McDonald / Ward / Smith Marketing Due Diligence

Reconnecting Strategy to Share Price
1. Auflage 2005
ISBN: 978-0-08-045942-4
Verlag: Elsevier Science & Techn.
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 300 Seiten, Web PDF

At the top of a company, sales do not matter, profits do not matter, even return on investment is a secondary concern. What matters is share price and what drives share price is the creation of shareholder value. Many marketing directors, obsessed with branding and other promotional tactics, miss this fundamental truth of modern business and so destroy the wealth of their company's ultimate owners. By failing to consider and manage the business risk associated with their strategies, they deliver returns below the cost of capital and neglect the firm's raison d'etre. The board needs a way of holding these marketers to account.

Marketing Due Diligence is a new process which has emerged from years of research at Cranfield, one of Europe's leading business schools. It blends proven ideas from strategic and financial management with new concepts about organisational effectiveness to create a process that directly connects marketing strategy to shareholder value. CEOs and CFOs cannot afford to operate without Marketing Due Diligence. Bad marketing directors cannot afford to work with it.
* Top level Cranfield based author team utilising latest Cranfield in-company research
* Connects marketing plans and investment to the valuation of the firm and how it can contribute to increasing stakeholder value
* Systematic and practical approach so that it can be used by both practitioners and students

MA(Oxon), MSc, PhD, D.Litt. FCIM FRSA, until recently was Professor of Marketing and Deputy Director Cranfield School of Management, with special responsibility for E-business. Malcolm is a graduate in English Language and Literature from Oxford University, in Business Studies from Bradford University Management Centre, and has a PhD from Cranfield University. He also has an Honorary Doctorate from Bradford University. Malcolm has extensive industrial experience, including a number of years as Marketing Director of Canada Dry.

Zielgruppe

Academic/professional/technical: Research and professional

Autoren/Hrsg.

McDonald, Malcolm

Ward, Keith

Smith, Brian

Inhaltsverzeichnis

1;Cover;1
2;Marketing Plans for Service Businesses: A complete guide;4
3;Contents;6
4;Preface;8
5;The structure of this book and how to use it;10
6;List of figures;12
7;1 Marketing and services;16
7.1;The growing importance of the service sector;16
7.2;Service businesses and marketing effectiveness;17
7.3;The purpose of this book;17
7.4;The marketing concept;18
7.5;Misunderstandings about marketing;19
7.6;A definition of marketing;20
7.7;An overview of the new marketing process;21
7.8;Define markets and understand value;22
7.9;Determine value proposition;24
7.10;Deliver value proposition;25
7.11;Monitor value;28
7.12;Summary;31
8;2 The nature of services marketing;32
8.1;Classification of services;34
8.1.1;1 What is the nature of the service act?;35
8.1.2;2 What style of relationship does the service organization have with its customers?;36
8.1.3;3 How much room is there for customization and judgement?;37
8.1.4;4 What is the nature of supply and demand for the service?;38
8.1.5;5 How is the service delivered?;39
8.2;The strategic value of services in manufacturing;40
8.3;The marketing mix;41
8.3.1;Services and the marketing mix;41
8.4;A history of marketing in the service industry;43
8.5;Customer retention and profitability;45
8.6;Integrated relationship marketing;46
8.7;Summary;50
9;3 Marketing planning for services: the process;52
9.1;What is marketing planning?;53
9.2;Other approaches to marketing planning;54
9.3;The marketing planning process;55
9.3.1;Step 1 Mission;58
9.3.2;Step 2 Corporate objectives;58
9.3.3;Step 3 Marketing audit;59
9.3.4;Step 4 SWOT analyses;60
9.3.5;Step 5 Key assumptions;60
9.3.6;Step 6 Marketing objectives and strategies;60
9.3.7;Step 7 Estimate expected results;61
9.3.8;Step 8 Identify alternative mixes;61
9.3.9;Step 9 Budget;62
9.3.10;Step 10 First-year detailed implementation programme;62
9.4;Summary;63
10;4 Marketing planning for services: the problems;64
10.1;Marketing planning and services;64
10.2;What gets in the way of marketing planning?;68
10.2.1;1 Short-termism;69
10.2.2;2 Weak support from the chief executive and top management;69
10.2.3;3 Lack of a plan for planning;70
10.2.4;4 Lack of line management support;71
10.2.5;5 Confusion over planning terms;71
10.2.6;6 An over-reliance on numbers;71
10.2.7;7 Too much detail, too far ahead;72
10.2.8;8 Once-a-year ritual;73
10.2.9;9 Confusion between operational and strategic marketing planning;73
10.2.10;10 Failure to integrate marketing planning into the corporate planning system;74
10.2.11;11 Delegation of planning to a ‘planner’;75
10.2.12;12 Uncertainty about what should appear in the marketing plan;77
10.3;Summary;77
11;5 Marketing planning Phase One: the strategic context;78
11.1;Step 1 Mission;79
11.1.1;A mission for services;79
11.1.2;The nature of corporate missions;81
11.1.2.1;1 How does one get the balance between too narrow and too wide?;81
11.1.2.2;2 Who is the target audience for the mission and what are their expectations?;82
11.1.2.3;3 What business are we in?;83
11.1.2.4;4 How unique is the mission statement?;84
11.1.2.5;5 Is the mission market-orientated?;84
11.1.2.6;6 At what level in the service organization is the mission statement being prepared?;84
11.1.3;Example of service organization mission statements;86
11.1.4;Levels of mission statement;90
11.1.5;From mission statements to vision and values;92
11.1.6;Developing a service mission;93
11.1.7;The realizable mission;95
11.2;Step 2 Corporate objectives;96
11.2.1;Corporate objectives and strategies;96
11.2.2;Quantitative versus qualitative objectives;98
11.3;Summary;99
12;6 Marketing planning Phase Two: the situation review (Part 1);102
12.1;Step 3 The marketing audit;103
12.1.1;Who should do it?;104
12.1.2;What needs to be covered?;105
12.2;Sub-audit 1 Customers and markets;105
12.2.1;Market segmentation;106
12.2.1.1;The difference between customers and consumers;106
12.2.1.2;Market maps;107
12.2.1.3;Segmentation bases;109
12.2.1.3.1;Products and services;109
12.2.1.3.2;Channels;110
12.2.1.4;Customer characteristics;110
12.2.1.5;Customer responses;111
12.2.2;Segment granularity;113
12.2.3;The segmentation process;114
12.2.3.1;1 Define the market to be addressed;114
12.2.3.2;2 Map the market;116
12.2.3.3;3 List what is bought;116
12.2.3.4;4 List who buys;116
12.2.3.5;5 List why they buy what they buy;116
12.2.3.6;6 Form micro-segments;116
12.2.3.7;7 Forming final segments;116
12.2.3.8;8 Decide which of the segments are more or less attractive;116
12.2.4;Communities or segments?;118
12.3;Summary;127
13;7 Marketing planning Phase Two: the situation review (Part 2);130
13.1;Sub-audit 2 Competitive position;130
13.2;Sub-audit 3 The environmental audit;133
13.3;Sub-audit 4 Auditing the services and products;136
13.3.1;How differentiated is the service product?;136
13.3.2;Features, advantages and benefits;136
13.3.3;Service product positioning;139
13.3.4;The process of positioning;141
13.3.4.1;1 Determining levels of positioning;141
13.3.4.2;2 Identifying the key attributes;141
13.3.4.3;3 Locating attributes on a positioning map;142
13.3.4.4;4 Evaluating positioning options;143
13.3.4.5;5 Implementing positioning;144
13.3.5;The concept of life cycles;145
13.3.5.1;Diffusion of innovation;148
13.3.5.2;Portfolio of services;150
13.4;Sub-audit 5 The organizational audit;151
13.4.1;Skills;151
13.4.2;Resources;151
13.4.3;Systems and procedures;152
13.4.4;Roles and relationships;152
13.5;The marketing audit – conclusions;152
13.6;Step 4 SWOT analyses;155
13.7;Step 5 Key assumptions;159
13.8;Summary;161
14;8 Marketing planning Phase Three: marketing strategy formulation;162
14.1;Step 6 Marketing objectives and strategies;163
14.1.1;Marketing objectives;163
14.1.2;How to set marketing objectives;164
14.1.2.1;Gap analysis;165
14.1.2.2;Portfolio management;166
14.1.2.3;Revenue generation;168
14.1.2.4;Constructing the portfolio matrix;169
14.1.2.5;The portfolio matrix and the future;171
14.1.2.6;The matrix and strategy formulation;172
14.1.2.7;Developing competitive strategies;172
14.1.3;Marketing strategies;176
14.2;Step 7 Estimate expected results;180
14.3;Step 8 Identifying alternative mixes;181
14.4;Summary;183
15;9 Marketing planning Phase Four: resource allocation, monitoring and detailed planning (Part 1: The Budget, the Service Product Plan and the Communications Plan);184
15.1;Step 9 The marketing budget;185
15.1.1;The revenue budget;185
15.1.2;The ‘marketing capacity’ budget;186
15.1.3;The capital expense and finance budget;186
15.2;Step 10 First-year implementation programme;188
15.3;Mix element 1 The service product plan;189
15.3.1;Branding[sup(2)];190
15.3.2;Physical evidence;192
15.3.3;New product and service development;193
15.3.4;Managing the service product plan;194
15.4;Mix element 2 The promotion and communications plan;194
15.4.1;The changing nature of promotion and distribution;194
15.4.2;Marketing operations and the new sales process;196
15.4.3;The need for CRM systems to underpin tailored communications;196
15.4.4;Impersonal communications;202
15.4.4.1;Advertising;203
15.4.4.1.1;Advertising objectives;203
15.4.4.1.2;The diffusion of innovation process;206
15.4.4.1.3;Other’ markets for communication;207
15.4.4.2;Sales promotion;207
15.4.5;Types of sales promotion;208
15.4.6;Preparing the sales promotion plan;208
15.4.6.1;Public relations (PR);210
15.4.6.1.1;PR ‘tools’;213
15.4.6.2;Direct marketing;214
15.4.7;Personal communications;215
15.4.7.1;The role of personal selling;216
15.4.7.1.1;What does the company want salespeople to do?;216
15.4.7.1.2;How many salespeople?;217
15.4.7.1.3;Preparing a sales plan;218
15.5;Summary;220
15.6;Application questions;220
16;10 Marketing planning Phase Four: resource allocation, monitoring and detailed planning (Part 2: Price, Place, People, Processes and Customer Service);222
16.1;Mix element 3 The pricing plan;222
16.1.1;Pricing objectives;223
16.1.1.1;Demand;224
16.1.1.2;Costs;225
16.1.1.3;Competition;226
16.1.2;Pricing methods;227
16.1.2.1;Relationship pricing;227
16.2;Mix element 4 The place plan – getting the service to the customers;229
16.2.1;Location decisions;229
16.2.2;Channel decisions;230
16.2.2.1;New channels;232
16.2.2.2;How channels work together;233
16.3;Mix element 5 The people element of the marketing mix;236
16.3.1;People in services;236
16.3.2;Internal marketing;238
16.4;Mix element 6 The processes element of the marketing mix;239
16.4.1;Analysing the processes;240
16.4.2;Conflict between operations and marketing;242
16.5;Mix element 7 The customer service element of the marketing mix;243
16.5.1;Creating a customer service strategy;244
16.6;The need for an overall marketing mix strategy;245
16.7;Monitoring, control and review;247
16.8;Summary;249
17;11 Organizing for marketing planning;250
17.1;Introduction;250
17.2;Marketing intelligence systems;251
17.2.1;Internal data sources and MIS;252
17.2.2;Database marketing – reconciling the tactical with the strategic;253
17.2.3;What is the secret of using information successfully?;255
17.2.4;Who manages the MIS?;258
17.3;Marketing research;258
17.3.1;Budgeting for marketing research;261
17.4;Marketing planning and company structure;262
17.4.1;The organizational life-line;262
17.4.2;Centralized versus decentralized marketing;266
17.4.3;The matrix organization;269
17.5;Plan for marketing planning;271
17.6;The marketing planning cycle;272
17.6.1;Planning horizons;272
17.6.2;How the marketing planning process works;273
17.6.3;Developing a marketing orientation;279
17.7;Learning and planning for change;282
17.8;Summary;284
18;12 A step-by-step marketing planning system for services;286
18.1;PART 1 Marketing planning summary;286
18.1.1;Important;286
18.1.2;The purpose of marketing planning;286
18.1.3;What is marketing planning?;286
18.1.4;Why is marketing planning necessary?;287
18.1.5;The strategic marketing plan;287
18.1.6;The tactical marketing plan;287
18.1.7;Ten barriers to marketing planning;287
18.1.8;The ‘Ten S’ approach to overcoming these barriers;287
18.1.8.1;Marketing planning – Principle 1 Strategy before tactics;288
18.1.8.2;Marketing planning – Principle 2 Situate marketing within operations;288
18.1.8.3;Marketing planning – Principle 3 Shared values about marketing;289
18.1.8.4;Marketing planning – Principle 4 Structure around markets;289
18.1.8.5;Marketing planning – Principle 5 Scan the environment thoroughly;289
18.1.8.6;Marketing planning – Principle 6 Summarize information in SWOT analyses;289
18.1.8.7;Marketing planning – Principle 7 Skills and knowledge;290
18.1.8.8;Marketing planning – Principle 8 Systematize the process;290
18.1.8.9;Marketing planning – Principle 9 Sequence objectives;291
18.1.8.10;Marketing planning – Principle 10 Style and culture;291
18.1.9;Conclusion to Part 1;291
18.1.9.1;Contents of a marketing plan;291
18.1.9.2;What should appear in the strategic marketing plan;292
18.2;PART 2 A marketing planning system;292
18.2.1;Introduction;292
18.2.2;SECTION A Step-by-step approach to the preparation of a strategic marketing plan;294
18.2.2.1;Basis of the system;295
18.2.2.2;The marketing audit;295
18.2.2.3;The contents of a strategic marketing plan;297
18.2.2.3.1;1 SBU mission statement;297
18.2.2.3.2;2 Summary of SBU’s performance;297
18.2.2.3.3;3 Summary of financial projections;298
18.2.2.3.4;4 Market overview;299
18.2.2.3.5;5 SWOT analyses of major services/markets;299
18.2.2.3.5.1;Compiling the SWOT analyses;299
18.2.2.3.5.2;Guidelines for completing the SWOT analysis;300
18.2.2.3.5.2.1;I Some important factors for success in this business (critical success factors);300
18.2.2.3.5.2.2;II Summary of outside influences and their implications (opportunities and threats);301
18.2.2.3.5.2.3;III Key issues to be addressed;301
18.2.2.3.5.2.4;IV Assumptions, marketing objectives, marketing strategies;301
18.2.2.3.5.2.5;V Competitor analysis;302
18.2.2.3.6;6 Portfolio summary (summary of SWOTs);303
18.2.2.3.7;7 Overall assumptions;307
18.2.2.3.8;8 Overall marketing objectives and strategies;308
18.2.2.3.8.1;Marketing objectives;308
18.2.2.3.8.2;Marketing strategies;309
18.2.2.3.8.3;Guidelines for setting marketing objectives and strategies;309
18.2.2.3.8.3.1;Invest;310
18.2.2.3.8.3.2;Maintain;310
18.2.2.3.8.3.3;Profit;310
18.2.2.3.8.3.4;Selective;311
18.2.2.3.8.4;Further marketing and other functional guidelines;311
18.2.2.3.8.5;Database and summary of marketing objectives;311
18.2.2.3.8.5.1;Forms included in database;311
18.2.2.3.9;9 Financial projections for three years;312
18.2.2.4;Strategic marketing plan documentation;313
18.2.3;SECTION B The one-year marketing plan;328
18.2.3.1;Contingency plan;328
18.2.3.2;Guidelines for completion of a one-year marketing plan;328
18.2.3.2.1;Suggested format for a one-year marketing plan;329
18.2.3.3;One-year marketing plan documentation;331
18.2.4;SECTION C Headquarters’ consolidation of several SBU strategic marketing plans;338
18.2.4.1;Directional statement;338
18.2.4.2;Summary of the main features of the plan;338
18.2.4.3;Financial history (past five years);338
18.2.4.4;Major changes and events since the previous plan;338
18.2.4.5;Major issues by strategic business unit;339
18.2.4.5.1;Market characteristics;339
18.2.4.5.2;Key strategic issues;339
18.2.4.5.3;Strategic objectives by strategic business unit and key statistics;339
18.2.4.5.4;Financial goals (next five years);340
18.2.4.5.5;Appendices;340
18.2.4.5.6;Timetable;340
18.2.4.5.6.1;Planning team’s ‘kick-off’ meetings (to be completed by 31 March);340
18.2.4.5.6.2;Top-down and bottom-up planning;341
18.2.4.6;And finally, a test to check the quality of your strategic marketing plan;342
19;Examples of marketing plans;346
19.1;Introduction;346
19.2;Contents;346
19.3;ALISON, HAZLEWOOD AND PARTNERS;346
19.3.1;Introduction;346
19.3.2;Three-year strategic marketing plan;347
19.3.2.1;1 Mission statement;347
19.3.2.2;2 Summary of performance;347
19.3.2.3;3 Financial projections;348
19.3.2.4;4 Market overview;348
19.3.2.5;5 Changes in the market;349
19.3.2.5.1;A General;349
19.3.2.5.2;B Local;349
19.3.2.6;6 SWOT Analysis on key business areas;349
19.3.2.6.1;Trusts, wills and probate;349
19.3.2.6.2;Family;350
19.3.2.6.3;Conveyancing;351
19.3.2.6.4;Commercial;352
19.3.2.7;7 Product portfolio and directional strategy;353
19.3.2.8;8 Marketing stance and objectives;355
19.3.3;Footnotes;357
19.4;STEADFAST DESIGN CORPORATION;358
19.4.1;Background information;358
19.4.2;Executive summary;358
19.4.2.1;1 Financial targets;358
19.4.2.2;2 Analysis of customer base;358
19.4.2.3;3 Regional trends;359
19.4.2.4;4 Analysis;359
19.4.2.4.1;Strengths;359
19.4.2.4.2;Weaknesses;359
19.4.2.4.3;Opportunities;359
19.4.2.4.4;Threats;360
19.4.2.5;5 Major objectives over next three years;360
19.4.2.6;6 General progress;360
19.4.3;Introduction;360
19.4.4;Section 1 Situation review;360
19.4.4.1;1 Relative market share;361
19.4.4.1.1;Conclusion;361
19.4.4.2;2 Characteristics of these business sectors;361
19.4.4.3;3 Income;362
19.4.4.3.1;Conclusion;362
19.4.4.4;4 Distribution of income;362
19.4.4.5;5 Customer matrix;362
19.4.4.5.1;Looking at the total business;363
19.4.4.5.2;Conclusion;363
19.4.4.6;6 Regional breakdown of customer matrix;364
19.4.4.6.1;Conclusion;365
19.4.4.7;7 Sources of funding;365
19.4.4.7.1;Conclusion;365
19.4.4.8;8 Environmental review;366
19.4.5;Section 2 SWOT analysis;366
19.4.5.1;Strengths;366
19.4.5.2;Weaknesses;366
19.4.5.3;Opportunities;367
19.4.5.4;Threats;367
19.4.6;Section 3 Assumptions;367
19.4.7;Section 4 Marketing objectives and strategies;367
19.4.8;Section 5 Plans and mixes;368
19.4.9;Section 6 Targets and programmes;369
19.4.9.1;1 Financial targets;369
19.4.9.2;2 Customer base;370
19.4.9.3;3 Advertising and promotion;370
19.4.9.4;4 Pricing;370
19.5;WILCOX AND SIMMONDS PROJECT MANAGEMENT LTD;371
19.5.1;Introduction;371
19.5.2;1 Review of first full year’s trading;371
19.5.3;2 Mission statement;372
19.5.4;3 Financial projections;373
19.5.5;4 Market overview;373
19.5.5.1;Competition;373
19.5.5.2;Market trends;374
19.5.5.3;Market structure;374
19.5.5.4;Strategic business units;374
19.5.5.5;Ansoff matrix;375
19.5.5.6;Gap analysis;375
19.5.6;5 SWOT analysis;376
19.5.7;6 Critical success factors;376
19.5.8;7 Assumptions;378
19.5.9;8 Portfolio analysis;378
19.5.10;9 Marketing objectives and strategies;379
19.5.11;10 Marketing strategies (i.e. the marketing mix);380
19.5.12;Appendix A Developing value management;381
19.5.13;Appendix B Criteria for acquisition;382
19.6;MORITAKI COMPUTERS (UK) LTD;382
19.6.1;Background and information;382
19.6.2;1 Corporate mission;383
19.6.3;2 Situation review;384
19.6.3.1;Market review;384
19.6.3.2;Competition and company image;384
19.6.3.3;Market positioning;386
19.6.3.4;Marketing environment;386
19.6.4;3 Product plans and analyses;387
19.6.4.1;Cassandra system;387
19.6.4.2;Development services;390
20;Glossary of marketing planning terms;394
20.1;A;394
20.2;B;394
20.3;C;394
20.4;D;395
20.5;E;395
20.6;F;395
20.7;G;396
20.8;I;396
20.9;M;396
20.10;O;398
20.11;P;398
20.12;R;399
20.13;S;399
20.14;T;400
21;References;402
21.1;Chapter 1;402
21.2;Chapter 2;402
21.3;Chapter 3;402
21.4;Chapter 4;403
21.5;Chapter 5;403
21.6;Chapter 6;404
21.7;Chapter 7;404
21.8;Chapter 8;404
21.9;Chapter 9;405
21.10;Chapter 10;405
21.11;Chapter 11;406
22;Index;408
22.1;A;408
22.2;B;408
22.3;C;408
22.4;D;409
22.5;E;410
22.6;F;410
22.7;G;410
22.8;H;410
22.9;I;410
22.10;J;410
22.11;K;410
22.12;L;410
22.13;M;411
22.14;N;413
22.15;O;413
22.16;P;413
22.17;R;414
22.18;S;415
22.19;T;416
22.20;U;416
22.21;V;416
22.22;W;416
22.23;Z;416