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INTRODUCTION TO STRATEGY: SESSION 1 of 6

Paul Dawson M1 : INSEEC MASTERS

BORDEAUX OCTOBER 2011

PAUL DAWSON• Cambridge University : BA, MA

• University of California – Berkeley : MA

• Stanford Business School : MBA

• Engagement Manager : McKinsey and Company, (Los Angeles)

• CEO: Camus International (London, Hong Kong, Tokyo)

• Strategy Adviser: (Europe, Asia, Middle East, South America)

Email : [email protected] Tel: o6 45 54 09 66

mailto:[email protected]

LEARNING GOALS

• UNDERSTAND BUSINESS STRATEGY

• STUDY INTERNATIONAL BUSINESS CASES

• LEARN PRACTICAL BUSINESS SKILLS

Don’t be

LATE!

DOORS CLOSE ON TIME….

MORE PRACTICAL SKILLS…

• THINKING ON YOUR FEET

• THE COLD CALL

• THE ELEVATOR PRESENTATION

THE ELEVATOR PRESENTATION....

CLASS DYNAMICS

• IT’S A BUSINESS MEETING

• PARTICIPATE, CONTRIBUTE and LEARN

• PRESENT YOURSELF WELL!

GRADE STRUCTURE

• EXAM = 10 POINTS

• GROUP PRESENTATION = 5 POINTS

• CLASS PARTICPATION = 5 POINTS

• PROFESSOR DISCRETION = 3 POINTS

• MISSED CLASS = - 2 POINTS

• LATE = -1 POINT

MEETING ETIQUETTE

• “I don’t know”………….. not acceptable

• Franglais ………………. acceptable

• Think on your feet

• THIS IS A BUSINESS MEETING

BOF!(Not accepted either!)

BUSINESS MEETING RULES

• CLOSE YOUR LAPTOP

• TURN OFF YOUR PHONE

• LISTEN AND EXPRESS YOURSELF

• DON’T WAIT TO BE ASKED!

GETTING READY FOR BUSINESS

• THINK ON YOUR FEET

• HAVE AN OPINION

• DON’T WAIT TO BE ASKED

……SO LET’S PRACTISE:

FIND YOUR VOICE!

‘MARKETER’S TOOLKIT’‘Ten Strategies You Need to Succeed’

Harvard Business School Press 2006

Amazon.com $17.00

TODAY’S SESSION:TRADITIONAL MARKETING

“OLDIES BUT GOODIES” tried and tested marketing tools you must

understand

CASE STUDY and PRACTICEdeveloping a marketing strategy for a new product

WARM UP EXERCISE VIDEO

WARM UP VIDEO

GROUP WARM UP EXERCISE

- DIVIDE INTO GROUPS OF FIVE

- ELECT A SPOKES-PERSON

- YOU ARE USA TALENT AGENCY MARKETERS

- HOLD A BRAINSTORM SESSION (10 MINUTES)

WHAT FRENCH PRODUCTS OR SERVICES COULD SUSAN BOYLE ENDORSE?

WHAT IS “STRATEGY”?

GOOGLE SEARCH : HOW MANY HITS?

WHAT IS “STRATEGY”?


2,020,000,000

WHAT IS “GOD”?


WHAT IS “GOD”?


1,510,000,000

WHAT IS “SEX”?


WHAT IS “SEX”?


3,920,000,000

STRATEGY: more mysterious than GOD; less mysterious than SEX

• “GOD” - 1.5 BILLION HITS

• “STRATEGY” - 2.02 BILLION HITS

• “SEX” - 3.9 BILLION HITS

Google USA

WARM UP EXERCISE: THE MIND OF A STRATEGIST

• WHAT ARE THE THINGS THAT A STRATEGIST HAS TO THINK ABOUT IN A BIG MULTINATIONAL COMPANY ?

STRATEGISTS think about ALL ASPECTS of change……

• PRODUCT• CUSTOMER• COMPETITION• DISTRIBUTION• SALES • MARKETING• FINANCE• COSTS• MARGINS• HUMAN RESOURCES• RAW MATERIALS• PRODUCTION• LOGISTICS

• METEOROLGY• CLIMATE CHANGE• GEOGRAPHY• ECOLOGY• SOCIOLOGY• DEMOGRAPHICS• ECONOMICS• POLITICS• LEGAL• REGULATORY• TRENDS• VALUES

GOAL: MAXIMIZE PROFITS AND BRAND EQUITY (and…….?)

STRATEGY IS…..

“ A long term set of actions designed to achieve a particular goal”.

Source: American Business Intelligence

K

38AMAZON.FR (NOT AVAILABLE)

AMAZON. UK GBP 38

MOLLARD?

PETER DOYLE: 5 MARKETING TASKS

1. IDENTIFY TARGET CUSTOMERS/MARKETS

2. RESEARCH CUSTOMER NEEDS

3. DEVELOP UNIQUE PRODUCT

4. DETERMINE MARKETING MIX

5. MONITOR, MEASURE AND ADJUST

Source: “Marketing Management and Strategy”

DOYLE AND DAWSON:7 MARKETING TASKS

1. BRAINSTORM NEW PRODUCT CONCEPT

2. UNDERSTAND COMPETITIVE ENVIRONMENT






Paul Dawson /Peter Doyle

COMPETITIVE ANALYSIS

MICHAEL PORTER’S 5 FORCES

• THREAT OF NEW ENTRANTS

• THREAT OF SUBSTITUTES

• BARGAINING POWER OF BUYERS

• BARGAINING POWER OF SUPPLIERS

• INTENSITY OF COMPETITIVE RIVALRY

5 FORCES IN ACTION

• YOU ARE STRATEGIC MANAGERS AT RUINART CHAMPAGNE

• YOU ARE CONSIDERING OPENING A FACILITY IN CALIFORNIA…..

• WHAT WOULD PORTER SAY?

SWOT ANALYSIS

SWOT ANALYSIS IN ACTION...

• YOU ARE STRATEGIC MANAGERS AT A GREY GOOSE VODKA

• YOU ARE CONSIDERING LAUNCHING A RUM PRODUCT

• WHAT WILL YOUR SWOT LOOK LIKE?

SWOT ANALYSIS IN ACTION...

• YOU ARE STRATEGIC MANAGERS AT RENAULT’s INTERNATIONAL CAR DIVISION

• YOU ARE CONSIDERING BUILDING A NEW FACTORY IN INDIA…..

• WHAT WILL OUR SWOT LOOK LIKE?

THE 4 P’s

MARKETING MIX: 4 P’s

• HOW should I describe my product?

• HOW MUCH am I going to sell it for ?

• WHERE am I going to sell my product?

• HOW am I going to tell people about my product?

4 P’S IN ACTION

YOU ARE MANUFACTURERS OF “HEALTHY” FRUIT-BASED SWEETS FOR CHILDREN….

What’s aUSP?

USP = UNIQUE SELLING PROPOSITION

• WHAT MAKES MY PRODUCT UNIQUE?

• WHY IS MY PRODUCT DIFFERENT FROM THE COMPETITION?

• HOW IS MY PRODUCT / BRAND DIFFERENTIATED ?

BRAND MANAGEMENT STRATEGY

• Analyze your market • Know your brand• Understand your customer• Organize, prioritize and allocate resources

Nothing revolutionary: classic brand management

FRQUENTLY OVER- USED MARKETING TOOLS

• Porter 5 forces

• SWOT Analysis

• 4 P’s

• USE THEM TO DEVELOP YOUR “SO WHAT”

See next page

AFRICA: WORLD’S 3RD FASTEST GROWING REGION

WORKING POPULATION CHANGES OVER TIME

GIVE ME THE “SO WHAT”

THE “SO WHAT”

TELL ME WHAT IT SAYS….

THEN TELL ME WHAT IT MEANS !

SUMMARY

• STRATEGY TOOLS ARE GOOD….

• BUT

• DON’T JUST REPEAT THE FRAMEWORK

• YOUR BOSS WANTS YOUR “SO WHAT”

7 BASIC MARKETING TASKS









KNOW YOUR CUSTOMER

• DEMOGRAPHICS: WHO/ WHERE?

• AGE

• GENDER

• INCOME

• LIKES/DISLIKES

SOCIO ECONOMIC CLASSIFICATIONS

A Upper Middle Class

B Lower Middle Class

C Working Class

D Lower Class

SOCIO-ECONONOMIC STRUCTURE - USA

LIMITATIONS OF CLASSIFICATION

• MOBILITY

• BLURRED BOUNDARIES

• DUAL INCOMES

• INTERNATIONAL COMPARISONS

CUSTOMER SEGMENTATION• GEOGRAPHIC• DEMOGRAPHIC

age gender family sizemarital status sexual orientationincome occupation educationsocio-economic status

• PSYCHOGRAPHICpersonality lifestyle hobbies values attitudes

• BEHAVIORALperceived benefits end use

GENERATIONS

• BABY BOOMERS 1946 - 1965

• GENERATION “X” 1960 - 1975

• GENERATION “Y” 1980 -(MILLENIALS)

GENERATIONS IN THE USA TODAY

Generation Population Spending Power

BOOMERS 78 MILLION $2.1 TRILLION

GENERATION “X” 41 MILLION $ 125 BILLION

MILLENIALS 73 MILLION $ 73 BILLION

Yankelovich, US Census

THE MILLENNIAL MIND

Technology drivenReject “old” Marketing

Experiment

Make their own rules

Share

Social Networking

Explore

MARKET RESEARCH

• FORMAL QUANTITATIVE SURVEY

• FOCUS GROUPS

• INDIVIDUAL INTERVIEWS

• INFORMAL DISCUSSIONS

BRAND MANAGEMENT STRATEGY

• Analyze your market • Know your brand• Understand your customer• Organize, prioritize and allocate resources

Nothing revolutionary: classic brand management

RED BULL CASE STUDY

YOU ARE RED BULL STRATEGISTS:

• YOU ARE STRATEGISTS for RED BULL ENERGY DRINKS • RED BULL NEEDS TO GROW• BUT ENERGY DRINKS MARKET SATURATED• YOUR CHALLENGE: TO KICK START A NEW GROWTH

SPURT FOR RED BULL:– IDENTIFY A BRAND EXTENSION– AVOID CANNIBALIZATION– BUILD ON BRAND PLATFORM

• GROW MARKET SHARE AND PROFITS

RED BULL CASE STUDY

AGGRESSIVE PROMOTIONAL ACTIVITY

SIMPLE BUT EFFECTIVE COMMUNICATION

“RED BULL GIVES YOU WINGS”

GIVES YOU WINGS….

GIVES YOU WINGS….?

“OWNS” EXTREME SPORTS CATEGORY

LONDON EXTREME AIR RACE

EXTREME AIR RACE : LONDON

LONDON

ISTANBUL

BUDAPEST

NEW YORK

LAGUNA SECA BIKE RACE

RED BULL EXTREME MOTOR BIKE

RED BULL ‘EXTREME JET RACING’

RED BULL EXTREME SKI JUMP

RED BULL EXTREME SKI

RED BULL EXTREME MARATHON

RED BULL TOBOGGAN

RED BULL EXTREME CLIFF DIVEACAPULCO

RED BULL EXTREME DIRT BIKE

EXTREMEE CLIFF DIVE - HONG KONG

RED BULL EXTREME SURF - HAWAII

RED BULL EXTREME HELI SURF SKI

RED BULL ROCKET MAN

THE RED BULL GIRLS

MORE RED BULL GIRLS…

AVOID CROWDED ENERGY DRINK SECTOR…

CLASS EXERCISE

• NEW PRODUCT CONCEPT NEEDED• CROWDED CATEGORY• HIGHLY COMPETITIVE• MARKET SATURATION REACHED• NEED TO GROW MARKET SHARE• NEED TO AVOID CANNIBALIZATION

BRAINSTORM AND DEVELOP NEW PRODUCT CONCEPTGROUP WORK + CLASS PRESENTATION

REBRANDING A CLASSIC FRENCH ICON

M1 MARKETING 2011

LILLET

ICONIC

TRADITIONAL

TRENDY

COCKTAIL CULTURE

LILLET CASE STUDY

• LILLET: bought by Pernod Ricard January 2008• 2007 Sales Euros 3.8 million• 2007 Volumes 750,000 bottles per year• Located Podensac, Bordeaux• 7 employees

LILLET (Continued)

• 85% wine and 15% fruit liqueur• Liqueur made from: - Spanish sweet oranges - Tahitian bitter oranges - Moroccan green oranges - Peruvian Quinina - Aged in oak barrels

LILLET (continued)

• Brazilian monk invented recipe in Louis XVI era• Company founded by Lillet brothers in 1872• Duchess Of Windsor brand champion in 1950’s (Travelled with Lillet in her luggage)• James Bond Secret Agent 007 favourite drink:

Casino Royale, Quantum of Solace

LILLET: THE ‘VESPER’ MARTINI

Pour over 5 ice cubes: • 3 measures Gin• 1 measure Vodka• Half measure Lillet• One large lemon zest

“Shaken, not stirred” ( A movie classic)

HOMEWORK BRIEFING : REPOSITIONING LILLET

YOUR BOSS WANTS TO TEST A LILLET RELAUNCH IN BORDEAUX HOW CAN YOU REPOSITION THIS BRAND FOR MILLENNIALS?DO SOME MARKET RESEARCH!

HOW TO RELAUNCH THIS OLD BRAND FOR A NEW GENERATION?

DIVIDE INTO GROUPS OF 4-6 PEOPLE

YOUR PRESENTATION SHOULD INCLUDE….

• MARKET RESEARCH RESULTS• NEW BRAND POSITIONING• IDEAS FOR ADVERISING AND PROMOTION• NEW PACKAGING?

BE AS CREATIVE AS YOU WANT!

BRING GROUP PRESENTATION ON USB KEY AND A PAPER COPY TO NEXT CLASS.

BE READY TO PRESENT!

HISTORY4 P’s

SWOTPORTER

(PS: I LIKE MUSIC AND VIDEO AND COLOURFUL IMAGES!)

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