Marketing Right and Wrong….!

The Ten Deadly Sins of Marketing:

1.      The company is not sufficiently market focused and customers driven.

2.     The company does not fully understands its target customers.

3.     The company needs to better define and monitors its competitors.

4.     The company has not properly managed its relationship with its stakeholders.

5.     The company is not good at finding new opportunities.

6.     The company marketing’s plans and planning process are deficient.

7.     The company’s product and policies need tightening.

8.     The company’s brand—building and communications skill are week.

9.     The company is not well organized to carry on effective and efficient marketing.

10. The company has not made maximum use of technology.

                                                                                                                                     

The Ten Commandments of Marketing:

1.      The company segments the market, chooses the best segments, and develops a strong position in each chosen segments.

2.     The company maps its customers’ needs, perceptions, preferences, and behavior and motivates its stakeholders to obsess about serving and satisfying the customers.

3.     The company knows its major competitors and their strengths and weaknesses.

4.     The company builds partners out of its stakeholders and generously reward them.

5.     The company develops systems for identifying opportunities, ranking them, and choosing the best ones.

6.     The company manages the marketing planning system that leads to insightful long-term and short-term plans.

7.     The company exercises strong control over its product and services mix.

8.    The company builds strong brands by using the most cost-effective communication and promotion tools.

9.     The company builds marketing leadership and a team spirits among its various departments.

10.The company constantly adds technology that gives its competitive advantages in the marketplace.