Adopt the techniques needed to help manage budgets and campaigns effectively, including recognizing the changing dynamics of the marketplace and implementing activity-based costing for marketing activities.
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.
David P. Doyle (MBA, DipM, DipStats, GradMMII) a marketing and management accounting expert, is a visiting professor in management control at the HEC School of Business and in strategic cost control at ESSEC Business School, near Paris. He is also the author of Cost Control (also published by Kogan Page) which has been translated into six languages. He has lived in France since 1975, where his career has spanned roles in trade promotion, advertising, financial and budget control and strategic marketing.