{"product_id":"marketing-and-finance-isbn-9781119953388","title":"Marketing and Finance","description":"\u003cp\u003eWritten for marketing and finance directors, CEOs, and strategists, as well as MBA students, this practical book explains the principles and practice behind rigorous due diligence in marketing. It connects marketing plans and investment to the valuation of the firm and how it can contribute to increasing stakeholder value. Completely revised and updated throughout, the \u003ci\u003eSecond Edition\u003c\/i\u003e features new case examples as well as a completely new first chapter containing the results of new research into risk and marketing strategies amongst Finance Directors and Chief Marketing Officers.\u003c\/p\u003e \u003cp\u003eForeword by Anne Godfrey, Chief Executive, CIM xi\u003c\/p\u003e \u003cp\u003eForeword by Charles Tilley, Chief Executive, CIMA xiii\u003c\/p\u003e \u003cp\u003eForeword From the First Edition by Sir Michael Perry, GBE xv\u003c\/p\u003e \u003cp\u003eA Note for Busy People: How to Get the Best Out of This Book  xix\u003c\/p\u003e \u003cp\u003eList of Figures xxi\u003c\/p\u003e \u003cp\u003eList of Tables xxv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 1 What is Marketing Due Diligence? 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 The lessons of experience 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFast track 3\u003c\/p\u003e \u003cp\u003eIntroduction 3\u003c\/p\u003e \u003cp\u003eSuccess stories 5\u003c\/p\u003e \u003cp\u003eStarbucks: A holistic offer based on insight and culture 5\u003cbr\u003e\u003cbr\u003e \u003ci\u003eThe Economist: Side stepping in time to the future 6\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eYamazaki Mazak: Matching itself to the market 7\u003c\/p\u003e \u003cp\u003eEssilor: Growing the pie 8\u003c\/p\u003e \u003cp\u003eFailure stories 9\u003c\/p\u003e \u003cp\u003eBlockbuster: Left behind 9\u003c\/p\u003e \u003cp\u003eGateway: Playing a zero-sum game 10\u003c\/p\u003e \u003cp\u003eMicrosoft’s Zune: So what’s better? 11\u003c\/p\u003e \u003cp\u003eNortel: Playing the wrong game 12\u003c\/p\u003e \u003cp\u003eWoolworth’s: Failure to focus 13\u003c\/p\u003e \u003cp\u003eSeeing a pattern 14\u003c\/p\u003e \u003cp\u003eFinancial smoke and mirrors 14\u003c\/p\u003e \u003cp\u003eShare and share alike 16\u003c\/p\u003e \u003cp\u003eMarketing accountability 16\u003c\/p\u003e \u003cp\u003eA new approach 18\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 A process of Marketing Due Diligence 21\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFast track 21\u003c\/p\u003e \u003cp\u003eWhat is marketing? 22\u003c\/p\u003e \u003cp\u003eWhat is the connection between marketing and shareholder value? 23\u003c\/p\u003e \u003cp\u003eWhat is the Marketing Due Diligence diagnostic process? 25\u003c\/p\u003e \u003cp\u003eExplicating the strategy 27\u003c\/p\u003e \u003cp\u003eAssessing the risks 29\u003c\/p\u003e \u003cp\u003eAssessing shareholder value creation 34\u003c\/p\u003e \u003cp\u003eWhat is the Marketing Due Diligence therapeutic process? 39\u003c\/p\u003e \u003cp\u003eImplications of the Marketing Due Diligence process 41\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 The implications of implementing Marketing Due Diligence 43\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFast track 43\u003c\/p\u003e \u003cp\u003eThe linkage to shareholder value 44\u003c\/p\u003e \u003cp\u003eThe risk and return relationship 45\u003c\/p\u003e \u003cp\u003eA focus on absolute returns rather than risk 48\u003c\/p\u003e \u003cp\u003eUsing probability estimates to adjust for risk 51\u003c\/p\u003e \u003cp\u003eAlignment with capital markets 56\u003c\/p\u003e \u003cp\u003eTurning Marketing Due Diligence into a financial value 57\u003c\/p\u003e \u003cp\u003eAdjusting marketing planning outcomes 57\u003c\/p\u003e \u003cp\u003ePlacing the adjusted financial return into context 58\u003c\/p\u003e \u003cp\u003eAllowing for ‘capital at risk’ 60\u003c\/p\u003e \u003cp\u003eHighlighting deficiencies and key risks 62\u003c\/p\u003e \u003cp\u003eImplications for users 63\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 2 The Marketing Due Diligence Diagnostic Process 65\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Assessing market risk 67\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFast track 67\u003c\/p\u003e \u003cp\u003eSome important background to what constitutes ‘success’ 68\u003c\/p\u003e \u003cp\u003eShort-term success 68\u003c\/p\u003e \u003cp\u003eStrategy and tactics 70\u003c\/p\u003e \u003cp\u003eThe strategic marketing plan 71\u003c\/p\u003e \u003cp\u003eMarket risk 71\u003c\/p\u003e \u003cp\u003eThe meaning of ‘product’ and ‘market’ 72\u003c\/p\u003e \u003cp\u003eCombining product and market 77\u003c\/p\u003e \u003cp\u003eProduct\/market growth or decline 78\u003c\/p\u003e \u003cp\u003eProduct and market combined 82\u003c\/p\u003e \u003cp\u003eMarket risk assessment 86\u003c\/p\u003e \u003cp\u003eConclusion 93\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Assessing share risk 97\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFast track 97\u003c\/p\u003e \u003cp\u003eWhat do we mean by share risk? 98\u003c\/p\u003e \u003cp\u003eHow do we assess share risk? 100\u003c\/p\u003e \u003cp\u003eAssessing target market risk 101\u003c\/p\u003e \u003cp\u003eAssessing proposition risk 103\u003c\/p\u003e \u003cp\u003eAssessing SWOT risk 106\u003c\/p\u003e \u003cp\u003eAssessing uniqueness risk 108\u003c\/p\u003e \u003cp\u003eAssessing future risk 110\u003c\/p\u003e \u003cp\u003eAssessing other sources of share risk 113\u003c\/p\u003e \u003cp\u003eAggregating and applying share risk 116\u003c\/p\u003e \u003cp\u003eStep 1: Explicate the marketing strategy 117\u003c\/p\u003e \u003cp\u003eStep 2: Assess the explicated strategy against the sub-components of share risk 117\u003c\/p\u003e \u003cp\u003eStep 3: Aggregate the sub-components into an overall assessment of share risk 119\u003c\/p\u003e \u003cp\u003eStep 4: Identify the growth component of the strategy 120\u003c\/p\u003e \u003cp\u003eStep 5: Moderate the growth component of the strategy to allow for risk 121\u003c\/p\u003e \u003cp\u003eStep 6: Allow for complex strategies 122\u003c\/p\u003e \u003cp\u003eThe outcomes of share risk assessment 122\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Assessing profit risk 125\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFast track 125\u003c\/p\u003e \u003cp\u003eIntroduction 126\u003c\/p\u003e \u003cp\u003eProfit pool risk 129\u003c\/p\u003e \u003cp\u003eProfit sources risk 135\u003c\/p\u003e \u003cp\u003eCompetitor impact risk 138\u003c\/p\u003e \u003cp\u003eInternal gross margin risk 142\u003c\/p\u003e \u003cp\u003eOther costs risks 144\u003c\/p\u003e \u003cp\u003eSummary 148\u003c\/p\u003e \u003cp\u003eWhat do weak marketing strategies look like? 148\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 3 The Marketing Due Diligence Therapeutic Process 151\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 The key role of market definition and segmentation 153\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFast track 153\u003c\/p\u003e \u003cp\u003eIntroduction 154\u003c\/p\u003e \u003cp\u003eCorrect market definition 155\u003c\/p\u003e \u003cp\u003eA crucial business discipline, not just a philosophical argument 155\u003c\/p\u003e \u003cp\u003eMarket mapping 158\u003c\/p\u003e \u003cp\u003eLeverage points 162\u003c\/p\u003e \u003cp\u003eMarket segmentation 165\u003c\/p\u003e \u003cp\u003eHow customers vary: Needs-based segmentation 170\u003c\/p\u003e \u003cp\u003eSome final thoughts 178\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Creating strategies that create shareholder value 181\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFast track 181\u003c\/p\u003e \u003cp\u003eStarting from where we are 181\u003c\/p\u003e \u003cp\u003eUnderstanding and managing market risk 183\u003c\/p\u003e \u003cp\u003eUnderstanding and managing product category and market existence risk 183\u003c\/p\u003e \u003cp\u003eUnderstanding and managing sales volume, forecast and pricing risks 189\u003c\/p\u003e \u003cp\u003eUnderstanding and managing share risk 191\u003c\/p\u003e \u003cp\u003eReducing target market risk 192\u003c\/p\u003e \u003cp\u003eReducing proposition risk 192\u003c\/p\u003e \u003cp\u003eReducing SWOT alignment risk 196\u003c\/p\u003e \u003cp\u003eReducing uniqueness risk 198\u003c\/p\u003e \u003cp\u003eReducing future risk 199\u003c\/p\u003e \u003cp\u003eOther components of share risk 200\u003c\/p\u003e \u003cp\u003eUnderstanding and managing profit risk 203\u003c\/p\u003e \u003cp\u003eReducing profit pool risk 203\u003c\/p\u003e \u003cp\u003eReducing profit source risk 205\u003c\/p\u003e \u003cp\u003eReducing competitor impact risk 206\u003c\/p\u003e \u003cp\u003eReducing internal gross margin risk 207\u003c\/p\u003e \u003cp\u003eReducing other costs risk 209\u003c\/p\u003e \u003cp\u003eSummary and conclusions 210\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Managing high-risk marketing strategies 211\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFast track 211\u003c\/p\u003e \u003cp\u003eAllowing for risk 212\u003c\/p\u003e \u003cp\u003eRisk equals volatility 213\u003c\/p\u003e \u003cp\u003eControllable versus uncontrollable volatility 214\u003c\/p\u003e \u003cp\u003eUsing real option analysis 219\u003c\/p\u003e \u003cp\u003eReal option example 223\u003c\/p\u003e \u003cp\u003eSummary 228\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Fast track: A summary and reminder of the marketing and finance interface 229\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe lessons of experience 229\u003c\/p\u003e \u003cp\u003eA process of Marketing Due Diligence 229\u003c\/p\u003e \u003cp\u003eThe implications of implementing Marketing Due Diligence 231\u003c\/p\u003e \u003cp\u003eAssessing market risk 232\u003c\/p\u003e \u003cp\u003eAssessing share risk 233\u003c\/p\u003e \u003cp\u003eAssessing profit risk 234\u003c\/p\u003e \u003cp\u003eThe key role of market definition and segmentation 236\u003c\/p\u003e \u003cp\u003eCreating strategies that create shareholder value 237\u003c\/p\u003e \u003cp\u003eManaging high-risk marketing strategies 238\u003cbr\u003e\u003cbr\u003e Afterword: What to do now 241\u003cbr\u003e\u003cbr\u003e References and further reading 243\u003cbr\u003e\u003cbr\u003e Index 245\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eProfessor Malcolm McDonald\u003c\/b\u003e was recently cited as one of the top marketing gurus in the world, along with Philip Kotler and Michael Porter and, in a 2006 Times HE piece, he was named as one of the top ten consultants in the UK. He is now Emeritus Professor at Cranfield University School of Management where, until recently, he was Professor of Marketing and Deputy Director. Formerly Marketing Director of Canada Dry, he is Chairman of six companies and works with many of the operating boards of the world’s biggest multinationals on every continent. He is the author of over 40 books, many of which have been translated into several foreign languages and has published hundreds of articles and papers. Malcolm continues to research and teach at Cranfield and other universities around the world, in addition to speaking engagements, visiting lectures, and consultancy work.\u003cbr\u003e \u003cbr\u003e \u003c\/p\u003e \u003cp\u003e\u003cb\u003eProfessor Brian D. Smith\u003c\/b\u003e is a world-recognised expert on competitive strategy in pharmaceutical and medical markets. He is Adjunct Professor at Bocconi SDA and Visiting Research Fellow at the Open University Business School, where his research interests include strategy making and implementation in medical markets. He is the editor of the \u003ci\u003eJournal of Medical Marketing\u003c\/i\u003e and the author of over 200 books, papers and articles in the field of marketing and competitive strategy. He also runs Pragmedic, a specialist strategy consultancy and works with many of the world’s leading pharma and medtech companies. Brian has over 30 years experience in medical technology and pharmaceutical markets in both R\u0026amp;D and commercial roles. He has been a member of the Chartered Institute of Marketing for over 20 years and is a former International Vice Chair of the Board of Trustees. He currently serves on the committees of two CIM groups, The Levitt Group and the Medical Marketing Group.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eKeith Ward\u003c\/b\u003e studied economics at Cambridge and then qualified as both a chartered accountant and a chartered management accountant. He worked both in the City and abroad as a consultant and held senior management positions in manufacturing and trading companies (the last being as group financial director of Sterling International). In 1981 Keith joined Cranfield School of Management, where he progressed to become Professor of Financial Strategy, as well as being Head of the Finance and Accounting Group and Director of the Research Centre in Competitive Performance. In addition to his academic work, he developed his own international consultancy practice. He then moved to a Visiting Professorial role at the School, while continuing with his research and consultancy interests, until retiring at the end of 2009. He is the author of a number of books including \u003ci\u003eMarketing Finance\u003c\/i\u003e. He has also published numerous papers and articles, and contributed to several other books, including as editor.\u003c\/p\u003e \u003cp\u003eThe truest sign that an executive has reached, or is on a trajectory towards a senior position is when they start to look outside of their own functional silo and consider business issues that normally lie within the remit of other departments. Nowhere is this more true than at the marketing\/finance interface. At this mission-critical boundary, senior marketers must understand the implications of their strategies not just for sales or profit, but on risk adjusted rate of return. Similarly, senior finance executive can no longer manage the numbers; they must make critical assessments of commercial goals and understand how alternative marketing strategies may create or destroy shareholder value.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eThe Marketing and Finance Solution\u003c\/i\u003e is the first book of its kind to address this interface, not from a marketing or finance angle, but from a combined perspective that incorporates leading knowledge in both disciplines. Written by three leading academics with decades of experience working across this functional boundary in major multinationals, \u003ci\u003eThe Marketing and Finance Solution\u003c\/i\u003e is a unique and essential addition to the library of senior marketing and finance professionals.\u003c\/p\u003e \u003cp\u003eThis updated, revised, 2nd edition of the critically acclaimed \u003ci\u003eMarketing Due Diligence\u003c\/i\u003e includes a re-written first chapter that compares effective and ineffective business plans to identify the fundamentals of commercially successful strategies. Filled with examples from both business-to-business as well as consumer markets from a wide range of sectors, this new edition includes a thorough update of those examples for the modern, post-financial crash world.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989574729957,"sku":"NP9781119953388","price":55.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119953388.jpg?v=1761784659","url":"https:\/\/k12savings.com\/es\/products\/marketing-and-finance-isbn-9781119953388","provider":"K12savings","version":"1.0","type":"link"}