concept and Trends in
Its Management
“Plans are nothing,
planning is everything.”
- Dwight D. Eisenhower
“Even if you are on the right track, you’ll get
run over if you just sit there.”
- Will Rodgers
“Where absolute superiority is not
attainable, you must produce a relative one
at the decisive point by making skillful use
of what you have.”
- Karl von Clausewitz,

On War, 1832
What is a Business Strategy?
• The Product-Market Investment Strategy –

where to compete
• The Customer Value Proposition

• Assets and Competencies
• Functional Strategies and Programs
A Business Strategy
Where to Compete
The product-market investment decision
A Business
A Business Strategy
Strategy
How to Compete
Value Assets & Function area
proposition competencies strategies and programs
Business Strategy: The Concept and Trends in Its Management Figure 1.1 PPT 1-8
The Product-Market Investment
Strategy
• Invest to grow (or enter a product market)
• Invest only to maintain the existing position
• Milk the business by minimizing investment

• Recover as many of the assets as possible by

liquidating or divesting the business
The Customer Value Proposition
Perceived benefit to customer:
• Functional
• Emotional
• Social
• Self-Expressive
Customer Value Proposition Examples
• A good value
• Excellence on an important product or service attribute
• The best overall quality
• Product line breadth

• Innovative offerings
• A shared passion for an activity or a product
• Global connections and prestige
Assets and Competencies
Strategic Competency:
– What a business unit does exceptionally well
– Has strategic importance to the business
– Based on knowledge or a process

Strategic Asset:
– A resource
Functional Strategies and
Programs
• Manufacturing strategy • Global strategy
• Distribution strategy • Segmentation strategy
• Brand-building strategy • Quality program

• Communication strategy
• Customer relationship program
• Information technology
strategy
Strategic Options
• Quality • Product quality
• Innovation • Product line breadth
• Focus • Corporate social responsibility
• Being global • Brand familiarity

• Product attribute • Customer intimacy
• Product design
Strategic Market Management:
A Historical Perspective
• Budgeting
• Long-Range Planning
• Strategic Planning
• Strategic Market Management
Characteristics and Trends
• External Market Orientation • Entrepreneurial Thrust
• Proactive Strategies • Implementation
• Importance of Information • Global Realities

Systems
• Longer Time Horizon
• Knowledge Management
• Empirical Research
• On-Line Analysis and Decision
Making • Interdisciplinary Developments
Why Strategic Market Management?
• Precipitate the consideration of strategic choices.
• Force a long-range view.
• Make visible the resource allocation decision.
• Aid strategic analysis and decision making.
• Provide a strategic management and control system.

• Provide both horizontal and vertical communication and

coordination systems.
• Help a business cope with change.
Key Learnings
• A business strategy includes the determination of the product-
market scope and its dynamics (as reflected in the intensity of the
business investment), the customer value proposition, assets and
competencies, and functional strategies and programs.
• Available strategy options include quality, value, focus, innovation

global, product attribute, product design, product line breadth,
corporal social responsibility, brand familiarity, and customer
intimacy. A business strategy involves the selection and integration
of a set of strategic options.
• Strategic market management has evolved from and encompasses

budgeting, long-range planning and strategy planning.
• Strategic market management is externally-oriented, proactive,

timely, entrepreneurial, and globally supported by information
systems and knowledge management programs.
Ancillary Slides
“It isn’t that they can’t see the
solution, it’s that they can’t see the
problem.”
- G. K. Chesterton
“Experience, to most men, is like the
stern lights of a ship, which illuminate
only the track it has passed.”
- Samuel Coleridge
What is Strategy?
“Strategy is a framework which
guides those choices that determine
the nature and direction of an
organization.”
-Benjamin B. Tregoe &

John W. Zimmerman
“Top Management Strategy”
“Strategy is the creation of a unique
and valuable position, involving a
different set of activities.”
-Michael Porter
“What is Strategy?”
Harvard Business Review
“In terms of the three key players
(competitors, customers, company)
strategy is defined as the way in which a
corporation endeavors to differentiate
itself positively from its competitors,
using its relative corporate strengths to

better satisfy customer needs.”
-Kenichi Ohmae
“The Mind of the Strategist”
“Four dimensions define a business strategy:
the product-market investment strategy, the
customer value proposition, assets and
competencies, and functional strategies and
programs. The first specifies where to compete,
and the remaining three indicate how to

compete to win.”
-David Aaker
“Strategic Market Management”
Exercise
• Select a company
• What business are they in?
• Who are the direct and indirect
competitors?
• Is this company proactive or reactive?

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Strategic Market Management

Introduction and Overview

- Karl von Clausewitz,

• The Product-Market Investment Strategy –

• The Customer Value Proposition

• Assets and Competencies

• Functional Strategies and Programs

• Invest to grow (or enter a product market)

• Invest only to maintain the existing position

• Milk the business by minimizing investment

• Recover as many of the assets as possible by

Perceived benefit to customer:

• Excellence on an important product or service attribute

• The best overall quality

• Product line breadth

• A shared passion for an activity or a product

• Global connections and prestige

– What a business unit does exceptionally well

– Has strategic importance to the business

– Based on knowledge or a process

• Manufacturing strategy • Global strategy

• Distribution strategy • Segmentation strategy

• Brand-building strategy • Quality program

• Quality • Product quality

• Innovation • Product line breadth

• Focus • Corporate social responsibility

• Being global • Brand familiarity

• Product attribute • Customer intimacy

• Strategic Market Management

• External Market Orientation • Entrepreneurial Thrust

• Proactive Strategies • Implementation

• Importance of Information • Global Realities

• Precipitate the consideration of strategic choices.

• Force a long-range view.

• Make visible the resource allocation decision.

• Aid strategic analysis and decision making.

• Provide a strategic management and control system.

• Provide both horizontal and vertical communication and

• Help a business cope with change.

• Available strategy options include quality, value, focus, innovation

• Strategic market management has evolved from and encompasses

• Strategic market management is externally-oriented, proactive,

-Benjamin B. Tregoe &

using its relative corporate strengths to

and the remaining three indicate how to

• Is this company proactive or reactive?

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