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IBC The Marketing Strategy Desktop Guide Second edition Norton Paley Thorogood Publishing 10-12 Rivington Street London EC2A 3DU Telephone: 020 7749 4748 Fax: 020 7729 6110 Email: info@thorogoodpublishing.co.uk Web: www.thorogoodpublishing.co.uk © Norton Paley 2007 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, photocopying, recording or otherwise, without the prior permission of the publisher. This book is sold subject to the condition that it shall not, by way of trade or otherwise, be lent, re-sold, hired out or otherwise circulated without the publisher’s prior consent in any form of binding or cover other than in which it is published and without a similar condition including this condition being imposed upon the subsequent purchaser. No responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication can be accepted by the author or publisher. A CIP catalogue record for this book is available from the British Library. ISBN PB: 978-185418490-0 RB: 978-185418491-7 Printed in the UK by Marston Digital. Designed and typeset in the UK by Driftdesign. Special discounts for bulk quantities of Thorogood books are available to corporations, institutions, associations and other organisations. For more information contact Thorogood by telephone on 020 7749 4748, by fax on 020 7729 6110, or e-mail us: info@thorogoodpublishing.co.uk Dedication To my family and especially to Annette – my wife, friend, and good-natured editor. Blank Norton Paley has over 25 years of corporate experience in general management, marketing management and product development at McGraw-Hill Inc, John Wiley & Sons and Alexander-Norton Inc. He has authored the following books: • The Strategic Marketing Planner • Action Guide to Marketing Planning and Strategy • Marketing for the Non-marketing Executive: An Integrated Management Resource Guide • The Marketing Strategy Desktop Guide • Pricing Strategies and Practices • Marketing Principles and Tactics Everyone Must Know • The Manager’s Guide to Competitive Strategies, 2nd Ed. • Successful Business Planning • Manage to Win In addition to advising management on competitive strategies and strategic planning, Paley also has extensive global experience lecturing to managers at such firms as American Express, Cargill (worldwide), Chevron Chemical, Babcock & Wilcox, Dow Chem- ical (worldwide), W.R. Grace & Co., Prentice-Hall, Ralston-Purina, Hoechst, and McDonnell-Douglas. Also, he participated in lecture tours in the Republic of China and Mexico. His byline columns have appeared in The Management Review and Sales & Marketing Management. About the author Throughout the Desktop Guide series of books you will see refer- ences and symbols in the margins. These are designed for ease of use and quick reference directing you to key features of the text. The symbols used are: Icons case study for example best practice Introduction 1 How to manage marketing in the 21st century 7 Chapter objectives .8 Marketing successes .11 Marketing strategy 14 Strategy teams .19 Identifying opportunities 21 Best practices .22 How to manage your marketing strategy (Part 1) 25 Chapter objectives .26 Primary strategy principles 27 Strategy applications 32 A focus on marketing strategy .41 Best practices .43 How to manage your marketing strategy (Part 2) 45 Chapter objectives .46 Part 1 – Marketing mix 51 Part 2 – External forces .53 Best practices .61 How to manage your competitor intelligence 63 Chapter objectives .64 Information, intelligence and decision-making .64 Developing a competitor intelligence system .67 Competitor intelligence model .68 Strategy applications 70 Marketing research techniques .73 Contents Types of data 74 Generating primary data 75 Use agents to improve competitive intelligence results .86 Best practices .89 How to manage your strategic marketing plans 91 Chapter objectives .92 The strategic marketing plan: a document for success .97 Marketing plan: one year 105 Best practices .108 How to manage your markets: The power of segmentation 109 Chapter objectives .110 Segmentation in action .110 Select a market segment .114 Eight additonal segment categories to pinpoint markets for greater accuracy 117 Portfolio analysis .122 Strength/weakness analysis .132 Best practices .137 How to manage your product strategy 139 Chapter objectives .140 Product life cycle 143 Product competition 149 Product mix 150 Product design .151 New products/ services .153 Product audit 162 Best practices .167 . Strategic Marketing Planner • Action Guide to Marketing Planning and Strategy • Marketing for the Non -marketing Executive: An Integrated Management Resource Guide. • The Marketing Strategy Desktop Guide • Pricing Strategies and Practices • Marketing Principles and Tactics Everyone Must Know • The Manager’s Guide to