Cbe session 1
- 2. Course Learning Objectives To facilitate theoretical inputs on contemporary issues and enable learning through comparative analysis of select firms. To develop skills required to effectively study the business environment of the industry in which the firm is operating on the respective issue. To evaluate the relevance of the marketing issue in the context of changing customer expectations and emerging technologies. To enable industry readiness of the students through collection, analysis of data and by developing conceptual thinking and decision making skills.
- 3. Course Learning Outcomes By the end of the course, students will be able to: Develop a conceptual model on the marketing issue that they will study. Do industry analysis, internal firm analysis, and value chain analysis from a marketing perspective combining all elements of the marketing mix. Critically evaluate the marketing issue, identify Key Success Factors of the chosen firm and provide solutions for improving the marketing effectiveness of the chosen firm. Develop inter personal and team working skills.
- 4. Marketing Issues Sl Issue Sl Issue Successful value creation / co-creation Role of technology in improving the 1 6 through bundling of products and /or marketing mix of a product category services Role of technology in improving the Relevance of brand positioning strategy 2 7 marketing mix of service category in today’s world Product line extensions and their Role of internal marketing in successful 3 8 effectiveness implementation of marketing strategy Success story of an innovative Customer engagement strategies & the 4 9 product / service company in India role of social media marketing Designing experiences, not products. Role of digital marketing in brand 5 10 What accounts for experiences that are building remembered, interesting and valued?
- 5. Course Outline Course Structure Develop a conceptual model on the topic## Choose a firm in an industry Collect data on the environment in which the firm operates Collect data on the variables in the conceptual model w.r.to the firm Present findings along with recommendations for improvement ## Some of the important research journals in marketing include Journal of Marketing, Journal of Marketing Research, Journal of Retailing, Journal of the Academy of Marketing Sciences, Journal of Advertising, Marketing Theory, European Journal of Marketing, Journal of Service Research, Journal of Macro Marketing, Journal of Consumer Research, Psychology & Marketing etc. Facilitation Basic theoretical inputs and guidance from the facilitator. Self-taught course with students leading the learning through class presentations. Evaluation Attendance and Class Participation - 10% Mid-Term Examination - 25% End-Term Examination - 40% Project Work - 25%
- 6. What do you mean by Business Environment Your thoughts How does the environment affect these brands?
- 7. Session Objective This session will enable students to: Understand definition of strategy Introduce the concept of Environment Analysis (PESTEL) Introduce the concept of Five Forces Model Establish the importance of environment & competitor analysis
- 8. What is Strategy? Operational Effectiveness vs. Strategy Necessary but not sufficient Strategic Positions Unique Activities & Strategic Positions (e.g. Indigo) Trade-offs - Sustainable Strategy Needs Trade-offs Right trade-offs (e.g. Rolex) Fit Drives competitive advantage and sustainability Reinforce the activities – tightly integrated – difficult to imitate Growth trap (Strategy vs. Growth) Leadership
- 9. What is strategy ? Strategy - Creation of a unique and valuable position, involving a different set of activities. The essence of strategic positioning is to choose activities that are different from rivals. Amazon, Flipkart Strategy is making trade-offs in competing. The essence of strategy is choosing what not to do. Without trade-offs, there would be no need for choice and thus no need for strategy. (Any good idea could and would be quickly imitated. Performance would once again depend wholly on operational effectiveness) BMW
- 10. What is Strategy? Strategy is creating fit among a company’s activities. Success depends on doing many things well–not just a few– and integrating among them. If there is no fit among activities, there is no distinctive strategy and little sustainability. South West Airlines
- 12. PESTEL Analysis of environmental influences 1. What environmental factors are affecting the organization? 2. Which of these are the most important at the present time? In the next few years? Political/legal Economic factors Monopolies legislation • Business cycles Environmental protection laws • GNP trends Taxation policy • Interest rates Foreign trade regulations • Money supply Employment law • Inflation Government stability • Unemployment • Disposable income • Energy availability and cost
- 13. PESTEL Analysis of environmental influences 1. What environmental factors are affecting the organization? 2. Which of these are the most important at the present time? In the next few years? Sociocultural factors Technological Population demographics • Government spending on Income distribution research Social mobility • Government and industry focus Lifestyle changes on technological effort Attitudes to work and leisure • New discoveries / development Consumerism • Speed of technology Levels of education • Rates of obsolescence
- 14. Porter’s Five Forces Model of Competition
- 15. Home Assignment M&M is aspiring to enter the two-wheeler business. Analyse the industry using Porter’s Five Forces Model