CIM poll to find out best marketing model in the century

Which model has helped firms and individuals out-manoeuvre competitors? Which marketing theory shapes marketing strategy? Which model has given the greatest campaign return?

To mark the centenary of The Chartered Institute of Marketing, the Institute’s Greater London region has set out to find the most valuable marketing model from the past 100 years.

The online poll, accessible via http://www.cimlondon.co.uk/poll/cim_centenary_poll.htm asks marketers to vote for the marketing model they think is the most valuable to marketers today.

Voters can choose from 12 models; from the fundamental core tactics of the ‘Seven Ps’ through to more complex models such as the Boston Consulting Group Matrix or Porter’s Five Forces. For inspiration, see what the experts have to say in these interviews: www.youtube.com/thecimtube

All voters are invited to enter a prize draw for a chance to win a copy of Professor Laurie Young’s new book, The Handbook of Marketing Techniques: Explanation, Analysis, Appropriateness and Application (Wiley), which looks at the use of marketing models in a world of marketing change, assessing their application and usefulness for today’s marketers.

Votes close on 30 June with the final verdict on the most valued marketing model, and prize draw winners, announced in July 2011.

The models are:

1. 7 Ps – marketing mix

Product, Price, Place, Promotion, People, Process and Physical evidence - these elements of the marketing mix form core tactical components of a marketing plan.

2. USP

Unique Selling Proposition is the concept that brands should make it clear to potential buyers why they are different and better than the competition.

3. Boston Consulting Group Matrix

This model categorises products in a portfolio as Stars, Cash Cows, Dogs and Question Marks, by looking at market growth and market share.

4. Brand positioning map

This model allows marketers to visualise a brand’s relative position in the market place by plotting consumer perceptions of the brand and competitor brands against the attributes that drive purchase.

5. Customer Lifetime Value

Customer Lifetime Value is the concept used to assess what a customer is worth, based on the present value of future revenue attributed to a customer’s relationship with a product.

6. Growth strategy matrix

Ansoff’s matrix identifies alternative growth strategies by looking at present and potential products in current and future markets. The four growth strategies are market penetration, market development, product development and diversification.

7. Loyalty ladder

This model shows the steps a person takes before becoming loyal to a brand as they move through the stages of prospect, customer, client, supporter and advocate.

8. PESTLE

As an extension of the traditional PEST model, this analysis framework is used to assess the impact of macro-environmental factors on a product or brand - political, economical, social, technological, legal and economic.

9. Porter’s Five Forces

The five forces are Rivalry, Supplier power, Threat of substitutes, Buyer power and Barriers to entry and are used to analyse the industry context in which the organisation operates.

10. Product Life Cycle

This model plots the natural path of a product as it moves through the stages of Introduction, Growth, Maturity, Saturation and Decline.

11. Segmentation, Targeting and Positioning

This three stage process involves analysing which distinct customer groups exist and which segment the product best suits before implementing the communications strategy tailored for the chosen target group.

12. SOSTAC

This acronym stands for Situation, Objectives, Strategy, Tactics, Actions, Control and is a framework used when creating marketing plans.