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BUILDING LONG-TERM SUCCESS (Measuring marketing success (profitability,…
BUILDING LONG-TERM SUCCESS
Politics in business and managment
political context
Yaffee and Chadwick (2004)
develop strategies to interact and advance goals
identify how they influence progress of goals
disaggregating key players of specific political context
stakeholder analysis
idenitfiy relevant stakeholders
what is their interests
what are their views on the business
what strategies do they take to form coalitions
Hartley and Fletchers (2008) political astuteness framework
personal skills
interpersonal skills
reading peopel and situations
building alignment and alliances
strategic direction and scanning
Identifying leadership
Person- who leaders are that makes them so
Result- what leaders achieve that makes them so
Position-where leaders operate that makes them so
Purpose-why leaders lead that makes them so
Process- how leaders get things done
Measuring marketing success
profitability
sales
gross margin
awareness
marketshare
number of new products
relative price
customer satisfatcion
customer disatisfaction
distribution/availability
brand equity
customer equity
crisis managment
externally generated crisis
internally generated issues
consumer brand sabotage
employee brand sabotage
managing crisis
Tybout and Roehm (2009) 4 steps to managing sacdals
Griffin(2008) Top ten recommendations for best practice in crisis management
internal marketing
benefits
helps promote a coherent brand identity
provides focus for staff roles
supports building relationships with consumers
communications
line managemnet communication
team peer communication
project peer communication
corperate communication
types of employees
brand champions
brand agnostics
brand cynics
brand saboteurs
Relationship marketing
benefits
cost effective to retain than establish customers
retaining customers gives businesses profit over lifetime of a customer
customer loyalty
customer value
customer commitment
customer communication
types of relationships
classic
special market
mega
nano
operantional risk and resilience
risk - event to result in negative consequence
resilience- responding to unwanted events
hazards
supply chain e.g late deliveries/damaged deliveries
human capital e.g human error, incorrect training
technology-e.g computer system failures
customers e.g using product/service incorrectly
organisation e.g failure of internal processes
impact
likelihood
managing risk
reduce impact
reduce likeihood
improving performance - importance of performance matrix
stage 1- judging performance measures to consumers
stage 2 - judge performance against competitors
stage 3 - match performance against characteristics
stage 4 - develop plans for improvements
seven key tools to control quality
histogram
control chart
scatter diagram
pareto chart
checklist
cause and effect diagram
stratification
Importance of quality control
quality and business sustainability
quality management
responsibility of the whole organisation
individuals take ownership for delivering products and services
cost of quality
prevention costs
appraisal costs
internal costs of defects
external costs of defects
quality systems
requires expertise
can be expensive
quality assurance and quality control
quality assurance QA
quality control QC
