營(yíng)銷(xiāo)戰(zhàn)略第一原理和數(shù)據(jù)分析英文版課件Marketing-Strategy-Chapter-4-ver

?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.1MarketingStrategyChapter4MarketingPrinciple#3AllCompetitorsReactManagingSustainableCompetitiveAdvantageAgendaIntroductionApproachesforManagingSustainableCompetitiveAdvantageEvolutionofSustainableCompetitiveAdvantageinMarketingCustomerEquityPerspectiveCustomerExperimentsFrameworkforManagingCompetitiveAdvantageInputstotheSustainableCompetitiveAdvantageFrameworkOutputsoftheSustainableCompetitiveAdvantageFrameworkProcessforManagingSustainableCompetitiveAdvantageTakeawaysCase2?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.AllCompetitorsReactThepersistenteffortsbyallfirmsinthemarkettocopyandinnovate,suchthatallcompetitorsreact,constitutesathirdchallengethatmanagersconfrontThus,whenmanagersdeveloptheirmarketingstrategies,theyneedtoconsidercustomersheterogeneityanddynamism,butalsoanticipatecompetitors’reactions,nowandinthefuture,tobeabletobuildbarriersthatholdupagainstsustainedcompetitiveassaults,termedsustainablecompetitiveadvantages(SCA)TypicallyafirmmustestablishthesustainablepositionwithatargetedcustomergroupbeforetheycanbuildanSCAaroundthatpositionOfthefourFirstPrinciplesofmarketing,managingSCAmaybethemostdifficulttoexecute?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.3BuildingSCAsisKeySince“AllCompetitorsReact”?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.“Theartofwarteachesustorelynotonthelikelihoodoftheenemy’snotcoming,butonourownreadinesstoreceivehim;notonthechanceofhisnotattacking,butratheronthefactthatwehavemadeourpositionunassailable.” SunTzu4Example:Tesco(UK)UKgrocerygiant,world’sthirdlargestretailerExpandedtoothermarkets,includingUS,butfailedtobuildanSCAthatworkedinthosemarketsIntroducedlargestoreswithmassiveassortments,butmanyUSconsumersprefertovisitseveralstoresthatoffersmaller(butdeeper)assortmentsOverestimatedconsumers’preferencesforlocalbrandsExitedtheUSin2013?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.5SustainableCompetitiveAdvantages(SCA)AfirmhasanSCAwhenitisabletogeneratemorecustomervaluethancompetitivefirmsinitsindustryforthesamesetofproductsandservicecategoriesandwhentheseotherfirmsareunabletoduplicateitseffectivestrategyAgoodSCAmeetsthreecriteria:CustomerscareaboutwhatthisSCAoffersThefirmdoesitbetterthancompetitors,whichgeneratesarelativeadvantageTheSCAmustbehardtoduplicateorsubstitute,evenwithsignificantresourcesThus,beingfirsttomarketwithanewideaisnotsufficienttocreateabarriertocompetitors,especiallyifdeep-pocketedmarketleadersrecognizethethreatofaninnovativenewentrantanddevotetheirresourcestoprotecttheirsalestoexistingcustomersTomakeanSCAhardtocopy,firmsoftenturntokeymarket-basedsourcesofSCAs6?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.6Marketing-BasedSourcesofSustainableCompetitiveAdvantageTherearethreemarket-basedsourcesofsustainablecompetitiveadvantageBrands–ismosteffectiveinlargeconsumermarketsMoreeffectiveforconsumergoodsAdvertising,PR,sponsorsOfferings–effectivebecausenewandinnovativeproductsandserviceshavethepotentialtodisruptvirtuallyanymarketsegmentR&DNewproductsandservicesNewtechnologiesRelationships–mosteffectiveinbusiness-to-business,service,andcomplexofferingsettingsMoreeffectiveforB2Bgoods,services,intangibles,andcomplexorriskyofferingsSalespeople,anyboundaryspanner,onlinerelationshipsThesethreesourcesofsustainablecompetitiveadvantage—brands,offerings,andrelationships(BOR)—areadditiveandoftenworksynergisticallytogiveafirmastrongrelativepositioninthemarketplace?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.7Example:Starbucks(US)Starbuckshasahigh-qualitybrand(valuedat$5.4billion)thatcustomersfeelemotionallyattachedtoDistinctiveofferingofuniquecoffee-baseddrinksandstoreenvironmentsCustomersdeveloprelationshipswiththeemployeesintheirlocalstores,whoremembertheirdrinkordersorrecognizethembynameThesesourcesofSCAs,generatedfromeffectiveBORstrategies,worktogethertoincreasecustomers’loyalty,andcompetitorsfinditveryhardtoovercomethesebarriers.Starbuckscontinuestoinnovateitsofferings(e.g.,Teavanateaproducts)andtechnology-basedservices(e.g.,mobilepayment)tomaintainitsSCAinthiscategory?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.8Example:Maruti(India)Maruti(nowMaruti-Suzuki)ledIndia’sdomesticautomobilemarketfornearly30years,largelybecauseoflawsthatlimitedtheentryofforeignfirmsWithaliberalizedmarket,newplayerssuchasVolkswagenandFordhaveincreasedthecompetitivepressureonMaruti,whichthusfarhasprovenunabletoreinventitselftoserveIndia’syounger,moreaffluentmiddleclass?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.9Market-basedSourcesofSCAs?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.10SourceBarrierstoDuplicationWhereitisMostEffectiveExamplesBrandsBrandimagesresideinconsumers'minds,whichmakesthemdifficulttoduplicate;facilitateshabitualbuyingthroughawarenessandprovidesidentitybenefitstocustomersLargeconsumermarkets(softdrinks,beer,fashion,automobiles)BMW,Anheuser-BuschOfferingsCostbenefits,performanceadvantages,accesstodistributionchannelsMostmarkets,technology-basedbusinesses(software,electronics)AppleiPhone,Bose,TeslaRelationshipsLeadstotrust,commitment,andinterpersonalreciprocalbondsthatarehardtobuildorduplicateBusiness-to-businessmarkets,services,complexproducts(testequipment,haircut,financialservices)EdwardJones,GrangerInClassExerciseonSCATakeafewminutestodescribe3purchasesBoughtforbrand_______________Toptworeasonswhy__________&____________Whatwouldittakeforyoutochange_______________Boughtforoffering_______________Toptworeasonswhy__________&____________Whatwouldittakeforyoutochange_______________Boughtforrelationship_______________Toptworeasonswhy__________&____________Whatwouldittakeforyoutochange_______________IfittakesalotforyoutochangethenfirmhasbuiltastrongSCA11?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.11CompetitiveReaction:AFundamentalAssumptionofMarketingStrategyCompetitorscandisplacefirmsinmanydifferentways,including:TechnicalinnovationsthatprovidecompetitorswithaplatformtolaunchadisruptiveofferingExploitingchangesincustomers’desiresduetocultural,environmental,orotherfactorsIndividualentrepreneurshipthatconstantlyseeksabetterwaytosolveaproblem“Me-too”copycatsthatimprovetheefficiencyoreffectivenessofanexistingexecutionThus,managersneedtoanticipatecompetitors’reactions,nowandinthefuture,bybuildingbarriersorsustainablecompetitiveadvantagesthatcanwithstandcompetitiveassaults?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.12MarketingPrinciple#3:allcompetitorsreactandaneffectivemarketingstrategymustmanagerthefirm’ssustainablecompetitiveadvantage(SCA)AgendaIntroductionApproachesforManagingSustainableCompetitiveAdvantageEvolutionofSustainableCompetitiveAdvantageinMarketingCustomerEquityPerspectiveCustomerExperimentsFrameworkforManagingCompetitiveAdvantageInputstotheSustainableCompetitiveAdvantageFrameworkOutputsoftheSustainableCompetitiveAdvantageFrameworkProcessforManagingSustainableCompetitiveAdvantageTakeawaysCase?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.13EvolutionofApproachesforManagingSustainableCompetitiveAdvantageinMarketing

?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.1SourcesofSCAFactorsAffectingtheSourcesofSCAsRelationshipsBrandsOfferingsPre-IndustrialAgeIndustrialRevolutionTechnologyRevolutionServicesRevolutionProducerisboththemarketerandtheretailer.Salesaretogeographicallyproximatecustomers.Examples:Shoecobblers,farmers,andtailorsallreliedondirectrelationshipswithcustomers;tradersonthesilkroutereliedonrelationaltrustwithothertraderstoexchangegoods.Massproductionprovideseconomiesofscale.Moregeographicallydispersedcustomers.Emergenceofmiddlemen.Largesupplycreatestheneedforaggressivesalespromotions.Examples:OriginalbrandsbuiltonstrongfamilynamessuchasFerrari,J.C.Penney,andGillettetosignalqualityanddifferentiatethemselvesfromcompetitors.Shiftfromtangibletodigitalandknowledgeproducts.Fasttechnologicalchangeandturbulence.Examples:AppleandGooglewhobothfocusontechnologicalinnovationandhavesurpassedCoca-Colaasthemostvaluablebrands.Disintermediationremovesthemiddlemanbetweenproducerandconsumer.Economyshiftfromafocusonproductstoservices.Examples:IBMshiftedtosellingbusinesssolutionsratherthanequipment;financialservicefirmssuchasHSBCandWellsFargocontinuetogrow.InterpersonalrelationshipsarethegreatestbarriertocompetitiveattacksBrandsareimportanttosignalproductqualityOfferingsandinnovationsbecomekeysourcesofdifferentiationAllthreeBORstrategiesarecriticaltosuccess,butrelationshipsarebecomingmoreimportantwiththeshifttoaserviceeconomyinmoredevelopedcountries(85%ofU.S.GNP)14EvolutionofSustainableCompetitiveAdvantageinMarketingPre-IndustrialAge–interpersonalrelationshipswerethegreatestbarriertocompetitiveattacksIndustrialRevolution–brandsareimportanttosignalproductqualityTechnologyRevolution–offeringsandinnovationsbecomekeysourcesofdifferentiationServicesRevolution–allthreeBORstrategiesarecriticaltosuccess,butrelationshipsarebecomingmoreimportantwiththeshifttoaserviceeconomyinmoredevelopedcountriesSomeresearchersarguethatdevelopedcountiesareundergoingthenextSCArevolution,duetothewidershifttoaserviceeconomyDespitetheshiftingemphasesonthedifferentsourcesofSCA,allthreesources(brands,offerings,andrelationships)buildononeanotherandoftencombinesynergisticallytodetermineafirm’soverallSCA?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.15CustomerEquityPerspectiveCustomerequity

forafirmrefersto“thetotalofthediscountedlifetimevaluesofallitscustomers”Whenafirmadvertisestobuildstrongbrands,makesR&Dinvestmentstodevelopinnovativeproducts,orspendstohireandtrainsalespeoplewhocanenterintorelationshipswithclients,itshouldincreasethatfirm’sbrand,offering,andrelationalequitiesTogetherthesethreeBORequitiesconstitutethefirm’scustomerequityandoftenisthebestbarrier(SCA)tocompetitiveassault,sometimestermedaBOREquityStack?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.16“CustomerEquity”aDifferentMeasureofaFirm’sMostImportantAssetsPremise:Customersareconsideredafinancialasset,whichshouldbemeasured,managed,andmaximizedTreatcustomersjustlikeotherassetseventhoughaccountantstypicallydon’ttreat“customers”asanassetCustomerequityisnotcapturedonabalancesheet:spendingonbuildingequity(e.g.,brands,R&D,relationships)istreatedasanexpenseWhybotherwithcustomer-centricaccounting:Primarydriverofmanyfirms’salesandprofitsBrand,offering,andrelationalequitiesareaprimarysourceoffirm’sSCACaptureslong-termimpactofmarketingactions(Coke’sbrandequityreachespastoneyear)17?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.17BOREquityStackThreeequitiescombineinanadditivecustomerorBORequitystackRelationshipequityBrandequityOfferingequityAttheindividuallevel,customerequityisanalogoustothecustomer’slifetimevalue(CLV)Thenwheneachcustomer’sequityisaddedtogether,itgeneratesthefirm’soverallcustomerequityInthissense,thecustomerequityperspectiveiswellsuitedtousingaCLVanalysisapproach,becauseeachmarket-basedequitycanbeassessedasanadditiontothecustomer’sdiscountedcashflowovertimeThus,BORequitiesaresimilartotangibleassets:Theygenerateareturnonassets(ROA),canbebuiltthroughinvestments,anddepreciateovertimeifnotmaintained?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.18CustomerEquityPerspective:Brand,Offering,RelationshipEquityStack

?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.OfferingEquityHowmuchcustomerswouldpayforanunlabeledglassofbeer(e.g.,blindtastetest)BrandEquityThedifferencebetweenthepriceacustomerwouldpayforanunlabeledglassofbeerandthesamebeerafterlearningthebrandRelationshipEquityThedifferencebetweenthepriceacustomerwouldpayforaglassofabrandedbeerandhavingthesamebeerservedbyhisorherfavoritebartenderTotalvaluetocustomerCustomer/BOREquityStackBeerExampleRelationshipEquityAsetofrelationalassetsandliabilitieslinkedtoboundary-spanningemployeesandthesocialnetworkassociatedwiththeofferingorexperiencethataddtoorsubtractfromthevalueprovidedbyafirm’sofferingBrandEquityAsetofbrandassetsandliabilitieslinkedtoabrand,itsname,andsymbolsthataddtoorsubtractfromthevalueprovidedbyafirm’sofferingOfferingEquityThecorebenefitsrelativetocostsofanoffering,strippedofbrandsorrelationships19OfferingEquity(Beer)OfferingequityrepresentsthecorebenefitsrelativetocostsofanofferingstrippedofanybenefitsfrombrandsorrelationshipsPriceandperformanceonlyRepresentsalargeportionoftotalequityforcommodityproducts(e.g.,EDLPstrategies)DoesWal-Marthavemuchbrandorrelationshipequity?Lessimportantfor:ServicesorhighinvolvementproductsProductsthatprovidemeaningorstatusMaturingmarkets/industries20?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.20BrandEquity(Beername/label/image)Brandequity

isasetofbrandassetsandliabilitieslinkedtoabrand,itsname,andsymbol,thataddtoorsubtractfromthevalueprovidedbyafirm’sofferingKnowledgeofthebranddifferentiallyaffectsbehaviorBrandequity“l(fā)iesinthemindsofthecustomer”Keyforconsumergoods,statusbasedofferings,andasconsumptionismorevisibleSincebrandbuildingcanbehardtotarget,brandequityisbetterforofferingswithlargehomogenoususergroupHardtoquicklyadaptorchangebrandequityKeller(2008)21?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.21RelationshipEquity(peopleservingbeerandothercustomers)Relationshipequity

isasetofrelationalassetsandliabilitieslinkedtoboundaryspanningemployeesandthesocialnetworkassociatedwiththeofferingorexperiencethataddtoorsubtractfromthevalueprovidedbyafirm’sofferingRelationshipsaffectbehaviorRelational-baseddecisionmakingisingrainedinourpsyche(20to30%ofbrain)Manypsychologicalprocessesareengagedinrelationalorpseudo-relationalcontextsKeyforB2B,services,andcomplexsellingcyclesCantargetandadaptmoreeasilythanbrandsKeller(2008)22?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.22UsingExperimentstoDetermineCustomerEquityStrongtestofcausalitysince:RandomassignmentofcustomersControlofconditionsortreatmentsComparisontocontrolgroupsovertimeUsetotest“findings”fromothermethodSimpleprocessRandomlydividecustomersintogroups(2to3)Donothingtoonegroup(controlgroup)Doyourtest(conditions/treatments)toothergroup(s),butnothingelse(ideallycustomersandemployeesinvolveddon’tknowthedifference;“doubleblind”)Afterperiodoftimetestthedifferenceinoutcomesacrossgroupsandseeifitvariedsignificantly23?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.23MarketingExperimentsMarketingexperimentstesthowcustomersmightrespondtomarketingdecisions,whilerulingoutconfoundsthatotherwisewouldbepresentwhencomparingatreatmenttoacontrolgroup.DAT4.1DescriptionTodetermineifthereisadirectcausalrelationshipbetweenaspecificBOR(brand/offering/relational)investmentandcustomerorfirmoutcomes.TochooseamongasetofBORinvestmentstrategiesandtactics,accordingtotheirfinancialimpacts(e.g.,liftinsales).WhentoUseHowitWorks

24MarketingExperimentsDAT4.1ObjectiveWhentoUsExample

25Example:FindBestInternet“Ad”YouwanttogetpeopletobuysupplementalitemswhenbuyingonlineplaneticketsYouhaveexistingadYourbosswantstouseanewswimsuitadTake5minutesanddesignyourexperimentaltesttomakethedecisionDiscuss:SamplesourceandsizeResearchdesignAnalysisofdataAddressbiasconcerns:timeofyear,day,weather,otherprintadsrunning,other26?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.26ResultsofExperiment(UsingExcel)27?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.RandomlyassigncustomersAnalysisMeanMedianStd.dev.DifferenceingroupsT-testtodetermineifdifferenceinmeansissignificantExceldoesallofthis27NaturalExperiments(DataMining)Notasastrongtestofcausality,butoftenonlychoiceUsenaturalvariationorshocktobusinessExample:Competitorenteredthreemarketsandyoursalesforcehasrespondeddifferently(matchedprice,heldprice,gavefreeshipping).UsedifferencesineffectonsalestoseewhatisbeststrategyBut,whatifterritoriesarenotthesame(size,brandstrength,typesofproductssold)?Youcandothesametestwhile“controlling”fortheseothervariables(comparingmeansorregression)Strategiesmayworkbetterforsomecustomersthanothers(segmentandtest)28?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.28CustomerEquityPerspectiveOffersManyBenefitsButItIsHardtoDoCustomerequityperspectiveinvolvesbuildingandmaintainingaparallel“customer-centricaccountingprocess,”outsidethefirm’snormalfinancialaccountingprocessTherearethreemainargumentsforusingcustomerequityaccountingandaBORequitystackBORequitiesareoftentheprimarysourceofafirm’sSCATomakeoptimaldecisions,afirmneedsaframeworkthatmeasures,tracks,andreportscustomerequitiesEffectivecustomerequitysystemsrepresentaSCAintheirownrightSuboptimalmarketingdecisionshappeninfirmseveryday,atmanydifferentmanagementlevels,andespeciallyduringeconomicdownturnsManyfirms’primarySCAresultfromtheirBORinvestmentsandstrategies,butothersourcesofSCAareavailabletoo,includingdeepandlowcostfinancialresources,humanresourcestrategies,andoperationalprocessesTheseaspectsfalloutsideofthescopeofamarketingstrategy,sotheframeworkwepresentinthenextsectionfocusesinsteadonimplementingacustomerequityperspectiveusingaBORequitystack?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.29AgendaIntroductionApproachesforManagingSustainableCompetitiveAdvantageEvolutionofSustainableCompetitiveAdvantageinMarketingCustomerEquityPerspectiveCustomerExperimentsFrameworkforManagingCompetitiveAdvantageInputstotheSustainableCompetitiveAdvantageFrameworkOutputsoftheSustainableCompetitiveAdvantageFrameworkProcessforManagingSustainableCompetitiveAdvantageTakeawaysCase?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.30FrameworkforManagingSustainableCompetitiveAdvantageTheorganizingframeworkformanagingsustainablecompetitiveadvantages(SCA)integratestheprecedingapproachesandanalysesThreekeyinputs:PositioningstatementsAERstrategiesFuturetrendsTwooutputs:SCAsBORstrategies?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.31MarketingPrinciple#3:AllCompetitorsReactManagingSustainableCompetitiveAdvantage

?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.ManagingSustainableCompetitiveAdvantageApproaches&ProcessesSCABrand,offering,relationshipequitystackAERstrategyandBORequitygridsBrandandrelationshipmgt.InnovationprocessesAnalysesFieldexperimentsConjointanalysisMultivariateregressionChoicemodelsInputs(MP#1&MP#2)Outputs(SCA,BOR)PositioningStatementsTarget(externalcustomers)AER(internalpersonas)AERStrategiesWhatstrategiesworkbestforeachpersona/AERstageFutureTrendsTechnologytrendsRegulatorytrendsSocioeconomictrendsSCAsExistingSCAs,whyyouwinnowFutureSCAs,howyouwillwininfutureBORStrategiesBrandstrategiesOffering/innovationstrategiesRelationshipmarketingstrategies32InputstotheSustainableCompetitiveAdvantageFrameworkPositioningstatements–answersthreekeyquestions:WhocustomersareWhatsetofneedstheproductorservicefulfillsWhythisproduct/serviceisthebestoptiontosatisfycustomerneeds(relativetocompetition)AERstrategies–providekeyguidanceintohowafirmshouldinvesttoacquireandkeepcustomersFuturetrends–long-termtechnology,regulatory,andsocioeconomictrends,whichclearlycandisruptanyorganization’sSCAs?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.33Example:BrusselsAirlines(Belgium)BrusselsAirlines,Belgium’snationalcarrier,emphasizestheimportanceofadaptingitsmarketingmodelwiththechangingtechnologicaltrends“Wehaveallgottodigitallytransformtoprovidethetoolstoourgueststhatcanhelpthemgetthroughthewholeairtravelexperience.Weneedtoallowthemtobookonlineanddoeverythingtheyneedtodofromtheirmobiledevices.”-SimonLamkin,CIO?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.34OutputsoftheSustainableCompetitiveAdvantageFrameworkDescriptionsofthefirm’sSCAnowandinthefuture–needstoclearlyaddressthethreeconditionsforSCA:CustomerscareaboutitThefirmdoesitbetterthancompetitorsItishardtoduplicateorsubstituteDetailedBORstrategies–aggregateandreorganizeeachtargetedcustomersegmentandpersonaaccordingtoitsneeds;themosteffectivestrategiesacrosstime(accountingforcustomerdynamics)areinthebrand,offering,andrelationshipcategoriesBoththeseoutputs(SCAandBORstrategies)representaggregationsofinsightsgainedfrommorefine-grainedanalyses,combinedandreorganizedtosupporteffectivemacro-leveldecisionmaking?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.35ProcessforManagingSustainableCompetitiveAdvantageStep1:AERStrategyGrid–eachboxinthisgriddescribesthemosteffectivestrategyforauniquepersonaatasinglepointintimeStep2:KeyTrends–managersshouldaccountforkeyenvironmentaltrends(e.g.,long-termtechnologyorregulatorychanges)sothatinvestmentsinBORstrategiesleadtoSCA,nowandlaterStep3:BOREquityGrid–completedtodescribethreekeypiecesofinformationfortheBORstrategiesMarketingobjectivesRelativeadvantagesSourcesofsustainability?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.36NaturalSequenceforUsingBrands,Offerings,andRelationshipstoBuildanSCAAfirmshouldmakebranddecisions,whichareinfluencedbythefirm’soverallpositioningobjectivesfromMP#1andMP#2andlargelydeterminehowthefirmwillbepositionedintheoverallmarketplaceandinexistingcustomers’mindsThefirmcanthenfocusonitsofferingdecisions;productandserviceinnovationandR&DeffortsneedtosupportbothbrandstrategiesandthefirmspositioningobjectivesRelationshipstrategiesnormallyaredeterminedlast,becausetheyinvolvedthedeliveryandexperientialaspectbecauseinthiscase,boundaryspannersarecriticaltothecustomerexperienceandthefirm’soverallvalueproposition?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.37ConnectionsBetweenAERStrategyandBOREquityGrids

BOREquityGridBrandStrategy(Chapter5)OfferingStrategy(Chapter6)RelationshipStrategy(Chapter7)AERStrategyGridPersona#1Persona#2Persona#3ExpansionStrategyAcquisitionStrategyRetentionStrategyMosteffectiveexpansionstrategiesforPersona1MosteffectiveacquisitionstrategiesforPersona1MosteffectiveretentionstrategiesforPersona1MosteffectiveexpansionstrategiesforPersona2MosteffectiveacquisitionstrategiesforPersona2MosteffectiveretentionstrategiesforPersona2RelativeAdvantagesMarketingObjectivesSourcesofSustainabilityRelativeadvantagesofthefirm’sbrandvs.competitors’brandsBrandmarketingobjectivesBrand’ssourcesofsustainabilityRelativeadvantagesofthefirm’sofferingvs.competitors’offeringsOfferingandinnovationobjectivesOffering’ssourcesofsustainabilityRelativeadvantagesofthefirm’srelationshipsvs.competitors’relationshipsRelationshipmarketingobjectivesEnvironmentalTrendsTechnologytrendsSocioeconomictrendsRegulatorytrendsRelationshipmarketing’ssourcesofsustainabilityMosteffectiveacquisitionstrategiesforPersona3MosteffectiveexpansionstrategiesforPersona3MosteffectiveretentionstrategiesforPersona3AERstagesaccountforcustomerdynamicsPersonasaccountforcustomerheterogeneity?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.38AERStrategyGrid:Micro-AnalysisofCustomerHeterogeneityandDynamics

?Palmatier,2017,MarketingStrategy,Palgrave.ISBN:9781137526236.AERStrategyGridPersona#1Persona#2Persona#3ExpansionStrategyAcquisitionStrategyRetentionStrategyMosteffectiveexpansionstrategiesforPersona1MosteffectiveacquisitionstrategiesforPersona1Mosteffectivereten