Twenty two (22) components of the 1st comparative marketing standards for listed and unlisted companies
Next, not only we suggest to implement a marketing strategy form in Appendix for the above 22 elements of marketing quality standards, but we also continue to propose 12 principles of a so-called good marketing management which can be used in most of companies, from small to medium to big size, esp. in developing countries including Vietnam as following:
Principle 1 – The company needs to choose a suitable marketing model and implement marketing strategy form as suggested in this book, for ex.
Principle 2 – The firm needs to perform cost vs. Benefit analysis for its marketing plans.
Principle 3 – The company need to coordinates related functions: advertising, customer service, sales, brand management with marketing function.
Principle 4 – Marketing standards are vital, so that top management set up private minimum budgets for them
Principle 5 – The company ensures a designated person to take care of marketing principles and qualified standards in this book, for marketing practice
Principle 6 – Marketing reports better to be supported with IT software solutions to be part of effective MIS and read by top management
Principle 7 – The corporation understands capital sources needed for environment protection and CSR.
Principle 8 – The firm needs to evaluate marketing efforts in relation to improving better leadership and corporate governance, at least from qualitative approach
Principle 9 – Corporation need to apply 4P, 7P, 5M and PENCILS in marketing and advertising to retain and keep client loyalty
Principle 10 – Corporate management needs to delegate tasks rationally and properly for CMOs and marketing, sale team and compensate them accordingly.
Principle 11 – Corporation need to pay attention to quality then follows quantity target and evaluate which one will create more wastes for firm.
Principle 12 – Corporate need to allocate a person in charge for implementing SWOT analysis and forms attached at the end of this book.
(Source: made by main author)