Product details

By continuing to use our site you consent to the use of cookies as described in our privacy policy unless you have disabled them.
You can change your cookie settings at any time but parts of our site will not function correctly without them.

Abstract

When it comes to marketing, concentrating on the four Ps - product development, price determination, place of distribution, and promotion - no longer ensures competitiveness. Relying on short-term thinking, many companies base their marketing budgets on annual sales forecasts and then demand immediate results based on dollars spent. These companies are confusing cause and effect. They don''t realize that developing a "quality" customer base - loyal customers who yield high profits - can take many years. And quality is what matters for long-term success. Companies would do better treating marketing expenditures the same way they treat capital outlays: as investments that drive revenue over time. Many industry giants - Ivory Soap, Heinz Tomato Ketchup, and Ritz Crackers, to name a few - got that way through cumulative investment of years and even decades. Newcomers can leverage to beat the odds, however, and, with a shrewd strategy, turbocharge their returns.

About

Abstract

When it comes to marketing, concentrating on the four Ps - product development, price determination, place of distribution, and promotion - no longer ensures competitiveness. Relying on short-term thinking, many companies base their marketing budgets on annual sales forecasts and then demand immediate results based on dollars spent. These companies are confusing cause and effect. They don''t realize that developing a "quality" customer base - loyal customers who yield high profits - can take many years. And quality is what matters for long-term success. Companies would do better treating marketing expenditures the same way they treat capital outlays: as investments that drive revenue over time. Many industry giants - Ivory Soap, Heinz Tomato Ketchup, and Ritz Crackers, to name a few - got that way through cumulative investment of years and even decades. Newcomers can leverage to beat the odds, however, and, with a shrewd strategy, turbocharge their returns.

Related