why strategic marketing matters
DESCRIPTION
This is for anyone who wants to understand or explain the difference between sales and marketing. I have used some well known banking collapses to show what happens if the sales department is not given the right strategic direction. Hope you find it useful.TRANSCRIPT
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© Market2win Ltd
By Edmund Bradford, Director, Market2win Limited
September 2009
OR
How great sales departments can ruin you fast!
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2006: A Good Year for Bear Stearns
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James E. Cayne, Chairman & CEO, Bear SternsPage 3, 2006 Annual Report
“Fifth consecutive year of record net income”
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But there is an even better sales force out there!
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2006: What a great year!
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...and on the same day, HBOS reports strong sales growth
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2007: Still looking good
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Another record sales year for Lehman Brothers!
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But by September 2008 the party is over
9Helping organizations win the marketing war
After 158 years of trading, Lehman Brothers is bust
After 85 years of trading, Bear Sterns is sold to JP Morgan for $10 per share
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August 5, 2009: The HBOS hangover continues
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Didn’t they die fast!
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Marketing Effectiveness
Sales Effectiveness
Low
Low
High
High
Thrive
Die Slowly
Survive
Die Quickly
Source: based on Prof. Malcolm McDonald’sThe Marketing Audit, page 12, 1991
•Lehman Brothers
•RBS•Northern Rock•Bradford & Bingley
•Bear Stearns•HBOS
•Equitable Life
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The moral of the story
12Helping organizations win the marketing war
If you have not done your marketing first, great sales functions can ruin you fast.
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© Market2win Ltd
www.market2win.comMarket2win Ltd, Minerva Mill, Station Road, Alcester, Warwickshire, B49 5ET
United Kingdom
Helping organizations win the marketing war