The Complete Marketer: 60 Essential Concepts for Marketing Excellence

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		The Complete Marketer: 60 Essential Concepts for Marketing Excellence
		The Complete Marketer: 60 Essential Concepts for Marketing Excellence

What is 'the marketing mix'? Is marketing a concept, function or process? How do you construct a good SWOT analysis? What are the strategic marketing benefits of key account management? The Complete Marketer is a solid introduction to the marketing discipline, which is broken down into easily digestible chapters on topics such as digital marketing, understanding consumers, understanding markets, market audits, segmentation, sales forecasting, mobile marketing, advertising and PR, and managing a sales team. It features clear diagrams and definitions throughout to make concepts easy to understand.

Malcolm McDonald and Mike Meldrum have simplified the discipline of marketing by translating the jargon and creating an encyclopaedia of marketing terms, concepts and fundamentals. They have applied their marketing know-how to every aspect of the marketing mix, making The Complete Marketer an invaluable resource for general managers, non-qualified marketers and students taking a module in marketing as part of a broader degree course.

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The reader will come away with a very complete understanding of the aspects of marketing and I would highly recommend this book.

There are 7 parts to this book and include chapters related to each part, covering a total of 60 discussions..

Part 1: Understanding the basics of marketing
Includes discussions on the discipline of marketing, marketing mix, customer retention strategies, & world-class marketing.

Part 2: Different types of marketing
Includes discussions on marketing consumer, industrial, service, high-tech products, capital goods, category management, and international & global marketing.

Part 3: Marketing in the digital age
Includes discussions on internet, social media, mobile and database marketing.

Part 4: Understanding customers
Includes discussions on consumer & organizational buying behavior, and domestic & international marketing segmentation.

Part 5: Understanding markets
Includes discussions on marketing information and research, preparing a marketing research brief, auditing a market, the Boston Consulting Group Matrix, the Directional Policy Matrix, & the Ansoff Matrix.

Part 6: Managing the marketing mix
Includes discussions on branding, the product life cycle, innovation, developing new products, pricing strategies, sales promotion, advertising, PR, sponsorship, personal selling, managing a sales team, key account management, channel strategy, customer service strategies, & integrated marketing communication and distribution channels.

Part 7: Planning and Control
Includes discussions on forecasting sales, marketing planning, international product planning, organizational structure and marketing, budgeting for marketing, legal issues, due diligence, & metrics.

The authors provide the Top Ten Market Research Topics:
Market-share analysis Economic Forecasting
Market Potential Competitor products
Market Characteristics Pricing Studies
Sales Performance Product Testing
Business Trends Information Systems

With over 45 notable ideas that I wrote down to be integrated into this review, I will provide a few quotes here.

On Market Segmentation: "...is a process that identifies different requirements for people who buy, and as such is the key to successful marketing...(and) remains one of the most misunderstood and elusive of marketing skills and is often taught incorrectly in business schools and written about incorrectly in marketing books...poor segmentation is at the core of most business failures. At its heart are a number of judgments or insights that an organization makes about its customers, which rely on the skill, experience and creativity of the individuals involved. Too often, managers see markets as a series of fixed segments that are described in terms of the products they use...The Golden Rule: Select a segment and serve it. Do not straddle segments and sit between them."

On Customer Retention Strategies: "Many organizations concentrate on developing strategies to expand sales through market share dominance, market penetration, finding new markets and product range expansion. The main reason for focusing on these is that research has show than size, revenue growth and dominance are usually positively correlated with long-term survival and profitability. Recent work, however, has questioned the universality of these approaches, arguing that the cost of winning new customers is high and that, for many organizations, it will be more cost-effective to concentrate on retaining existing customers than attracting new ones."

On a Marketing Audit: "...is the means by which a company can understand how it relates to the environment in which it operates...can identify its own strengths and weaknesses as they relate to external opportunities and threats. It is thus a way of helping management select a position in that environment based on know factors and is the basis of a marketing plan and a key input to any longer term strategic or business plan...the purpose of a marketing plan is to answer three central questions in relation to its markets and its competitors within those markets.
1) Where is the organization now?
2) Where does the organization want to go?
3) How should the organization organize its resources to get there?

The audit provides the information from which the first of these questions is answered. Just like a financial audit, a marketing is a systematic, critical and unbiased appraisal of an organization's position; but in this case its position with respect to its market environment and its marketing operations."

The Complete Marketer
BY Malcom McDonalds and Mike Meldrum
Publisher: KoganPage

Subtitled 60 essential concepts for marketing excellence this book provides a broad sweep of marketing concepts and information
.
Written as a text book it provides information on the concept of marketing; types of marketing; understanding the market and customers; use of social media and digital technologies; and the planning and developing strategy for a marketing program.

The information is comprehensive, while still being a readable format for the average small business person.

A useful resource on marketing and getting a business strategy right.

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