Policies and marketing strategies

TOPIC 1
WHAT IS MARKETING?

The discipline* of study focused on researching a market*, offering value and satisfying the
customer with a profit objective. This analyses the behaviour of markets and the needs of consumers.
It considers business management with the purpose of attracting, capturing, retaining and building
customer loyalty* by satisfying their desires and solving their problems.”.

*Discipline: A set of rules or norms whose constant compliance leads to a certain result.

*Research market: Market research is the tool used to collect data directly from the source to learn
about consumer behaviours, brand or company perception and opportunities for a new product or
innovation.

*Customer loyalty: It is the relationship of trust that people have with a company after several
positive interactions. Customers who are loyal to brands tend to be more likely to make repeat
purchases and to defend the brand over others.

This discipline is not just about selling and advertising. Every day we are attacked with television
commercials, catalogues, sales calls and product offers via email. However, sales and advertising are
only the tip of the marketing iceberg. Today, marketing must be understood not in the archaic sense of
making a sale (“talk and sell”), but in the modern sense of satisfying customer needs. If the marketer
understands the consumer's needs well; whether he develops products that deliver superior customer
value; and if he sets his prices, distributes and promotes effectively, his products will sell very easily.

In fact, management theorist Peter Drucker states that “the goal of marketing is to make sales
unnecessary.”

The object of the study of the social sciences is man, which is why its essence as a science is often the
subject of discussion with respect to other disciplines and fields of study.

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● Educational science: study educational practices

● Humanities: related to human culture

● Sociology: studies man and his relations as a human society

● Anthropology: studies the reality of the human in an integral way, their physical particularities
and their culture, not only the biological part.

● Political science: the theory and practice of the interactions of power between men and
societies as well as systems and behaviours.

● Economics: study the management of scarce resources for the satisfaction of human needs
and desires.

● History: studies the events that occurred in the past usually of humanity.

● Linguistics: science that studies the origin, evolution and structure of language, in order to
deduce the laws governing both ancient and modern languages.

● Archaeology: science that studies social changes over time by means of material remains
scattered in geography and preserved over time.

All this complement management science and marketing, and then it is possible to promote things and
even societies with special and unique features.

Subliminal advertising and semiotics...

Semiotics is a discipline focused on understanding how meaning processes are articulated, which
leads to two fields of knowledge, linguistics and the theory of knowledge. In other words, semiotics
specialises in the study of signs and their effects on people's thinking. In this way, semiotics are
fundamental in the construction of brand identity. Thus, signs and symbols can be associated with a
brand, such as its logo, slogan or visual design; all of this to create meanings and representations that
influence how consumers perceive and relate to that brand.

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Is Marketing born as a scientific discipline?

Marketing is a discipline with a historical and scientific foundation linked to the economic
development of mankind. In the 18th and 19th century, companies were focused on manufacturing
products or (creating many products to be able to sell them), since they thought about generating
quantities and then looking for a place to sell them. At the end of the 19th century, several events led
to the birth of marketing. The saturation of the market made products begin to differentiate
themselves, so each company and its brands had to show unique characteristics to attract consumers.
The crisis of 1929 led to the development of market research and highlighted the fragility of the
methods used up to that time, so that year can be considered the end of production- and
distribution-oriented marketing and the birth of sales-oriented marketing.

The Marketing evolution...

In the following decades after the Second World War, "relationship marketing" emerged, focused on
services and industry, aimed at maintaining the best relationships with suppliers and especially with
customers.
In the 1980s "strategic marketing" was introduced with the main objective of detecting the needs of
customers for new products that meet their needs. The 1990s are characterised by "Marketing for
Customers" where companies seek to satisfy the customer even after sales.

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THE MARKETPLACE AND CUSTOMER NEEDS

What exactly are customer needs?

A customer need refers to what motivates a person to buy a product (goods and services). It is not so
difficult to understand customer needs; these are factors that influence the customer's purchasing
decision process. According to Maslow, needs are common to all people at the time of acquiring a
good or service, and consist of physiological needs, security, belonging, esteem and self-fulfilment, as
well as spirituality.

Difference between needs and wants

Needs: It is a human impulse or motivation aimed at satisfying a need of variable nature such as food,
water, shelter, protection, affection, security, etc. Thus, needs are states of perceived lack in some area
of life.

Wants: When marketing talks about desire, it refers to the consequence of an emotion generated. In
other words, different incentives can create a new need that is not real, but our brain assumes it as
such. Thanks to desires, many brands have increased the value of simple products or services in order
to offer them to the public at a higher price.

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*mirar diapo 21 esquema!!

Managing the customer’s needs and the customer’s desires

In order to manage the satisfaction of actual and potential customers, it is necessary to answer the
following two questions:

1. Who are the consumers we will serve?

Good marketing companies know that they would not be able to serve all customers all the time but
must focus their resources on the customers they can serve best and most profitably. This is defined as
market segmentation and targeting.

2. How will we better serve our target customers?

Marketers establish a value proposition that sets out in detail the values the company will deliver to
win target customers. This is known as differentiation and positioning.

Strategies: segmentations and differentiation & positioning

● Market segmentation consists of segmenting the target market into smaller groups that share
similar characteristics, such as age, income, personality traits, behavior, interests, needs or
location.

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● Differentiation is a marketing strategy that seeks to highlight that or those characteristics of

the product that allow it to distinguish itself as unique and different in the market.

CUSTOMER VALUE-DRIVEN MARKETING STRATEGY

What is a Driven Marketing Strategy?

Most companies are in a position to serve some segments better than others. Therefore, each company
should divide the total market. This is done by choosing the most promising segments and designing
strategies to profitably serve the selected segments. Then, this process includes market segmentation,
target market, differentiation and positioning. In other words, a customer-driven marketing strategy is
a set of marketing actions implemented by a company that aims to satisfy customer expectations and
needs. This type of strategy must contain guidelines and goals that the company wants to achieve.

What is Customer Value (CV) and how important is it?

Customer value is an estimated metric that considers the total revenue that the customer brings to your
business over the life of the company. It is a relevant statistic and is used when making decisions
about sales, marketing, product development and customer support.

Customer value can be used mainly to:

1. Knowing how much money to invest in getting new customers and keeping the ones you have.
2. Calculate the benefits of decreasing loss levels.
3. Classify customers and target them according to the value of what they bring to the table.

How to calculate customer value (CV)?

*ejemplo numérico diapo 27!!

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The Driven Marketing Strategy is also related to Internationalisation...

From marketing, companies also plan the way in which they internationalise in other markets. Hence,
each firm must identify the most convenient "entry mode" according to its strategy and obviously to
its capabilities. Then, the entry mode can be understood as... "the way in which a company organises
its activities in international markets." The simplest entry mode is "exporting" and the enterprise can
also reach another stage until reaching the most complex just like happens with “Foreign Direct
Investment".

The Driven Marketing Strategy based on “Exportation” as entry mode...

Legal document that delimits the responsibilities of the parties (Exporter and Importer) who, despite
their different legal systems, carry out a transaction in an agreement of wills. Thus, the seller
undertakes to deliver merchandise with certain characteristics at a specific time and place; while the
one who buys agrees to pay a certain amount of money at a certain time and under certain specific
conditions.

Aspects determined by the contract:

● The method of payment and the price of the merchandise

● The transfer of ownership of the merchandise
● The consequences of breach of contract
● The legal system applicable in the event of litigation and/or commercial controversy.
● The means of dispute resolution such as commercial arbitration.

The driven marketing strategy and final prices in exportations…

DRIVEN MARKETING STRATEGY AND INCOTERMS FOR ESTABLISH

RESPONSIBILITIES IN INTERNATIONAL SALES…

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Driven marketing strategy and incoterms 2020:

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CUSTOMER RELATIONSHIPS

Why have a good relationship with the customer?

Customer relationship is a marketing concept used to express the connection between the company
and its customers, encompassing all the interactions that occur between them, even including the
exchanges with the support team.

As in any relationship, maintaining it depends on constant dialogue, knowledge of the target audience,
personalization and reciprocity. For this, it is essential that there is a strong base in Customer
Relationship Management (CRM) strategies. Nowadays, enterprises use software that collects and
collects information from current and potential customers; then, CRM is also a methodology to
nurture the relationship with the customer.

From the information built through the CRM, areas such as marketing, sales and customer service can
personalise communication with customers and draw up strategies to better relate to each one of them.
This is why strategy (and software) is remarkable to improve the relationship with the customer.

Advantages of a good customer relationship based on CRM?

1. Increased consumer confidence

You have an advantage over your competitors because the customer already trusts your company. You
gain their trust when you remember everything you discussed with them, do not forget important dates
of the negotiation and are present at the decisive moments. All this refers to Service-Level Objective
(SLO), which makes the difference.

2. Loyalty and increased purchases

If your customer was satisfied throughout the purchase process and continued to receive quality
support. The tendency is for them to become loyal; that is, they will maintain their preference for your
company and will recommend your products to others. This will increase the value of your company,
which positively impacts total sales.

3. Problem resolution

In Marketing it is key to have a relationship with your customer and always be in touch. Therefore,
companies must identify potential problems before they cause damage to either party. This is a
proactive service that all your staff should have, from the help desk personnel to the Customer Service
Team (CST).

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A simple example: the initiative of marketing generated by consumers

Several companies are inviting customers to take a more active role in the creation of ads. For
example, PepsiCo, Southwest Airlines, MasterCard, Unilever, H.J. Heinz and many other companies
have organised consumer-created commercial contests that have aired on national television.

For the past several years, PepsiCo's Doritos brand has run the "Get to the Super Bowl" contest, in
which it receives 30-second ads from consumers and airs the best ones during the game. The ads have
been enormously successful.

Last year, customers submitted nearly 4,000 commercials. Some of these reached second place in
USA Today's audience rating, for which PepsiCo presented the creator with a $600,000 cash prize.

THE CHANGING MARKETING LANDSCAPE

Then, what is marketing in a simple explanation?

Considering all previous ideas, it is possible to affirm that marketing is the process of building
profitable customer relationships by creating value for customers and capturing value in reciprocity.

Is the marketing landscape changing?

For some marketing theorists, this discipline must adapt to the very dynamics of societies. In fact,
"(...) The pace of change is so fast that the ability to change has become a competitive advantage". In
other words, as the market changes, those who serve it must change.

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There are four major forces and trends that are transforming the marketing landscape and
challenging marketing strategy:

1. The changing economic environment

The Great Recession in 2009 caused many consumers to reevaluate their spending priorities and
reduce their purchases. After two decades of overspending, consumers tightened their belts and
changed their attitudes and buying habits.

More than just a temporary change, the new values and new values and consumption patterns are
likely to remain for many years to come.

Even as the economy strengthens, consumers will continue to spend more carefully and wisely.

* 1. We have fewer children, if we have any.

2. We have accumulated much less wealth than previous generations. 3. We hate the stock market.
4. We do not buy homes.
5. We don't trust anyone.

2. The digital age

The explosive growth in digital technology has fundamentally changed the way societies work.

Hence these tools have changed how societies communicate, how information is shared, how people
learn, how they shop, and how they access entertainment.

Therefore, there are new ways for companies to deliver value to their customers. Thus, for better or
worse, technology has become an indispensable part of people's lives.

*Nearly 90% of the world's population admitted to having purchased online in 2020

3. The growth of non-profit marketing

In recent years, marketing has also become an important part of the strategies of many nonprofit
organisations.

Some of them are non-governmental organisations (NGOs) besides universities, hospitals, museums,
zoos, symphony orchestras and even churches.

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Nonprofits face stiff competition for support and memberships. Sensible marketing can help them
attract memberships, funding and support.

*The ad has attracted more than 200,000 new donors and has raised nearly $30 million for the
ASPCA since 2007.

4. The rapid globalisation

Today, almost any company, large or small, is affected in some way by global competition. A new
Internet retailer receives orders from all over the world, at the same time that a US producer of
consumer goods launches new products in foreign markets.

Even American companies have been challenged locally by the clever marketing of European and
Asian multinational companies. Companies like Toyota, Nokia, Nestlé, Sony and Samsung often
outperform their American competitors in their own markets. Similarly, US companies from various
industries have developed truly global operations, manufacturing and selling their products throughout
the world.

*McDonald's, the most representative American company, now serves more than 600 million
customers in 100 countries (65% of its corporate profits come from abroad).

Nike sells in more than 180 countries (66% of its sales are made outside the United States)

5. The call for greater social responsibility

Corporate ethics and social responsibility (including sustainable marketing) have become hot topics in
almost every business. Currently, few companies could ignore the renewed and very demanding
environmental movement. Every company action can affect customer relationships. Today's
consumers expect companies to deliver value in a socially and environmentally responsible way.

Thus, the environmental and social responsibility movements will make even stricter demands on
companies. Some companies are reluctant to give in to these movements and do so only when forced
by laws or organised consumer protests.

However, companies that look to the future already accept their responsibilities to the world around
them; they view socially responsible acts as an opportunity to succeed. In this way, companies look
for ways to benefit by serving the immediate needs and long-term best interests of their customers and
their communities.

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TOPIC 2

− Strategic Planning: The Role of Marketing

What is strategic planning?

Each company must find the most appropriate game plan to survive and grow in the long term,
considering its specific situation, its opportunities, its objectives and its resources. This is the
approach of strategic planning. In other words, the strategic plan is the process of developing and
maintaining a logic between the goals and capabilities of the organisation, in addition to adaptation
according to changing opportunities in the environment.

Strategic planning is the basis for knowing where the company is going. Companies usually prepare
annual, long-range and strategic plans. Annual and long-range plans concern the current business of
any type of company.

Thus, the strategic plan involves adapting the company to obtain advantages from the opportunities in
its changing environment in what is also known as resilience capacity.

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Minimum elements of strategic plan:

A company vision is the lighthouse of your organisation that guides the path you will take in the
future. This is a statement in which the company defines the path it will follow to achieve the
company's mission. A company vision provides clarity and answers the “why” and “how” of a
company's mission, so you can fulfil your company's overall purpose.

The mission of a company is the purpose of the company, its reason for existing. Why does your
company do what it does? What problems does your company want to solve? What is your
competitive advantage? What target audience are you targeting? Mission statements are often
difficult, if not impossible, to fulfil. But that's why they are so inspiring.

They are the purposes or goals developed at a strategic level and that the
organisation intends to achieve in a specific period. It could be said that
objectives are what determine what is important in your organisational
strategy. Therefore, they are the compass to direct a company’s activities
towards the fulfilment of its purposes.

It is a roadmap that can help achieve the goals and objectives of a company. It is an administrative
tool that establishes the path to achieve the goals of a business. This marks the route with exhaustive
planning through a list of activities with times and those responsible. In addition, it marks the progress
in each component.

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Tactics are the specific activities or actions that an organisation

performs to meet its strategic objectives. These actions can be one or
several tasks in the short and long term. Likewise, tactics are actions
that are specific and have a defined goal within the strategic plan.

Market oriented business…

It is important to highlight that companies' market strategy can be aligned in two ways. On the one
hand, the strategy focuses on the products that are developed and on the other hand, on the markets
and their specific characteristics.

**ejemplos diapo 6 + analysis of market strategy of inditex

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What strategies can be implemented to extend the product life cycle (PLC)?

1. Product development begins when the company finds and develops the idea for a new
product. During product development, sales are zero while the company’s “investment costs”
increase.

2. Introduction is a period of slow “sales growth” as the product is brought to market. Profits
are zero in this phase because of the large expenses of introducing the product.

3. Growth is a period of rapid “market acceptance” and increased profits.

4. Maturity is a period where the “sales growth” decreases, because the product has already
gained acceptance from mostly potential buyers. The level of profits stagnates or even
decreases due to increasing marketing expenses to defend the product against the
competition.

5. Decline is the period in which both sales and profits decrease.

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Socioeconomic variables of analysis with an extinct product...

Some adopted unfair and questioned practices in the strategic planning...

1. Dumping: Unfair competition refers to the practice of selling below the normal price or
at prices below cost to eliminate competition and take over the market.

2. Shrinkflation: is the process in which goods are reduced in size or quantity, while their
prices remain the same or increase.

3. Misleading advertising: Type of advertisement which is different from the claims of

the brand's performance. This makes misleading, exaggerated or false statements about the
advertised product, so that it is more attractive to consumers or that a competitor is harmed.

4. Collusion: It is to celebrate or execute an agreement that involves two or more

competitors among themselves, to set prices for the sale or purchase of products in one or
more markets; limit its production or supply; divide, assign or distribute areas or market
shares to affect a third party.

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− Designing the Business Portfolio

What is a Business Portfolio ?

Set of businesses and products that the company develops to sell to a given market.

This is subject to the mission statement as well as the company's objectives. Thus, management must
plan the set of businesses and products that the company intends to continue selling in the market. The
best business portfolio is one that matches the organisation's strengths and weaknesses against the
opportunities in the environment.

Therefore, within business planning, the business portfolio follows two steps.

First, the company must analyse its current business portfolio and decide which businesses should
receive more, less or no investment.

Second, it has to shape the future portfolio by developing growth and readjustment strategies
according to the environment.

What is the Boston Consulting Group (BCG) matrix?

The company evaluates the attractiveness of its

different SBUs and decides how much support each
would deserve. In designing a portfolio of
businesses, it is best to add and support products
and businesses that closely match the company's
and businesses that closely match the company's
philosophy and core capabilities.

The purpose of strategic planning is to find ways

for the company to better utilise its strengths to
take advantage of attractive opportunities in the
environment. Thus, most standard methods of
portfolio analysis evaluate SBUs on two important dimensions:

​ (a) The attractiveness of the SBU's market or industry.

​ (b) The strength of the SBU's position in that market or industry.

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BCG matrix with real examples...

Before analysing this matrix with some specific products, it is essential to consider some key aspects
to keep in mind...

● While the Matrix is very useful and valued in marketing. Market share information is not
always accessible, nor is market growth.
● High market share does not always mean high profitability for any type of company or
business.
● The BCG matrix does not take profitability into account; therefore, it is necessary to
supplement its use with other tools.

Strategic planning steps suitable to Business Portfolio...

The company must begin the strategic planning process by defining its general purpose and mission.
This mission in turn is transformed into the detailed supporting objectives that will guide the entire
company.

Therefore, top management decides which portfolio of businesses and products is best for the
company and how much support each will receive.

Likewise, each business and product will develop detailed marketing and other department plans that
support the company-wide plan. Thus, marketing planning occurs at the business unit, product, and

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market levels, and supports the company's strategic planning with more detailed plans for specific
opportunities.

The product/market expansion matrix: The Under Armour's case

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− Marketing Strategy and the Marketing Mix

Strategy and marketing mix...

The strategic plan defines the mission and general objectives of the company. Then, the marketing
role seeks to manage activities involved in satisfying the customer from what is called the marketing
mix. Therefore, marketing strategy is how the company hopes to create customer value and achieve
profitable customer relationships.

Similarly, companies decide about customers:

1 Where these will be served

2 How these will be served

3 What these will be served

4 Why these will be served

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TOPIC 3

− The Microenvironment and Macroenvironment

Knowledge of the environment surrounding the company

is a fundamental part of its operation and growth over
time. In any case, the environment is complex and is
constantly subject to challenges, which results in risks
and opportunities for companies.

Thus, companies can adopt different positions in the face

of these challenges.

On the one hand, they can adopt a passive position and

therefore have a high chance of being swept away by
these changes. On the other hand, they can adopt an
active position in the face of the new situation,
assimilating the changes in their production system.

In other words, all these items are linked

and all of them are essential for ensuring
the competitiveness of organisations.

For a company, competitiveness is the

ability to be able to supply a product (good
or service) of a certain quality at a lower
price than competitors.

If a company supplies the goods at the

same price as the competition, but
generates greater consumer satisfaction, this indicates that the company is more competitive also.

In any case it is relevant to the government ́s role for ensuring this remarkable issue for any single
organisation.

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− The Demographic and Economic Environments

¡Understanding who's who in the workplace!

Demography is the study of human populations in terms of their size, density, location, age, gender,
race, occupation, and other statistics.

The demographic environment is of primary interest to marketing because it involves people, and
people make up markets. The world's population is growing at an explosive rate. Today it exceeds
7,888 million people and is expected to reach more than 8 billion by 2030. The huge and diverse
population presents both opportunities and challenges. Changes in the global demographic
environment have important implications for business.

*generations diapo 5 + some facts about the new economic environment, unusual scenarios to analyze in driven
marketing strategy and diapo 8

b) Unusual scenarios to analyze in driven marketing strategy

Why does this new pattern in the food industry arise and how to manage it from marketing?

Customer-driven marketing strategy means directing the marketing efforts to meet the needs of a
specific group of customers. When this is adopted properly, customer-driven marketing can help
companies build customer loyalty and increase sales revenues.

Share your possible explanations... Why are more and more companies becoming
animal-friendly?

● Ethics and morals (is it good or not?)

● Law (is it legal or not?)
● Appearance (is it positive for companies' image or not?)
● Sustainability (is it good for the environment or not?)
● Adaptation (is it necessary nowadays or not?)

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− The Natural and Technological Environments

Natural and Technological Environments

“Natural resources are related with everything companies need, in their marketing activities, as inputs
or that are affected by marketing activities. In this way, companies develop new technologies and
strategies that sustain the environment and at the same time generate profits for their business
portfolios”.

Environmental concerns have increased steadily over the past three decades. In many cities around the
world, water and air pollution has reached dangerous levels. The world's concern about global
warming continues to rise, and many environmentalists fear that we will soon be buried in our own
garbage.

− The Legal-Political Environment

Political environment

“Laws, government agencies and pressure groups that influence and limit various organisations and
individuals in a given society”.

Even free market economies usually operate with at least some regulations. Well-designed regulation
can encourage competition and ensure fair markets for goods and services. Thus, governments
develop public policies to guide trade, sets of laws and regulations that limit business for the good of
society in general.

− The Social and Cultural Environments

“People in a given society have many beliefs and values.

Your core beliefs and values have a high degree of
persistence”.

The cultural environment consists of the institutions and

other forces that affect a society's basic values, perceptions,
preferences, and behaviors. People grow up in a certain
society that forms their basic beliefs and values. They
absorb a vision of the world that defines their relationship
with others.

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− Study Approaches: PESTEL Analysis / Porter's five forces analysis / FODA-SWOT

analysis / Business Model Canvas

PESTEL Analysis (a)

PESTLE analysis is a tool used to identify external forces at a macro level that influence a business
and can determine its evolution.

The acronym PESTLE refers to the factors that are analysed: Political, Economic, Social,
Technological, Ecological and Legal. Therefore, PESTEL analysis is a market study solely of external
factors that affect a company.

Porter's 5 Forces (b)

Porter's 5 Forces is an analytical model that helps marketing professionals and business managers
observe the "balance of power" in a market between different companies and analyse the
attractiveness and potential profitability of a business sector.

FODA-SWOT analysis (c)

Methodology for studying the situation of a company or a project, analysing its internal characteristics
and its external situation. All these aspects are considered from the precise knowledge of the company
and the circumstances of the general environment that surrounds it.

Business Model Canvas (d)

It is a strategic management tool that allows you to analyse and create business plans in a dynamic
and visual way. Thanks to its canvas format, divided into 9 blocks, it offers a global and simplified
overview of the company.

*examples on the diapos

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TOPIC 4

− Marketing Information and Customer Insights

Marketing Information and Customer Insights...

There are different ways to improve customer knowledge, but basically it can be highlighted 5 ways to
do it effectively:

​ a) Customer feedback strategy

​ b) Implement a CRM
​ c) View the most recent transactions
​ d) Understand your target market
​ e) See how they interact with your website
​ f) Collect customer feedback.
​

− Marketing Research

Marketing research applied international markets selection...

International market research is the process of studying the different factors that influence the growth
or crisis of markets in other countries, in order to know their behaviour to determine whether a
company can introduce its products successfully or not.

*diapos 6-11 + 13-14

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TOPIC 5

− Market Segmentation

What is market segmentation?

Market segmentation is a marketing technique that consists of categorising consumers into relatively
homogeneous groups, called segments, based on their socioeconomic, psychological, geographic or
behavioural characteristics that require differentiated strategies.

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− Market Targeting

What is market targeting?

Market segmentation is a marketing strategy that consists of dividing the public of a brand or business
into smaller groups, which are identified by certain characteristics they share with each other.

−
Positioning

What is positioning?

Is the technique used to create an image or identity for a product, brand or company. It is the "place"
that a product occupies in a given market as perceived by the target audience. Positioning is
something that is placed in the mind of the market.

*diapo 7 examples of surveys of positioning

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