Marketing: The Engine of the Business
April 15, 2018
The whole role and indeed what about marketing and brand are is often misunderstood and misused in many organisations. I was once told ‘all you need to do is a bit of marketing son and it will be sorted’…..oh dear I thought. Was this the best a CEO could to do inspire me that he actually had a clue what was needed on indeed what was actually going on in the market?
Having worked prior to becoming an academic in marketing related roles with organisations such as BBC Worldwide and Rupert Murdoch’s News Corporation on brands such as The Sun and the Sunday Times I have always considered Marketing as the key to a profitable business.
Marketing builds brands, positions organisations and their products and services in the market as well targets key audiences. When it is done well, we are oblivious to it happening when it’s done badly or not at all it has a profound negative impact on the bottom line. Marketing is far more important than the product or the service. Who really needs a Rolex to tell the time when it appears in the corner of our PC’s, tablets and smartphones? The answer is no one actually needs a Rolex but people aspire and desire ownership through careful and considered strategic marketing objectives.
At the other end of the market, we have fast food giants like McDonald’s the world’s most successful restaurant chain. Is it the best restaurant in the world or the best-marketed restaurant in the world? Does anyone really think their fries are actually better chips from their local chippy? Probably not. But the point is that great market leads to great business success. You can’t ignore marketing and by doing it well will have a huge positive impact on your bottom line.
My top tips are:
– Make sure your marketing plan supports your business plan.
– Use marketing strategically rather than just tactically.
– Split your marketing plan into short term, medium and long-term objective that is clearly set out in terms of timeline and measurements.
– Communicate clearly the business plan, aims and objectives and mission of the organisation in your marketing plan.
– The marketing plan is the engine of your business without which your journey is going to be a difficult one!
This blog was written by , Academic Planning and Marketing Director, Lancashire School of Business and Enterprise at the University of Central Lancashire.