Exam: Wednesday dec 18, closed-book
Table of Contents
Chapter 1: What is Marketing Strategy? ................................................................ 2
Chapter 2: The Playing Field ................................................................................. 7
Chapter 3: The Behavior of the players ............................................................... 16
Chapter 4: Ethics in Marketing ........................................................................... 34
Chapter 5: The Rules of the Game ...................................................................... 40
Chapter 6: Dynamic Strategy Adaption ............................................................... 42
Exam Preparation .............................................................................................. 45
Steiner et al. (2016) - Platform Adoption in System Markets: The Roles of Preference
Heterogeneity and Consumer Expectations ........................................................ 46
Ritson (2024) - Distinctiveness versus DiSerentiation .......................................... 48
Hamilton and Chernev (2013) - “Low Prices are Just the Beginning” ..................... 49
Hingston and Noseworthy (2018): “Why Consumers Don’t See the Benefits of
Genetically Modified Foods, and What Marketers Can Do About It”. ..................... 54
Siebert et al (2020) - Customer Experience Journeys: Loyalty Loops Versus
Involvement Spirals .......................................................................................... 56
Sandel (2013): “Market Reasoning as Moral Reasoning: Why Economists Should Re-
engage with Political Philosophy.” ...................................................................... 59
Chaput & Paulsson (2023) - Bypassing the Animal: Plant-Based Meat and the
Communicative Constitution of a Moral Market .................................................. 62
McGrath (2013) - “Transient Competitive Advantage” .......................................... 65
,Exam: Wednesday dec 18, closed-book
Notes Marketing Strategy
Chapter 1: What is Marketing Strategy?
THE BRAND: VEGETARIAN BUTCHER
• Slogan: sacrifice nothing
• Goal: unleashing a food revolution which in turn unleashes all the animals from
the chain.
• Build via PR and Socials – They didn’t spend anything on media budget when they
started.
o Tapping into current a@airs
o Creating rumor around our product names – “little willies”
o Invite people to join the food revolution on social and in campaigns
• Present in many markets, with many di@erent customers.
• Not focused on vegetarians or vegans, but on the mass: the meat lovers.
• Everything is vegetarian, but not everything is vegan yet.
Case study - Vegetarian Butcher
At the Vegetarian Butcher we want to grow the meat replacement
category, why do we want to grow the category and not just our
brand sales? Growing the category will help us to meet our
purpose and in retailer conversations: if the category is small, they
won’t get shelf space.
Help the Vegetarian Butcher to grow the meat replacement category in retail channel.
How can we grow the category?
• More users
• More frequent
• More benefits/spend
Create a Marketing Strategy Plan to reach your objective which helps us to release
more animals from the food chain.
• What are the levers to reach your objective?
o Who is your target objective?
o What type of products will you focus on?
o What usage occasions will you focus on?
o What type of marketing support will help you meet your goal?
,Exam: Wednesday dec 18, closed-book
WHAT IS STRATEGY?
Strategy links goals (what we want to achieve) and actions (how we aim to achieve it).
E.g., To "lose 10 pounds in 3 months," the strategy could include a balanced diet plan
and regular exercise. Actions might be weekly meal prep and scheduling gym sessions.
• Components of Strategy:
o Goals: Represent the desired future, which is specific, measurable, and
time-bound.
o Strategies: Strategy is not a fixed blueprint; it must adapt to changes in
the environment.
o Actions/Tactics: Concrete, short-term tasks that can be measured and
evaluated.
• Levels of Strategy:
o Corporate: Broad goals for the company as a whole (e.g., increasing
shareholder value).
o SBU (Strategic Business Unit): Specific goals within business units (e.g.,
achieving market share growth).
o Functional: Departmental goals (e.g., sales targets, promotional
strategies).
MARKETING STRATEGY
The comprehensive approach a company uses to create and deliver value to its target
customers, aligned with the business’s broader goals. E.g.,: Netflix’s strategy of high-
quality, exclusive content to di@erentiate from competitors while maintaining a user-
friendly interface supports its goal to become the leading entertainment platform.
• Market Positioning: Deciding how to stand out in the market (e.g., premium vs.
budget-friendly).
• Strategic Orientation: Long-term direction focused on sustaining competitive
advantage.
OPERATIONALIZATION OF GOALS
Must be specific and measurable, either absolute (fixed target) or relative (in
comparison to competitors).
• Corporate Goal: “Be the best global entertainment provider” (Netflix).
• Functional Goal: “Increase email newsletter penetration by 10%” (Marketing
Department).
STRATEGIC INVESTMENTS AND TACTICS
• Strategic investments: Directing resources to key areas for long-term gains, like
R&D. E.g., Siemens invests in acquiring companies to expand in medical
technology.
• Tactics: Concrete actions to implement strategy, often aligned with specific
objectives. E.g.,: Borussia Dortmund scouting talent in underrepresented
leagues to build a strong youth-focused team.
, Exam: Wednesday dec 18, closed-book
FLEXIBILITY IN STRATEGY
• Plans must change with new challenges or unexpected events.
• Quote: "No plan survives contact with the enemy" (Helmuth von Moltke).
• Example: A company planning to expand internationally might need to adjust its
strategy based on local regulations or economic shifts.
EXAMPLES OF STRATEGY IN PRACTICE
• Volkswagen Group: Uses di@erent SBUs (e.g., Scania for trucks, Volkswagen for
cars) to target varied markets.
• Siemens: Focuses on innovation within medical technology by investing in
research and strategic acquisitions.
• Borussia Dortmund (BVB): Aims to re-establish itself among Europe’s top
soccer clubs by investing in young talents and smart buys.
“Actions Turn a Strategy into Results”
Marketing Strategy example: NETFLIX
Goal: Become the best global entertainment distribution service.
Strategy (Corporate = SBU)
• Build on easy access and superior customer experience (streaming)
• O@er the widest catalogue of content
• Di@erentiate through high-quality, exclusive series
• License entertainment content all over the world
Actions:
• Spend $15 billion in 2018 for own movie and series production
• Enable easy account switching, sharing the bill, providing App for mobile
devices, etc.
• Build a superior recommendation system based on advanced AI capabilities
WHAT IS MARKETING?
• Marketing involves more than just selling products; it's about creating value that
attracts and satisfies customers.
• Marketing is often understood as “push” to the consumer, but marketing is both –
push and pull, with a clear focus on pull. E.g., catering to consumers (latent)
need so that they demand the product or service.
• Marketing is a function with the firm (often paired with sales): Product, Pricing,
Promotion and Place.
o Value Creation: Builds an aspirational brand image that customers are
willing to pay for. E.g., By associating Nike with motivation and peak
performance, the brand becomes more than just gear—it’s a lifestyle.
Table of Contents
Chapter 1: What is Marketing Strategy? ................................................................ 2
Chapter 2: The Playing Field ................................................................................. 7
Chapter 3: The Behavior of the players ............................................................... 16
Chapter 4: Ethics in Marketing ........................................................................... 34
Chapter 5: The Rules of the Game ...................................................................... 40
Chapter 6: Dynamic Strategy Adaption ............................................................... 42
Exam Preparation .............................................................................................. 45
Steiner et al. (2016) - Platform Adoption in System Markets: The Roles of Preference
Heterogeneity and Consumer Expectations ........................................................ 46
Ritson (2024) - Distinctiveness versus DiSerentiation .......................................... 48
Hamilton and Chernev (2013) - “Low Prices are Just the Beginning” ..................... 49
Hingston and Noseworthy (2018): “Why Consumers Don’t See the Benefits of
Genetically Modified Foods, and What Marketers Can Do About It”. ..................... 54
Siebert et al (2020) - Customer Experience Journeys: Loyalty Loops Versus
Involvement Spirals .......................................................................................... 56
Sandel (2013): “Market Reasoning as Moral Reasoning: Why Economists Should Re-
engage with Political Philosophy.” ...................................................................... 59
Chaput & Paulsson (2023) - Bypassing the Animal: Plant-Based Meat and the
Communicative Constitution of a Moral Market .................................................. 62
McGrath (2013) - “Transient Competitive Advantage” .......................................... 65
,Exam: Wednesday dec 18, closed-book
Notes Marketing Strategy
Chapter 1: What is Marketing Strategy?
THE BRAND: VEGETARIAN BUTCHER
• Slogan: sacrifice nothing
• Goal: unleashing a food revolution which in turn unleashes all the animals from
the chain.
• Build via PR and Socials – They didn’t spend anything on media budget when they
started.
o Tapping into current a@airs
o Creating rumor around our product names – “little willies”
o Invite people to join the food revolution on social and in campaigns
• Present in many markets, with many di@erent customers.
• Not focused on vegetarians or vegans, but on the mass: the meat lovers.
• Everything is vegetarian, but not everything is vegan yet.
Case study - Vegetarian Butcher
At the Vegetarian Butcher we want to grow the meat replacement
category, why do we want to grow the category and not just our
brand sales? Growing the category will help us to meet our
purpose and in retailer conversations: if the category is small, they
won’t get shelf space.
Help the Vegetarian Butcher to grow the meat replacement category in retail channel.
How can we grow the category?
• More users
• More frequent
• More benefits/spend
Create a Marketing Strategy Plan to reach your objective which helps us to release
more animals from the food chain.
• What are the levers to reach your objective?
o Who is your target objective?
o What type of products will you focus on?
o What usage occasions will you focus on?
o What type of marketing support will help you meet your goal?
,Exam: Wednesday dec 18, closed-book
WHAT IS STRATEGY?
Strategy links goals (what we want to achieve) and actions (how we aim to achieve it).
E.g., To "lose 10 pounds in 3 months," the strategy could include a balanced diet plan
and regular exercise. Actions might be weekly meal prep and scheduling gym sessions.
• Components of Strategy:
o Goals: Represent the desired future, which is specific, measurable, and
time-bound.
o Strategies: Strategy is not a fixed blueprint; it must adapt to changes in
the environment.
o Actions/Tactics: Concrete, short-term tasks that can be measured and
evaluated.
• Levels of Strategy:
o Corporate: Broad goals for the company as a whole (e.g., increasing
shareholder value).
o SBU (Strategic Business Unit): Specific goals within business units (e.g.,
achieving market share growth).
o Functional: Departmental goals (e.g., sales targets, promotional
strategies).
MARKETING STRATEGY
The comprehensive approach a company uses to create and deliver value to its target
customers, aligned with the business’s broader goals. E.g.,: Netflix’s strategy of high-
quality, exclusive content to di@erentiate from competitors while maintaining a user-
friendly interface supports its goal to become the leading entertainment platform.
• Market Positioning: Deciding how to stand out in the market (e.g., premium vs.
budget-friendly).
• Strategic Orientation: Long-term direction focused on sustaining competitive
advantage.
OPERATIONALIZATION OF GOALS
Must be specific and measurable, either absolute (fixed target) or relative (in
comparison to competitors).
• Corporate Goal: “Be the best global entertainment provider” (Netflix).
• Functional Goal: “Increase email newsletter penetration by 10%” (Marketing
Department).
STRATEGIC INVESTMENTS AND TACTICS
• Strategic investments: Directing resources to key areas for long-term gains, like
R&D. E.g., Siemens invests in acquiring companies to expand in medical
technology.
• Tactics: Concrete actions to implement strategy, often aligned with specific
objectives. E.g.,: Borussia Dortmund scouting talent in underrepresented
leagues to build a strong youth-focused team.
, Exam: Wednesday dec 18, closed-book
FLEXIBILITY IN STRATEGY
• Plans must change with new challenges or unexpected events.
• Quote: "No plan survives contact with the enemy" (Helmuth von Moltke).
• Example: A company planning to expand internationally might need to adjust its
strategy based on local regulations or economic shifts.
EXAMPLES OF STRATEGY IN PRACTICE
• Volkswagen Group: Uses di@erent SBUs (e.g., Scania for trucks, Volkswagen for
cars) to target varied markets.
• Siemens: Focuses on innovation within medical technology by investing in
research and strategic acquisitions.
• Borussia Dortmund (BVB): Aims to re-establish itself among Europe’s top
soccer clubs by investing in young talents and smart buys.
“Actions Turn a Strategy into Results”
Marketing Strategy example: NETFLIX
Goal: Become the best global entertainment distribution service.
Strategy (Corporate = SBU)
• Build on easy access and superior customer experience (streaming)
• O@er the widest catalogue of content
• Di@erentiate through high-quality, exclusive series
• License entertainment content all over the world
Actions:
• Spend $15 billion in 2018 for own movie and series production
• Enable easy account switching, sharing the bill, providing App for mobile
devices, etc.
• Build a superior recommendation system based on advanced AI capabilities
WHAT IS MARKETING?
• Marketing involves more than just selling products; it's about creating value that
attracts and satisfies customers.
• Marketing is often understood as “push” to the consumer, but marketing is both –
push and pull, with a clear focus on pull. E.g., catering to consumers (latent)
need so that they demand the product or service.
• Marketing is a function with the firm (often paired with sales): Product, Pricing,
Promotion and Place.
o Value Creation: Builds an aspirational brand image that customers are
willing to pay for. E.g., By associating Nike with motivation and peak
performance, the brand becomes more than just gear—it’s a lifestyle.
