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Marketing in the 21st Century

Marketing in the 21st Century
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Lack of preparation is every manager's nightmare.

Do you find yourself needing to get up to speed on a particular subject in time for an important meeting or event? Are you struggling to find both the time and the patience to track down the most appropriate material?

Then look no further than Emerald Management Briefings! Management Briefings provide you with a detailed insight into your chosen topic and comprise up to six specially-selected articles from the 40,000-strong Emerald Fulltext article database which is selected by 98% of the world's 100 top business schools as listed by the Financial Times.

Not sure what to expect? Have a look at this sample of an Emerald Fulltext article to find out.

You will need the Adobe Acrobat reader to view this article and to view our Management Briefings.


Back in the 1960s, a marketing revolution took place. Primarily driven by the introduction of the television into millions of homes across America and Europe, companies quickly began to realize the potential of this new medium for selling products.

On the back of this, marketing became extremely influential - a "wunderkind driving corporate strategy and growth" according to 3M marketing director Allan J. Magrath. Whilst the golden age of marketing may have dimmed somewhat, there is little doubt about the influence it still holds. Even so, the harsh changes wrought upon the business world through the effects of terrorism and economic hardship have led many organizations to ask themselves searching questions about the ways in which they interact with their customers. For sure the new media revolution has opened up many avenues of opportunity, but it has also contributed significantly to today's syndrome of "information overload."

In this environment, companies have a tough job on their hands. Use this Management Briefing to make sure you keep abreast of all of the latest developments.

Articles:

Creating "insatiable demand" - leverage the demand chain to expand your customer base and your revenue
Umbrellas always sell well when it is raining. After a major hurricane hit Miami last year, Home Depot shipped in plywood from nearly every store in the southeast and still couldn't keep up with the demand. Profiting by creating natural disasters is, of course, the stuff of comic books and spy novels, but recognizing and satisfying unmet needs is the key tenet of the demand chain.

Originally published in the Handbook of Business Strategy Volume 5 Number 1 2004

Understanding brand's value: advancing brand equity tracking to brand equity management
Once strictly the purview of the marketing department, savvy organizations now see the value in using brand as a focal point for their overall business strategies. Many are using it as a guidepost for internal actions and interactions with customers and other key stakeholders. C-level executives, led by the chief executive as brand champion, keep a keen eye on how their actions impact on brand equity, which in turn has an effect on the overall value of the business.

Originally published in the Handbook of Business Strategy Volume 5 Number 1 2004

Seven ways to hold fast to your customers
It's a fact - customer retention boosts the bottom line. Here's how to keep them happy, even in tough economic times. Want to nearly double your company's profitability without having to cut costs, increase prices, or find new customers? Impossible? Not according to some studies, which show that even a small improvement in customer retention can increase profitability by as much as 95 percent. Sharply higher profits, simply by holding onto your existing customers.

Originally published in the Handbook of Business Strategy Volume 5 Number 1 2004

Data strategy: a critical component of marketing success
Companies spend millions of dollars toward the compilation of data, and that doesn't even include human capital costs. But to what end? Do companies truly make the best use of customer data to reach, influence, and service their customers? Or are they missing the mark in capitalizing on their data assets?

Originally published in the Handbook of Business Strategy Volume 5 Number 1 2004

Why "sales force effectiveness" isn't
Is there a management team that hasn't been seduced by the revenue-boosting, cost-slashing mantra "sales force effectiveness"? The phrase, used broadly to encompass both a wide range of sales force automation and related CRM (customer relations management) initiatives, as well as revamped sales-force training and incentive systems, activity audits, customer satisfaction surveys, and personnel reshufflings, has triggered massive amounts of corporate spending in recent years - nearly $12 billion on CRM applications alone in 2002, according to Forrester Research, a figure that Forrester projects will almost double in the next five years.

Originally published in the Handbook of Business Strategy Volume 5 Number 1 2004

Marketing failed us again
"Oh no! The new marketing campaign had a lower-than-expected return. I guess marketing did not do its job! No more monies for that campaign, or perhaps others for that matter ...". Marketers hear this comment all too often. "Blame the agency (or the internal marketing department); it's their fault!" Unfortunately, it is everyone's fault, from the sales rep to the customer-service executive to the top-level managers to the marketing director to the receptionist. Unless your agency or internal marketing team understands and values the implementation and tracking stages as much as the fun strategy and creation phase, this scenario will occur more often than not.

Originally published in the Handbook of Business Strategy Volume 5 Number 1 2004

Creating the brand-driven business: it's the CEO who must lead the way
GE, Sony, Hallmark, Intel, Xerox, Procter & Gamble, IBM, some of these corporations dominate the business-to-consumer space. Others, business-to-business. What they have in common goes far beyond the fact that they are great companies or the fact that their great brands command a tremendous amount of equity.

Originally published in the Handbook of Business Strategy Volume 5 Number 1 2004

Corporate taxonomies can open up the big picture
What separates companies that survive from ones in overdrive? One answer is a corporate taxonomy. This new twist on the practice of strategic segmentation helps a diverse company keep its market segments in an overall, strategic perspective, permitting it to adapt more easily to new opportunities. It affords the big picture that allows companies to seize new opportunities.

Originally published in the Handbook of Business Strategy Volume 5 Number 1 2004

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