In the context of managing and improving marketing performance, the concept of marketing audit should play an important role as a comprehensive process of diagnosing and improving the marketing systems, processes, tools and principles an organization has currently in place.
The current blog post on marketing performance management investigates Michael Porter’s five forces model that facilitates the analysis of the competitive forces that appear in a particular business situation.
United States of America tops the list of the best country brands in 2009, followed by Canada and Australia. The Country Brand Index rankings revealed by FutureBrand for several years now is recognized as the most complete and thorough evaluation of a country brand.
The results from the annual Marketing Survey conducted by Unisfair reveal interesting findings regarding what marketers see as top priorities for the year 2010 and what they expect to obtain from their marketing efforts. As the study shows, it seems that traditional marketing goals such as customer retention and brand awareness lose ground in favor of the generation of as much as possible sales leads.
One of the surprise articles in the July-August 2010 edition of the Harvard Business Review (HBR) is ‘The Execution Trap‘, written by Roger L. Martin, Dean of the Rotman School of Management at the University of Toronto and Professor of Strategic Management at the same school. Its publication comes as a surprise as traditionally, HBR has been favoring articles promoting strategy execution and the separation between formulation and execution. The support of the publication in promoting Kaplan & Norton’s ideas over the last 15 years was an important contributor to the ascent of strategy execution as a “buzzword”.
The article clearly states the author’s position right from the tagline: “Drawing a line between strategy and execution almost guarantees failure”. It reviews the recent history of the separation idea, mentioning names of proponents such as Jamie Dimon (now CEO of JPMorgan Chase) and Larry Bossidy (former AlliedSignal CEO). The phrase that encapsulates best some of the challenges in today’s management thinking is: “…[the] doctrine…is as flawed as it is popular. That popularity discourages us from questioning the principle’s validity.”