CFO Series: Bridging the Gap with Marketing Mgt: the Four Ps

Overview

What should we know about marketing and what are the four 'P's of marketing? Many financial leaders are not sufficiently knowledgeable about the marketing function, marketing management, and measuring marketing results. When we know more, both functions can work collaboratively to help drive a superior bottom line. We can more accurately measure success, for example, in order to approve a cost-effective strategy to maintain and grow the business organically. We will discuss proven techniques to help your organization grow and thrive. Finance and marketing can and should help each other - we will show you how.

Prerequisites

At least six (6) months of professional financial statement analysis experience and a strong working knowledge of marketing and/or business development.

Objectives

• Identify four components of marketing
• Determine how finance and marketing can work collaboratively to drive superior financial performance

Highlights

The major topics covered in this course include:

• What is the function of Marketing?
  • Creating demand, building reputation.
  • Inform and educate customers and potential customers.
• Marketing plans
  • What must be in a top-quality plan?
  • Coordination with strategy and financial ability.
• Products and services
  • Why do customers buy, or not buy, your offerings?
  • Core products, actual products, augmented products?
• Price
  • Pricing is market driven, not cost driven!
  • Cost leaders vs differentiators?
  • When to increase price when to reduce price?
• Place or channels
  • Effective and efficient channels?
  • Alternative channels?
• Promotion
  • Promotion alternatives and cost effectiveness.
• Coordinating the 4Ps to gain maximum results.