Marketing As Strategy: Understanding the CEO's Agenda for Driving Growth and Innovation Review

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Marketing As Strategy: Understanding the CEO's Agenda for Driving Growth and Innovation ReviewWith increasing pressures on CEOs to deliver profits in the short term and increasing concerns of Board members about financial reporting requirements, the corporate agenda is less and less likely to include marketing issues. Yet in every organization, it is marketing's answers to the who?, what? and how? questions that build the growth engine of the enterprise. Professor Kumar explains why leaders must have their eyes on the marketing ball.
Though Professor Kumar is a marketing academic, his book is useful not just for marketers, but also for CEO's and general managers. He convincingly argues why marketing must be elevated from the tactical responsibility to sell more of our products and services to a strategic influence in the future direction of the organization.
To do this, he suggests that marketing no longer employ the traditional four Ps model of product, promotion, price and place (distribution) but rather a more strategic approach he calls the Three Vs: valued customer (who to serve), value proposition (what to offer) and value network (how to deliver).
With practical suggestions and examples, he details a menu of seven marketing initiatives that will drive growth and innovation in all organizations. The seven transformational initiatives along with some questions from the checklists provided are:
1.From Market Segments to Strategic Segments: Who are our valued customers?; Which customers are unhappy with current offerings in the industry?; Is the target large enough to meet our sales objectives?; What is our value proposition?; Does it fit the needs of customers we are trying to serve?; What benefits are we delivering?; Can we deliver and earn a profit?
2.From Selling Products to Providing Solutions: Do we guarantee customers outcomes and benefits instead of product performance?; Have our sales people developed consulting skills and deep industry knowledge?; Have we developed effective processes to allocate resources to solution projects?
3.From Declining to Growing Distribution Channels: What service outputs will the new channel provide?; How will the relative importance and power of existing channels change?; Which competitors will enter the new channel?; What changes in channel incentives to existing members will competitors try? What new competences do we need to enter the new channel?
4.From Branded Bulldozers to Global Distribution Partners: Have we identified our most valuable clients on a worldwide basis?; Are there single points of contact for global customers?; Have we optimized our supply chain for global efficiency?; Have we harmonized pricing structures?
5.From Brand Acquisitions to Brand Rationalization: Which brands are contributing to our profits?; What needs-based segments exist in each category?; How much sales revenue would we risk by deleting non-core brands?; What is the role of the corporate brand?; How will we articulate our program to stakeholders?
6.From Market-Driven to Market-Driving: Are new ideas routinely imported from the outside?; Do we tolerate failures and have processes in place to learn from failures?; Do we mix people on teams to generate new ideas?; Do we ensure that radical ideas do not lose resources to incremental ideas?
7.From Strategic Business Unit Marketing to Corporate Marketing: How does the organization rate on customer focus in processes, including new product development, order fulfillment, customer relationship management?; Is the organization organized around customers?; Are metrics and rewards related to impact on customers?; Does the organization systematically learn about customers?
Read this important new book to learn how to live up to today's pressing challenges of identifying new markets, keeping prices up and retaining customers.Marketing As Strategy: Understanding the CEO's Agenda for Driving Growth and Innovation OverviewThis is a wake-up call for marketers on what CEOs want and how to deliver it...CEOs are more than frustrated by marketing's inability to deliver results. Has the profession lost its relevance? Nirmalya Kumar argues that, while the function of marketing has lost ground, the importance of marketing as a mind-set-geared toward customer focus and market orientation-has gained momentum across the entire organization. This book challenges marketers to change their role from tactical implementers of traditional marketing functions-like advertising and promotion-to strategic coordinators of organization-wide, transformational initiatives aimed at profitably delivering value to customers. Kumar outlines seven strategy-focused, cross-functional, and bottom-line oriented initiatives that can put marketing back on the CEO's agenda - and elevates its role in shaping the destiny of the firm.

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