Marketing recommendations are often prescribed in response to changes in the environment. Certainly economic periods, as well as social and political issues, have significantly influenced recent marketing conditions.
While the ability to react to environmental influences is important, this behavior begs the question, “Are there any universal rules for marketers?” According to Philip Kotler of the Kellogg School of Management, here are the top three:
1. Understand your target customers and solve their problems in a better way than your competitors.
2. Build your brand promise that is delivered by everyone in your business network.
3. Innovate continuously in your products, services, and supply chain.
So how do these rules affect today’s business marketing?
First, product and service development driven by market research and customer feedback will produce a more solutions-driven product instead of building on corporate competitive advantages or technology. This means providing a process for and encouraging your front lines to listen, analyze, and actively submit criticism, accolades, or suggestions.
Second, companies need to ensure that everyone – from employees through to each distribution channel – embodies and executes on the commitments backing your brand. To accomplish this, companies need to both monitor and maintain brand equity, and provide training and support to the entire channel.
Third, the resources needed for inventive advancements require the process to be perpetual. Considerable thought, teamwork, and resources are required for developing for the future, whereas changes in response to current circumstances may only provide a temporary improvement, and can even be detrimental to a long term strategy.
By understanding and adhering to universal marketing rules, your company will maintain a stronger foothold on your marketing strategy and core business values through both strong and slow economic periods.
About the Author
Gary Ritkes oversees all Business Development and Marketing at SproutLoud. He has been a pioneer in the emerging vertical of Distributed Marketing Technology and is an industry leader and innovator with 20+ years experience in graphic communications and marketing strategy. Gary has been involved with SproutLoud since the inception of the company. Prior to joining SproutLoud, Gary was VP of Marketing for Rex Three, Inc., SproutLoud’s first and largest vendor among its network of providers. He has served many Fortune 1000 clients and worldwide advertising agencies in providing marketing technology direction and optimization. He was an original founder of U.S. based Earth Color Group and a co-founder of Advanced Digital Services (ADS) which was sold in 1996 to publicly traded Katz Digital Technologies. He is a current board member of the local Advertising Federation chapter and has served as a member for other national industry associations including the DMA, AGA, and the CMO council.More Content by Gary Ritkes