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Theories of Marketing Summary Lectures and All Article - Grade 8.8/10

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Cours
Theories of Marketing (6012B0420Y)

Établissement
Universiteit Van Amsterdam (UvA)

This is a course of the master Business Administration: Digital Marketing track at the UvA. This summary contains all the information to get a good grade for the exam. It covers all important sections, lectures, and articles. The exam is split into 5 topics. All topics are explained in the summary....

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Publié le 15 octobre 2024
Nombre de pages 21
Écrit en 2023/2024
Type Resume

theories of marketing
marketing
articles
lectures
summary
uva

Établissement
Universiteit van Amsterdam (UvA)
Cours
Business Administration
Cours
Theories of Marketing (6012B0420Y)

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Strategy - topic 1, 3, 4

TOPIC 1 - MARKETING THINKING
1985: marketing is about distributing goods and exchanges. Spreading awareness about
your product.
2011: marketing is about creating value for customers,organization ets. We start with the
customer and then we go back in the value chain.

From market share to waller share (how much your target group spends on your in the
category). From transaction & product driven to relation & value driven.

Marketing concept = organizational purpose to identify and satisfy needs and desires of
customers; create value and satisfy.

Two main marketing decisions
1. Segmentation = understanding customers behavior; who will be your customer
a. needs/desires, effects/reaction, research techniques
2. Value differentiation = creating customer value = marketing strategy
a. value and innovation, branding, customer relationship

Marketing development, different stages
Product-centric: mass market
Customer-oriented: social needs
Value-driven:
Digital-driven: whole experience

Art 1: Narver & Slater (1990)
Market orientation = organizational culture that most effectively and efficiently creates the
necessary behavior for the creation of superior value for buyers, long term superior
performance.

Cultural mindset
- Customer orientation
- Competitor orientation
- Inter-functional coordination
2 criteria:
- Long term focus
- Profitability

MO positive effect on business profitability
Non-commodity business: unique, linear effect. Investing in MO allows them to understand
their segment better, differentiating.
Commodity businesses: standardized, U-shaped effect. Fully embracing MO allows them to
unlock additional profit potential and higher returns.

1

,Art 2: Slater & Narver (1998)
Total MO = responsive MO + proactive MO

Responsive MO (customer-led)
- Expressed needs
- Responsive
- Short-term
- Customer surveys/focus groups
- Stable environment
- Satisfaction & relationship
- Responsive MO can lead to success in stable environment, not in dynamic
- Tyranny of the served markets: managers only look at their current customer.

Proactive MO (market-oriented)
- Latent needs
- Proactive
- Long-term
- Lead-user, experimentation
- Turbulent environment
- Innovation & unserved markets
- MO is essential for succes

Art 3: Homburg (2017)
Customer experience = someone's responses (behavioral, sensorial, effective, cognitieve,
relational) to a brand by living through a journey of touchpoints, continually comparing
previous experiences.

Good CE may enhance customer loyalty.

Customer experience management (CEM) is the development of a network-oriented value
proposition. 3 tiers:
- Cultural mindset - focus on CE
- Experiential response orientation
- Touchpoint journey orientation
- Alliance orientation
- Strategic decisions - design strategies to improve CE, focus on the whole journey
- Firm capabilities - continuously renewal CE; deliver new improved CE

Focus on the whole journey!!!
Network-oriented value proposition!!! creating value within a networked environment (e.g.
nespresso)

Company ambidexterity = exploitation & exploration
CEM builds upon the foundation of MO and marketing concept

2

, Art 4: De swaan (2022)
4 succes factors
3 high performance marketing principles
- Big data + insight: knowledge about what customers do and why they do it
- Total experience: the whole journey; all touchpoints; deepen relationships
- Purposeful positioning: functional, emotional and societal benefits; impact on life
Importance of alignment
- Alignment of the whole organization: crucial to deliver brand experience. Whole
organization must work together on all the touchpoints.

TOPIC 3 - VALUE AND EQUITY INNOVATION
Marketing strategy is a value proposition in different levels in the organization

Value proposition = positioning + targeting
1. Targeting: choose target group; common need
2. Positioning: decide position in people's mind
a. Frame of reference: how you define your market; choose your own
competitors
b. Point of difference: what sets you apart from competitors
c. Reason to believe: what is proof of pudding

2 main criteria for value propositon: relevance & differentiation

Art 1: Lemon (2001)
Customer equity = what is the whole customer based what you attracted worth for the
company over the longer term, measured by customer lifetime value→ profitability that you
will gain by your customers

Value equity, brand equity, relationship equity → customer attraction & customer retention →
Customer lifetime value → customer equity → profitability

Effectiveness of our marketing actions should attract, keep and grow customers.

Three drivers of customer equity - marketing strategy levers (improve strategy)
- Value equity: improving the offering (price)
- Brand equity: improving the brand value around the offering (brand awareness)
- Relationship equity: improving the relationship between consumer and firm (loyalty
programs)

Marketing tactics = the execution of your marketing strategy. Only positional advantage if
marketing strategy is implemented.

Marketing strategy process - Core of marketing
- Value identification: internal and external analysis (swot)
- Day: capabilities an resources
- Value definition: value proposition
- Lemon: value equity, brand equity, relationship equity
Value delivery: implementation (marketing tactics)

3

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