Marketing: trust the process

There’s no denying that businesses and the broader economy are in a period of significant turbulence. As we navigate an uncertain future it is crucial that we continue to understand how our organisation connects itself with the core aspect of any business; the customer.

Marketing offers such an understanding by working as the interface between the company and the customer. In all the disorder of recent times it might be easy to overlook marketing, but successful businesses are still the ones that understand and connect best with their customers.

So, how do successful organisations use marketing to build connections with new customers and retain existing customers? Perhaps it can be linked to those that effectively understand and execute a complete marketing process.

When analysing a market, it is important to be able to pull apart and critically evaluate what makes businesses effective and efficient. To do this you need to understand how businesses operate. As in all facets of business there are processes; Processes for Human Resources Management, Operations Management, Financial Management. All these require steps to be taken in order to manage the process. It is the same for Marketing but with a twist, there are also subprocesses that fine tune the marketer’s skill set. But let’s start at the beginning and look at the core process for marketers which can be stated as R, CB, STP, 4P’s, P, I, and E. Let’s explain this more.

First you must research the environment within which the potential product offering will be marketed (R = Research). (Please note that I have deliberately not stated an actual product yet. You will find out why later.) So, you need to research the market environment in terms of factors you have very minimal control over (the macro environment) and those that you do have some influence on (the microenvironment). It is by understanding what is happening in the market that you can develop those things that work for you (your strengths and opportunities) and those that could hinder you (weaknesses and threats). Yes, this research develops your SWOT analysis.

From this analysis you develop your guiding marketing initiative, 1/ to grow should there be an opportunity to leverage off your strengths, or, 2/ to protect should the weaknesses and/or threats be a pressing concern. Now you develop your measurable objectives for the campaign.

Importantly you need to understand your customer and how they make decisions (CB = Consumer Behaviour) in order to understand how to communicate to them during this subprocess of consumer decision making.

Now that you understand what value the customer is seeking you can divide the total market into different segments based upon different values each segment is seeking. (STP = Segmentation, Targeting and Positioning). For instance, a car just gets you from A to B. However, some want a car that goes fast from A to B, some want a car that makes them look good getting from A to B, some want a car that can safely get the family from A to B. So even within the car market there are different values for different segments. You, as the marketer, now create a perception of the product offering based upon the value the targeted segment is seeking.

You can now develop that potential product further and create that actual product (P no. 1) based upon that perception.

You now use a sub process to develop a promotional campaign (P no. 2) focussing on creating a message that portrays the value you are offering.

You now use the subprocess of pricing (P no. 3) to develop a price that reflects the value you are offering to the customers in relation to your competition.

You now use the subprocess of distribution (P no. 4) to understand what intermediaries are required to get your product to the customer.

Now comes the easier part. You write up the plan (P) and, when doing so, think about how and when you are going to implement it (I) and how you are going to evaluate it (E).

By understanding this process and its subprocesses, you can now apply these marketing principles to any organisation, be it a “for profit” or “not for profit” organisation. You can now break apart and critically review the individual steps in the process to fine tune and create that effective and efficient marketing campaign that all businesses seek; you become the master of the marketing campaign. Most importantly, you keep working, and applying proven skills and processes in a new and uncertain environment, an economic environment in which you not only survive, but thrive.

After finishing his trade apprenticeship, travelling, and then working in the performing arts for 17 years, Dr Pentecost decided to upskill and completed his MBA and then his Ph.D. Since then he has published in numerous international journals, presented his research in many countries, winning the best paper award at the International Retailing Conference held in Romania, and co-authored a Marketing Research text. He has taught over 23 different marketing courses including Marketing Principles, Marketing Research, Consumer Psychology and Strategic International Marketing.