Marketing and Finance

Foreword by Anne Godfrey, Chief Executive, CIM xi
 
Foreword by Charles Tilley, Chief Executive, CIMA xiii
 
Foreword from the First Edition by Sir Michael Perry, GBE xv
 
A note for busy people: How to get the best out of this book xix
 
List of figures xxi
 
List of tables xxv
 
Part 1 What is Marketing Due Diligence? 1
 
Chapter 1 The lessons of experience 3
 
Fast track 3
 
Introduction 3
 
Success stories 5
 
Starbucks: A holistic offer based on insight and culture 5
 
The Economist: Side stepping in time to the future 6
 
Yamazaki Mazak: Matching itself to the market 7
 
Essilor: Growing the pie 8
 
Failure stories 9
 
Blockbuster: Left behind 9
 
Gateway: Playing a zero-sum game 10
 
Microsoft's Zune: So what's better? 11
 
Nortel: Playing the wrong game 12
 
Woolworth's: Failure to focus 13
 
Seeing a pattern 14
 
Financial smoke and mirrors 14
 
Share and share alike 16
 
Marketing accountability 16
 
A new approach 18
 
Chapter 2 A process of Marketing Due Diligence 21
 
Fast track 21
 
What is marketing? 22
 
What is the connection between marketing and shareholder value? 23
 
What is the Marketing Due Diligence diagnostic process? 25
 
Explicating the strategy 27
 
Assessing the risks 29
 
Assessing shareholder value creation 34
 
What is the Marketing Due Diligence therapeutic process? 39
 
Implications of the Marketing Due Diligence process 41
 
Chapter 3 The implications of implementing Marketing Due Diligence 43
 
Fast track 43
 
The linkage to shareholder value 44
 
The risk and return relationship 45
 
A focus on absolute returns rather than risk 48
 
Using probability estimates to adjust for risk 51
 
Alignment with capital markets 56
 
Turning

Professor Malcolm McDonald 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.
 

Professor Brian D. Smith 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 Journal of Medical Marketing 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&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.
 
Keith Ward studied economics at Cambridge and then qualified as both a chartered accountant and a chartered management