Strategic Marketing Management - Aaker

TENTH

EDITION

STRATEGIC

MARKET

MANAGEMENT

David A. Aaker Vice-Chairman, Prophet Professor Emeritus, University of California, Berkeley

WILEY

CONTENTS

Strategie Market Management—An Introduction and Overview What Is a Business Strategy? A Business Strategy Strategie Market Management Marketing and Its Role in Strategy

I 3 4 9 13

STRATEGIC ANALYSIS

_17

External and Customer Analysis External Analysis The Scope of Customer Analysis Segmentation Customer Motivations Unmet Needs

19 19 23 24 28 31

Competitor Analysis Identifying Competitors—Customer-Based Approaches Identifying Competitors—Strategie Croups Potential Competitors Competitor Analysis—Understanding Competitors Competitor Strengths and Weaknesses The Competitive Strength Grid Obtaining Information on Competitors

37 38 40 42 42 47 50 53

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

55 55 57 58 59 61 64 65 65 66 67

Environmental Analysis and Strategie Uncertainty Technology Trends Consumer Trends Government/Economic Trends Dealingwith Strategie Uncertainty Impact Analysis—Assessing the Impact of Strategie Uncertainties Scenario Analysis

72 74 77 81 85 85 87 vii

viii

Contents

Chapter 6

Internal Analysis Financial Performance and Profitability Performance Measurement Beyond Profitability Strengths and Weaknesses Threats and Opportunities From Analysis to Strategy

91 92 94 99 99 101

Case Challenges for Part I Trends in Retailing The Energy Bar Industry Transformational Innovation« Environmental Trends That Matter

103 103 105 108 110

PART TWO CREATING,ADAPTING, AND IMPLEMENTING STRATEGY Chapter 7

111

Creating Advantage: Synergy and Commitment vs. Opportunism vs. Adaptability The Sustainable Competitive Advantage The Role of Synergy Strategic Commitment, Opportunism, and Adaptability

113 114 118 121

Chapter 8

Alternative Value Propositions Business Strategy Challenges Alternative Value Propositions Superior Quality Value

130 131 132 138 143

Chapter 9

Building and Managing Brand Equity Brand Awareness Brand Loyalty Brand Associations Brand Identity

150 151 152 153 159

Chapter 10

Toward a Strong Brand Relationship Understanding and Prioritizing Brand Touchpoints Focusing on the Customer's Sweet Spot How to Create or Find a Customer Sweet Spot Get Beyond Functional Benefits Broadening the Concept of a Brand

106 166 170 172 173 175

Chapter 11

Energizing the Business Innovating the Offering Energizing the Brand and Marketing Increasing the Usage of Existing Customers

181 182 186 194

Chapter 12

Leveraging the Business Which Assets and Competencies Can Be Leveraged? Brand Extensions Expanding the Scope of the Offering New Markets

199 200 201 205 206

Contents

ix

Evaluating Business Leveraging Options The Mirage of Synergy

207 209

Chapter 13

Creating New Businesses Create "Must Haves," Rendering Competitors Irrelevant The Innovators Advantage M anaging Category Perceptions Creating New Business Arenas From Ideas to Market

213 214 217 219 220 225

Chapter 14

Global Strategies Motivations Underlying Global Strategies Standardization vs. Customization Expanding the Global Footprint Strategie Alliances Global Marketing Management

230 231 235 239 241 244

Chapter 15

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

247 248 250 253 256

From Silos to Synergy—Harnessing the Organization Silo-Driven Problems—The Gase of Marketing Addressing the Silo Marketing Issues—Challenges and Solutions Organizational Levers and Their Link to Strategy Structure Systems People Culture A Recap of Strategie Market Management

263 264 266 267 268 270 272 275 278

Case Challenges for Part II Hobart Corporation Dove Competing Against Wal-Mart Wegmans Costco Contemporary Art Sonyvs. iPod

282 282 284 287 290 291 292 294

Appendix: Flanning Forms

296

Index

311

Chapter 16