Summary Advanced Marketing Lectures 1 and 2

Advanced Marketing
Lecture I+II: Intro + Recap 5
1. Marketing 5
1.1. Conceptualisation 5
1.2. Position in business society 6
1.3. Position in academia 7
2. Strategic Market Management 8
2.1. Defining the business scope 9
2.2. Broadening the business scope 10
2.2.1. Market penetration 10
2.2.2. Product development 10
2.2.3. Market development 10
2.2.4. Diversification 11
2.2.5. Link with Abell diagram 11
2.3. Strategic analysis 11
2.3.1. Environmental analysis 11
2.3.2. Customer analysis 12
1. STP Logic 13
2. Perceptual maps 16
2.3.3. Competitor analysis 17
1. Identifying competitors 17
2. Assessing competitors 18
3. Competitive strategies 18
2.3.4. Market analysis 20
1. Product lifecycle 20
2. Porter’s 5 forces model 21
3. BCG portfolio analysis 22
4. SWOT analysis 22

Lecture III: Customer value 23
1. Conceptualisation 23
2. Operationalisation 23
2.1. Customer value: measurement 23
2.1.1. Highlights of “Assessing the value of commonly used methods for measuring
customer value: a multi-setting empirical study”: 23
2.1.2. Dimensionality/level/relativity? 24
2.1.3. Practicality/actionability of the methods 24
3. Strategic role 25
3.1. Customer value: consequences 25
3.1.1. Importance of customer value 25
3.1.2. Consequences of customer value 25
3.2. Customer value: Hierarchy in dimensions 25
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, 3.2.1. Differentiation from competitors 25
3.2.2. Brand personality 26
3.2.1. Law of differentiation dynamics 26
3.2.2. The Kano model 27
3.2.1. Identifying value-enhancing service elements 27

Lecture IV: Product + 28
1. Recap: product in the marketing mix 28
1.1. Situation in the marketing mix 28
1.2. Definition 28
1.3. Types of product 29
1.3.1. Consumer product types 29
1.3.2. Types of buying decision behaviour 29
1.3.3. Business product types 30
1.4. Products vs. services 30
1.4.1. Approaches to ‘service quality’ measurement 30
1.5. Product Lifecycle Management 31
2. Advancing on product 31
2.1. Post-modern marketing & symbolic consumption 31
2.1.1. Traditional vs. Postmodern marketing 31
2.1.2. Postmodernity - Image and experience 31
2.1.3. Postmodernity - Individual and tribes 32
2.1.4. Modern and postmodern research approaches 32
2.2. SD-logic & value creation 33
2.3. P2P Economy 33
2.3.1. SD-logic in the sharing economy 33
2.3.2. Consumer issues in online P2P platforms 33
2.4. From market driven to market driving companies 34

Lecture V: Promotion 35
1. Recap ‘Promotion’ in the marketing mix 35
1.1. Marketing Communications 35
1.1.1. Definition 35
1.1.2. Effectiveness: AIDA 35
1.1.3. Promotion tools - Media - Message 36
Tool 1: Advertising 36
Tool 2: Sales promotion 36
Tool 3: PR 36
Tool 4: Direct marketing 36
Tool 5: Personal selling 37
Pro’s and cons for each tool 37
Media 37
Message 37
1.2. Branding 38
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, 1.2.1. Definition 38
Defining a ‘brand’: expert interpretations 38
Intrinsic vs. extrinsic brand attributes 38
1.2.2. Why brand? 39
1.2.3. Types of brands - Owner based 39
1.2.4. Branding strategies 39
2. Advancing on ‘Promotion’ 40
2.1. Branding: identity vs. image 40
2.2. Brand personality 41
2.3. Brand equity measurement 41
2.3.1. Financial brand equity 42
2.3.2. Customer-based brand equity 42
2.3.3. Brand equity: financial vs. customer based 43
2.3.4. Creating brand equity 43
2.4. Putting brands in perspective 44
2.5. Social media marketing 44
2.6. AI in advertising 45
2.6.1. A dark side of AI possibilities: Cambridge Analytica 45
2.6.2. Situating AI in marketing 46
2.6.3. How does AI work? 46
2.7. Congruence is key - IMC in a social media era 47

Lecture VI: Price+ and Place+ 49
1. Recap ‘Price’ in the marketing mix 49
1.1. Definition 49
1.2. Pricing strategies 49
1.2.1. Price setting methods 49
1.3. Pricing new products 50
2. Advancing on Price 51
2.1. Determining the optimal pricing point 51
2.1.1. Pricing new offerings 51
2.1.2. Exam question 52
2.2. Topical pricing methods 52
3. Recap ‘Place in the marketing mix 53
3.1. Definition 53
3.2. Role of intermediation 53
3.3. Distribution intensity and congruence with MM 53
4. Advancing on ‘Place’ 54
4.1. The Long-Tail theory 54
4.2. Shopper marketing 55
4.3. The age of Omnichannel & Phygital Commerce 55

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