Gurus On Marketing

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Porter’s Generic Competitive Strategies Michael Porter, strategy guru, presented his generic strategies for businesses to consider relating to winning and sustaining competitive advantage. These strategies are cost leadership (the firm sets out to become the low cost producer in its sector), differentiation (where a firm seeks to be unique in its sector) and focus (focusing on specific segments). This is explained in some detail in chapter four. Boston Consulting Group – Product Portfolio Matrix This matrix has been devised by a consulting firm rather than an individual guru. This matrix is used in product portfolio planning, and many marketing gurus and writers including Philip Kotler refer to it in their writings. The focus of the matrix is on market growth and relative market share. Each strategic business unit has to determine its annual growth rate in the market. This rate could be either ‘high’ (say 10 per cent) or ‘low’ (say 2 per cent). Each business unit has to determine its relative market share. This could be ‘high’ market share or ‘low’ market share. The strategic business units are then positioned in the matrix according to the information provided. These strategic business units are then classified as ‘cash cows’ or ‘dogs’ or ‘problem children’ or ‘stars’. 136 GURUS ON MARKETING
Low growth/high share The strategic business unit under this category would be a ‘cash cow’. Such products generate more revenue than they use and surplus revenue can be used to finance other products or other strategic business units. Low growth/low share The strategic business unit under this category is classified as a ‘dog’. These are products with a low share of a low growth market. The products or strategic business units tend to be loss-makers. High growth/low share The strategic business unit under this classification is referred as a ‘problem child’ because they consume lots of resources but generate low return. They are products with possible long term potential. High growth/high share The strategic business unit under this position is classified as a ‘star’ because they generate good income in the face of competition and they need to be maintained as they have potential of becoming future cash cows. This matrix is over-simplified and does not consider other factors impacting on strategic business units and products. There is also a debate as to what constitutes high or low market growth rate or relative market share. TEN GURUS AND STRATEGIC ANALYTICAL TOOLS 137
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gurus on Marketing Sultan Kermally
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GURUS ON MARKETING SULTAN KERMALLY
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Dedication This book is dedicated t
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Acknowledgements This book would no
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About the author Sultan Kermally is
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Contents Introduction 1 The relatio
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SIX Tom Peters 89 Close to the cust
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Introduction Gurus are management t
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This book considers the following g
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Michael Porter Michael Porter is th
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Philip Kotler Philip Kotler is the
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Plan of the book The book begins by
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ONE The fundamentals of marketing T
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Kotler 3 then advocated the importa
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Characteristics of service They are
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• Consider the promotion budget.
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For example, if an organisation is
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Brand extension Brand extension is
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Marketing strategy Marketing strate
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According to Warren J. Keegan 11 :
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L M N O P Q R S T U V Listen to you
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TWO Peter Drucker Peter Drucker is
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The thinking was heavily influenced
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Where does Peter Drucker come in? S
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The customer as the decision-maker
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What do marketing gurus and writers
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Writers on marketing since Drucker
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Some organisations now use very sop
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THREE Theodore Levitt On marketing
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He put forward four conditions whic
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Marketing Myopia was a landmark art
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Decline After the maturity stage wh
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Nariman Dhalla and Sonia Yuspeh in
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Technological advances have resulte
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This was Professor Levitt’s semin
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FOUR Michael Porter Michael Porter
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4 the bargaining power of buyers, 5
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‘A market signal is any action by
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Criticisms of Porter’s Five Force
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in the buyer’s value chain, which
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A differentiation strategy This str
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Factors which are likely to make a
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Porter’s key publications • ‘
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FIVE Philip Kotler Kotler on market
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Marketing therefore is a process of
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and there is no further contact. Th
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The marketing plan should pay parti
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Micro perspective Kotler then moves
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Team-oriented approach seems to be
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Page 117 and 118: Peter’s key publications • Pete
Page 119 and 120: SEVEN George Day George day is Geof
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Page 133 and 134: EIGHT Jagdish Sheth Dr. Jagdish She
Page 135 and 136: Various studies reinforce the point
Page 137 and 138: • To create value for clients the
Page 139 and 140: At the feet of Jagdish Sheth: Lesso
Page 141 and 142: NINE Thomas T. Nagle Nagle on prici
Page 143 and 144: • Understanding price sensitivity
Page 145 and 146: At the feet of Thomas Nagle: Lesson
Page 147 and 148: TEN Gurus and strategic analytical
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Page 165 and 166: ELEVEN Further information Suggeste
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Page 175 and 176: Other titles The John Adair handboo
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