Marketing Plans, 9th Edition

Conclusion: Guidelines from the Authors on World-Class Marketing

INTRODUCTION

Below is a ten-point summary of most of the wisdom set out in the pages of this book (section A). Each of these ten guidelines is then expanded on in sections B to F.

• A: Ten Guidelines for World-Class Marketing (summary)
  1. Understand that marketing is the driver of strategy in the boardroom.
  2. Understand your market and how it works.
  3. Carry out proper, needs-based segmentation on decision makers.
  4. Understand your own strengths and weaknesses.
  5. Understand your portfolio of segments.
  6. Set realistic objectives and strategies for each segment to grow your sales and profits.
  7. Focus and play to win in a few segments only.
  8. Calculate whether your objectives and strategies will create shareholder value.
  9. Justify financially investments in marketing.
  10. Be professional and ethical.
• B
  1. Understand that marketing is the driver of strategy in the boardroom
     • It is NOT promotion.
     • Everything an organization does from R&D through to delivery adapts to and converges on the business value proposition that is projected to the customer.
  2. Understand your market and how it works
     • Define the market in terms of needs, not products.
     • Map how it works from end to end, showing product/service flows in total and your shares.
     • Understand how it is changing.
     • Identify major junctions where decisions are made.
• C
  3. Carry out proper, needs-based segmentation on decision makers
     • Do not confuse needs-based segmentation with descriptors such ...