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Continuing the brief incursion in the most widely known instruments and models used in managing and improving marketing performance, today’s post explores two concepts traditionally used in a strategy management context: the SWOT analysis and the PEST analysis.
Marketing as a discipline has benefited from the contribution of a great number of thinkers, both academics and practitioners. They have proposed several theories, models and instruments studied and used by people and organizations worldwide.
The process of creation is very important in music. In order to create great symphonies you have to be results-orienteted, metrics driven and always think outside the box. The same applies to performance management.
A simple answer is over-reliance on measurement and its merits.
Since ancient times, humans had a fascination with measurement. In discovering the natural universe, measurement has its merits and one might say it is indispensable.
Literature reveals that the influence of Marketing on firm performance, especially on the bottom line, has been extensively explored, mainly from a resource-based view (RBV) perspective (Hooley et al. 2005; Fine 2009; Nath, Nachiappan & Ramanathan 2010). It seems natural to estimate that Marketing (no matter its forms: Market Research, Marketing mix etc.), as long as it generates sales, impacts in a positive manner the bottom line.
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