Internal politics are often the bane of any Marketing Manager’s existence. There is always a strong undercurrent at most marketing conferences where Marketing Managers try to figure out how to get a “seat at the table”. If you are in that category — you need to read Nirmalya Kumar’s book, Marketing as Strategy. It attacks the marketing framework from a CEO’s perspective and will help in framing larger questions to ask that will help you to level up and start to see the larger business picture. (Helping you to earn your seat at the table.)
In particular, three questions posed by Kumar can help any marketer to begin to think more broadly, which should reveal potential strategies for success — and this is the time for it with Strategic Marketing Plans due shortly.
- Are there customers who are either unhappy with all of the industry’s offerings or are not being served at all?
- Can we offer a value proposition that delivers dramatically higher benefits or lower prices, compared with others in the industry?
- Can we radically redefine the value network for the industry with much lower costs?
I recommend starting with question number one and working your way systematically through each question. But, if you can answer these three questions, you’ll find the soft spot in your marketing landscape which will allow you to arrange your Strategic Marketing Plan to leverage that opportunity for success.
The soft spot in the marketing landscape should reveal the next big opportunity to expand into by a business operating in your space — if it’s not you, it may well be a competitor or a new entrant to the marketplace. And while it may feel like there haven’t been many new entrants to the marketplace in your industry in the last few years, never fear, the economy will eventually turn around and there will be entrants who are willing and able to exploit these opportunities as the economy improves — it might as well be you.
Get going — make a plan and work moving your business actively into the future.
- Published: November 15, 2012
- Author: Tisha Oehmen
- Blog: Finding Brand Blog
- Category:
- Tags: Consulting, economy, marketing, Marketing and Advertising, marketing plan, marketing strategy, Strategic, value proposition
- Comments:
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These are 3 very important questions to ponder upon. These are worth considering both for new and old marketers. Thanks for sharing this useful info.
When you state that internal politics is the \”bane\”, I couldn\’t agree more. I partner with several brand consultants and this is often the challenge, especially with our municipal clients. \”Politics\” seems to get in the way of logical and rational thought. We have included early brand workshops which define the meaning of brand, how it should perform, what the return can be. Political agendas usually derail the process. Thanks for your post. I will read on!
Hey Tisha,
A very relevant share!! You have set the rules of the game, with this post. The fundamental aim for any sort of marketing effort is to capture a relatively good share of the market. These three questions can surely bring the best of the results for new businesses. Thanks for sharing this valuable piece.
hi! i just want you to know that you have a very great post. Thank you so much for sharing this great post!
it’s a privileged for us reading this! superb job!
Facilitative share Tisha . These are inarguably relevant questions and each question should be worked out systematically . I am a newbie so a good piece of advice for me .
Finding what you can provide in a crowded industry is the key to standing out. Whether you feel that you can provide competitive services or goods at a lower price, or whether you can provide a better than average service at a more premium price, finding your niche within the industry is vital. Making this a goal for your company can help you keep working towards it. Ensuring that all of your employees are also aware that this is the goal, can help them stay motivated and invested in the company.