Is there such a thing as a template for a world-class marketing organization? I don’t know, however, there are certain key functions that are critical to the success of one. As I see it, there are 5 key pillars:
- Strategic Planning — Includes market assessment, competitive positioning and channel management with regards to profitability, share, leverage, etc.
- Products/Services — Product Development, Portfolio Management and Pricing
- Marketing Strategy & Execution —
- Brand Development/Extension and PR
- Segmentation & Customer Experience Management
- Budget Allocation
- Acquisition & Retention
- MarCom, Promotions
- Sales Support
- Operations — Website, eCommerce, Marketing Automation Platforms, Analytic tools, Social Media Monitoring tools, etc.
- Customer Satisfaction — Surveys, research through secondary data collected to help Strategic Planning and Product Development