Marketing, as a function and a basis for business growth, continues to be an elusive factor in corporate success. Fast-moving marketplaces and shifts in technology mean that most well-known and admired marketing campaigns succeeded in a totally different society and culture. Setting appropriate budgets, choosing the right integrated marketing mix and measuring the return on investment of different marketing programmes remains a perennial problem for many Marketing Managers.
Adding Value to Marketing examines the various challenges facing marketers today, from socio-cultural and demographic changes to market saturation, and the need for more segmented, targeted and cost-effective marketing policies. This book describes the techniques that will help Marketing Managers, Executives and Financial Controllers to focus on reducing costs and instead add value by: recognizing the changing dynamics of the global marketplace; budgeting for campaigns more effectively using techniques such as Activity Based Costing; transforming the marketing department from a revenue centre to a profit centre structure; and redefining the 4 Ps of your business- Product, Price, Place and Promotion- to examine whether they make sense in terms of your customer profile.