Share these talks and lectures with your colleagues
Invite colleaguesWe noted you are experiencing viewing problems
-
Check with your IT department that JWPlatform, JWPlayer and Amazon AWS & CloudFront are not being blocked by your network. The relevant domains are *.jwplatform.com, *.jwpsrv.com, *.jwpcdn.com, jwpltx.com, jwpsrv.a.ssl.fastly.net, *.amazonaws.com and *.cloudfront.net. The relevant ports are 80 and 443.
-
Check the following talk links to see which ones work correctly:
Auto Mode
HTTP Progressive Download Send us your results from the above test links at access@hstalks.com and we will contact you with further advice on troubleshooting your viewing problems. -
No luck yet? More tips for troubleshooting viewing issues
-
Contact HST Support access@hstalks.com
-
Please review our troubleshooting guide for tips and advice on resolving your viewing problems.
-
For additional help, please don't hesitate to contact HST support access@hstalks.com
We hope you have enjoyed this limited-length demo
This is a limited length demo talk; you may
login or
review methods of
obtaining more access.
Printable Handouts
Navigable Slide Index
- Introduction
- Strategic marketing - outline
- The fundamental business model
- Six marketing imperatives (1)
- 1. Determine which markets to address (1)
- 1. Determine which markets to address (2)
- 1. Determine which markets to address (3)
- 1. Determine which markets to address (4)
- Six marketing imperatives (2)
- 2. Identifying target market segments (1)
- 2. Identifying target market segments (2)
- Six marketing imperatives (3)
- 3. Set strategic direction and positioning (1)
- 3. Set strategic direction and positioning (2)
- 3. Set strategic direction and positioning (3)
- 3. Set strategic direction and positioning (4)
- 3. Set strategic direction and positioning (5)
- 3. Set strategic direction and positioning (6)
- Six marketing imperatives (4)
- 4. Design the market offer (1)
- 4. Design the market offer (2)
- Implications for other functions
- Six marketing imperatives (5)
- 5. Secure support for other functions (1)
- 5. Secure support for other functions (2)
- 5. Secure support for other functions (3)
- Six marketing imperatives (6)
- 6. Monitor and control (1)
- 6. Monitor and control (2)
- Six marketing imperatives (7)
- Overview
This material is restricted to subscribers.
Topics Covered
- Business model
- Strategic marketing
- Marketing imperatives
- Addressing markets
- Retaining customers
- Market segments
- Performance objectives
- Strategic directions
- Positioning statement
- Value proposition
- Reason to believe
- Branding
- Market offer
Talk Citation
Capon, N. (2019, October 31). Strategic marketing: the six imperatives [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved November 7, 2024, from https://doi.org/10.69645/YEUC8083.Export Citation (RIS)
Publication History
A selection of talks on Marketing & Sales
Transcript
Please wait while the transcript is being prepared...
0:00
Hello, I'm Noel Capon.
I'm the R.C Kopf Professor of
International Marketing at Columbia University, in New York.
I'm also the Honorary Dean of MIC,
that's the Marketing Innovation College in Beijing, China.
You've probably guessed from my accent
that I am British, so I have a pretty deep European background.
0:20
So one training of what we're going to do today,
is to take a global perspective.
But secondly, I'd like to say is that,
for those of you who've taken a marketing course or did in marketing,
there's one concept that is probably very familiar to you and that's the marketing mix,
also known as the 4 P's.
They've been a mainstay of marketing since back
in the 1950s when they were first written about.
They're really only one part,
because I am taking a much broader strategic view.
As you see, the title of this session is strategic marketing.
I'm going to be talking about the six imperatives,
and the marketing mix is in fact inside one of those imperatives.
So that is the topic,
strategic marketing, the six imperatives.
Let's get into that by talking about,
what I call the fundamental business model.
1:13
So what you see on this slide is my sort of broad,
basic view of business.
That is that in most companies,
most of the time,
what operating managers are trying to do,
is to make current profits and get profits that will be in the future.
So that's current and potential profits.
If they in fact are successful in that goal,
the organization survives and grows and
shareholders get very happy. Shareholder value increases.
You can also look at this from the negative side.
If in fact, managers do not make profits today, or tomorrow,
or the year after,
then the firm goes out of business,
and certainly shareholders get very unhappy.
So this sort of fairly basic but really powerful relationship,
costs and profits to survive and growth,
and then the shareholder value.
So the question becomes,
what do we need in order to make profits.
That is, what we have to do is to attract,
retain, and grow customers.
That's for any business.
This doesn't matter what part of the world you're in.
It doesn't matter what industry you're in.
It doesn't matter whether you're an entrepreneurial start-up,
or a much more established company.
You have to attract, retain, and grow customers.
If you do that successfully,
all things being equal with respect to costs,
then those good things will happen to you.
Profits, survival and growth, and shareholder value.
In order to attract, retain,
and grow customers, what you must do as a company is deliver customer value.
So here we have a really fairly simple,
robust, and very powerful framework.
The firm's job then, deliver customer value.
If you're successful at that you will attract,
retain, and grow customers.
You will make profits,
the organization will survive and grow,
and shareholder value will increase.
Now that, I think most of us probably would agree with that,
there's just one problem with it,
and that is this one thing missing.
What's missing is competition.
What we can see from this diagram is,
that there are a set of competitors in a sense trying to do the same thing.
So the job of the firm is not just to deliver customer value,
it's got to do it better than the other guy.
It has to deliver, what we call, differential advantage.
If you do that you will attract,
retain and grow customers.
If competitors do a better job in terms of their value creation delivery,
they will secure the customers and you'll go out of business.
So very clearly then,
the job is to attract, retain,
and grow customers by delivering customer value.