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STRATEGIC MARKET MANAGEMENT GLOBAL PERSPECTIVES iPITI David A. Aaker Damien McLoughlin )WILEY A John Wiley and Sons, Ltd, Publication

CONTENTS Preface ix Acknowledgements Chapter 1 xiii Strategic Market Management: An Introduction and Overview What is a Business Strategy? Strategic Market Management Marketing and its Role in Strategy 1 3 10 15 PART I STRATEGIC ANALYSIS 19 Chapter 2 External and Customer Analysis External Analysis When Should an External Analysis be Conducted? The Scope of Customer Analysis Segmentation Customer Motivations Unmet Needs 21 21 25 26 26 31 35

Chapter 3 Competitor Analysis Identifying Competitors - Customer-Based Approaches Identifying Competitors - Strategic Groups Potential Competitors Competitor Analysis — Understanding Competitors Competitor Strengths and Weaknesses Obtaining Information on Competitors 41 43 45 46 47 52 58 Chapter 4 Market/Submarket Analysis Dimensions of a Market/Submarket Analysis Emerging Submarkets Actual and Potential Market or Submarket*Size Market and Submarket Growth Market and Submarket Profitability Analysis Cost Structure Distribution Systems Market Trends Key Success Factors Risks in High-Growth Markets 60 61 61 62 65 68 70 71 72 73 74

vi Contents Chapter 5 Chapter 6 Environmental Analysis and Strategic Uncertainty Technology Trends Consumer Trends Government/Economic Trends Dealing with Strategic Uncertainty Impact Analysis - Assessing the Impact of Strategic Uncertainties Scenario Analysis Internal Analysis Financial Analysis - Sales and Profitability Performance Measurement - Beyond Profitability Strengths and Weaknesses Threats and Opportunities From Analysis to Strategy Cases for the End of Part I Case 1 - Understanding and Working with Industry Trends. The Future of Newspapers Case 2 - Evaluating and Assessing the Implications of a New Business Model. Spotify - Identifying a New Value Proposition Case 3 - Competing Against Industry Giants. Competing Against Tesco PART II 79 81 83 89 92 93 95 " 99 100 103 107 109

110 113 113 120 126 CREATING, ADAPTING, AND IMPLEMENTING STRATEGY 131 Creating Advantage, Synergy, and Commitment versus Opportunism versus Adaptability The Sustainable Competitive Advantage The Role of Synergy Strategic Commitment, Opportunism, and Adaptability 133 134 139 142 Chapter 8 Alternative Value Propositions Business Strategy Challenges Alternative Value Propositions Superior Quality Value . 153 154 156 162 167 Chapter 9 Building and Managing Brand Equity Brand Awareness Brand Loyalty Brand Associations Brand Identity

175 176 177 179 186 Chapter 7

Contents vu Chapter 10 Energizing the Business Innovating the Offering Energize the Brand and Marketing Increasing the Usage of Existing Customers 194 195 199 207 Chapter 11 Leveraging the Business Which Assets and Competences Can Be Leveraged? Brand Extensions Expanding the Scope of the Offering New Markets Evaluating Business Leverage Options The Mirage of Synergy 213 214 216 220 221 222 225 Chapter 12 Creating New Businesses The New Business The Innovators Advantage Managing Category Perceptions Creating New Business Arenas From Ideas to Market 230 231 233 236 236

241 Chapter 13 Global Strategies Motivations Underlying Global Strategies Standardization Versus Customization Expanding the Global Footprint Strategic Alliances Global Marketing Management 246 247 251 255 257 261 Chapter 14 Setting Priorities for Businesses and Brands the Exit, Milk, and Consolidate Options The Business Portfolio Divestment or Liquidation The Milk Strategy Prioritizing and Trimming the Brand Portfolio 264 265 267 271 274 Chapter 15 From Silos to Synergy - Harnessing the Organization Silo-Driven Problems - The Case of Marketing Addressing the Silo Marketing Issues - Challenges and Solutions Organizational Levers and Their Link to Strategy Structure Systems People Culture A Recap of Strategic Marketing Management

Cases for the End of Part II Case 1 - Strategic Positioning. Alltech FEI World Equestrian Games 2010 282 283 • 285 286 287 290 292 295 299 302 302

viii Contents Case 2 - Leveraging a Brand Asset. Innocent Drinks Case 3 - Competing Against the Industry Giant. HTC - Something Beautiful Is Coming Case 4 - Creating a New Brand for a New Market. Tata Nano - Estimating the True Cost of the Cheapest Car in the World Case 5 - Transformative Innovation in the Developing World 306 311 316 322 Appendix: Planning Forms 330 Index 345