Marketing Management For Non-Marketing Managers

Marketing Management For Non-Marketing Managers

by Heather Fitzpatrick
Released May 2017
Publisher(s): Wiley
ISBN: 9781937352677

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Book description

Although marketing-related expenses are a significant portion of most organizations’ budgets, it is often frustrating for those with budget oversight to get a clear picture of the returns on their marketing investment.

This engaging book offers practical ways for non-marketing managers and executives to measure and improve marketing returns. It gives you the tools you need to be able to correctly assess the potential of your marketing and accurately evaluate the returns. You’ll learn:

  • Why market leaders achieve significantly greater returns on their marketing than others within their market.
  • The 3 main reasons most marketing plans fail to live up to their potential, and the steps you must take to avoid these pitfalls.
  • How to evaluate your marketing investment’s likely ROI before you invest the money.
  • When and how to assess the financial returns of your marketing efforts.
  • How well your own organization is performing in the management of its marketing investments.

The book includes:

  • Case studies from companies of various sizes and in a cross-section of industries, including not-for-profits
  • 4 tests to use prior to the approval of a marketing budget
  • A marketing performance evaluation tool to assess and improve your organization’s marketing management

Table of contents

  1. Cover Page
  2. Title Page
  3. Copyright Page
  4. Preface
  5. Acknowledgments
  6. About the Author
  7. Contents
  8. SECTION 1: WHAT IS MARKETING?
    1. 1: A MARKET LEADER’S DEFINITION OF MARKETING
      1. How Market Leaders Define Marketing
      2. Marketing, the Discipline, Versus Marketing, the Function
      3. Marketing in Your Organisation—and in This Book
      4. Chapter 1 Summary
  9. SECTION 2: MANAGING THE DISCIPLINE OF MARKETING
    1. 2: THE DISCIPLINE OF MARKETING: THE FOUNDATION FOR BUSINESS STRATEGY
      1. Why the Discipline of Marketing Produces the Crystal Ball Effect
      2. Leveraging Market Insight
        1. Opportunities: Identifying Unmet, Untapped or Underserved Market Needs
        2. Threats: Understanding the Competition
        3. Opportunities and Threats: Your Company’s Reputation
      3. The Other Half of Marketing: Meeting Market Needs
      4. Choosing a Market: The Challenge of Serving Many Masters
        1. The Cost of Market Diversity
        2. The Benefits of Market Focus
        3. Focus Made the Difference
        4. Choosing a Market
      5. Translating Value Proposition Into Products and Services
      6. Aligning Your Business Activities
        1. The Point C Principle
        2. The Importance of Vision
        3. Developing Vision
        4. Gap Analysis
      7. Setting Business and Financial Objectives
      8. Questions for Non-Marketing Managers to Ask About the Discipline of Marketing
      9. Chapter 2 Summary
    2. 3: BRAND MANAGEMENT FUNDAMENTALS
      1. The Definition of Brand
      2. The Building Blocks of a Strong Brand
        1. Strong Brands Reflect the Company’s Value Proposition
        2. Strong Brands Are Based on Truth
        3. Companies With Strong Brands Are Good Corporate Citizens
        4. Strong Brands Reflect the Image of the Merchant With Whom Their Customer Would Like to Do Business
      3. The Value of a Strong Brand
      4. Sources of Added Value Attributed to Brand
        1. Increased Customer Preference
        2. Reduced Promotional Cost
        3. Reduced Price Sensitivity
        4. Ability to Recruit and Retain Top Talent
        5. Easier Access to Capital and Financial Markets
        6. Public Benefit of the Doubt
      5. Best Practices and Tools of the Brand Trade
        1. Graphics Standards
        2. Key Messages
        3. Talking Points
        4. Brand Audits
      6. Brand Architecture
      7. Mitigating and Addressing Brand Damage
      8. Questions for Non-Marketing Managers to Ask About Brand Management
      9. Chapter 3 Summary
  10. SECTION 3: EVALUATING PROPOSED INVESTMENTS IN THE MARKETING FUNCTION
    1. 4: EVALUATING MARKETING PLAN ALIGNMENT
      1. What Drives Returns on Marketing Investments
      2. The Marketing Alignment Map
        1. Targeted Business and Financial Objectives
        2. Desired Brand Reputation
        3. Influencing Factors
        4. Marketing Strategies
        5. Marketing Tactics
        6. Expected Tactical Outcomes
        7. Expected Marketing Outcomes
        8. Expected Financial Returns
      3. Evaluating Marketing Alignment
      4. The Benefits of Alignment
      5. Questions for Non-Marketing Managers to Ask About Evaluating Marketing Plan Alignment
      6. Chapter 4 Summary
    2. 5: UNDERSTANDING WHAT INFLUENCES MARKET BEHAVIOUR
      1. Do You Know Why Your Customer Chooses Your Company—and Why Non-Customers Don’t?
        1. The Danger of Assumptions
      2. What Your Marketing Function Needs to Know
      3. Purchasing Decision Criteria
        1. Clip-Level and Competitive Criteria
      4. Market Segments
      5. Understanding Relative Market Positions
      6. Other Influencing Factors
      7. Prioritising Influencing Factors
      8. The Connection Between Influencing Factors, Marketing Strategies and Results
      9. The Relative Importance of Price
      10. Questions for Non-Marketing Managers to Ask About Factors Influencing Purchasing Behaviour
      11. Chapter 5 Summary
    3. 6: ALIGNING MARKETING TACTICS WITH INFLUENCING FACTORS
      1. Tactics Are Not Strategies
      2. Well-Crafted Marketing Strategies Provide Specific Guidance
      3. Align Attributes to Pick the Right Tactic
        1. Market Size
        2. Market Demographics
        3. Business-to-Business Versus Business-to-Consumer
        4. Potential Impact on Influencing Factors
        5. Brand Impact
        6. The Competitive Environment
        7. Cost-Benefit Analysis
        8. Return Timeline
        9. Complimentary Marketing Mixes
      4. ‘How’ Is as Important as ‘What’
      5. Special Considerations for International and Multi-Cultural Markets
      6. Special Considerations for Not-for-Profits
      7. Questions for Non-Marketing Managers to Ask About Aligning Marketing Tactics With Influencing Factors
      8. Chapter 6 Summary
  11. 7: PRODUCTS AND SERVICES: THE FIRST ‘P’ OF TACTICAL MARKETING
    1. Product Management and Innovation
    2. The Alternative to Innovation Is Death
    3. If Innovation Is Critical to Survival, Why Don’t Companies Do It?
    4. Key Principles in Product Management
      1. How the Product Life Cycle Affects Other Aspects of Marketing
      2. The Impact of New Product or Service Introductions on Existing Products or Services
      3. Discontinuing or Changing a Product or Service
      4. Brand Considerations
      5. Beyond the Product or Service
    5. Outsourcing Products or Expertise
    6. Questions for Non-Marketing Managers to Ask About Products and Services
    7. Chapter 7 Summary
  12. 8: PLACEMENT OR DISTRIBUTION: THE SECOND ‘P’ OF TACTICAL MARKETING
    1. Go Where the Market Looks for Solutions
    2. Balance Cost With Benefits
    3. Consider the Impact on Brand
    4. An Introduction to Channel Management
      1. Direct Distribution
      2. Indirect, or Channel, Distribution
    5. Cutting Out the Middleman
      1. Vertical Integration
      2. Franchising and Licensing
      3. Disintermediation
    6. Creative Partnerships
      1. Strategic Partnerships
      2. Value Added Resellers
      3. Joint Ventures
    7. Multi-Channel Distribution
    8. Channel Conflict
    9. How Channel Decisions Impact Product and Service Innovation
    10. Questions for Non-Marketing Managers to Ask About Place or Distribution
    11. Chapter 8 Summary
  13. 9: PRICING: THE THIRD ‘P’ OF TACTICAL MARKETING
    1. The Impact of a Dollar (or Pound, or Yen or Rupee)
    2. Common Approaches to Evaluating Price
      1. Cost-Based Pricing
      2. Competition-Based Pricing
      3. Value-Based Pricing
    3. Price and the Product Life Cycle
    4. Incentive Pricing Approaches
      1. Loss Leaders
      2. Freemiums
      3. Coupons, Groupons, Rebates, Sales and Other Short-Term Price Reductions
      4. Fixed Fees or Fixed Prices
      5. Retainers
      6. Package Prices
      7. Contingency Pricing
      8. Bulk Pricing
      9. Multiple Unit Pricing
      10. Push Money/Prize Money Allowances
    5. Other Pricing Approaches
      1. Price Discrimination
      2. Dynamic Pricing
      3. Terms
      4. Guarantees, Warrantees and Return Policies
      5. Advertising and Promotional Allowances
      6. Psychological Pricing
    6. The Connection Between Price, Product or Service, Distribution Systems and Operations
    7. The Impact of Brand on Price
    8. Market Realities
    9. Legal Issues
    10. Questions for Non-Marketing Managers to Ask About Price
    11. Chapter 9 Summary
  14. 10: PROMOTIONS: THE FOURTH ‘P’ OF TACTICAL MARKETING
    1. Understanding the Two Functional Purposes of Promotions
    2. Delegate, but Don’t Abdicate
    3. Why Following the Leader Is Risky
    4. Communicate So the Market Hears What You Say
    5. Pick the Right Tool for the Purpose
    6. A Guide to Common Promotional Tactics
      1. Advertising
      2. Direct Marketing
      3. Websites
      4. Social Media
      5. Collateral Materials and Related Marketing Communications
      6. Media Relations
      7. Public Relations (Other Than Media Relations and Social Media)
    7. Questions for Non-Marketing Managers to Ask About Promotions
    8. Chapter 10 Summary
  15. 11: EVALUATING RETURNS ON MARKETING INVESTMENTS
    1. Debunking the Measurement Myth
    2. The Benefits of Measurement
    3. Measuring Results in Anticipation of Funding
      1. Measuring Returns During and After Execution
    4. Determining the Appropriate Level of Accuracy
    5. Measurement Models: Simple to Complex
      1. Case Study #1: Evaluating the Potential Impact of a Website Overhaul
      2. Case Study #2: Evaluating the Impact of Changes in Products, Channels and Promotions
      3. Case Study #3: Increasing Precision Through Analytics
    6. Risk Adjustment
    7. Return on Marketing Investment
    8. Questions for Non-Marketing Managers to Ask About Measurement and Returns
    9. Chapter 11 Summary
  16. SECTION 4: MANAGING MARKETING OPERATIONS
    1. 12: WHY DO GOOD PLANS FAIL?
      1. The Tortoise Law
      2. Why Companies Voluntarily Abandon Their Plans
        1. Lack of Executive Commitment
        2. Leadership Changes
        3. Failure to Plan for Change
        4. No Evidence of Progress
        5. Executive Distrust
      3. Why Companies Drift Away From Their Plans
        1. Lack of Executive Commitment
        2. Poor Accountability
        3. Incremental Changes
      4. Why Companies Involuntarily Abandon Their Plans
        1. Inadequate Staffing
        2. Failure to Anticipate Significant Changes
        3. Failure to Anticipate Opportunities
      5. Questions for Non-Marketing Managers to Ask About Keeping a Plan on Track
      6. Chapter 12 Summary
  17. 13: STAFFING THE MARKETING DEPARTMENT
    1. Estimating Human Resources Requirements
    2. Acceptance of Responsibilities
    3. Assessing the Required Skills
    4. Using External Resources to Address Skill Gaps
      1. The Benefits of External Resources
      2. How to Decide When to Use External Marketing Resources
      3. Selecting a Resource
    5. Overseeing External Resources
    6. Questions for Non-Marketing Managers to Ask About Staffing the Marketing Department
    7. Chapter 13 Summary
  18. 14: MANAGING MEASUREMENT
    1. Addressing the Language Barrier
    2. Agreeing on Metrics
    3. Building Processes and Systems to Measure Performance
    4. Don’t Forget the Investment Side of the ROI Equation
    5. Remaining Focused
    6. Coordinating Efforts
    7. The CEO’s Role in Measurement
    8. Questions for Non-Marketing Managers to Ask About Managing the Measurement of Marketing Performance
    9. Chapter 14 Summary
  19. 15: CULTIVATING SYSTEMATIC LISTENING
    1. Modelling the Way: The Executive’s Role in Building the Crystal Ball Effect
    2. Building a Listening Culture
    3. Validating Internal Information With Third-Party Research
      1. Why Market Research Reduces Risk
      2. Effective Research Keeps the End in Mind
      3. Identify Assumptions and Define Risks
      4. Assess the Appropriate Investment
      5. Start With the End
    4. Key Market Research Tools and Concepts
      1. Types of Research
      2. Bias Risk in Research
      3. Research Design
      4. The Art of Interpretation in Research
    5. Questions for Non-Marketing Managers to Ask About Cultivating Systematic Listening
    6. Chapter 15 Summary
  20. SECTION 5: CONCLUSION
    1. 16: FOUR TESTS TO RUN BEFORE FUNDING
      1. The Alignment Test
        1. How the Test Works
        2. Case Study: The Alignment Test in Action
      2. The Assignment Test
        1. How the Test Works
        2. Case Study: The Assignment Test in Action
      3. The Risk Assessment Test
        1. How the Test Works
        2. Case Study: The Risk Assessment Test in Action
      4. The Anticipated Returns Test
        1. How the Test Works
        2. Case Study: The Anticipated Returns Test in Action
      5. Chapter 16 Summary
  21. 17: NOW WHAT?
    1. Marketing Performance Evaluation: How Does Your Company Compare?
      1. Section I: The Discipline of Marketing
      2. Section II: Evaluating Marketing Plans
      3. Section III: Managing the Marketing Function
    2. Now, Take It Again
    3. Share Your Answers
    4. Ask Questions
  22. GLOSSARY
  23. APPENDIX A: REFERENCES AND RESOURCES

Product information

  • Title: Marketing Management For Non-Marketing Managers
  • Author(s): Heather Fitzpatrick
  • Release date: May 2017
  • Publisher(s): Wiley
  • ISBN: 9781937352677