savings that would more than offset the price reduction needed in selected markets. Given that the brand had a dominant (strangle hold) share, and we were preparing to launch an away from home TV advertising campaign in key markets the brand risks were low. Some minimal merchandising was lost but overall brand recognition was extremely high. Margin was enhanced with the manufacturing savings. Competition had to go deeper with price discounting, but that strategy did not work successfully because consumers believed their product was inferior given their reactionary deeper lower price point.
In summary when I started my career in marketing managers had to be very fluent in understanding consumer needs and wants. That was the key thrust for any marketing manager. Later in my career and with the creation of the CMO role the commitment to total business understanding was critical. Manufacturing, P&L expertise, trade understanding, customer service, production planning, logistics, sourcing, international trade relations etc. became an important aspect of the marketing manager role.
The collaborative role marketing executives must play is very important to long term success. Looking holistically at all aspects of the business is key. Matter-a- fact in many instances people not close to your business or specific marketing discipline may have unique ideas to address the needs of the brand.
I specialize in a general management focus on marketing. Understanding many aspects of your business provides a deeper insight that will be very beneficial long term. If you are a small to mid-sized company and need assistance, I can be reached at the address below.
Marketing Leadership Group email@example.com 949-861-1916