Marketing is the matching of products and services to meet the needs of defined markets. Marketing is to selling what standardized production is to custom manufacturing: it enables efficiency in product design, manufacturing, promotion, selling and other business processes. Marketing enables:

  • Sales Efficiency: Sales professionals can sell, not do market research, product specification or develop their own communication
  • Standard Products, efficiently produced, competitively priced, suitable for multiple customers
  • Market focus: branding to prepare the ground for selling, efficient promotion and lead generation.

Marketing’s mission is business growth:

  • Identify, investigate, evaluate opportunities for growth and their financial impact
  • Develop alignment of Executive Team
  • Develop business plan for opportunity
  • Implement the “Marketing” part of the plan

Components of Marketing:

 

  • Strategic planning: articulating the paths to growth beyond the current sales cycle
  • Market Management: building success in designated markets
  • Product Management: insuring the continued success of specific product lines
  • Market research: learning before investing in anything new
  • Competitive analysis: understanding the competition to compete effectively
  • Marketing Communications & Lead Generation: successful only when informed by ALL other components of Marketing.

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