The organizations that have built the greatest brands in the world are marketing-driven. www.Interbrand.com ranks the 2009 top ten global brands as:
The differences between being a product/service driven organization and a marketing driven organization are significant as is their approach to planning and strategy. There are lessons to be learned here for the small business owner.
1. Marketing driven organizations think of themselves as brands, not products or services. As such, they understand that when consumers purchase, it represents the consumer entrusting themselves to the brand promise.
2. Marketing driven organizations champion the contents of their marketing plan as the fundamental guiding principles for their business. This means that the marketing plan (a comprehensive document encompassing, at its most basic, the essential 5 Ps) appears at or near the beginning of their strategic planning process.
3. Marketing driven organizations are actually customer-driven brands. The two descriptions are synonymous. As the needs and wants of the target customer are the focal point for the marketing plan, and as the marketing plan is the strategic compass for the organization, their actions are always aligned with the customers needs and wants. If a given action it doesn’t align with the marketing plan, then it also doesn’t fit the customer. So they don’t take that action.
4. Marketing driven organizations understand that marketing is not the same as advertising. Marketing is a strategic function undertaken to develop products/services, pricing models, distribution strategies and promotional tactics to fit the needs and wants of a segment of the consuming population. Conversely, advertising is a promotional effort aimed at influencing and persuading a target market to take some action.