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Strategy

Strategy and Marketing Primer (version 3.0)

This set of "crib notes" is a review of marketing and strategy tools and concepts that you may find useful for your project in EES&OR 483. The intention is not to give you more work or reading material, but rather to provide you with an aid and reference in formulating and analyzing your problem.

All of the concepts covered in lecture and the assigned readings are reviewed here. You might find the summaries a helpful reminder of what the concepts are and how they can be valuable in your project. Also, some topics found here are not covered in lectures or assigned readings (specifically, Sections 2.2, 2.4, and 5.1-5.5). These are additional topics on conceptual (i.e. MBA) marketing and strategy. Since lectures in this project course are limited and emphasize quantitative models for strategy, we do not have the time to cover all the topics in class. However, if you are not already familiar with basic marketing and strategy frameworks, we want to offer you more exposure to them. You may find this broader exposure helpful for several reasons:
• understand the context of what is covered in lecture
• properly frame your project
• find leads to other concepts that may be particularly relevant to your project

CONTENTS

1 GENERIC STRATEGY: TYPES OF COMPETITIVE ADVANTAGE 1
2 CONCEPTUAL STRATEGY FRAMEWORKS: HOW COMPETITIVE ADVANTAGE IS CREATED 2
2.1 PORTER'S 5 FORCES & INDUSTRY STRUCTURE 2
2.2 CORE COMPETENCE AND CAPABILITIES 5
2.3 RESOURCE-BASED VIEW OF THE FIRM (RBV) 6
2.4 ALTERNATIVE FRAMEWORKS: EVOLUTIONARY CHANGE AND HYPERCOMPETITION 7
3 ADDITIONAL TOOLS FOR STRATEGIC THINKING AND ANALYSIS 9
3.1 GAME THEORY 9
3.2 OPTIONS 10
3.3 STRATEGIC SCENARIOS 12
3.4 OTHER PARTICULARLY RELEVANT EES&OR CORE CONCEPTS 13
4 MARKETING MODELS FOR PRODUCT STRATEGY 14
4.1 NEW PRODUCT DIFFUSION MODELS 14
4.2 CONJOINT ANALYSIS 15
5 CONCEPTUAL MARKETING FRAMEWORKS 18
5.1 THE FOUR P'S OF THE MARKETING MIX 18
5.2...