Advice for Marketing Executives During Tough Times

Marshall Goldsmith

Q: Do you have any specific suggestions for marketing executives in this challenging climate? During hard times companies often cut back on marketing budgets. As business becomes more competitive, marketing executives face increasing pressure to demonstrate the value that their function is adding to the firm. This can lead to a crisis of credibility and a loss of power for the marketer. Align yourself with the rest of your executive team.

Does a Mentor have to Breathe?

In the CEO Afterlife

Most importantly, the implications and action steps became an ‘easy sell’ to my team. I came up through marketing; quite honestly, during my years in marketing I hadn’t given much thought to HR. Prahalad and Henry Mintzberg joined me as silent colleagues. To most of us, mentors are people of experience and knowledge who help the less experienced advance their careers and/or their education.

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Introducing 100 Coaches: Pay It Forward Champions

Marshall Goldsmith

Deepa Prahalad – Focused on design and emerging markets. Rod MacKenzie – Executive Vice President, Chief Development Officer for Pfizer, member of Pfizer’s Executive Leadership Team. Telisa Yancy – Chief Marketing Officer at American Family Insurance. Former HR Director and member of executive management team at the National Irish Bank. Former SVP at Citi in both marketing and business development roles. Dave Meltzer – CEO of Sports 1 Marketing.

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A New Framework for Customer Segmentation

Harvard Business Review

Her confession was blurted out in the midst of our first conversation about the new digital marketing strategy which we would eventually advise them on: "You know, I don''t think I believe in segmentation anymore." In others, marketers were still adamant that segmentation was the only way to go, but couldn''t explain its benefits. It represents the new job to be done for us all of us in marketing. Customers Marketing

Why Entrepreneurs Will Beat Multinationals to the Bottom of the Pyramid

Harvard Business Review

Prahalad and Stuart Hart’s seminal book The Fortune at the Bottom of the Pyramid gained a wide audience when it was published in 2004 and has continued to be widely read ever since. The book was a call to action to the world’s largest companies to develop new products for the four billion people living on $4 a day or less—a market representing what was in effect the new frontier for corporate expansion.

The Power of Intent

Harvard Business Review

A fellow business leader complained the other day that although he had repeatedly sought feedback, his team had never told him what they really thought about his management style. My plate is full and my team knows that.". Prahalad and Gary Hamel referred to that in an award-winning HBR article Strategic Intent.

To Profit from Doing Good, Start Small

Harvard Business Review

Leaders of these companies now believe that "doing good" can be a powerful strategy for growing markets, stimulating innovation, motivating employees, tapping into new talent pools, and actually reducing costs. Bring your team together to identify ways that you can operate with greater sustainability and then set stretch targets. Prahalad called the bottom of the pyramid. Billions of poor and underprivileged people constitute the largest untapped market in the world.

Get Your Organization to Run in Sync

Harvard Business Review

It may be possible to create alignment among the leadership team, but that consensus will break down once the individual members return to their working groups. Prahalad called this concept strategic intent. Apple and Google, of course, have been successful across a variety of market contexts. It is easier to formulate a story based on market analysis than it is to promote better organizational health. Hundreds of consumers standing in line at your local Apple store.

Get Your Organization to Run in Sync

Harvard Business Review

It may be possible to create alignment among the leadership team, but that consensus will break down once the individual members return to their working groups. Prahalad called this concept strategic intent. Apple and Google, of course, have been successful across a variety of market contexts. It is easier to formulate a story based on market analysis than it is to promote better organizational health. Hundreds of consumers standing in line at your local Apple store.

Patagonia's Provocative Black Friday Campaign

Harvard Business Review

Sisodia , he states that mission-led businesses outperform the market by an astounding 9:1 ratio (that's innovation by any measure at 1111%). From the executive team to the warehouse staff, employees actually live the life of their core customers: the " Dirt Bag " as they fondly call them. The well-known article on core competencies by Prahalad and Hamel (1991) best defines and lays out this rigorous task.

End the Religion of ROE

Harvard Business Review

Conversely, why market cigarettes? He reasoned that if marketers worked on maximizing return on sales, production managers were rewarded for the sales they squeezed out of their physical plant, and finance managers focused on minimizing the amount of equity capital they needed, ROE would take care of itself. In their pursuit of margin, marketers sought market power even to the point of monopoly, requiring antitrust laws to cry stop at the last moment of the end game.

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