Marketing Management – Essay Example

Marketing Management The ‘Ten Capabilities and Philosophies’ of Procter and Gamble as prescribed by Kotler and Keller are as follows: Knowledge
Product Innovation
Quality Strategy
Aggressive Sales Force
Manufacturing Efficiency
Brand Building
Service Management
Scale
Go-to-Market Capabilities
Cost Cutting
The most important capabilities and philosophies which apply directly to the success of marketing are as follows:-
Customer knowledge and understanding: It is the utmost important to know about the customers’ needs and wants in order to succeed in the market and sustain for a longer period. Procter and Gamble has been successful enough in maintaining good relationship with the customer and in studying the needs and wants of both end-consumers and trade partners through research and intelligence.
Product Innovation: For a company like Procter and Gamble, it is very important to innovate and develop such products which possess cutting edge technology. With the pace of development of the science and the technology, the products and the services must also develop. Innovation will help to differentiate the products within the same category that will act as competitive advantage which is required to emerge as a market leader.
Product Quality and Services: This is again a vital key to the success of the company. It is very important for the companies to design product range that is above the average quality and also there must be continuous improvement.
Aggressive Sales Force: It is important for Procter & Gamble to have such a sales force that has the capabilities to continuously form close ties with the retailers, suppliers, and customers.
Go – to - Market Capabilities: This philosophy hold supreme importance for the success of the company. The companies must have capabilities to become the preferred supplier and the industry leader. It must have clear and precise company strategies, branding initiatives, strong business fundamentals and innovative marketing programs.
Bibliography
Kotler, P., & Keller, K., (2009). Marketing Management. New Jersey: Prentice Hall. 13th Ed.