10 Key factors for marketing effectiveness.ENVIRONMENTAL SENSITIVITY.TIGHT CUSTOMER FOCUS.BALANCE PORTFOLIO.CUSTOMER ORIENTATION.COMMITMENT TO INNOVATION AND IMPROVEMENT.

June 30, 2009 by kutenk
Filed under: Sales and Marketing 

The Power of Marketing–Effectiveness is More Important than Efficiency

Key factors for marketing effectiveness
1.    ENVIRONMENTAL SENSITIVITY
Sound research/analysis of how the market is changing, leading to a more proactive approach. Quick feedback mechanisms on success/failure.

2.    TIGHT CUSTOMER FOCUS
Knowing who your chosen customers are, where they are and what they want. Targeting of the offering and all marketing activities rather than a ‘catch-all’ approach.




3.    BALANCE PORTFOLIO
Sufficient products in each of the following categories:
?    steady revenue earners
?    growth products and
?    products for the future.
?    These should all be managed appropriately to provide a sound business platform. The right balance of marketing and financial objectives will achieve this.

4.    CUSTOMER ORIENTATION
Customers believe the company is ‘good to do business with’. This is essential for loyalty and as a platform for future acceptability. This has to be a ‘top-down’ commitment with no deviations.

5.    COMMITMENT TO INNOVATION AND IMPROVEMENT
Not only in design, quality and performance but in new and better ways of handling the business.

6.    RECOGNITION OF NEED FOR ORGANIZATIONAL ADAPTATION
Flexible, alert, prepared to change ‘old ways’. Helped by ‘flat’ structures, shared objectives and effective teamwork.




7.    UNDERSTANDING YOUR COMPETITIVE ADVANTAGE
Commitment to being ‘better than the competition’ in ways to which customers will respond positively. Not being ‘equal’ or just using reactive ‘bench marking’ to mimic others, but ‘setting the agenda’ for others to follow.

8.    CLEAR, REALISTIC PRODUCT LINE STRATEGIC OBJECTIVES
Helped by good portfolio thinking. Not trying to maximize profit, share or growth inappropriately or ‘equally’, on all products in all markets. Avoiding ‘macho’ targets which will require ‘market forcing’ and lead to problems in the long-term. Understanding the need for product ‘image’ as well as performance objectives.

9.    ’TIGHT-LOOSE’ CONTROL SYSTEMS
Understanding what needs to be tightly controlled or standardized, and what needs adaptation to market, or local input and accountability, to be fully successful.

10.    LONG-TERM ORIENTATION
Not looking only for short-term profit, but investing in image and a strong long-term market position as a foundation for future profit.

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  1. Unionville Center, Ohio » Blog Archive » Tourism in Kenya on Wed, 8th Jul 2009 7:42 pm

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