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The Marketing
Planning Workbook
by Andrew Pearson
COACHING BUSINESS
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The Marketing
Planning Workbook
© Copyright 2012 Andrew M. Pearson
ALL RIGHTS RESERVED. No part of this report may be reproduced or transmitted in any form whatsoever,
electronic, or mechanical, including photocopying, recording, or by any informational storage or retrieval system
without express written, dated and signed permission from the author.
DISCLAIMER AND/OR LEGAL NOTICES:
The information presented herein represents the view of the author as of the date of publication. Because of the
rate with which conditions change, the author reserves the right to alter and update his opinion based on the new
conditions. The report is for informational purposes only. Whilst every attempt has been made to verify the
information provided in this report, neither the author nor his affiliates/partners assume any responsibility for
errors, inaccuracies or omissions.
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CONTENTS Page
INTRODUCTION 5
BUSINESS REALITIES 6-13
MARKET STRATEGY 14-26
MARKETING TACTICS 27-39
CONCLUSION 40
SOME EXTRAS 41-48
ABOUT US 49
CONTENTS
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Marketing checklists – love them or loath them, they are at the heart of management
thinking and practice. And they serve two purposes.
The first is to provide a framework to improve marketing performance. The second is
to help managers and business owners with an easy to follow system for crafting
today’s - and tomorrow’s - breakthrough marketing strategies and plans.
‘The Marketing Planning Workbook’ takes the reader through each of the key
steps involved in developing a marketing plan in a clear, structured and practical way
by answering the following key questions:
• What is the big idea? The Business Realities
• What are my objectives? The Market Strategy
• How am I going to achieve them? The Marketing Tactics
The workbook breaks down into three broad sections. The first; The Business
Realities, is a health check, a series of questions that have always stimulated
discussion amongst managers. The second, Market Strategy is concerned with the
approach to achieving the company’s objectives. The third and final section concerns
the Market ing tactics required to deliver the market strategy .
Thus the checklists work from the essentials of business direction to delivery in
straightforward language that cuts away the buzzwords and acronyms to show you
things they don’t teach you in business schools about marketing! We hope you find
‘The Marketing Planning Workbook’ a useful addition to your current way of
marketing planning
INTRODUCTION
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The Marketing Planning Workbook
1.
BUSINESS REALITIES
The business challenges
How well are we doing?
Opportunity, risk and innovation
What we need to know competitors
Playing to strengths
Exploiting competitive advantages
Key Success Factors
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THE BUSINESS CHALLENGES
Questions and Assignments
1. What problems is your company is currently facing. Given these
problems, what actions should it be taking?
2. What is the company’s current knowledge area (core competence)? How
can it leverage this specialisation in new products or new markets? What
new competencies will it need to develop in the future?
3. What changes are taking place in the company’s industry? Given these
changes, how should it respond? Are any new customer segments
emerging that the company should be targeting? Are there any new
customer needs that the company should aim to satisfy?
4. What criteria would the company use to decide whether a customer is
"right" or "wrong" for the business? Apply these criteria to determine
which customers it should to target and decide how to target them.
5. What business is the company really in? Are there any other possible
definitions for the business? Explore the implications of defining it in the
different ways have been identified.
6. What are the key success factors in the business? How are they changing?
How should it respond to these changes?
7. What is the company’s real value-added? Why do customers buy from it?
Why do they buy from its competitors? Given the changes taking place in
the company’s industry, what will be its value added in the future?
8. Who are your company’s most threatening competitors? How are they
playing the game? What would the company have to do to outperform its
chief competitors?
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HOW WELL ARE WE DOING?
Questions and Assignments
1. What is the market for each of your company’s products or services by size,
competitive intensity, and potential economic and innovating trends? How
well are your company’s products or services performing by revenue
contribution and by share of the cost burden in each?
2. How well are your company’s products or services performing by revenue
contribution and by share of the cost burden? To what extent is the mix
driven by toady’s breadwinners, tomorrow’s breadwinners, problem
products or services and yesterdays breadwinners?
3. How well are your customers and channels performing by revenue
contribution and by share of the cost burden? How are these changing by
technology, customer expectations and values?
4. How effectively are financial and knowledge resources allocated to each
product? Are they allocated to opportunities rather than to problems? To
what extent is working capital and the marketing budget contributing to
revenue?
5. To what extent are your company’s products or services leaders in your
markets, customers and channels? Is – or can – leadership be based on price
or quality (reliability, appearance, design, reputation etc)?
6. Does your company use transaction analysis to represent the cost structure
of a market, product and customer
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OPPORTUNITY, RISK AND INNOVATION
Questions and Assignments
1. Is your company constantly attuned to spotting opportunities and means to
exploit them through creativity and innovation?
2. What opportunities are available to your company? Can you spot them in
additive, complementary and breakthrough openings, new means of
production, new channels, new or improved services, relationship building
and communications methods?
3. How do you identify opportunities? Do you spot them from problem
analysis, customer proposals, creative groups, market mapping, features
stretching, features blending and stretch techniques?
4. Do you screen and select opportunities by size, investment need, return and
risk?
5. When you evaluate an opportunity is risk evaluated on the basis of one you
can afford to take, one that you cannot afford to take or one that you cannot
afford not to take?
6. How effective are your innovation processes? Are you able to generate new
ways to meet changing customer needs and different ways of doing things
through your knowledge of customer needs, technology knowledge to
produce the products or services required and through your capability to do
what you do even better?
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WHAT DO WE KNOW ABOUT OUR
COMPETITORS?
Questions and Assignments
1. Who are your competitors? Now? Five years from now? What factors could
cause changes in the identity of your competitors? Acquisitions?
Deregulation? Import penetration? Channels? New technology? Raw
materials? Legislation?
2. What are your competitors’ investment priorities? Goals and objectives?
What is their market standing? What are their assumptions about the
market? Industry?
3. How important is your specific market(s) to each of your competitors? What
is the level of their commitment? Do you therefore know what effort each
competitor is likely to make to defend or improve its position in your
market(s)?
4. What are your competitor’s strengths and limitations? In what respect is
each one better or worse that you are? What if its strategies are working and
which are not? Is it usually safe to assume that the former will be continued
and the latter changed?
5. What weaknesses make a competitor vulnerable? Are they to do with cash,
margin, growth, operations and distribution coasts, overdependence on one
market or one customer, people? Can you attack them with your strongest
forces at their weakest point?
6. What changes are competitors like to make in their future strategies? Are
they seeking strong investment candidates (stars) or cash cows?
7. What effects will your competitors’ strategies have on the industry on the
market and on your strategy?
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PLAYING TO STRENGTHS
Questions and Assignments
1. Does your business specialise in an area in which it leads? Does this area of
specialisation (or competence) integrate business activities into one
knowledge or one market?
2. Can this knowledge area be enhanced to give your company a unique lead
and enable it to diversify?
3. Is your company diversified in products and markets and highly
concentrated in its business knowledge area or is it diversified in its
knowledge area and highly concentrated in its products and markets?
4. Do you think your company obtains the most from its specialisation
5. Could your company’s specialization and knowledge area enable it to
diversify into complementary and breakthrough opportunities to create
additional unique strategic positions?
6. Could your business capitalize on time and productivity gains by acquiring
or enhancing its specialist knowledge by buying business, rather than
building business to achieve its goals in additive, complementary and
breakthrough opportunities?
7. Does your company’s strategy follow organisation structure decisions or
does its organisational structure follow its strategy making decisions?
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EXPLOITING COMPETITIVE ADVANTAGES
Questions and Assignments
1. What does your company offer the market place that is unique and valuable?
How will that offer be maintained? How will it be protected from imitation buys
competitors? What is the source of that competitive advantage?
2. Does your company’s competitive advantage based on better value for money
that comes from lower prices? Does it come from differentiating the offer
through performance features, service, branding and brand image and access to
distribution?
3. Does your competitive advantage derive from its value chain, reputation or its
strategic assets or a combination of all?
4. Does competitive advantage flow from lower input costs, economies of scale,
experience curve effects or technological innovation or a combination of all?
5. Does your business possess advantages in its product, market or technical
knowledge or a combination of all?
6. Does your competitive advantage from relationships with your customers,
suppliers, investors and employees?
7. Does competitive advantage flow from structural success? Does it come from
your company’s culture, capabilities and activity systems?
8. Can your company exploit and sustain competitiveness in each of the
aforementioned areas?
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KEY FACTORS FOR SUCCESS
Questions and Assignments
1. Do you plot the Key Success Factors (KSFs) in your business? What handful of
KSFs are the important ones?
2. Do they show you how well equipped you are to compete in them? Do they show
you priority areas for building competitive advantage?
3. What are the largest areas of cost in your business? Advertising and packaging?
Materials and labour? Equipment and stock? Others?
4. What have been the reasons for success or failure amongst competitors? Wide
or narrow product range? Relationships with key customers? Others?
5. Which areas of the business is it possible to build competitive advantage? Price?
Differentiation through wide distribution, strong relationships, advertising,
product features and quality?
6. Have KSFs in your business changed over time? Do you anticipate change? Do
they pose a threat or an opportunity?
7. Are you able to change the nature of KSFs in your business by innovation?
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The Marketing Planning Workbook
2.
MARKET STRATEGY
An ‘offensive approach’
Business purpose
Vision and mission
Market objectives
Market standing
Market strategy
Offensive strategies for exploiting competitive advantages
Create a customer or two!
Something of value that’s different!
Gaining commitment
Structure activities and capability
Marketing planning
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AN ‘OFFENSIVE’ APPROACH
Questions and Assignments
1. Vision and purpose?
2. A strong commitment to providing superior value to customers, backed
by a low cost operation?
3. A strong emphasis on innovation throughout the business, both ‘daily
trickle’ and ‘big bang’, in the right balance for the industry. Stress on
technology, support, recognition and reward for successful innovators.
Structure where innovation can flourish?
5. An ability to achieve required short term results, combined with a strong
focus on long term objectives?
6. Commitment to continued investment in all assets, like brands, people,
new products and equipment, even when faced by strong short term
pressures?
7. Overall focus on attacking competition, but at carefully chosen times and
places?
8. Fast, good quality response to new opportunities or competitive threats
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BUSINESS PURPOSE
Questions and Assignments
1 What is your business? Are you responsible for the answer – or is someone
else?
2 Is your company’s business purpose defined by the company name or by the
want the customer satisfies when he buys your product or service?
3 Does your company raise and study this question when the business is
successful and at its inception?
4 What does your customer see, think, believe and want from your product or
service?
5 Who is the actual and the potential customer? Where is he? How does he
buy? How can he be reached?
6 What does the customer buy? Why does he buy your product or service?
Why does he buy from your competitors?
7. What does the customer value? What does he look for when he buys? Is
price one of a number of considerations and only a part of value?
8 What will be your business? What is your market’s potential and trends?
What changes in market structure are to be expected? What innovations will
change customer wants? What wants do customers have that are not
adequately satisfied by the products and services offered to him today?
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VISION AND MISSION
Questions and Assignments
1. Imagine a time three years from now. You are in New York on a long
weekend break. You want to send a postcard home or to the office explaining
where you are, what you are doing, how well the business is doing well and
what you have achieved for your stakeholders – what would you write – and
see how close you have come to achieving your vision and mission?
2. Does your vision statement offer a picture of a more valuable world, convey
leadership and communicate what you wish it to achieve for your
stakeholders?
3. Does your mission statement define the nature of your business, what it
aims to do achieve and how it aims to achieve it?
5. Does your company have either?
6. What would you do to set out to create / improve your vision statement?
Does it convey the value you have created and show how those involved will
gain and be better off?
7. Does your mission statement convey news of the benefits offered by your
products and services to meet the needs of your customers? Does it show the
innovation and the sources of competitive advantage your company is based
on?
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MARKETING OBJECTIVES
Questions and Assignments
1. Do your company’s objectives set targets for growth, product
penetration/development, market development, position relative to
competitors?
2. In what ways can you add customers, increase their average spend and
increase their frequency of purchase?
3. Are your company’s objectives for growth consistent with its area of
knowledge and capabilities, ability to attract new resources and approach to
risk?
4. Do you set innovation goals for new and improved products and services to
achieve marketing objectives, technological changes to replace obsolete
products, new production processes to attain pricing objectives and systems
to enhance planning, activity and implementation to keep up with advances
in knowhow and skill?
5. Are your people clear about their objectives for performance and the plans
through which they will be attained? Who sets these objectives and how are
they set?
6. Are these targets specific? Do they reflect targets to be accomplished, time
defined for achieving results, challenging and attainable and measureable?
7. What steps are taken to ensure that your managers and people succeed in
delivering their objectives?
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MARKET STANDING
Questions and Assignments
1. What is the required standing of your company’s existing products in their
existing markets, in revenue and percentage of the market, measured
against direct and indirect competition?
2. What is the required standing of your company’s existing products in new
markets, in revenue and percentage of the market, measured against direct
and indirect competition?
3. What existing products that should be discarded – for technological reasons
and market trends, to improve the product mix or following decisions to
change the purpose of the business?
4. What new products are needed in existing markets – in terms of the number
of products, their properties, and revenue and market share potential?
5. What new markets that new products should develop planned– in revenue
and percentage terms?
6. Does the company’s distributive organisation achieve the marketing goals
and pricing policy appropriate to them?
7. Does your company’s s service objective measure how well the customer
should be supplied with what he considers value by the company, its
products, sales and service organisation? Does it deliver customer loyalty
and satisfaction? Is service performance carried out independently?
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MARKET STRATEGY
Questions and Assignments
1. Does the market strategy define the actions your company needs to take to
pursue its business objectives?
2. Does the content of the market strategy fully define the products to be
offered, the markets to be targeted and the approaches required to compete?
3. Is the strategy content consistent with the vision and mission defined by the
business?
4. What generic entry positioning strategies and competitive approaches are
adopted to establish offers of new value in the market place?
5. How effective is the strategy process in defining the way decisions are made
about strategy content? Does it consider the company’s future, how it selects
its goals and the way resources are allocated to achieve them?
6. Is the strategy process embedded in the structure, systems and processes
that the firm adopts as well as the culture and leadership style of the
business?
7. What decisions are made to control the strategy process?
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OFFENSIVE STRATEGIES FOR
EXPLOITING COMPETITIVE ADVANTAGES
Questions and Assignments
1. Head on strategies to drive back / overwhelm a competitor? Strong
products, heavy market support and well financed?
2. Flanking strategies to attack a competitor’s weakness with your strongest
forces and invalidate rival’s product or service? Price (high or low)? Enter
neglected segments? Product innovation?
3. Concentrate on niche product distinctive segments? Attractive to you but
not to competitors? Collect premium prices? Low scale economies? Above
average profit margins?
4. Guerrilla strategy? Surprise? Tactical flexibility? Make selective attacks to
harass competitor’s weaker products with ‘fighting brands’? Invalidate
competitor’s new or improved products or services with ‘fighting brands’??
5. Market saturation- encirclement? A wide range of product or services?
Absorb high proportion of stock and display space?
6. Regional concentration? Brand leadership in miniature? Local market
knowledge and reputation?
7. Product concentration? Limited range of power brands? Strongly
advertised? Very efficiently produced in high volume?
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CREATE A CUTOMER OR TWO!
Questions and Assignments
1. What do your customers need / want?
2. Is there a danger you are actually telling them that they need you?
3. What are your customers’ current priorities? Remember you may have
several different types of customer buying your products and services right
now!
4. Can you define them by who they are, what they buy and why they buy?
5. What feedback are you getting to pinpoint/establish the value your
customers seek? How often do you do this?
6. Are there gaps in your market? What customer groups are not being served
that could be being served that you should be developing?
7. Are there any new needs or priorities on the horizon that you should be
attending to?
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SOMETHING OF VALUE THAT’S DIFFERENT!
Questions and Assignments
1. What understanding do you have of the criteria by which buyers distinguish
among different products/services on offer and the extent to which they
consider them substitutable?
2. What factors are important to buyers? What importance do your buyers
attaché to these factors; price, perceived quality, demographic imagery,
performance, the number and type of features, brand imagery, service and
support, attitudes to suppliers?
3. An effective proposition of value – or market positioning - guides product/
service development and avoids head on competition. Does your company have
a proposition of value?
4. What value proposition do you offer your customer groups? Does it offer
customers more value relative to your competitors? Does it give you
competitive space?
5. What is the basis of your value proposition(s)? Does it add value for
customers? Does it target specific customer segments? Does it address the
needs of these segments? Does it offer means, or technology, to address these
needs?
6. How often do you gather information to help you test the efficacy of your
market positioning and value proposition to make sure that you are fully
engaging with your customers?
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GAINING COMITMENT
Questions and Assignments
1. An understanding of the networks your business operates in is important. Does
your company have effective relationships with stakeholders and third parties?
Does it mange its relationships with these to increase the overall value to those
in the network?
2. Does your company have strong relationships with its suppliers? Can you build
strong relationships with your competitors suppliers of who may see your
established and new products as a threat to their business?
3. Do your company’s products genuinely satisfy customers, needs, solve their
problems and meet their aspirations? Does your selling effort enable you to
cause your potential and existing customers to buy your products / services?
Know where your customer groups congregate? Does your company create
rewarding personal and organisational relationships with its customers?
4. Do your company’s distributors create economic value for your business? Is
your company able to fulfil the needs of its distributors; which include; The
margin, rate of sale and cost of storage of your product / service?
5. Are the people employed by your company committed to it? Are your people
sufficiently customer led? Are they able to deliver the personal and
organisational relationships required by all the company’s stakeholders?
6. Is your company aware of how to approach investment backers and how
investors select investment opportunities? Are you aware of the questions
investors need answering?
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STRUCTURE, ACTIVITY AND CAPABILITY
Questions and Assignments
1. Does your company operate with the optimal value chain? Does it have the
appropriate functional policies?
2. Given the market company is in, do you feel that your company has designed
and developed a well balanced activity system to pursue its strategy?
3. Have these activities been combined into a system that creates the requisite fit
between the needs of the market and the actions taken by the company? What
happens if your market changes? Do you ensure that the activity system creates
the requisite fit?
4. Does the activity system fit the ones demanded by the market? Do they fit
together like a jig-saw to form a collective fit with the market and balance one
another over time?
5. Is your company’s competitive positioning based on performing activities
differently, or is it choosing to perform different activities from those of your
competitors?
6. Has your company developed internal variety that will allow it to develop
capabilities even before it knows what competencies are required?
7. Has it developed a culture of change? Has it institutionalised continual
innovation?
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MARKETING PLANNING
Questions and Assignments
1. Does your company have a fixation with excellent tactics at the expense of
strategy? Does your company have a two to three year strategic plan? Tactical
plans for one year of less?
2. Does your have a formalised system for marketing planning? Is there active
internal support for it from the CEO? Does marketing and marketing planning
benefit from line management support and skills?
3. How would you describe your company’s marketing planning system? What are
the good points and the bad things about it? How could it be improved? Do you
use techniques to structure an influential marketing plan?
4. Is there an awareness of lost market opportunities and or serious
environmental and competitive conditions due to unpreparedness and real
confusion over what to do about this? Is here a understanding of how to make
the business more responsive in the face of opportunity and uncertainty?
5. Is there a deep understanding of what the company can do better than its
competitors? How its distinctive competence can b matched with the needs of
certain customer groups?
6. Does your company’s marketing planning system result in excessive detail?
Does it ask for essential data to intellectualise over future choices? Does it place
great emphasis on underlying thinking behind objectives and strategies
7. Does longer term planning determine difficult choices between the emphasis to
be placed on commercial operation and the development of the business? Are
longer terms projections separate from shorter term planning activities that
take the form of forecasting and budgeting?
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The Marketing Planning Workbook
3.
MARKETING TACTICS
The Marketing Mix
Brand and image
New Product development
Pricing
Promotion
Advertising
Mobilize your customer sales force
E-commerce and social media
Marketing channels
Marketing research
Implementing marketing
Marketing management
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THE MARKETING MIX
Questions and Assignments
1. Does your company operate a full ‘mix’ of controllable tactical marketing tools
product, price, place, promotion to produce the response it wants from the
target market?
2. Have you build a product or service based on a clear understanding your
customers’ wants and needs? Do you feel that your product or service will
‘create a customer’? Will it attract customers one by one with something each
one wants that is better and different?
3. Have you defined offerings as a combination of individual capabilities and
concentrated them on a specific industry to create a customised solution
rather than pigeon-holing customers into a product category
4. Have you considered that the price of you product or service is one part of the
cost to satisfy? Have to consider the cost of your customer of buying your
product? Driving to your shop? The cost of conscience? Could such
considerations move you away from strictly price based to value based
competition over the longer term?
5. When you consider place issues do you consider convenience? Have you
considered the internet, your product or service mix and diversification
through add on or complementary products as a place of convenience?
6. Is your company’s communications policy based on ‘give and take’? Do you
encourage customers to call you or search for their needs? Do you listen to
supporters and advocates that can help you build the next wave of products or
services?
7. Are these four elements integrated into a blend of activities that transform the
company’s marketing strategy into real value for customers?
8. The company develops product offers and creates strong brand identities for
customers? It prices these offers to create real customer value and distributes
the offers to make them available for target customers? It designs promotions
that communicate the value proposition to target customers and persuade
them to act on the market offering?
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BRAND AND IMAGE
Questions and Assignments
1. How far does the image and value of your brands help you achieve your
objectives? How do you think they are perceived by your customers and other
stakeholders? What actions should be taken to close any gap between the
image and the reality?
2. How well do you understand your brand(s)? Do you analyse them all be type
to identify core and extension areas for each one, using research as a guide?
3. How far do your promotional and personal selling activities support and
enhance the company’s brand image?
4. Are you aware of how well your brands names fit? Do you establish which
names can be used in combination, why and with what relative emphasis?
5. Can you stretch certain brand names? Are there attractive new market
segments and usages to enter without weakening the brand core?
6. When is the optimum time to develop new brand names? Are there
opportunities to develop new brand names for distinctive and superior new
products with which existing names do not fit well?
7. Can you license your brand name(s), trademarks and characters? Have you
thought that this might be a profitable means to generate extra profit? Have
you protected your brand names and symbols?
8 Do you have a brand development plan? Does it show the role and
development over the next five years? Do they incorporate any technological
changes that have taken place over the past five years
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NEW PRODUCT DEVELOPMENT
Questions and Assignments
1. Do you give priority to innovation – or to maintenance activity? Are
priorities set for individual product development projects? Do you have a
method to identify projects that offer breakthrough opportunity?
2. Do you constantly improve product acceptance and or reduce cost without
loss of quality? Are you able to develop new distinctive products that offer
more value and capture early-bird advantages?
3. Do you seek new benefits for your products or services? Do you look for
superior product benefits? Do you seek both technical product performance
as well as customers emotional and logical needs?
4. Do you look for small differences in performance areas that matter to
customers? When you cannot find areas to improve products or services do
you look for ways to reduce cost without impairing performance?
5. Do you monitor the lifecycle of your products or services? Do you seek new
opportunities to stretch and extend product line before ageing of established
products?
6. Do you develop new brand names selectively and when they are essential?
Are your old brand names standing the test of time?
7. What is your success rate like in new product development? Are you able to
avoid any of the following; unrealistic time schedules, frozen targets, vested
interest, and absorption in the new product development/improvement
process?
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PRICING
Questions and Assignments
1. Are you are of the price sensitivity of your brands and markets? Are you aware
of the influences of frequency of purchase, necessity, unit price and
comparability to price changes?
2. Are you able to buttress your price segments by strengthening your value
proposition to customers?
3. Do you have a clear strategy as to which price segments you wish to compete in
and why?
4. When considering the profitability of a change in price do you consider
alternatives? Could you consider holding price yet reduce promotional costs,
raise prices yet add a major service improvement, or reduce the weight, or alter
payment terms, or add free maintenance or technical assistance?
5. Are you able to minimise disruptive ripple effects by accurately establishing
your profit results for each major account by building strong relationships at
three or four levels, by responding to genuine trade needs and by establishing a
reputation for being prepared to bite the bullet?
6. Are you able guard against price cannibalisation? Can you minimise losses on
new products by creating a defensive plan, including aggressive pricing, giving
your new product gets extra space for the company and not borrow from
existing products, positioning in high end markets when moving down market
7. How do you respond to markets with falling prices? Do you leave them to
others or do you blend together strengths together to tackle them successfully?
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PROMOTION
Questions and Assignments
1. What is your view of promotion? Necessity? They give sales and service people
something to talk about? They will gain you some display space? If innovative,
well planned and executed they will have a measurable impact on business
performance
2. Do you have a strategy for promotion which sets out clear priorities? Or do you
operate with an inventory of ideas and the things you want to achieve for your
brand?
3. Is your strategy planned in outline by brand and month at least a year ahead,
firmed up six months ahead and be prepared four to eight weeks in advance of
D-Day?
4. Do you give promotion the same priority as advertising? How do your
competitors balance their priorities between promotion and advertising? Is
there an area where you can obtain an edge over your competitors with
innovative promotion?
5. Do your promotions carry appeal? Does your company invent or exploit
successful new promotional techniques and gain rewards due to innovation?
6. Can you uniquely exploit an ordinary promotion with originality and achieve
sales gains? How well do you plan and execute your promotional activities?
7 Do you research your promotions and analyse the results? Do you complete a
profit analysis of completes sales promotions?
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ADVERTISING
Questions and Assignments
1. Do you have crystal clear advertising strategies? Do you look for campaign
ideas rather than individual advertisements? Do your strategies communicate
aims,? Flow from the marketing strategy? Exploit a distinctive positioning?
Does your advertising stress either an emotional or functional benefit which is
important to the customer?
2. Do you insist on top quality in your products or services? Do you insist on
outstanding quality in your adverting?
3. Do you create a climate where creativity can flourish? Do you find that new
ideas are crushed in layers of presentations and tiers of approval? Do you allow
your advertising agents to innovate new ideas?
4. Do you assess advertising sympathetically or ruthlessly? How do you evaluate a
new advertising campaign? Do you put yourself into the shoes of your typical
customer and consider their perceptions of your product or service? Do you
consider what the customer will respond to the advertising?
5. Do you run successful campaigns into the long term? When thinking of change
do you consider the place your advertising occupies in the mind of your
customers and the damage that might be caused if you sought a different
approach? When you find a strong one do you improve and update it and stick
with it?
6. Are you ever satisfied with your advertising? Do you seek to upgrade and
develop advertising continuously?
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MOBILIZE YOUR CUSTOMER SALES FORCE
Questions and Assignments
1. Are your marketing efforts directlt related to profit? Do you feel that the more
money is wasted on advertising, direct mail and telemarketing?
2. Can you expect more from your customers than just you the privilege they
give you of serving them? Do you really believe that you have a ‘business’ with
your customers?
3. Have you considered whether your technical proficiency is more important to
customers than the happiness of your customers? Are you able to confirm the
quality of your product or service with ‘decisive non essential niceties’ that
prompt word-of-mouth?
4. Do you have a system for customer service? Ask your customers; ‘If you were
a prospective new customer again, what advice would you have about what
you would like from us?’ Do you operate other systems? Hospitality?
Courtesy? Leadership? Referral? Information? Word of Mouth? Are you able
to prevent problems for your customers?
5. How much are wonderful customers worth you? Do you operate word of
mouth programmes? What will motivate your customers to refer you to
potential A category customers? Can you create word of mouth? Curiosity?
Surprise value? Delight? Challenge?
6. Do you filter your customers into ABCD categories? A: valued customer; D:
rejecting customer? In which category do you apply most of your effort and
time?
7. What type of referral system do you have? Do you ask for referrals? Do you
reward customers for referrals? Do you educate customers that referrals are
a vital part of your business?
8. Do you and your people have the confidence to ask for more? How effective is
your business attractor? Do you help your customers to buy? Do you have a
clear, ongoing sales system with new offers and a ‘back-end’ of products or
services?
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E-COMMERCE AND SOCIAL MEDIA
Questions and Assignments
1. How is Information Communications Technology used in your company’s
marketing? Do your company’s marketing activities operate with a different set
of ICTs?
2. Are you able to derive competitive advantages by using the internet? Reducing
transaction costs? Reducing customer search costs? Developing better
relationships with customers and suppliers?
3. What trends influence greater efficiency and differentiation in your business?
Easier access to suppliers? Eliminate powerful channels? Improve bargaining
power over traditional channels? Reduce differences among competitors?
Reduce barriers to entry?
4. How doss digital marketing communications facilitate greater interactivity in
your business? Electronic word of mouth? Online communities?
5. How do the various social networking websites impact your business? Are you
able to enter or create brand communities to advance your brand? Role
models? Information exchange?
6. How effective is your E-mail marketing? Permission marketing? Viral
marketing for word of mouth?
7. How effective is your SEO. Are you maximising ‘paid searches’ How interactive
is your site?
8. What factors influence customer’s online shopping behaviour in your business?
Complex purchase processes? Ease of use and usefulness? Position in adoption
of innovation process? Transaction cost? Perceived risk
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MARKETING CHANNELS
Questions and Assignments
1. Do you regularly review your trade channel environment, your own future
plans and likely competitor moves?
2. Do you relate your business strengths to future distribution opportunities by
trade channel and by major account? Do you prioritise channels in which your
brand strengths can be established?
3. Does your organisational structure reflect your strategic channel priorities? Do
you tailor your products or services to channel needs Do you allocate costs and
profits by channel and major account?
4. Do you get results from trade promotions? Are you able to build strong brands
to offset the complexities of trade spending?
5. Do you operate processes to anticipate change in your channels and develop
new approaches to optimise channel penetration? Are you able to identify what
retailers want and work hard to be the superior and favoured supplier?
6. Does your company investigate channels that are unexploited by competitors?
Are there opportunities to make better use of new distribution opportunities
than existing competitors?
7. Do you analyse profitability by channel in order to get the right balance
between profit levels and volume growth?
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MARKETING RESEARCH
Questions and Assignments
1. Does your research improve the quality of information on which decisions are
made? Is market research viewed as a kind of ‘answer machine’ from which
judgement is rendered unnecessary? Could answers to problems be found just
by following general business principles and common sense?
2. Do you look for action from non-continuous ‘ad-hoc’ market research? Do you
consider how you will use the results of any market research project before it
starts? What action steps do you use to brief suppliers that conduct research
for you?
3. Do you make sure that you use processed and raw data that you have gathered
in your company from sales people, customers, QC? Has your company got
access to continuous research reflecting customer demand and competitor
activity?
4. Do rely exclusively on professionally conducted research to obtain firsthand
knowledge of customers? Do you combine this with informal customer contact
through market sensing methods to gain a good feel of customer preferences,
attitudes, needs and wants?
5. Do you or seek creativity in research identify and establish what customers
really think about a product or service? Do you encourage imaginative use of
research techniques to motivate interest and foster meaningful responses to
important matters such as new products, new usages, new features / benefits,
propensity to purchase, and new advertising?
6. What is your view of blind testing? Useful? It determines the extent of product
superiority over others? It helps decide whether a new product should be
brought to market, or not? It helps determine how much market support is
required for an existing product?
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IMPLEMENTING MARKETING!
Questions and Assignments
1. How is your marketing organised: Functional? Product or brand? Market?
Matrix? Is the company organised around customers or products? Does your
company generate new ideas that customers will perceive as having value?
2. Can your company create an organisation structure that is top down, bottom
up and side to side? Does top management empower team layers? People at
the customer interface are supported by top management? Marketers co-create
value for customers, the value chain and stakeholder interests?
3. Does your company try to make a difference in the world? Join with others to
make a difference in the world? Support a cause? Consider its social
commitment? Seek sustainability over the long term?
4. Is the company’s culture truly market driven? Is there a companywide passion
for marketing? Self managed teams and distributed leadership? Creative
problem solving? Entrepreneurial innovation? Crisis leadership? Change
centred leadership? An environment for creativity to flourish?
5. Has your company achieved a momentum effect? Does it sustain momentum
with a creative marketing approach? Does it spot opportunities for value
creation? Spot what customers want and working hard to provide it? Does it
focus on customer retention an life time value of customer rather than short
term revenue ‘ hits’?
6. Do you have a process for turning your marketing plan into specific actions and
assignments? Does it emphasise building strategy, tactics and implementation
together? Does it put the customer and customer value and how the company
can achieve its objectives?
7. What types of marketing control do you operate in your business? Annual-
plan control? Profitability control? Efficiency control? Strategic Control?
8. What do your marketing metrics do? Do they deliver financial and non-
financial data? Actual v forecast; customer behaviour (retention, acquisition,
usage) and attributes (awareness, satisfaction, perceived quality)? Marketing
productivity (counting, accounting, shareholder value, customer lifetime
value)?
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MARKETING MANAGEMENT...
Questions and Assignments
What is management? Customer perceived value, customer satisfaction and
long term growth? Profit? People? Operations?
What new trends are emerging that requires particular management skills?
People; knowledge is portable and is transported easily between companies?
Managing temporary and /outsourced labour and skills? Customers: customers
and consumers have more information and therefore power?
1. Is your understanding of marketing management under review? Is it shifting
from the company to customers, from products or services to benefits, from
relationships to the co-creation of value with business partners and customers?
2. What pressures impact the ability to impact business results? Emphasis on
short term revenues? Shifts in financial power, channel power, competition?
What has been the impact of these changes; declining marketing spends, brand
development, price maintenance, innovation, market power? Emphasis on
sales, account management
3. What skills do marketing managers require? Decision making under
uncertainty? Communication skills? Data collection and analysis? Strategic and
analytical thinking? Marketing-specific skills? Integrated marketing mix
management? Organisation management?
4. What skills will marketing require? ICT and digital technology exploitation
within marketing? Managing networks, relationships and interactions?
Information handling and management? Understanding and managing
change? Analytical and creative skills?
5. Manage within a global marketing environment? Deciding whether to go
abroad? Grow in developing markets? Counter attack global competitors in
their home markets? Entering supply chains that span the globe?
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SO, THERE YOU HAVE IT...
…the fundamentals of creating a unique marketing strategy and plan – and how to invent
viable new business opportunities.
In fact you've just gone through a ‘crash course’ on how to build and exploit a breakthrough
marketing strategy!
The key is to unite an offering of superior value to a targeted customer group, with an
efficient and distinctive means to create a fit between what the customer needs and what the
company does really well in the face of competition.
Let me put it another way! Let your targeted and distinctive offer be the brass and your game
plan be the gold! Blend the two metals in the refiners fire and what do you have? You will
bring into being rich Corinthian metal, fit to compare with the creative castings of other
market innovators that have created their own shining reputations in business.
CONCLUSION
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SOME EXTRAS
1. MANAGING BRANDS: HOW TO ACHIEVE
AND SUSTAIN MARKET LEARDERSHIP
Procter & Gamble [P&G) is one of the most skilful marketers of consumer of consumer
packaged goods, owning many household brands such as Olay, Pampers, Braun, Pantene,
Oral-B, Crest, and Gillette, to name but a few. The company’s scope and accomplishments
are staggering. It markets nearly 300 brands in more than 160m countries; is a global leader
in 7 of the 12 different product categories in which it competes; and has total worldwide sales
of more than e400b a year. Its sustained market leadership rests on a number of different
capabilities and philosophies:
1. Customer knowledge: P&G studies its customers – both end consumers and
channel members – through continuous marketing research and intelligence
gathering. It spends more than e100m annually on more than 10,000 formal
consumer research projects and generates more than 3 million consumer contacts via
its email and call centre. It also puts more emphasises on getting its researchers out
into the field, where they can interact with consumers and retailers in their natural
environment.
2. Long term outlook: P&G takes time to analyse each opportunity carefully and to
prepare the best product. It then commits to making this product a success. It
struggled with Pringles potatoes crisps for almost a decade before achieving market
success.
3. Product innovation: P&G is an active product innovator, devoting almost e2
billion (3.5 percent of sales) to research and development an impressively high
amount for a packaged goods company. It employs more PhDs than many
universities combined and applies for 3000 patents annually. Part of its innovation
process is developing brands that offer consumers new benefits. Recent examples
include Fabreze, an odour elimination fabric spray, and Mr Clean Magic Eraser, an
innovative cleaning sponge.
4. Product quality strategy: P&G designs products of above-average quality and
continuously improves them. When P&G says ·new and improved· it means it. Recent
examples include: Pantene Ice Shine shampoo, conditioner and styling gel; and
pampers BabyDry with Caterpillar Flex, a nappy designed to prevent leaks when
babies stomachs shrink at night.
5. Brand extension strategy: P&G produces its brands in several sizes and forms.
This re shelf space and prevents competitors from moving in to satisfy unmet needs.
P&G also uses its strong brand names to launch new products with instant
recognition and much less advertising outlay. The Mr Clean brand has been extended
from a household cleaner to a bathroom cleaner, and even to a car wash system. Old
Spice was successfully extended from men’s fragrances to deodorant. Old Spice has
toppled Right Guard to become the leading antiperspirant for men.
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6. Multibrand strategy: P&G markets several brands in the same product category
such as Luvs and Pampers nappies and Oral-B and Crest toothbrushes. Each brand
meets a different consumer desire and competes against specific competitors’ brands.
At the same time, P&G has begun to prune carefully to reduce its vast array of
products, sizes, flavours and varieties to assemble a stronger brand portfolio focused
on the best products.
7. Communication pioneer: P&G is one of the two top advertisers in the UK,
spending about £180 million. A pioneer in using the power of television to create
strong consumer awareness and preference, P&G is now taking a leading role in
building its brands on the Web and through other digital technologies. It is also
infusing stronger emotional appeals into its communications to create deeper
consumer connections.
8. Aggressive sales force: As part of its communication strategy P&G's sales force
has been named one of the top 25 sales forces by Sales & Marketing Management
magazine. A key to its success is the close ties its sales force forms with retailers
9. Manufacturing efficiency and cost cutting: P&G’s reputation as a great
marketing company has been matched by its excellence as a manufacturing company.
P&G spends large sums developing and improving production operations to keep its
costs among the lowest in the industry, allowing it to reduce the premium prices at
which some of its products sell.
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2. WHAT ARE THE 4 CS OF GOOD BUSINESS?
If you have studied marketing you’ll know all about the "Four P's" – even the “Seven P’s”.
Well you might be interested to know that an academic by the name of Bob Lauterborn, from
the University of North Carolina has caused us to head up the alphabet to C to reckon with
the “Four C’s” He believes that the Four P's should be replaced with his Four C's. “Why?”You
might ask. “Simple!” He says. “They aren’t working!”
Wow! The cheek of it! A challenge to a 60 year old guiding-light of marketing-thinking.
None-the-less it’s worth a peek. Lauterborn’s recommendations, expressed in broad terms,
are as follows:
1. First rather than Product our focus should be CONSUMER WANTS AND
NEEDS You can't develop products and then try to sell them to a mass market. You
have to study consumer wants and needs and then attract consumers one by one with
something each one wants that is better and different. The great writer and
consultant, Peter Drucker, insists on the same end when urging us to ‘create a
customer.’ In most cases, you have to find out what people want and then "build" the
product or service for them, their way.
Another C replacement for Product is Capable. By defining offerings as a
combination of individual capabilities and concentrating them on a specific industry,
creates a custom solution rather than pigeon-holing a customer into a product. Zara,
McDonalds and easyJet are examples.
2. Second COST to satisfy rather than Price You have to realize that price -
measured in sterling - is one part of the cost to satisfy. If you sell fish and chips, for
example, you have to consider the cost of your customer driving to your shop, the
cost of conscience of eating fat rich food, etc. One of the most difficult places to be in
the business world is the retailer selling at the lowest price. If you rely strictly on
price to compete you are vulnerable to competition - in the long term.
3. Third rather than Place consider the issue of CONVENIENCE to buy Why
is it important to think of convenience to buy instead of place? Well surely the answer
is rooted in knowing how each subset of the market prefers to buy - from the
Internet, from a catalogue, on the phone, with a credit card and so forth. Estée
Lauder, Amazon Books and Dell Computers are just a few businesses who do very
well over the Internet. Harrods, Tesco and IKEA are examples of stores that offer
convenience.
4. Fourth COMMUNICATION rather than Promotion Given that promotion is
essentially manipulative as it’s from the seller, the concept of communication
suggests an exchange of ideas between buyer and seller. Communication requires
‘give and take.’ Thus a more interactive approach can make any form of
communication more collaborative. The use phone numbers, web site address and so
forth all help. As does listening to your customers, particularly supporters and
advocates that can help you build the next wave of products and services.
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Building brand takes into account these considerations. Brand development is concerned
with crafting – and then delivering on - a promise. When you take into consideration the
"Four C’s" outlined above you begin the process of brand building!
So what are your conclusions? Are we being served with a dish of semantics? Or possibly a
salver of something new or a serving dish comprising a something old served as something
new? Well I’ll tell you what I think and you can tell me what you think! The ‘Four C’s’ model
is in fact a reiteration of the ‘Four P’s’ model, refined to be more customer-centric.
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3. MANAGING BRANDS: HOW TO ACHIEVE
AND SUSTAIN MARKET LEARDERSHIP
Procter & Gamble [P&G) is one of the most skilful marketers of consumer of consumer
packaged goods, owning many household brands such as Olay, Pampers, Braun, Pantene,
Oral-B, Crest, and Gillette, to name but a few. The company’s scope and accomplishments
are staggering. It markets nearly 300 brands in more than 160m countries; is a global leader
in 7 of the 12 different product categories in which it competes; and has total worldwide sales
of more than e400b a year. Its sustained market leadership rests on a number of different
capabilities and philosophies:
1. Customer knowledge: P&G studies its customers – both end consumers and channel
members – through continuous marketing research and intelligence gathering. It spends
more than e100m annually on more than 10,000 formal consumer research projects and
generates more than 3 million consumer contacts via its email and call centre. It also
puts more emphasises on getting its researchers out into the field, where they can
interact with consumers and retailers in their natural environment.
2. Long term outlook: P&G takes time to analyse each opportunity carefully and to prepare
the best product. It then commits to making this product a success. It struggled with
Pringles potatoes crisps for almost a decade before achieving market success.
3. Product innovation: P&G is an active product innovator, devoting almost e2 billion (3.5
percent of sales) to research and development an impressively high amount for a
packaged goods company. It employs more PhDs than many universities combined and
applies for 3000 patents annually. Part of its innovation process is developing brands
that offer consumers new benefits. Recent examples include Fabreze, an odour
elimination fabric spray, and Mr Clean Magic Eraser, an innovative cleaning sponge.
4. Product quality strategy: P&G designs products of above-average quality and
continuously improves them. When P&G says ·new and improved· it means it. Recent
examples include: Pantene Ice Shine shampoo, conditioner and styling gel; and pampers
BabyDry with Caterpillar Flex, a nappy designed to prevent leaks when babies stomachs
shrink at night.
5. Brand extension strategy: P&G produces its brands in several sizes and forms. This re
shelf space and prevents competitors from moving in to satisfy unmet needs. P&G also
uses its strong brand names to launch new products with instant recognition and much
less advertising outlay. The Mr Clean brand has been extended from a household cleaner
to a bathroom cleaner, and even to a car wash system. Old Spice was successfully
extended from men’s fragrances to deodorant. Old Spice has toppled Right Guard to
become the leading antiperspirant for men.
6. Multibrand strategy: P&G markets several brands in the same product category such as
Luvs and Pampers nappies and Oral-B and Crest toothbrushes. Each brand meets a
different consumer desire and competes against specific competitors’ brands. At the
same time, P&G has begun to prune carefully to reduce its vast array of products, sizes,
flavours and varieties to assemble a stronger brand portfolio focused on the best
products.
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7. Communication pioneer: P&G is one of the two top advertisers in the UK, spending about
£180 million. A pioneer in using the power of television to create strong consumer
awareness and preference, P&G is now taking a leading role in building its brands on the
Web and through other digital technologies. It is also infusing stronger emotional
appeals into its communications to create deeper consumer connections.
8. Aggressive sales force: As part of its communication strategy P&G's sales force has been
named one of the top 25 sales forces by Sales & Marketing Management magazine. A key
to its success is the close ties its sales force forms with retailers
9. Manufacturing efficiency and cost cutting: P&G’s reputation as a great marketing
company has been matched by its excellence as a manufacturing company. P&G spends
large sums developing and improving production operations to keep its costs among the
lowest in the industry, allowing it to reduce the premium prices at which some of its
products sell.
10. Brand-management system: P&G originated the brand-management system, in which
one executive is responsible for each brand. The system has been copied by many
competitors but not often with P&Gs success. Recently P&G modified its general
management structure so that each brand category is now run by a category manager
with volume and profit responsibility. Although this new organisation does not replace
the brand management system, it helps to sharpen focus on key consumer needs and
competition in the category.
It is easy to see that P&G’s success is based not on doing one thing well, but on successfully
orchestrating the myriad factors that contribute to its brand leadership.
Source: Marketing Management, (2009), Kotler, P; Keller, K.L; Brady, M; Goodman, M; &
Hansen,T; Prentice Hall
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4. CHARACTERISTICS OF A COMPANY ‘S
DEPARTMENTS THAT ARE TRULY
CUSTOMER DRIVEN
R&D • They spend time meeting customers and listening to their problems.
• They welcome the involvement of marketing, manufacturing and
other departments on each new project.
• They benchmark competitors' products and seek 'best of class'
solutions.
• They solicit customer reactions and suggestions as the project
progresses.
• They continuously improve and refine the product on the basis of
market feedback.
Purchasing • They proactively search for the best suppliers rather than choose only
from those who solicit their business by offering the lowest prices.
• They build long-term relationships with fewer but more reliable high-
quality suppliers, thereby developing a sustainable value chain.
Manufacturing • They invite customers to visit and tour their plants.
• They visit customer factories to see how they use the company's
products.
• They willingly work overtime when it is important to meet promised
delivery schedules.
• They continuously search for ways to produce goods faster and/or at
lower costs.
• They continuously improve product quality, aiming for zero defects.
• They meet customer requirements for 'customisation' where this can
be done profitably.
Marketing • They study customer needs and wants in well-defined market
segments.
• They allocate marketing effort in relation to the long-run profit
potential of the targeted segments.
• They develop winning offerings for each target segment.
• They measure company image and customer satisfaction on a
continuous basis.
• They continuously gather and evaluate ideas for new products,
product improvements and services to meet customers' needs.
• They influence all company departments and employees to be
customer centred in their thinking and practice
Sales • They have specialised knowledge of the customer's industry.
• They strive to give the customer 'the best solution'.
• They make only promises they can keep.
• They feed back customers' needs and ideas to those in charge of
product development.
• They serve the same customers for a long period of time.
Logistics • They set a high standard for service delivery time and they meet this
standard consistently.
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• They operate a knowledgeable and friendly customer-service
department that can answer questions, handle complaints and
resolve problems in a satisfactory and timely manner.
Accounting • They prepare periodic 'profitability' reports by product, market
segment, geographic areas (regions, territories), order sizes and
individual customers.
• They prepare invoices tailored to customer needs and answer
customer queries courteously and quickly.
Finance • They understand and support marketing expenditures (e.g., image
advertising) that represent marketing investments which produce
long-term customer preference and loyalty.
• They tailor the financial package to the customers' financial
requirements.
• They make quick decisions on customer creditworthiness,
Public
Relations
• They disseminate favourable news about the company and they
'damage control o unfavourable news.
• They act as an internal customer and public advocate for better
company policies and practices.
Other
customer
contact staff
• They are competent, courteous, cheerful, credible, reliable and
responsive.
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For further support
Call Andrew Pearson on 01280 844966 or
email andrew@coaching-business.co.uk
Andrew M Pearson
About Coaching Business
Andrew M Pearson NDA, Dip M, MBA is considered to be a prominent expert in the fields of
strategy, marketing and operations management. He tutors at Oxford Business School and is
also a visiting lecturer at Warwick University.
In addition to UK business school experience he has led and presented seminars and
workshops at business forums throughout the world. He has extensive experience as a
business coach, consultant and management speaker and has worked with managers and
management students in the UK, Europe, China and Libya. He focuses on issues of strategy
development, planning and implementation.
His publications include; How to Invent New Business and How to Build a Business that
Works Without You. A third volume, entitled The Strategic Manifesto, will follow in 2010.
Andrew set up his first business aged 25 and steered it to market leadership and a turnover
of £11m in 6 years. Since then, he’s held senior management and professorial posts at a
number of UK firms, including four years with Cargill, during which he founded pioneering
strategies for business development in Eastern Europe.
Clients include:
• A P Moller Terminals
• Andersons Consulting
• BALI (SE)
• Centaur Grain Ltd
• Channel Express Ltd
• Dart Plc
• Edexcel
• Everglade Windows Ltd
• Fowler Welch Ltd
• Hartley’s Nurseries Ltd
• LEAF
• Mack International Ltd
• Palmstead Nurseries Ltd
• Velcourt Ltd
Further E-books and coaching support:
• Transforming the Process of Going to Market
• Rejuvenating the Mature Business
• Challenging the rules of the game
• How to build a business that runs without you
• Customer Driven Market Change
• Creating Time to Think and Plan
• So You Think You Know Your Customers
For more information:
Please contact Andrew for a chat on 01280 844966
and for more information visit www.coaching-
business.co.uk

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The Marketing Planning Workbook

  • 1.
  • 2. 2 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk The Marketing Planning Workbook by Andrew Pearson COACHING BUSINESS
  • 3. 3 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk The Marketing Planning Workbook © Copyright 2012 Andrew M. Pearson ALL RIGHTS RESERVED. No part of this report may be reproduced or transmitted in any form whatsoever, electronic, or mechanical, including photocopying, recording, or by any informational storage or retrieval system without express written, dated and signed permission from the author. DISCLAIMER AND/OR LEGAL NOTICES: The information presented herein represents the view of the author as of the date of publication. Because of the rate with which conditions change, the author reserves the right to alter and update his opinion based on the new conditions. The report is for informational purposes only. Whilst every attempt has been made to verify the information provided in this report, neither the author nor his affiliates/partners assume any responsibility for errors, inaccuracies or omissions.
  • 4. 4 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk CONTENTS Page INTRODUCTION 5 BUSINESS REALITIES 6-13 MARKET STRATEGY 14-26 MARKETING TACTICS 27-39 CONCLUSION 40 SOME EXTRAS 41-48 ABOUT US 49 CONTENTS
  • 5. 5 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk Marketing checklists – love them or loath them, they are at the heart of management thinking and practice. And they serve two purposes. The first is to provide a framework to improve marketing performance. The second is to help managers and business owners with an easy to follow system for crafting today’s - and tomorrow’s - breakthrough marketing strategies and plans. ‘The Marketing Planning Workbook’ takes the reader through each of the key steps involved in developing a marketing plan in a clear, structured and practical way by answering the following key questions: • What is the big idea? The Business Realities • What are my objectives? The Market Strategy • How am I going to achieve them? The Marketing Tactics The workbook breaks down into three broad sections. The first; The Business Realities, is a health check, a series of questions that have always stimulated discussion amongst managers. The second, Market Strategy is concerned with the approach to achieving the company’s objectives. The third and final section concerns the Market ing tactics required to deliver the market strategy . Thus the checklists work from the essentials of business direction to delivery in straightforward language that cuts away the buzzwords and acronyms to show you things they don’t teach you in business schools about marketing! We hope you find ‘The Marketing Planning Workbook’ a useful addition to your current way of marketing planning INTRODUCTION
  • 6. 6 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk The Marketing Planning Workbook 1. BUSINESS REALITIES The business challenges How well are we doing? Opportunity, risk and innovation What we need to know competitors Playing to strengths Exploiting competitive advantages Key Success Factors
  • 7. 7 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk THE BUSINESS CHALLENGES Questions and Assignments 1. What problems is your company is currently facing. Given these problems, what actions should it be taking? 2. What is the company’s current knowledge area (core competence)? How can it leverage this specialisation in new products or new markets? What new competencies will it need to develop in the future? 3. What changes are taking place in the company’s industry? Given these changes, how should it respond? Are any new customer segments emerging that the company should be targeting? Are there any new customer needs that the company should aim to satisfy? 4. What criteria would the company use to decide whether a customer is "right" or "wrong" for the business? Apply these criteria to determine which customers it should to target and decide how to target them. 5. What business is the company really in? Are there any other possible definitions for the business? Explore the implications of defining it in the different ways have been identified. 6. What are the key success factors in the business? How are they changing? How should it respond to these changes? 7. What is the company’s real value-added? Why do customers buy from it? Why do they buy from its competitors? Given the changes taking place in the company’s industry, what will be its value added in the future? 8. Who are your company’s most threatening competitors? How are they playing the game? What would the company have to do to outperform its chief competitors?
  • 8. 8 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk HOW WELL ARE WE DOING? Questions and Assignments 1. What is the market for each of your company’s products or services by size, competitive intensity, and potential economic and innovating trends? How well are your company’s products or services performing by revenue contribution and by share of the cost burden in each? 2. How well are your company’s products or services performing by revenue contribution and by share of the cost burden? To what extent is the mix driven by toady’s breadwinners, tomorrow’s breadwinners, problem products or services and yesterdays breadwinners? 3. How well are your customers and channels performing by revenue contribution and by share of the cost burden? How are these changing by technology, customer expectations and values? 4. How effectively are financial and knowledge resources allocated to each product? Are they allocated to opportunities rather than to problems? To what extent is working capital and the marketing budget contributing to revenue? 5. To what extent are your company’s products or services leaders in your markets, customers and channels? Is – or can – leadership be based on price or quality (reliability, appearance, design, reputation etc)? 6. Does your company use transaction analysis to represent the cost structure of a market, product and customer
  • 9. 9 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk OPPORTUNITY, RISK AND INNOVATION Questions and Assignments 1. Is your company constantly attuned to spotting opportunities and means to exploit them through creativity and innovation? 2. What opportunities are available to your company? Can you spot them in additive, complementary and breakthrough openings, new means of production, new channels, new or improved services, relationship building and communications methods? 3. How do you identify opportunities? Do you spot them from problem analysis, customer proposals, creative groups, market mapping, features stretching, features blending and stretch techniques? 4. Do you screen and select opportunities by size, investment need, return and risk? 5. When you evaluate an opportunity is risk evaluated on the basis of one you can afford to take, one that you cannot afford to take or one that you cannot afford not to take? 6. How effective are your innovation processes? Are you able to generate new ways to meet changing customer needs and different ways of doing things through your knowledge of customer needs, technology knowledge to produce the products or services required and through your capability to do what you do even better?
  • 10. 10 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk WHAT DO WE KNOW ABOUT OUR COMPETITORS? Questions and Assignments 1. Who are your competitors? Now? Five years from now? What factors could cause changes in the identity of your competitors? Acquisitions? Deregulation? Import penetration? Channels? New technology? Raw materials? Legislation? 2. What are your competitors’ investment priorities? Goals and objectives? What is their market standing? What are their assumptions about the market? Industry? 3. How important is your specific market(s) to each of your competitors? What is the level of their commitment? Do you therefore know what effort each competitor is likely to make to defend or improve its position in your market(s)? 4. What are your competitor’s strengths and limitations? In what respect is each one better or worse that you are? What if its strategies are working and which are not? Is it usually safe to assume that the former will be continued and the latter changed? 5. What weaknesses make a competitor vulnerable? Are they to do with cash, margin, growth, operations and distribution coasts, overdependence on one market or one customer, people? Can you attack them with your strongest forces at their weakest point? 6. What changes are competitors like to make in their future strategies? Are they seeking strong investment candidates (stars) or cash cows? 7. What effects will your competitors’ strategies have on the industry on the market and on your strategy?
  • 11. 11 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk PLAYING TO STRENGTHS Questions and Assignments 1. Does your business specialise in an area in which it leads? Does this area of specialisation (or competence) integrate business activities into one knowledge or one market? 2. Can this knowledge area be enhanced to give your company a unique lead and enable it to diversify? 3. Is your company diversified in products and markets and highly concentrated in its business knowledge area or is it diversified in its knowledge area and highly concentrated in its products and markets? 4. Do you think your company obtains the most from its specialisation 5. Could your company’s specialization and knowledge area enable it to diversify into complementary and breakthrough opportunities to create additional unique strategic positions? 6. Could your business capitalize on time and productivity gains by acquiring or enhancing its specialist knowledge by buying business, rather than building business to achieve its goals in additive, complementary and breakthrough opportunities? 7. Does your company’s strategy follow organisation structure decisions or does its organisational structure follow its strategy making decisions?
  • 12. 12 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk EXPLOITING COMPETITIVE ADVANTAGES Questions and Assignments 1. What does your company offer the market place that is unique and valuable? How will that offer be maintained? How will it be protected from imitation buys competitors? What is the source of that competitive advantage? 2. Does your company’s competitive advantage based on better value for money that comes from lower prices? Does it come from differentiating the offer through performance features, service, branding and brand image and access to distribution? 3. Does your competitive advantage derive from its value chain, reputation or its strategic assets or a combination of all? 4. Does competitive advantage flow from lower input costs, economies of scale, experience curve effects or technological innovation or a combination of all? 5. Does your business possess advantages in its product, market or technical knowledge or a combination of all? 6. Does your competitive advantage from relationships with your customers, suppliers, investors and employees? 7. Does competitive advantage flow from structural success? Does it come from your company’s culture, capabilities and activity systems? 8. Can your company exploit and sustain competitiveness in each of the aforementioned areas?
  • 13. 13 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk KEY FACTORS FOR SUCCESS Questions and Assignments 1. Do you plot the Key Success Factors (KSFs) in your business? What handful of KSFs are the important ones? 2. Do they show you how well equipped you are to compete in them? Do they show you priority areas for building competitive advantage? 3. What are the largest areas of cost in your business? Advertising and packaging? Materials and labour? Equipment and stock? Others? 4. What have been the reasons for success or failure amongst competitors? Wide or narrow product range? Relationships with key customers? Others? 5. Which areas of the business is it possible to build competitive advantage? Price? Differentiation through wide distribution, strong relationships, advertising, product features and quality? 6. Have KSFs in your business changed over time? Do you anticipate change? Do they pose a threat or an opportunity? 7. Are you able to change the nature of KSFs in your business by innovation?
  • 14. 14 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk The Marketing Planning Workbook 2. MARKET STRATEGY An ‘offensive approach’ Business purpose Vision and mission Market objectives Market standing Market strategy Offensive strategies for exploiting competitive advantages Create a customer or two! Something of value that’s different! Gaining commitment Structure activities and capability Marketing planning
  • 15. 15 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk AN ‘OFFENSIVE’ APPROACH Questions and Assignments 1. Vision and purpose? 2. A strong commitment to providing superior value to customers, backed by a low cost operation? 3. A strong emphasis on innovation throughout the business, both ‘daily trickle’ and ‘big bang’, in the right balance for the industry. Stress on technology, support, recognition and reward for successful innovators. Structure where innovation can flourish? 5. An ability to achieve required short term results, combined with a strong focus on long term objectives? 6. Commitment to continued investment in all assets, like brands, people, new products and equipment, even when faced by strong short term pressures? 7. Overall focus on attacking competition, but at carefully chosen times and places? 8. Fast, good quality response to new opportunities or competitive threats
  • 16. 16 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk BUSINESS PURPOSE Questions and Assignments 1 What is your business? Are you responsible for the answer – or is someone else? 2 Is your company’s business purpose defined by the company name or by the want the customer satisfies when he buys your product or service? 3 Does your company raise and study this question when the business is successful and at its inception? 4 What does your customer see, think, believe and want from your product or service? 5 Who is the actual and the potential customer? Where is he? How does he buy? How can he be reached? 6 What does the customer buy? Why does he buy your product or service? Why does he buy from your competitors? 7. What does the customer value? What does he look for when he buys? Is price one of a number of considerations and only a part of value? 8 What will be your business? What is your market’s potential and trends? What changes in market structure are to be expected? What innovations will change customer wants? What wants do customers have that are not adequately satisfied by the products and services offered to him today?
  • 17. 17 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk VISION AND MISSION Questions and Assignments 1. Imagine a time three years from now. You are in New York on a long weekend break. You want to send a postcard home or to the office explaining where you are, what you are doing, how well the business is doing well and what you have achieved for your stakeholders – what would you write – and see how close you have come to achieving your vision and mission? 2. Does your vision statement offer a picture of a more valuable world, convey leadership and communicate what you wish it to achieve for your stakeholders? 3. Does your mission statement define the nature of your business, what it aims to do achieve and how it aims to achieve it? 5. Does your company have either? 6. What would you do to set out to create / improve your vision statement? Does it convey the value you have created and show how those involved will gain and be better off? 7. Does your mission statement convey news of the benefits offered by your products and services to meet the needs of your customers? Does it show the innovation and the sources of competitive advantage your company is based on?
  • 18. 18 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk MARKETING OBJECTIVES Questions and Assignments 1. Do your company’s objectives set targets for growth, product penetration/development, market development, position relative to competitors? 2. In what ways can you add customers, increase their average spend and increase their frequency of purchase? 3. Are your company’s objectives for growth consistent with its area of knowledge and capabilities, ability to attract new resources and approach to risk? 4. Do you set innovation goals for new and improved products and services to achieve marketing objectives, technological changes to replace obsolete products, new production processes to attain pricing objectives and systems to enhance planning, activity and implementation to keep up with advances in knowhow and skill? 5. Are your people clear about their objectives for performance and the plans through which they will be attained? Who sets these objectives and how are they set? 6. Are these targets specific? Do they reflect targets to be accomplished, time defined for achieving results, challenging and attainable and measureable? 7. What steps are taken to ensure that your managers and people succeed in delivering their objectives?
  • 19. 19 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk MARKET STANDING Questions and Assignments 1. What is the required standing of your company’s existing products in their existing markets, in revenue and percentage of the market, measured against direct and indirect competition? 2. What is the required standing of your company’s existing products in new markets, in revenue and percentage of the market, measured against direct and indirect competition? 3. What existing products that should be discarded – for technological reasons and market trends, to improve the product mix or following decisions to change the purpose of the business? 4. What new products are needed in existing markets – in terms of the number of products, their properties, and revenue and market share potential? 5. What new markets that new products should develop planned– in revenue and percentage terms? 6. Does the company’s distributive organisation achieve the marketing goals and pricing policy appropriate to them? 7. Does your company’s s service objective measure how well the customer should be supplied with what he considers value by the company, its products, sales and service organisation? Does it deliver customer loyalty and satisfaction? Is service performance carried out independently?
  • 20. 20 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk MARKET STRATEGY Questions and Assignments 1. Does the market strategy define the actions your company needs to take to pursue its business objectives? 2. Does the content of the market strategy fully define the products to be offered, the markets to be targeted and the approaches required to compete? 3. Is the strategy content consistent with the vision and mission defined by the business? 4. What generic entry positioning strategies and competitive approaches are adopted to establish offers of new value in the market place? 5. How effective is the strategy process in defining the way decisions are made about strategy content? Does it consider the company’s future, how it selects its goals and the way resources are allocated to achieve them? 6. Is the strategy process embedded in the structure, systems and processes that the firm adopts as well as the culture and leadership style of the business? 7. What decisions are made to control the strategy process?
  • 21. 21 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk OFFENSIVE STRATEGIES FOR EXPLOITING COMPETITIVE ADVANTAGES Questions and Assignments 1. Head on strategies to drive back / overwhelm a competitor? Strong products, heavy market support and well financed? 2. Flanking strategies to attack a competitor’s weakness with your strongest forces and invalidate rival’s product or service? Price (high or low)? Enter neglected segments? Product innovation? 3. Concentrate on niche product distinctive segments? Attractive to you but not to competitors? Collect premium prices? Low scale economies? Above average profit margins? 4. Guerrilla strategy? Surprise? Tactical flexibility? Make selective attacks to harass competitor’s weaker products with ‘fighting brands’? Invalidate competitor’s new or improved products or services with ‘fighting brands’?? 5. Market saturation- encirclement? A wide range of product or services? Absorb high proportion of stock and display space? 6. Regional concentration? Brand leadership in miniature? Local market knowledge and reputation? 7. Product concentration? Limited range of power brands? Strongly advertised? Very efficiently produced in high volume?
  • 22. 22 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk CREATE A CUTOMER OR TWO! Questions and Assignments 1. What do your customers need / want? 2. Is there a danger you are actually telling them that they need you? 3. What are your customers’ current priorities? Remember you may have several different types of customer buying your products and services right now! 4. Can you define them by who they are, what they buy and why they buy? 5. What feedback are you getting to pinpoint/establish the value your customers seek? How often do you do this? 6. Are there gaps in your market? What customer groups are not being served that could be being served that you should be developing? 7. Are there any new needs or priorities on the horizon that you should be attending to?
  • 23. 23 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk SOMETHING OF VALUE THAT’S DIFFERENT! Questions and Assignments 1. What understanding do you have of the criteria by which buyers distinguish among different products/services on offer and the extent to which they consider them substitutable? 2. What factors are important to buyers? What importance do your buyers attaché to these factors; price, perceived quality, demographic imagery, performance, the number and type of features, brand imagery, service and support, attitudes to suppliers? 3. An effective proposition of value – or market positioning - guides product/ service development and avoids head on competition. Does your company have a proposition of value? 4. What value proposition do you offer your customer groups? Does it offer customers more value relative to your competitors? Does it give you competitive space? 5. What is the basis of your value proposition(s)? Does it add value for customers? Does it target specific customer segments? Does it address the needs of these segments? Does it offer means, or technology, to address these needs? 6. How often do you gather information to help you test the efficacy of your market positioning and value proposition to make sure that you are fully engaging with your customers?
  • 24. 24 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk GAINING COMITMENT Questions and Assignments 1. An understanding of the networks your business operates in is important. Does your company have effective relationships with stakeholders and third parties? Does it mange its relationships with these to increase the overall value to those in the network? 2. Does your company have strong relationships with its suppliers? Can you build strong relationships with your competitors suppliers of who may see your established and new products as a threat to their business? 3. Do your company’s products genuinely satisfy customers, needs, solve their problems and meet their aspirations? Does your selling effort enable you to cause your potential and existing customers to buy your products / services? Know where your customer groups congregate? Does your company create rewarding personal and organisational relationships with its customers? 4. Do your company’s distributors create economic value for your business? Is your company able to fulfil the needs of its distributors; which include; The margin, rate of sale and cost of storage of your product / service? 5. Are the people employed by your company committed to it? Are your people sufficiently customer led? Are they able to deliver the personal and organisational relationships required by all the company’s stakeholders? 6. Is your company aware of how to approach investment backers and how investors select investment opportunities? Are you aware of the questions investors need answering?
  • 25. 25 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk STRUCTURE, ACTIVITY AND CAPABILITY Questions and Assignments 1. Does your company operate with the optimal value chain? Does it have the appropriate functional policies? 2. Given the market company is in, do you feel that your company has designed and developed a well balanced activity system to pursue its strategy? 3. Have these activities been combined into a system that creates the requisite fit between the needs of the market and the actions taken by the company? What happens if your market changes? Do you ensure that the activity system creates the requisite fit? 4. Does the activity system fit the ones demanded by the market? Do they fit together like a jig-saw to form a collective fit with the market and balance one another over time? 5. Is your company’s competitive positioning based on performing activities differently, or is it choosing to perform different activities from those of your competitors? 6. Has your company developed internal variety that will allow it to develop capabilities even before it knows what competencies are required? 7. Has it developed a culture of change? Has it institutionalised continual innovation?
  • 26. 26 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk MARKETING PLANNING Questions and Assignments 1. Does your company have a fixation with excellent tactics at the expense of strategy? Does your company have a two to three year strategic plan? Tactical plans for one year of less? 2. Does your have a formalised system for marketing planning? Is there active internal support for it from the CEO? Does marketing and marketing planning benefit from line management support and skills? 3. How would you describe your company’s marketing planning system? What are the good points and the bad things about it? How could it be improved? Do you use techniques to structure an influential marketing plan? 4. Is there an awareness of lost market opportunities and or serious environmental and competitive conditions due to unpreparedness and real confusion over what to do about this? Is here a understanding of how to make the business more responsive in the face of opportunity and uncertainty? 5. Is there a deep understanding of what the company can do better than its competitors? How its distinctive competence can b matched with the needs of certain customer groups? 6. Does your company’s marketing planning system result in excessive detail? Does it ask for essential data to intellectualise over future choices? Does it place great emphasis on underlying thinking behind objectives and strategies 7. Does longer term planning determine difficult choices between the emphasis to be placed on commercial operation and the development of the business? Are longer terms projections separate from shorter term planning activities that take the form of forecasting and budgeting?
  • 27. 27 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk The Marketing Planning Workbook 3. MARKETING TACTICS The Marketing Mix Brand and image New Product development Pricing Promotion Advertising Mobilize your customer sales force E-commerce and social media Marketing channels Marketing research Implementing marketing Marketing management
  • 28. 28 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk THE MARKETING MIX Questions and Assignments 1. Does your company operate a full ‘mix’ of controllable tactical marketing tools product, price, place, promotion to produce the response it wants from the target market? 2. Have you build a product or service based on a clear understanding your customers’ wants and needs? Do you feel that your product or service will ‘create a customer’? Will it attract customers one by one with something each one wants that is better and different? 3. Have you defined offerings as a combination of individual capabilities and concentrated them on a specific industry to create a customised solution rather than pigeon-holing customers into a product category 4. Have you considered that the price of you product or service is one part of the cost to satisfy? Have to consider the cost of your customer of buying your product? Driving to your shop? The cost of conscience? Could such considerations move you away from strictly price based to value based competition over the longer term? 5. When you consider place issues do you consider convenience? Have you considered the internet, your product or service mix and diversification through add on or complementary products as a place of convenience? 6. Is your company’s communications policy based on ‘give and take’? Do you encourage customers to call you or search for their needs? Do you listen to supporters and advocates that can help you build the next wave of products or services? 7. Are these four elements integrated into a blend of activities that transform the company’s marketing strategy into real value for customers? 8. The company develops product offers and creates strong brand identities for customers? It prices these offers to create real customer value and distributes the offers to make them available for target customers? It designs promotions that communicate the value proposition to target customers and persuade them to act on the market offering?
  • 29. 29 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk BRAND AND IMAGE Questions and Assignments 1. How far does the image and value of your brands help you achieve your objectives? How do you think they are perceived by your customers and other stakeholders? What actions should be taken to close any gap between the image and the reality? 2. How well do you understand your brand(s)? Do you analyse them all be type to identify core and extension areas for each one, using research as a guide? 3. How far do your promotional and personal selling activities support and enhance the company’s brand image? 4. Are you aware of how well your brands names fit? Do you establish which names can be used in combination, why and with what relative emphasis? 5. Can you stretch certain brand names? Are there attractive new market segments and usages to enter without weakening the brand core? 6. When is the optimum time to develop new brand names? Are there opportunities to develop new brand names for distinctive and superior new products with which existing names do not fit well? 7. Can you license your brand name(s), trademarks and characters? Have you thought that this might be a profitable means to generate extra profit? Have you protected your brand names and symbols? 8 Do you have a brand development plan? Does it show the role and development over the next five years? Do they incorporate any technological changes that have taken place over the past five years
  • 30. 30 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk NEW PRODUCT DEVELOPMENT Questions and Assignments 1. Do you give priority to innovation – or to maintenance activity? Are priorities set for individual product development projects? Do you have a method to identify projects that offer breakthrough opportunity? 2. Do you constantly improve product acceptance and or reduce cost without loss of quality? Are you able to develop new distinctive products that offer more value and capture early-bird advantages? 3. Do you seek new benefits for your products or services? Do you look for superior product benefits? Do you seek both technical product performance as well as customers emotional and logical needs? 4. Do you look for small differences in performance areas that matter to customers? When you cannot find areas to improve products or services do you look for ways to reduce cost without impairing performance? 5. Do you monitor the lifecycle of your products or services? Do you seek new opportunities to stretch and extend product line before ageing of established products? 6. Do you develop new brand names selectively and when they are essential? Are your old brand names standing the test of time? 7. What is your success rate like in new product development? Are you able to avoid any of the following; unrealistic time schedules, frozen targets, vested interest, and absorption in the new product development/improvement process?
  • 31. 31 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk PRICING Questions and Assignments 1. Are you are of the price sensitivity of your brands and markets? Are you aware of the influences of frequency of purchase, necessity, unit price and comparability to price changes? 2. Are you able to buttress your price segments by strengthening your value proposition to customers? 3. Do you have a clear strategy as to which price segments you wish to compete in and why? 4. When considering the profitability of a change in price do you consider alternatives? Could you consider holding price yet reduce promotional costs, raise prices yet add a major service improvement, or reduce the weight, or alter payment terms, or add free maintenance or technical assistance? 5. Are you able to minimise disruptive ripple effects by accurately establishing your profit results for each major account by building strong relationships at three or four levels, by responding to genuine trade needs and by establishing a reputation for being prepared to bite the bullet? 6. Are you able guard against price cannibalisation? Can you minimise losses on new products by creating a defensive plan, including aggressive pricing, giving your new product gets extra space for the company and not borrow from existing products, positioning in high end markets when moving down market 7. How do you respond to markets with falling prices? Do you leave them to others or do you blend together strengths together to tackle them successfully?
  • 32. 32 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk PROMOTION Questions and Assignments 1. What is your view of promotion? Necessity? They give sales and service people something to talk about? They will gain you some display space? If innovative, well planned and executed they will have a measurable impact on business performance 2. Do you have a strategy for promotion which sets out clear priorities? Or do you operate with an inventory of ideas and the things you want to achieve for your brand? 3. Is your strategy planned in outline by brand and month at least a year ahead, firmed up six months ahead and be prepared four to eight weeks in advance of D-Day? 4. Do you give promotion the same priority as advertising? How do your competitors balance their priorities between promotion and advertising? Is there an area where you can obtain an edge over your competitors with innovative promotion? 5. Do your promotions carry appeal? Does your company invent or exploit successful new promotional techniques and gain rewards due to innovation? 6. Can you uniquely exploit an ordinary promotion with originality and achieve sales gains? How well do you plan and execute your promotional activities? 7 Do you research your promotions and analyse the results? Do you complete a profit analysis of completes sales promotions?
  • 33. 33 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk ADVERTISING Questions and Assignments 1. Do you have crystal clear advertising strategies? Do you look for campaign ideas rather than individual advertisements? Do your strategies communicate aims,? Flow from the marketing strategy? Exploit a distinctive positioning? Does your advertising stress either an emotional or functional benefit which is important to the customer? 2. Do you insist on top quality in your products or services? Do you insist on outstanding quality in your adverting? 3. Do you create a climate where creativity can flourish? Do you find that new ideas are crushed in layers of presentations and tiers of approval? Do you allow your advertising agents to innovate new ideas? 4. Do you assess advertising sympathetically or ruthlessly? How do you evaluate a new advertising campaign? Do you put yourself into the shoes of your typical customer and consider their perceptions of your product or service? Do you consider what the customer will respond to the advertising? 5. Do you run successful campaigns into the long term? When thinking of change do you consider the place your advertising occupies in the mind of your customers and the damage that might be caused if you sought a different approach? When you find a strong one do you improve and update it and stick with it? 6. Are you ever satisfied with your advertising? Do you seek to upgrade and develop advertising continuously?
  • 34. 34 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk MOBILIZE YOUR CUSTOMER SALES FORCE Questions and Assignments 1. Are your marketing efforts directlt related to profit? Do you feel that the more money is wasted on advertising, direct mail and telemarketing? 2. Can you expect more from your customers than just you the privilege they give you of serving them? Do you really believe that you have a ‘business’ with your customers? 3. Have you considered whether your technical proficiency is more important to customers than the happiness of your customers? Are you able to confirm the quality of your product or service with ‘decisive non essential niceties’ that prompt word-of-mouth? 4. Do you have a system for customer service? Ask your customers; ‘If you were a prospective new customer again, what advice would you have about what you would like from us?’ Do you operate other systems? Hospitality? Courtesy? Leadership? Referral? Information? Word of Mouth? Are you able to prevent problems for your customers? 5. How much are wonderful customers worth you? Do you operate word of mouth programmes? What will motivate your customers to refer you to potential A category customers? Can you create word of mouth? Curiosity? Surprise value? Delight? Challenge? 6. Do you filter your customers into ABCD categories? A: valued customer; D: rejecting customer? In which category do you apply most of your effort and time? 7. What type of referral system do you have? Do you ask for referrals? Do you reward customers for referrals? Do you educate customers that referrals are a vital part of your business? 8. Do you and your people have the confidence to ask for more? How effective is your business attractor? Do you help your customers to buy? Do you have a clear, ongoing sales system with new offers and a ‘back-end’ of products or services?
  • 35. 35 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk E-COMMERCE AND SOCIAL MEDIA Questions and Assignments 1. How is Information Communications Technology used in your company’s marketing? Do your company’s marketing activities operate with a different set of ICTs? 2. Are you able to derive competitive advantages by using the internet? Reducing transaction costs? Reducing customer search costs? Developing better relationships with customers and suppliers? 3. What trends influence greater efficiency and differentiation in your business? Easier access to suppliers? Eliminate powerful channels? Improve bargaining power over traditional channels? Reduce differences among competitors? Reduce barriers to entry? 4. How doss digital marketing communications facilitate greater interactivity in your business? Electronic word of mouth? Online communities? 5. How do the various social networking websites impact your business? Are you able to enter or create brand communities to advance your brand? Role models? Information exchange? 6. How effective is your E-mail marketing? Permission marketing? Viral marketing for word of mouth? 7. How effective is your SEO. Are you maximising ‘paid searches’ How interactive is your site? 8. What factors influence customer’s online shopping behaviour in your business? Complex purchase processes? Ease of use and usefulness? Position in adoption of innovation process? Transaction cost? Perceived risk
  • 36. 36 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk MARKETING CHANNELS Questions and Assignments 1. Do you regularly review your trade channel environment, your own future plans and likely competitor moves? 2. Do you relate your business strengths to future distribution opportunities by trade channel and by major account? Do you prioritise channels in which your brand strengths can be established? 3. Does your organisational structure reflect your strategic channel priorities? Do you tailor your products or services to channel needs Do you allocate costs and profits by channel and major account? 4. Do you get results from trade promotions? Are you able to build strong brands to offset the complexities of trade spending? 5. Do you operate processes to anticipate change in your channels and develop new approaches to optimise channel penetration? Are you able to identify what retailers want and work hard to be the superior and favoured supplier? 6. Does your company investigate channels that are unexploited by competitors? Are there opportunities to make better use of new distribution opportunities than existing competitors? 7. Do you analyse profitability by channel in order to get the right balance between profit levels and volume growth?
  • 37. 37 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk MARKETING RESEARCH Questions and Assignments 1. Does your research improve the quality of information on which decisions are made? Is market research viewed as a kind of ‘answer machine’ from which judgement is rendered unnecessary? Could answers to problems be found just by following general business principles and common sense? 2. Do you look for action from non-continuous ‘ad-hoc’ market research? Do you consider how you will use the results of any market research project before it starts? What action steps do you use to brief suppliers that conduct research for you? 3. Do you make sure that you use processed and raw data that you have gathered in your company from sales people, customers, QC? Has your company got access to continuous research reflecting customer demand and competitor activity? 4. Do rely exclusively on professionally conducted research to obtain firsthand knowledge of customers? Do you combine this with informal customer contact through market sensing methods to gain a good feel of customer preferences, attitudes, needs and wants? 5. Do you or seek creativity in research identify and establish what customers really think about a product or service? Do you encourage imaginative use of research techniques to motivate interest and foster meaningful responses to important matters such as new products, new usages, new features / benefits, propensity to purchase, and new advertising? 6. What is your view of blind testing? Useful? It determines the extent of product superiority over others? It helps decide whether a new product should be brought to market, or not? It helps determine how much market support is required for an existing product?
  • 38. 38 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk IMPLEMENTING MARKETING! Questions and Assignments 1. How is your marketing organised: Functional? Product or brand? Market? Matrix? Is the company organised around customers or products? Does your company generate new ideas that customers will perceive as having value? 2. Can your company create an organisation structure that is top down, bottom up and side to side? Does top management empower team layers? People at the customer interface are supported by top management? Marketers co-create value for customers, the value chain and stakeholder interests? 3. Does your company try to make a difference in the world? Join with others to make a difference in the world? Support a cause? Consider its social commitment? Seek sustainability over the long term? 4. Is the company’s culture truly market driven? Is there a companywide passion for marketing? Self managed teams and distributed leadership? Creative problem solving? Entrepreneurial innovation? Crisis leadership? Change centred leadership? An environment for creativity to flourish? 5. Has your company achieved a momentum effect? Does it sustain momentum with a creative marketing approach? Does it spot opportunities for value creation? Spot what customers want and working hard to provide it? Does it focus on customer retention an life time value of customer rather than short term revenue ‘ hits’? 6. Do you have a process for turning your marketing plan into specific actions and assignments? Does it emphasise building strategy, tactics and implementation together? Does it put the customer and customer value and how the company can achieve its objectives? 7. What types of marketing control do you operate in your business? Annual- plan control? Profitability control? Efficiency control? Strategic Control? 8. What do your marketing metrics do? Do they deliver financial and non- financial data? Actual v forecast; customer behaviour (retention, acquisition, usage) and attributes (awareness, satisfaction, perceived quality)? Marketing productivity (counting, accounting, shareholder value, customer lifetime value)?
  • 39. 39 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk MARKETING MANAGEMENT... Questions and Assignments What is management? Customer perceived value, customer satisfaction and long term growth? Profit? People? Operations? What new trends are emerging that requires particular management skills? People; knowledge is portable and is transported easily between companies? Managing temporary and /outsourced labour and skills? Customers: customers and consumers have more information and therefore power? 1. Is your understanding of marketing management under review? Is it shifting from the company to customers, from products or services to benefits, from relationships to the co-creation of value with business partners and customers? 2. What pressures impact the ability to impact business results? Emphasis on short term revenues? Shifts in financial power, channel power, competition? What has been the impact of these changes; declining marketing spends, brand development, price maintenance, innovation, market power? Emphasis on sales, account management 3. What skills do marketing managers require? Decision making under uncertainty? Communication skills? Data collection and analysis? Strategic and analytical thinking? Marketing-specific skills? Integrated marketing mix management? Organisation management? 4. What skills will marketing require? ICT and digital technology exploitation within marketing? Managing networks, relationships and interactions? Information handling and management? Understanding and managing change? Analytical and creative skills? 5. Manage within a global marketing environment? Deciding whether to go abroad? Grow in developing markets? Counter attack global competitors in their home markets? Entering supply chains that span the globe?
  • 40. 40 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk SO, THERE YOU HAVE IT... …the fundamentals of creating a unique marketing strategy and plan – and how to invent viable new business opportunities. In fact you've just gone through a ‘crash course’ on how to build and exploit a breakthrough marketing strategy! The key is to unite an offering of superior value to a targeted customer group, with an efficient and distinctive means to create a fit between what the customer needs and what the company does really well in the face of competition. Let me put it another way! Let your targeted and distinctive offer be the brass and your game plan be the gold! Blend the two metals in the refiners fire and what do you have? You will bring into being rich Corinthian metal, fit to compare with the creative castings of other market innovators that have created their own shining reputations in business. CONCLUSION
  • 41. 41 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk SOME EXTRAS 1. MANAGING BRANDS: HOW TO ACHIEVE AND SUSTAIN MARKET LEARDERSHIP Procter & Gamble [P&G) is one of the most skilful marketers of consumer of consumer packaged goods, owning many household brands such as Olay, Pampers, Braun, Pantene, Oral-B, Crest, and Gillette, to name but a few. The company’s scope and accomplishments are staggering. It markets nearly 300 brands in more than 160m countries; is a global leader in 7 of the 12 different product categories in which it competes; and has total worldwide sales of more than e400b a year. Its sustained market leadership rests on a number of different capabilities and philosophies: 1. Customer knowledge: P&G studies its customers – both end consumers and channel members – through continuous marketing research and intelligence gathering. It spends more than e100m annually on more than 10,000 formal consumer research projects and generates more than 3 million consumer contacts via its email and call centre. It also puts more emphasises on getting its researchers out into the field, where they can interact with consumers and retailers in their natural environment. 2. Long term outlook: P&G takes time to analyse each opportunity carefully and to prepare the best product. It then commits to making this product a success. It struggled with Pringles potatoes crisps for almost a decade before achieving market success. 3. Product innovation: P&G is an active product innovator, devoting almost e2 billion (3.5 percent of sales) to research and development an impressively high amount for a packaged goods company. It employs more PhDs than many universities combined and applies for 3000 patents annually. Part of its innovation process is developing brands that offer consumers new benefits. Recent examples include Fabreze, an odour elimination fabric spray, and Mr Clean Magic Eraser, an innovative cleaning sponge. 4. Product quality strategy: P&G designs products of above-average quality and continuously improves them. When P&G says ·new and improved· it means it. Recent examples include: Pantene Ice Shine shampoo, conditioner and styling gel; and pampers BabyDry with Caterpillar Flex, a nappy designed to prevent leaks when babies stomachs shrink at night. 5. Brand extension strategy: P&G produces its brands in several sizes and forms. This re shelf space and prevents competitors from moving in to satisfy unmet needs. P&G also uses its strong brand names to launch new products with instant recognition and much less advertising outlay. The Mr Clean brand has been extended from a household cleaner to a bathroom cleaner, and even to a car wash system. Old Spice was successfully extended from men’s fragrances to deodorant. Old Spice has toppled Right Guard to become the leading antiperspirant for men.
  • 42. 42 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk 6. Multibrand strategy: P&G markets several brands in the same product category such as Luvs and Pampers nappies and Oral-B and Crest toothbrushes. Each brand meets a different consumer desire and competes against specific competitors’ brands. At the same time, P&G has begun to prune carefully to reduce its vast array of products, sizes, flavours and varieties to assemble a stronger brand portfolio focused on the best products. 7. Communication pioneer: P&G is one of the two top advertisers in the UK, spending about £180 million. A pioneer in using the power of television to create strong consumer awareness and preference, P&G is now taking a leading role in building its brands on the Web and through other digital technologies. It is also infusing stronger emotional appeals into its communications to create deeper consumer connections. 8. Aggressive sales force: As part of its communication strategy P&G's sales force has been named one of the top 25 sales forces by Sales & Marketing Management magazine. A key to its success is the close ties its sales force forms with retailers 9. Manufacturing efficiency and cost cutting: P&G’s reputation as a great marketing company has been matched by its excellence as a manufacturing company. P&G spends large sums developing and improving production operations to keep its costs among the lowest in the industry, allowing it to reduce the premium prices at which some of its products sell.
  • 43. 43 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk 2. WHAT ARE THE 4 CS OF GOOD BUSINESS? If you have studied marketing you’ll know all about the "Four P's" – even the “Seven P’s”. Well you might be interested to know that an academic by the name of Bob Lauterborn, from the University of North Carolina has caused us to head up the alphabet to C to reckon with the “Four C’s” He believes that the Four P's should be replaced with his Four C's. “Why?”You might ask. “Simple!” He says. “They aren’t working!” Wow! The cheek of it! A challenge to a 60 year old guiding-light of marketing-thinking. None-the-less it’s worth a peek. Lauterborn’s recommendations, expressed in broad terms, are as follows: 1. First rather than Product our focus should be CONSUMER WANTS AND NEEDS You can't develop products and then try to sell them to a mass market. You have to study consumer wants and needs and then attract consumers one by one with something each one wants that is better and different. The great writer and consultant, Peter Drucker, insists on the same end when urging us to ‘create a customer.’ In most cases, you have to find out what people want and then "build" the product or service for them, their way. Another C replacement for Product is Capable. By defining offerings as a combination of individual capabilities and concentrating them on a specific industry, creates a custom solution rather than pigeon-holing a customer into a product. Zara, McDonalds and easyJet are examples. 2. Second COST to satisfy rather than Price You have to realize that price - measured in sterling - is one part of the cost to satisfy. If you sell fish and chips, for example, you have to consider the cost of your customer driving to your shop, the cost of conscience of eating fat rich food, etc. One of the most difficult places to be in the business world is the retailer selling at the lowest price. If you rely strictly on price to compete you are vulnerable to competition - in the long term. 3. Third rather than Place consider the issue of CONVENIENCE to buy Why is it important to think of convenience to buy instead of place? Well surely the answer is rooted in knowing how each subset of the market prefers to buy - from the Internet, from a catalogue, on the phone, with a credit card and so forth. Estée Lauder, Amazon Books and Dell Computers are just a few businesses who do very well over the Internet. Harrods, Tesco and IKEA are examples of stores that offer convenience. 4. Fourth COMMUNICATION rather than Promotion Given that promotion is essentially manipulative as it’s from the seller, the concept of communication suggests an exchange of ideas between buyer and seller. Communication requires ‘give and take.’ Thus a more interactive approach can make any form of communication more collaborative. The use phone numbers, web site address and so forth all help. As does listening to your customers, particularly supporters and advocates that can help you build the next wave of products and services.
  • 44. 44 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk Building brand takes into account these considerations. Brand development is concerned with crafting – and then delivering on - a promise. When you take into consideration the "Four C’s" outlined above you begin the process of brand building! So what are your conclusions? Are we being served with a dish of semantics? Or possibly a salver of something new or a serving dish comprising a something old served as something new? Well I’ll tell you what I think and you can tell me what you think! The ‘Four C’s’ model is in fact a reiteration of the ‘Four P’s’ model, refined to be more customer-centric.
  • 45. 45 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk 3. MANAGING BRANDS: HOW TO ACHIEVE AND SUSTAIN MARKET LEARDERSHIP Procter & Gamble [P&G) is one of the most skilful marketers of consumer of consumer packaged goods, owning many household brands such as Olay, Pampers, Braun, Pantene, Oral-B, Crest, and Gillette, to name but a few. The company’s scope and accomplishments are staggering. It markets nearly 300 brands in more than 160m countries; is a global leader in 7 of the 12 different product categories in which it competes; and has total worldwide sales of more than e400b a year. Its sustained market leadership rests on a number of different capabilities and philosophies: 1. Customer knowledge: P&G studies its customers – both end consumers and channel members – through continuous marketing research and intelligence gathering. It spends more than e100m annually on more than 10,000 formal consumer research projects and generates more than 3 million consumer contacts via its email and call centre. It also puts more emphasises on getting its researchers out into the field, where they can interact with consumers and retailers in their natural environment. 2. Long term outlook: P&G takes time to analyse each opportunity carefully and to prepare the best product. It then commits to making this product a success. It struggled with Pringles potatoes crisps for almost a decade before achieving market success. 3. Product innovation: P&G is an active product innovator, devoting almost e2 billion (3.5 percent of sales) to research and development an impressively high amount for a packaged goods company. It employs more PhDs than many universities combined and applies for 3000 patents annually. Part of its innovation process is developing brands that offer consumers new benefits. Recent examples include Fabreze, an odour elimination fabric spray, and Mr Clean Magic Eraser, an innovative cleaning sponge. 4. Product quality strategy: P&G designs products of above-average quality and continuously improves them. When P&G says ·new and improved· it means it. Recent examples include: Pantene Ice Shine shampoo, conditioner and styling gel; and pampers BabyDry with Caterpillar Flex, a nappy designed to prevent leaks when babies stomachs shrink at night. 5. Brand extension strategy: P&G produces its brands in several sizes and forms. This re shelf space and prevents competitors from moving in to satisfy unmet needs. P&G also uses its strong brand names to launch new products with instant recognition and much less advertising outlay. The Mr Clean brand has been extended from a household cleaner to a bathroom cleaner, and even to a car wash system. Old Spice was successfully extended from men’s fragrances to deodorant. Old Spice has toppled Right Guard to become the leading antiperspirant for men. 6. Multibrand strategy: P&G markets several brands in the same product category such as Luvs and Pampers nappies and Oral-B and Crest toothbrushes. Each brand meets a different consumer desire and competes against specific competitors’ brands. At the same time, P&G has begun to prune carefully to reduce its vast array of products, sizes, flavours and varieties to assemble a stronger brand portfolio focused on the best products.
  • 46. 46 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk 7. Communication pioneer: P&G is one of the two top advertisers in the UK, spending about £180 million. A pioneer in using the power of television to create strong consumer awareness and preference, P&G is now taking a leading role in building its brands on the Web and through other digital technologies. It is also infusing stronger emotional appeals into its communications to create deeper consumer connections. 8. Aggressive sales force: As part of its communication strategy P&G's sales force has been named one of the top 25 sales forces by Sales & Marketing Management magazine. A key to its success is the close ties its sales force forms with retailers 9. Manufacturing efficiency and cost cutting: P&G’s reputation as a great marketing company has been matched by its excellence as a manufacturing company. P&G spends large sums developing and improving production operations to keep its costs among the lowest in the industry, allowing it to reduce the premium prices at which some of its products sell. 10. Brand-management system: P&G originated the brand-management system, in which one executive is responsible for each brand. The system has been copied by many competitors but not often with P&Gs success. Recently P&G modified its general management structure so that each brand category is now run by a category manager with volume and profit responsibility. Although this new organisation does not replace the brand management system, it helps to sharpen focus on key consumer needs and competition in the category. It is easy to see that P&G’s success is based not on doing one thing well, but on successfully orchestrating the myriad factors that contribute to its brand leadership. Source: Marketing Management, (2009), Kotler, P; Keller, K.L; Brady, M; Goodman, M; & Hansen,T; Prentice Hall
  • 47. 47 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk 4. CHARACTERISTICS OF A COMPANY ‘S DEPARTMENTS THAT ARE TRULY CUSTOMER DRIVEN R&D • They spend time meeting customers and listening to their problems. • They welcome the involvement of marketing, manufacturing and other departments on each new project. • They benchmark competitors' products and seek 'best of class' solutions. • They solicit customer reactions and suggestions as the project progresses. • They continuously improve and refine the product on the basis of market feedback. Purchasing • They proactively search for the best suppliers rather than choose only from those who solicit their business by offering the lowest prices. • They build long-term relationships with fewer but more reliable high- quality suppliers, thereby developing a sustainable value chain. Manufacturing • They invite customers to visit and tour their plants. • They visit customer factories to see how they use the company's products. • They willingly work overtime when it is important to meet promised delivery schedules. • They continuously search for ways to produce goods faster and/or at lower costs. • They continuously improve product quality, aiming for zero defects. • They meet customer requirements for 'customisation' where this can be done profitably. Marketing • They study customer needs and wants in well-defined market segments. • They allocate marketing effort in relation to the long-run profit potential of the targeted segments. • They develop winning offerings for each target segment. • They measure company image and customer satisfaction on a continuous basis. • They continuously gather and evaluate ideas for new products, product improvements and services to meet customers' needs. • They influence all company departments and employees to be customer centred in their thinking and practice Sales • They have specialised knowledge of the customer's industry. • They strive to give the customer 'the best solution'. • They make only promises they can keep. • They feed back customers' needs and ideas to those in charge of product development. • They serve the same customers for a long period of time. Logistics • They set a high standard for service delivery time and they meet this standard consistently.
  • 48. 48 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk • They operate a knowledgeable and friendly customer-service department that can answer questions, handle complaints and resolve problems in a satisfactory and timely manner. Accounting • They prepare periodic 'profitability' reports by product, market segment, geographic areas (regions, territories), order sizes and individual customers. • They prepare invoices tailored to customer needs and answer customer queries courteously and quickly. Finance • They understand and support marketing expenditures (e.g., image advertising) that represent marketing investments which produce long-term customer preference and loyalty. • They tailor the financial package to the customers' financial requirements. • They make quick decisions on customer creditworthiness, Public Relations • They disseminate favourable news about the company and they 'damage control o unfavourable news. • They act as an internal customer and public advocate for better company policies and practices. Other customer contact staff • They are competent, courteous, cheerful, credible, reliable and responsive.
  • 49. 49 COACHING BUSINESS 01280 844966 info@coaching-business.co.uk www.coaching-business.co.uk For further support Call Andrew Pearson on 01280 844966 or email andrew@coaching-business.co.uk Andrew M Pearson About Coaching Business Andrew M Pearson NDA, Dip M, MBA is considered to be a prominent expert in the fields of strategy, marketing and operations management. He tutors at Oxford Business School and is also a visiting lecturer at Warwick University. In addition to UK business school experience he has led and presented seminars and workshops at business forums throughout the world. He has extensive experience as a business coach, consultant and management speaker and has worked with managers and management students in the UK, Europe, China and Libya. He focuses on issues of strategy development, planning and implementation. His publications include; How to Invent New Business and How to Build a Business that Works Without You. A third volume, entitled The Strategic Manifesto, will follow in 2010. Andrew set up his first business aged 25 and steered it to market leadership and a turnover of £11m in 6 years. Since then, he’s held senior management and professorial posts at a number of UK firms, including four years with Cargill, during which he founded pioneering strategies for business development in Eastern Europe. Clients include: • A P Moller Terminals • Andersons Consulting • BALI (SE) • Centaur Grain Ltd • Channel Express Ltd • Dart Plc • Edexcel • Everglade Windows Ltd • Fowler Welch Ltd • Hartley’s Nurseries Ltd • LEAF • Mack International Ltd • Palmstead Nurseries Ltd • Velcourt Ltd Further E-books and coaching support: • Transforming the Process of Going to Market • Rejuvenating the Mature Business • Challenging the rules of the game • How to build a business that runs without you • Customer Driven Market Change • Creating Time to Think and Plan • So You Think You Know Your Customers For more information: Please contact Andrew for a chat on 01280 844966 and for more information visit www.coaching- business.co.uk