Which marketing model from the last 100 years gets your vote?
To mark our centenary, we’re running a live poll for members. Vote now for the marketing model from the last 100 years that you think is the most valuable to today’s marketers.
Chance to win highly acclaimed new book
Cast your vote now and enter your email address for your chance to win the prize draw. Two lucky winners will receive a copy of Professor Laurie Young’s new book, The Handbook of Marketing Techniques: Explanation, Analysis, Appropriateness and Application. This is hot off the press from Wiley Publishers and looks at marketing models and their usefulness in a world of marketing change.
Live poll, live results
As the poll is live, you’ll be able to see the latest results every time you visit. Votes close at the end of June with the final verdict on the most valued marketing model, and prize draw winners announced in July 2011.
1. 7 Ps – marketing mix
Product, Price, Place, Promotion, People, Process and Physical evidence - these elements of the marketing mix form core tactical components of a marketing plan.
Unique Selling Proposition is the concept that brands should make it clear to potential buyers why they are different and better than the competition.
3. Boston Consulting Group Matrix
This model categorises products in a portfolio as Stars, Cash Cows, Dogs and Question Marks, by looking at market growth and market share.
4. Brand positioning map
This model allows marketers to visualise a brand’s relative position in the market place by plotting consumer perceptions of the brand and competitor brands against the attributes that drive purchase.
5. Customer Lifetime Value
Customer Lifetime Value is the concept used to assess what a customer is worth, based on the present value of future revenue attributed to a customer’s relationship with a product.
6. Growth strategy matrix
Ansoff’s matrix identifies alternative growth strategies by looking at present and potential products in current and future markets. The four growth strategies are market penetration, market development, product development and diversification.
7. Loyalty ladder
This model shows the steps a person takes before becoming loyal to a brand as they move through the stages of prospect, customer, client, supporter and advocate.
As an extension of the traditional PEST model, this analysis framework is used to assess the impact of macro-environmental factors on a product or brand - political, economical, social, technological, legal and economic.
9. Porter’s Five Forces
The five forces are Rivalry, Supplier power, Threat of substitutes, Buyer power and Barriers to entry and are used to analyse the industry context in which the organisation operates.
10. Product Life Cycle
This model plots the natural path of a product as it moves through the stages of Introduction, Growth, Maturity, Saturation and Decline.
11. Segmentation, Targeting and Positioning
This three stage process involves analysing which distinct customer groups exist and which segment the product best suits before implementing the communications strategy tailored for the chosen target group.
PR Smith’s acronym stands for Situation, Objectives, Strategy, Tactics, Actions, Control and is a framework used when creating marketing plans.
There’s been a divide of opinions so far. View the videos to see who key opinion leaders in the industry are voting for.
Member centenary discounts
We’ve arranged for all CIM members to receive a 20% discount on Professor Laurie Young’s book, The Handbook of Marketing Techniques: Explanation, Analysis, Appropriateness and Application.You can order now and save almost £8 off the retail price with free postage and packing when ordered through CIM Direct by emailing or telephoning them on 01628 427427 for your discount.
And, members can order the Institute’s book, The Marketing Century: How Marketing Drives Business And Shapes Society. Written to celebrate the Institute’s centenary, you can pre-order it for just £12.50 including free postage and packing when ordered through CIM Direct by emailing or telephoning them on 01628 427427 for your discount. The title shows how key elements of marketing have developed and how the discipline of marketing may develop in the future. This special commemorative book is a must read for all marketers. Download the flyer for a full synopsis of the book.