Advanced Marketing Solutions That Can Help Your Business to Grow
According to Philip Kotler, marketing must be strengthened with advance marketing solutions. Many new products are failing at a high rate. Many do not encourage advertising campaigns in the customer’s mind. Direct mail and e-mails rarely reach an acceptable response rate.
Many products are revealed as commodities exchangeable rather than powerful brands. It is not surprising that CEOs are asking for more responsibility on the part of marketing. They want their experts to provide financial estimates of ROI, before and after each campaign. No responsibility for profit, marketing budgets will continue to be the first to be reduced when companies cut costs.
What are these deficiencies Kotler says in his book The Ten Deadly Sins of Marketing?
- The company is not sufficiently market focused and customer-oriented.
- The company knows its customers well.
- The company does not control its competitors.
- The company mismanaged its relationship with stakeholders.
- What the company does is not good at finding new opportunities.
- The marketing planning process is a deficient company.
- They have to strengthen policies for products and services of the company.
- Efforts branding and company communications are weak.
- The company is not well organized to carry out the marketing.
- The company has not used the technology to the fullest.
I think, from these comments made by the number one strategic marketer, the reader will understand better what this new edition of my book indicated.
Causes and solutions of the ten deadly sins of Kotler
The marketing is in bad shape. No marketing theory, but practice. Any new product or service must be supported by a marketing plan or roadmap that provides a return that compensates for the corresponding investment of time and money. But then, why they fail 75% of new products, services, and businesses?
It is assumed that marketing has to determine the strategy of the company. The work of professionals in marketing is seeking new opportunities for the company and carefully implement segmentation and positioning to target new business in the right direction.But today, too many marketing departments do not address this entire process. Much of marketing is reduced to a single function: promotion.
We could go on, but we have said most importantly marketers increasingly have to face greater challenges in trying to preserve company margins and achieve profit targets this. To compound matters further, many companies are inefficiently organized from a marketing perspective.
Complementing this inefficiency with all these challenges is a safe option for disaster, therefore, on the following sheets try to identify deficiencies that prevent most prominent marketing companies succeed in the market.
1. The company is not sufficiently focused on the market and consumer-oriented
- Deficient identification of market segments.
- Insufficient prioritization of market segments.
- Lack of market segments managers.
- Adopt more advanced segmentation techniques, such as benefit segmentation, value segmentation, and loyalty segmentation.
- Prioritize the most important segments.
- Specialize the sales force.
2. The company does not fully meet your target customers
- The latest consumer survey was done three years ago.
- Consumers are not buying at the expected pace: the competing products are selling better.
- There is a high level of returns and customer complaints.
- Conduct a more thorough market.
- Use more analytical techniques.
- Establish customer and dealer panels.
- Install software marketing relationship with customers and perform data mining.
3. The company needs to define better and control their competitor’s
- The company is focusing excessively on his closest competitors and is overlooking most distant competitors and disruptive technologies.
- The company lacks a system that can collect and distribute competitive intelligence.
- Appoint a person or office responsible for competitive intelligence.
- Hire employees from the competition.
- Be aware of any new technology that may harm the company.
- Prepare similar to those of competitors offers.
4. The company has not managed good relations with its stakeholder’s
- Employees are not satisfied.
- It has not attracted the best suppliers.
- You do not have the best distributors, and their dealers are unhappy.
- Investors are not satisfied.
- Moving from a philosophy of zero-sum to positive-sum.
- Better manage employees.
- Better manage relationships with suppliers.
- Better manage distributors and sellers.
- better manage investors.
5. What the company does is not good at managing new opportunities
- The company has not identified any striking opportunity in recent years.
- Most new ideas that launched the company have failed.
- Designing a system to stimulate the flow of new ideas generated by works
- Systems use creativity to generate new ideas.
6. The marketing planning process is deficient company
- The marketing plan lacks logical or appropriate components.
- The plans lack a means for simulating the financial implications of alternative strategies.
- The plans lack contingency planning.
- Establish a standard plan format including situational analysis, SWOT / SWOT tactics most important aspects, objectives, strategies, budgets and controls.
- Ask marketers what changes they would make if they were given 20% over budget, or 20% less.
- Organize an annual awards program marketing in which awards the best plans and studies are delivered.
7. We must strengthen policies for products and services company
- The company has too many products, and many are losing money.
- The company is offering many services for free.
- The company is not strong in the cross-selling of their products and services.
- The company must establish a system to identify the weakest products and improve them or delete them.
- The company has to offer and charge for services rendered at different levels.
- The company needs to improve its processes for cross – selling and upselling.
8. The capabilities of branding and corporate communication are weak
- The target market does not know much about the company.
- The brand is not considered special or better than other brands.
- The company allocates budget to the same tools of marketing with approximately the same amounts each year.
- The company makes very little impact assessment ROI (return on investment) of its various promotional programs.
- Improve branding strategies and measurement of results.
- Allocate money to those marketing tools that demonstrate effectiveness cre-sufficient.
- Develop a financial mindset marketers and make ROI estimate the impact before making their budget requests.
9. The company is not well organized to carry out an efficient marketing
- Marketing director does not seem to be very efficient.
- The staff lacks some marketing skills needed in the XXI century.
- There are bad vibes between marketing/sales and other departments.
- Appoint a stronger leader of the marketing department.
- Develop new skills in the marketing department.
- Improve marketing relationships with other departments.
10. The company has not made maximum use of technology
- The company has made minimal use of the internet.
- The automation system is outdated sales.
- The company has not entered any automation market.
- The marketing group lacks models to support decision making.
- The marketing group needs to develop marketing dashboards.
- Internet use more.
- Improve the sales automation system.
- Apply market automation decisions daily routines of marketing.
- Develop models of formal marketing decisions.
- Develop marketing dashboards.
Ten advance marketing solutions for efficient marketing
- The company must segment the market, choosing the best segments and develop a strong position in each segment.
- The company must map the needs, perceptions, preferences and customer behavior. Then you must motivate your team to strive to provide solutions and satisfy customers.
- The company must meet its major competitors and their strengths and weaknesses.
- The company must constantly interact with their stakeholders.
- The company has set up systems to identify opportunities, categorize and choose the best.
- The company has to manage a marketing planning system plans to provide short, medium and long term.
- The company has to exercise strong control over the mix of products and services.
- The company must build strong brands using communication tools and more profitable promotion.
- The company has to create marketing culture and a team spirit among its various departments.
- The company must constantly be providing technological innovations that provide a competitive advantage in the market.