Marketing_Management_14th_Edition-min

646 PART 8 CREATING SUCCESSFUL LONG-TERM GROWTH
TABLE 22.11
The Marketing Excellence Review: Best Practices
Poor Good Excellent
Product driven Market driven Market driving
Mass-market oriented Segment-oriented Niche-oriented and customer-oriented
Product offer Augmented product offer Customer solutions offer
Average product quality Better than average Legendary
Average service quality Better than average Legendary
End-product oriented Core-product oriented Core-competency oriented
Function oriented Process oriented Outcome oriented
Reacting to competitors Benchmarking competitors Leapfrogging competitors
Supplier exploitation Supplier preference Supplier partnership
Dealer exploitation Dealer support Dealer partnership
Price driven Quality driven Value driven
Average speed Better than average Legendary
Hierarchy Network Teamwork
Vertically integrated Flattened organization Strategic alliances
Stockholder driven Stakeholder driven Societally driven
performance than promotion. They must go electronic and win through building superior information
and communication systems.
The coming years will see:
• The demise of the marketing department and the rise of holistic marketing
• The demise of free-spending marketing and the rise of ROI marketing
• The demise of marketing intuition and the rise of marketing science
• The demise of manual marketing and the rise of both automated and creative marketing
• The demise of mass marketing and the rise of precision marketing
To accomplish these changes and become truly holistic, marketers need a new set of skills and
competencies in:
• Customer relationship management (CRM)
• Partner relationship management (PRM)
• Database marketing and data mining
• Contact center management and telemarketing
• Public relations marketing (including event and sponsorship marketing)
• Brand-building and brand-asset management
• Experiential marketing
• Integrated marketing communications
• Profitability analysis by segment, customer, and channel
The benefits of successful 21st-century marketing are many, but they will come only with hard
work, insight, and inspiration. New rules and practices are emerging, and it is an exciting time. The
words of 19th-century U.S. author Ralph Waldo Emerson may never have been more true: “This
time like all times is a good one, if we but know what to do with it.”