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THE MARE MODEL

THE MARE MODEL. Best Practices for Addressing the Marketing Success Factors (MSFs). BEST PRACTICES AND MSFs. Purpose of the Section Identify a “menu of actions” for how to pursue the opportunity. Identify the key actions (marketing success factors) needed to create competitive advantage.

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THE MARE MODEL

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  1. THE MARE MODEL Best Practices for Addressing the Marketing Success Factors (MSFs)

  2. BEST PRACTICES AND MSFs • Purpose of the Section • Identify a “menu of actions” for how to pursue the opportunity. • Identify the key actions (marketing success factors) needed to create competitive advantage. • Benchmark the marketing success factors using companies both inside and outside the industry.

  3. BEST PRACTICES AND MSFs Basic Logic Before trying to figure out what I should do, it would be useful to know what has worked for others. If I understand what has created success for others, I can copy or adapt what they do, and it should be successful for me. Maybe I can learn about new ways to approach the market by looking outside my industry.

  4. BEST PRACTICES AND MSFs Component Steps Identify the marketing-related marketing success factors (MSFs). Identify alternative ways for achieving each marketing success factor. Evaluate the effectiveness of the alternative actions.

  5. IDENTIFYING THE MSFs Scope Factors influencing customer preference, purchasing, and behavior Distribution or channel cooperation R&D Service and support Gaining trust or conveying competence Being able to find customers

  6. IDENTIFYING THE MSFs MARE Model Inputs • Means-ends map and ACE matrix • Market barriers • Sources of growth • Risks Outputs • A list of marketing success factors • A clear indication of how those success factors differentiate players in the marketplace

  7. IDENTIFYING THE MSFs Tools Leidecker and Bruno (1984) Environmental Analysis Industry Structure Analysis Conventional Wisdom Analysis of Competition Analysis of Dominant Firms in Industry Company Assessment Temporal and Intuitive Factors

  8. IDENTIFYING THE MSFs Tools Customer-Focused approach Resource Based View Ketelhohn’s activities chain mapping From Ketelhohn, Werner (1998), “What Is a Key Success Factor?” European Management Journal, 16 (3), 335-40.

  9. IDENTIFYING THE MSFs Example – New Product Success Rate Citation Lynn, Gary S., Kate D. Abel, William S Valentine, and Robert C Wright (1999), “Key Factors in Increasing Speed to Market and Improving New Product Success Rates,” Industrial Marketing Management; 28 (4), 319-326. Article http://ntserver1.wsulibs.wsu.edu:2141/science?_ob=MImg&_imagekey=B6V69-3X2941W-1-H&_cdi=5809&_user=7810834&_pii=S001985019800008X&_origin=browse&_coverDate=07%2F31%2F1999&_sk=999719995&view=c&wchp=dGLbVzz-zSkzk&md5=d797d600d42d2a9525be142f753fc454&ie=/sdarticle.pdf http://www.systems.wsu.edu/scripts/wsuall.pl?url=http://van-ezproxy.vancouver.wsu.edu:2060/login.aspx?direct=true&db=bth&AN=12129920&site=bsi-live

  10. IDENTIFYING THE MSFs Example – Social Media Marketing

  11. BENCHMARK ALTERNATIVESTO ACHIEVE MSFs Scope Examine: Processes, not just outcomes Appropriate measurement Comparison between the exemplar and others Learning and improvement Extensive research using: Trade journals Popular business press Academic studies

  12. BENCHMARK ALTERNATIVESTO ACHIEVE MSFs Outputs A list of multiple methods for approaching each MSF A detailed description of each method

  13. BENCHMARK ALTERNATIVESTO ACHIEVE MSFs Jarrar and Zairi’s Model Defining best practices Good idea Good practice Proven best practice Jarrar, Yasar F. and Mohamed Zairi, (2000), “Best Practice Transfer for Future Competitiveness: A Study of Best Practices,” Total Quality Management, 11 (4/5/6), S734-S740.

  14. BENCHMARK ALTERNATIVESTO ACHIEVE MSFs Jarrar and Zairi’s Model Defining best practices Identifying best practices Literature review Resources for best practices Internet resources Peers

  15. BENCHMARK ALTERNATIVESTO ACHIEVE MSFs Jarrar and Zairi’s Model Defining best practices Identifying best practices Evaluation

  16. BENCHMARK ALTERNATIVESTO ACHIEVE MSFs Jarrar and Zairi’s Model Defining best practices Identifying best practices Evaluation Validating Implementing Planned leadership Identify and plan for inhibitors Clearly identify best practices gaps Make certain people understand the process

  17. BENCHMARK ALTERNATIVESTO ACHIEVE MSFs Jarrar and Zairi’s Model Defining best practices Identifying best practices Evaluation Validating Implementing Transferring Make certain to address most common reasons for failure (see page 738 in article) Review Routinizing

  18. BENCHMARK ALTERNATIVESTO ACHIEVE MSFs Andersen’s Benchmarking Process Work out what needs improving (MSFs) Track down the world leader: Product or process Within or outside the industry Determine exactly how/why the benchmark company performs so well Focus on intangible components Andersen, Bjorn (1999), “Industrial Benchmarking for Competitive Advantage,” Human Systems Management, 18 (3/4), 287-96.

  19. BENCHMARK ALTERNATIVESTO ACHIEVE MSFs Spear & Bowen Benchmark Failures Toyota example Spear, Steven and H. Kent Bowen, (1999), “Decoding the DNA of the Toyota Production System,” Harvard Business Review, 77 (5), 96-106.

  20. EVALUATE EFFECTIVENESS OF ALTERNATIVES Scope • Degree • Conditions • Causality

  21. EVALUATE EFFECTIVENESS OF ALTERNATIVES Outputs • A summary statement of each action’s relative effectiveness • A numeric estimate of the benchmark action’s potential value

  22. EVALUATE EFFECTIVENESS OF ALTERNATIVES Tools • Reported Results • Causality Analysis • Analogy • Rules of Thumb

  23. EVALUATE EFFECTIVENESS OF ALTERNATIVES Benchmarking Examples Distribution • http://www.entrepreneur.com/growyourbusiness/howtoguides/article80784.html

  24. EVALUATE EFFECTIVENESS OF ALTERNATIVES Benchmarking Examples Building trust

  25. EVALUATE EFFECTIVENESS OF ALTERNATIVES Benchmarking Examples – “How to” • Find customers (video) • http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2396 • Build brands • Cooper, Lou (2010), “How to retain customers and build brand loyalty,” Marketing Week , 33 (37), 22-23. http://www.systems.wsu.edu/scripts/wsuall.pl?url=http://van-ezproxy.vancouver.wsu.edu:2060/login.aspx?direct=true&db=bth&AN=53851692&site=bsi-live • Build satisfaction • Battelle, John, et al (2003), “How to Create Fanatically Loyal Customers,” Business 2.0, 4 (11), 86-86. http://www.systems.wsu.edu/scripts/wsuall.pl?url=http://van-ezproxy.vancouver.wsu.edu:2060/login.aspx?direct=true&db=bth&AN=11546649&site=bsi-live • Get on the shelf • McKee , Bradford (1992) “How to get your product onto retailers' shelves,” Nation's Business, 80 (10), 8. http://www.systems.wsu.edu/scripts/wsuall.pl?url=http://van-ezproxy.vancouver.wsu.edu:2060/login.aspx?direct=true&db=bth&AN=9301314007&site=bsi-live

  26. EVALUATE EFFECTIVENESS OF ALTERNATIVES Finding Benchmarking Examples

  27. EVALUATE EFFECTIVENESS OF ALTERNATIVES Finding Benchmarking Examples

  28. EVALUATE EFFECTIVENESS OF ALTERNATIVES Finding Benchmarking Examples

  29. EVALUATE EFFECTIVENESS OF ALTERNATIVES Finding Benchmarking Examples

  30. BENCHMARKING AND MSFs

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