Profit - the role of world class strategic marketing planning

Published on January 1, 2012   45 min

A selection of talks on Strategy

Please wait while the transcript is being prepared...
0:00
My name is Professor Malcolm McDonald. I'm a Professor of Marketing at Cranfield, Warwick, Aston, Bradford and Henley Business Schools and I'm also Chairman of Brand Finance PLC.
0:16
Recently, a Harvard Business Review article spelled out that most directors in America don't even understand what the components of a strategy are. For my part, I say that any operating board of directors that cannot list in order of priority its key target markets and what its sources of differential advantage are against each of those key target markets is really likely not to be very successful. When I talk about key target markets, I'm talking about markets in terms of needs, not in terms of the products that they make or the services they make. Those boards of directors that can't answer those simple questions are probably spending most of their time on profit and loss accounts. Many of you listening to this and watching it will understand that profit and loss accounts usually have one line for revenue and many lines for costs, and directors spend most of their time looking at the costs. What I want to do today is to open up the world of revenue. As you'll see from the title, it is 'Profit - The Role of World Class Strategic Marketing Planning'.
1:38
You will see from this slide that the agenda consists of a session on why we need marketing planning. A brief session on where to begin the process and most of this session will be about the process itself. First, however, I should like to make just a few preliminary points to put into context the whole of the presentation.

Quiz available with full talk access. Request Free Trial or Login.

Hide

Profit - the role of world class strategic marketing planning

Embed in course/own notes