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Is Your Company Practicing Marketing Excellence?

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What is Marketing Excellence and is Your Company Measuring up to it?

Marketing excellence is implementing marketing best practices where the firm delivers exceptional value to customers, vendors, and other stakeholders. The chart below, adopted from Phillip Kotler, the father of modern marketing, is a marketing excellence review. Analyzing your marketing activities and developing a profile that identifies where you think the business stands with respect to each line can highlight where the firm can make changes to reach excellence in the marketplace.

The rows are segmented into poor, good, and excellent categories. For a firm to claim marketing excellence, they need to have their orientation in the excellent column.

PoorGoodExcellent
Product drivenMarket DrivenMarket Driving
Mass-market orientedSegment-orientedNiche-oriented and customer-oriented
Product offerAugmented product offerCustomer solutions offer
Average product qualityBetter than average product qualityLegendary product quality
Average service qualityBetter than average service qualityLegendary service quality
End-product orientedCore-product orientedCore-competency oriented
Function orientedProcess orientedOutcome oriented
Reacting to competitiorsBenchmarking competitiorsLeapfrogging competitors
Supplier exploitationSupplier preferenceSupplier partnership
Dealer exploitationDealer supportDealer partnership
Price drivenQuality drivenValue driven
Average speedBetter than average speedLegendary speed
HierarchyNetworkTeamwork
Vertically integratedFlattened organizationStrategic alliance
Stockholder drivenStakeholder drivenSocietally driven

 

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