... Intel as a time in the life of a
business when its fundamentals are about to change.” Banks had
to make changes with the advent of automated teller machines
(ATMs), and major airlines have to make ... 91
Leadership 94
Loyalty 97
Management 99
Marketing Assets and Resources 101
Marketing Department Interfaces 1 02
Marketing Ethics 106
Marketing Mix 108
Marketing Plans 1 12...
... such as B-47s or power plants or selling to large
national and global accounts. Today’s companies increasingly assign na-
tional and global account managers to manage their largest customers.
Account ... stay relevant and
few are sustainable. Advantages are temporary. Increasingly, a com-
pany wins not with a single advantage but by layering one advantage
on top of another over time....
... Insights from A to Z
ompetitive Advantage
22
Michael Porter popularized the notion that a company wins by build-
ing a relevant and sustainable competitive advantage.
17
Having a
competitive advantage ... bullet, that delivers the advantage.
A great company will have incorporated a set of advantages that all
reinforce each other around a basic idea. Wal-Mart, IKEA, and...
... today most advantages don’t stay relevant and
few are sustainable. Advantages are temporary. Increasingly, a com-
pany wins not with a single advantage but by layering one advantage
on top of another ... companies don’t want to be left behind, they
must anticipate change and lead change. The ability to change faster
than your competitors amounts to a competitive advantage.
Richard...
... and markets is a recipe for disaster.
Investors want to see a growing top line; employees want to
70 Marketing Insights from A to Z
the world’s military field glasses market; Tetra Food making 80 ... and a janitor was called in. Bill took the cleaning
solvent from the janitor and knelt down to clean the carpet
himself to spare the janitor from having to do so...
... to ceilings to total interior surface decoration.
• Citicorp thought that it had a substantial share of the banking
market but realized that it had only a small share of the total
financial market, ... liability. All a company needs is access to
physical assets. To operate as a lean company may call for decapitaliz-
ing—outsourcing activities and shrinking working capital. Th...
... be
teachers and teach others to be leaders.
Bad managers, in contrast, rely on command and control to get
their ideas carried out.
94 Marketing Insights from A to Z
CEO, and the head of marketing ... program may be a good
feature as part of a customer relationship management program, but
many loyalty schemes do not create loyalty. They appeal to the cus-
tomer’s ration...
... marketing practices that
have lost their edge. The marketing practices of many companies to-
day are obsolete.
122 Marketing Insights from A to Z
members in your customer database, but you can ... to evaluate a company or
competitor’s marketing effectiveness rather than to under-
stand customers’ needs or wants.
• Data mining. Companies with large customer databas...