Any function has a value chain, in particular if it is an operational / business one. And Marketing is one.
The framework we are suggesting is an old one applied by McKinsey. It is around the value creation in the business. It starts with selecting the value to create, which is mainly around segmentation. Then the
value needs to be created in a marketing sense, which means defining the
value proposition and doing pricing. Last the value needs to be promoted, what often is labelled as marketing communication.
The important message is that the more marketing is integrated, the more the value chain is effective and efficient. Separating marketing communication from what people often label as strategic marketing is the first mistake when wanting to improve the marketing effectiveness.
In more details this is divided in 10 steps as follows:
1- Market research (what is needed)
2- Segmentation (to whom to offer)
3- Offering (what to offer)
4- Product / offering positioning
5- Price management
6- Comparative / competitive analysis
7- Content creation
8- Lead generation
9- Opportunity support
10- Loyalty / Aftermarket marketing
Interested? Please contact Consulting4Growth at contact form.