why strategic marketing matters
DESCRIPTION
This is for anyone who wants to understand or explain the difference between sales and marketing. I have used some well known banking collapses to show what happens if the sales department is not given the right strategic direction. Hope you find it useful.TRANSCRIPT
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By Edmund Bradford, Director, Market2win Limited
September 2009
OR
How great sales departments can ruin you fast!
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2006: A Good Year for Bear Stearns
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James E. Cayne, Chairman & CEO, Bear SternsPage 3, 2006 Annual Report
“Fifth consecutive year of record net income”
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But there is an even better sales force out there!
Helping organizations win the marketing war slide 4
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2006: What a great year!
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...and on the same day, HBOS reports strong sales growth
Helping organizations win the marketing war slide 6
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2007: Still looking good
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Another record sales year for Lehman Brothers!
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But by September 2008 the party is over
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After 158 years of trading, Lehman Brothers is bust
After 85 years of trading, Bear Sterns is sold to JP Morgan for $10 per share
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August 5, 2009: The HBOS hangover continues
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Didn’t they die fast!
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Marketing Effectiveness
Sales Effectiveness
Low
Low
High
High
Thrive
Die Slowly
Survive
Die Quickly
Source: based on Prof. Malcolm McDonald’sThe Marketing Audit, page 12, 1991
•Lehman Brothers
•RBS•Northern Rock•Bradford & Bingley
•Bear Stearns•HBOS
•Equitable Life
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The moral of the story
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If you have not done your marketing first, great sales functions can ruin you fast.
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www.market2win.comMarket2win Ltd, Minerva Mill, Station Road, Alcester, Warwickshire, B49 5ET
United Kingdom
Helping organizations win the marketing war