Gurus On Marketing

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Dos and Don’ts in Scenario Planning DO • Scan the external environment. • Analyse the external factors that impact on the nature of your business. • Construct various scenarios using external factors as your context. • Create multiple futures facing your business. • Question your mental models. • Plan for and anticipate surprises. • Adopt a multi-disciplinary approach. • Assume ‘what if’ mindset. • Involve all staff. • Formulate strategies associated with each scenario. • Work out the action plan associated with each scenario. DON’T • Embark on the exercise of scenario building without conviction or commitment. • Consider scenario building as a window-dressing exercise. • Get stuck into one best strategy. • Work on existing assumptions. • Prepare a plan without specifying who should what and when. • Conduct a scenario-building exercise as a one-off event. 148 GURUS ON MARKETING
Benchmarking According to Philip Kotler 36 : ‘Companies normally learn about their competitors’ strengths and weaknesses through secondary data, personal experience, and hearsay. They can augment their knowledge by conducting primary marketing research with customers, suppliers and dealers. A growing number of companies are turning to benchmarking as the best guide to improving their competitive standing.’ What is benchmarking? Benchmarking is a method of improving business performance by learning from other organisations how to do things better in order to be the ‘best in the class’. The aim of a benchmarking is to improve upon the best practices of other organisations. Benchmarking originated in the USA in the late 1970s. Now 95 per cent of US companies say they are practising it. As far as Europe is concerned benchmarking seems to be well established. Coopers & Lybrand undertook a survey in 1994 covering The Times 1000 companies or their equivalent across five European countries: the United Kingdom, the Netherlands, Switzerland, Spain and France. The survey defined benchmarking as ‘the process of comparing business practices and performance levels between companies (or divisions within companies) in order to gain new insights and to identify opportunities for making improvements. The survey showed that over two-thirds of companies in the United Kingdom, the Netherlands and Switzerland, over half of French companies and a third of Spanish companies are using benchmarking techniques. Benchmarking is used across all of the principal business functions. TEN GURUS AND STRATEGIC ANALYTICAL TOOLS 149
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gurus on Marketing Sultan Kermally
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GURUS ON MARKETING SULTAN KERMALLY
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Dedication This book is dedicated t
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Acknowledgements This book would no
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About the author Sultan Kermally is
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Contents Introduction 1 The relatio
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SIX Tom Peters 89 Close to the cust
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Introduction Gurus are management t
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This book considers the following g
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Michael Porter Michael Porter is th
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Philip Kotler Philip Kotler is the
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Plan of the book The book begins by
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ONE The fundamentals of marketing T
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Kotler 3 then advocated the importa
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Characteristics of service They are
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• Consider the promotion budget.
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For example, if an organisation is
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Brand extension Brand extension is
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Marketing strategy Marketing strate
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According to Warren J. Keegan 11 :
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L M N O P Q R S T U V Listen to you
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TWO Peter Drucker Peter Drucker is
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The thinking was heavily influenced
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Where does Peter Drucker come in? S
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The customer as the decision-maker
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What do marketing gurus and writers
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Writers on marketing since Drucker
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Some organisations now use very sop
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THREE Theodore Levitt On marketing
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He put forward four conditions whic
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Marketing Myopia was a landmark art
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Decline After the maturity stage wh
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Nariman Dhalla and Sonia Yuspeh in
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Technological advances have resulte
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This was Professor Levitt’s semin
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FOUR Michael Porter Michael Porter
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4 the bargaining power of buyers, 5
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‘A market signal is any action by
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Criticisms of Porter’s Five Force
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in the buyer’s value chain, which
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A differentiation strategy This str
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Factors which are likely to make a
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Porter’s key publications • ‘
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FIVE Philip Kotler Kotler on market
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Marketing therefore is a process of
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and there is no further contact. Th
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The marketing plan should pay parti
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Micro perspective Kotler then moves
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Team-oriented approach seems to be
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Kotler’s perspective on strategic
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At the feet of Philip Kotler: Lesso
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SIX Tom Peters In terms of ‘guru
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Peters and Waterman highlight the f
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Closing remarks: A controversy ‘W
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The emphasis is on applying technol
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Page 115 and 116: tices. The patient generally gets w
Page 117 and 118: Peter’s key publications • Pete
Page 119 and 120: SEVEN George Day George day is Geof
Page 121 and 122: These strategies are similar to Por
Page 123 and 124: You cannot take an internally focus
Page 125 and 126: KNOWLEDGE@WHARTON Isn’t Ford’s
Page 127 and 128: ings. These included the high value
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Page 131 and 132: He has published extensively in var
Page 133 and 134: EIGHT Jagdish Sheth Dr. Jagdish She
Page 135 and 136: Various studies reinforce the point
Page 137 and 138: • To create value for clients the
Page 139 and 140: At the feet of Jagdish Sheth: Lesso
Page 141 and 142: NINE Thomas T. Nagle Nagle on prici
Page 143 and 144: • Understanding price sensitivity
Page 145 and 146: At the feet of Thomas Nagle: Lesson
Page 147 and 148: TEN Gurus and strategic analytical
Page 149 and 150: Existing product/new market Here th
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Page 153 and 154: General Electric Strategic Planning
Page 155 and 156: Shell Directional Policy Matrix She
Page 157 and 158: Opportunities In scanning the exter
Page 159 and 160: The STEP analysis (sometimes known
Page 161: STEP factors influence significantl
Page 165 and 166: ELEVEN Further information Suggeste
Page 167 and 168: • Porter, Michael. ‘Competitive
Page 169 and 170: 14 Drucker, Peter, ‘Innovation an
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Page 173 and 174: Thorogood publishing Thorogood publ
Page 175 and 176: Other titles The John Adair handboo
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