INSEAD Library

Includes index

Digitized

Improve Your Marketing to Grow Your Business Insights and Innovation that Drive Business and Brand Growth Contents Acknowledgments ................................................................................... xi About the Author ................................................................................... xiii Foreword ................................................................................................. xv Preface .................................................................................................. xvii Introduction............................................................................................ xix Part I Foundation Principles and Building Blocks of the New Marketing Capability................................... 1 Growth Is Now Priority One......................................................................3 What's New: The Trends That Are Reshaping Marketing........................ 4 The Marketing-Led Growth Model........................................................... 9 From Function to Core Capability: The Role of Marketing Redefined ................................................................................................ 10 Drive Top-Line Revenue Growth by Building Brand Equity................. 12 Brand Building Is the Wisest Investment for Sustainable Growth.................................................................................. 12 This Is Not Your Father's Brand Building............................................... 13 Growth as a Process Captured in Marketing Software ...........................14 Summary.................................................................................................. 16 Chapter 1 Open Your Mind to the New Marketing............................ 3 Chapter 2 Four Principles Supporting the New Marketing Capability.................................................... 17 Reorient So That Customers Are the Drivers of Marketing, Not the Target.......................................................................................... 18 Reengineer Your Marketing Processes .................................................. 22 Rethink Your Marketing Organization ................................................... 25 Redesign Your Marketing Technology: Enterprise Systems Rather Than Point Solutions..................................................... 26 Summary.................................................................................................. 30 Chapter 3 Building Blocks of the New Marketing Capability..... 31 What Is an Insight, and Why Is It Important? ...................................... 31 Moments of Truth.................................................................................. 32 Insights Generation as a Process .......................................................... 34 Knowledge Management....................................................................... 34 Insights-Generation Tools..................................................................... 35 Value Proposition ................................................................................. 38 Financial Pro Forma.............................................................................. 38 Summary................................................................................................39 Chapter 4 Translating Insights into Innovation for Brand Financial Growth....................................... 41 Cheryl Perkins....................................................................................... 47 Summary................................................................................................57 Chapter 5 Measuring Consumer Engagement ............................. 59 A New Industry Standard of Measuring Effectiveness and Efficiency of Customer Engagement.....................................................62 Summary................................................................................................68 Part II Dispatches from the Leading Edge of the New Marketing.................................................... 69 Chapter 6 Integration of Technology and Marketing................... 71 From Backwater to Mainstream: Why IT Hasn't Served Marketing Well to Date......................................................................... 72 Transforming a Financial Services Brand with a New Marketing and Technology Platform............................................ 78 Jim Garrity and Bob DeAngelis ........................................................... 81 Chapter 7 Open Innovation and New Product Development Through Communities of Practice............................. 89 Larry Huston .........................................................................................90 Bill Veltrop............................................................................................ 97 Chapter 8 Brand Building Through Global Brand Growth.......... 99 "The Globalization of Jack" ..................................................................101 Mike Keyes............................................................................................ 102 Chapter 9 Growth Through Brand Portfolio and Risk Management..................................................... 113 The Mission of the Brown-Forman Portfolio ..................................... 114 Super-Premium Margins: The Key to Portfolio Management............ 115 The Portfolio Return on Investment from Brand Renovation............. 116 The Scientific Method of Resource Allocation................................... 117 Case in Point: Jack Daniel's in China.................................................. 118 The Role of Leadership: Owsley Brown and Resource Allocation Modeling............................................................................ 120 Brand Value ........................................................................................ 121 Business Process and Technology Are Key to Brand-Building Success.......................................................................122 The Role of the Marketing Function .................................................. 123 Chapter 10 Insights-Led Brand Building in Technology............ 125 Peter Boland.........................................................................................127 Summary..............................................................................................137 Chapter 11 Marketing Knowledge Centers................................. 139 What Is a Marketing Knowledge Center?........................................... 140 An MKC Can Help Solve Problems.................................................... 141 What Is the Value of an MKC?........................................................... 142 Four Types of Marketing Knowledge..................................................142 How to Best Manage Knowledge ....................................................... 143 Focus: Gillette Global Marketing Resource Center............................ 145 Marci Sapers........................................................................................ 145 Chapter 12 The New CM0.......................................................... 153 The Marketing and IT Functions Merge: Chief Marketing Officer................................................................................ 153 Focus on Hyatt: Tom O'Toole ............................................................ 156 Part III How to Get It Done..................................................167 Chapter 13 Managing Information.............................................. 169 Streaming Marketing Information to Be Agile ...................................170 Collaboration and Continuous Improvement...................................... 173 Knowledge and Information as Input.................................................. 175 The Role of Technology in Facilitating the Capitalization of Knowledge....................................................................................... 176 Summary.............................................................................................. 178 Chapter 14 Metrics and Building the Culture of Accountability 179 The Culture of Accountability............................................................. 181 The Attitude of Accountability............................................................ 181 For What Should Marketing Be Accountable?....................................183 Measuring Marketing Results for ROI.................................................185 The Correlation Between Attitudes and Behavior Has Been Proven..................................................................................186 How We Can Track Marketing's Effect on Attitudes and Behavior ....................................................................................... 187 New Technologies for Marketing Accountability .............................. 187 Putting the New Marketing Accountability to Work...........................189 Influence Each Touch Point to Improve ROI...................................... 190 Summary.............................................................................................. 192 Chapter 15 Communities of Practice for Consumer Connection and Open Innovation ............................................... 193 Larry Huston, COP Defined................................................................ 194 Partnership with the Consumer............................................................196 The Power of Cross-Functional Teams and COPs.............................. 196 Mike Keyes, Communities of Practice: Taking Lynchburg on the Road ......................................................................................... 198 Building a Value Network................................................................... 199 Preserve Peasant Wisdom, Yet Break Down Walls............................ 199 Mike Keyes, Rural Images ..................................................................200 The More Knowledge You Have, the More You Realize How Much More You Need to Know..................................................200 Summary.............................................................................................. 200 Chapter 16 Empowering Change from the Top Down................ 201 Tom Falk.............................................................................................. 202 Push Growth Boundaries Beyond Traditional Limits..........................203 Create the Ability to Develop and Apply Insights ..............................205 Apply Positive Risk Management........................................................209 Get the Insights to Market Quickly......................................................210 Leading the Way to Breakthrough Growth..........................................211