Strategic Marketing and Practice
Full course description
In an increasingly dynamic environment companies require a capacity to continuously learn about and swiftly respond to markets. Fundamental to this is the customer perspective, the recognition that company success comes from delivering superior customer value. Marketing traditionally has advocated the customer focus; yet, today, marketing needs to take on a more strategic, coordinative role within the firm to craft more interactive strategies when it comes to consumers and partners. Thus, it is imperative for both marketing and non-marketing specialists to grasp how marketing helps the firm design strategies starting from the customer.
The course Strategic Marketing and Practice focuses on designing strategies from the market back to create, deliver, and sustain customer value in competitive and dynamic markets. To do so, this course deals with a comprehensive investigation and analysis of all major components of marketing strategy and their integration. This course takes a business-oriented setup by focusing on real life examples/cases and by allowing students to participate in a market simulation game. The objective of the simulation is to put into practice the concepts related to marketing strategy and the marketing mix in a risk-free environment.
In this course we will take the viewpoint of the Chief Marketing Officer (CMO). A CMO is not simply an implementer but rather a maker of organization strategy. More specifically, a CMO is expected to be a leader in defining the mission of a business, in analyzing competitive market situations, in developing business objectives and goals, and in defining customer value propositions and marketing strategies that create value for a business unit as a whole.
Hence, we will use this perspective to address the issues of (1) defining and developing the strategic goals of the organization; (2) identifying organizational growth opportunities through customer and market analysis; (3) formulating product-market strategies; and (4) budgeting marketing, financial and production resources.
Palmatier, R. W., & Sridhar, S. (2017). Marketing strategy: Based on first principles and data analytics. Macmillan International Higher Education. + academic articles