Value-based Marketing

Preface ix

About the Author xiii

PART I Principles of Value Creation

1 Marketing and Shareholder Value 3

Introduction and objectives

Managing in the twenty-first century

Measuring success: shareholder value

Marketing’s lost influence

Marketing’s new opportunity

The shareholder value principle

Challenges to shareholder value

Accounting-based performance measures

The changing role of marketing

Summary

2 The Shareholder Value Approach 36

Introduction and objectives

Principles of valuation

Shareholder value

Economic value added

Financial value drivers

Marketing value drivers

Organisational value drivers

Marketing applications of shareholder value

Limitations of shareholder value analysis

Summary

3 The Marketing Value Driver 73

Introduction and objectives

A new definition of marketing

Creating customer value

Building the differential advantage

Building relationships with customers

Implementing relationship marketing

Organisational requirements

The customer-focused organisation

Summary

4 The Growth Imperative 105

Introduction and objectives

Marketing, growth and shareholder value

Pathways to growth

Developing a growth strategy

Summary

PART II Developing High-Value Strategies

5 Strategic Position Assessment 151

Introduction and objectives

An overview

Assessing the current position

Explaining the current position

Projecting the future of the business

Implications of the strategic position assessment

The value-based plan

Strategic objectives

Summary

6 Value-Based Marketing Strategy 189

Introduction and objectives

Why strategic marketing plans?

Corporate level planning

Business unit planning

The planning process

Summary

PART III Implementing High-Value Strategies

7 Building Brands 227

Introduction and objectives

The role of intangible assets

The role of the brand

Brands and shareholder value

How to build brands

Issues in branding

Organising the brand portfolio

Valuing the brand

Summary

8 Pricing for Value 262

Introduction and objectives

Price and shareholder value

Pricing principles

Setting the price

Adapting prices to customers and products

Changing the price

Price management

Summary

9 Value-Based Communications 300

Introduction and objectives

Communications and shareholder value

Communications and customers

Developing a communications strategy

Allocating across communications channels

Valuing communications strategies

Summary

10 Value-Based Marketing in the Digital Age 325

Introduction and objectives

The growth and development of the Internet

Drivers of change in the new economy

Creating value through the web

Implications for marketing strategy

Building the brand on the Internet

Future perspectives

Summary

Glossary 350

The Advisory Board 351

Index 355