Building Value through Marketing provides a hands-on guide to understanding and building compelling marketing plans that create value, not only in profit terms but also for customers and stakeholders.
Working step-by-step through strategy development, this book empowers those responsible for creating or managing new products or services to have the right mindset, understand the most important marketing tools that they can use and apply these to create unprecedented levels of value. Founded on the principle of Service Dominant Logic, the book is organized into three key sections: "The Value Mindset," "The 12 Building Blocks of Value," and "Value-Focused Marketing in Action," which walk through the process of value-focused product and service development. The strategies and tools put forward have been tested successfully across multiple industries and countries and are grounded in academic theory, emphasized by real-life case studies throughout. Readers will gain the ability to align their marketing scholarship and practices with the current definition of why a business exists and the role that marketing plays within these business practices.
This is essential reading for those studying Marketing Planning and Strategy at Advanced Undergraduate, Postgraduate and MBA levels. Its uniquely applied approach also makes it an excellent guide for marketing practitioners and institutions offering professional qualifications.
Table of Contents
- The Building Value from Marketing Manifesto
- Who should read this book?
Section 1 : The Value Mindset
- What is Marketing?
- What is Value?
- How to Calculate Value
- What is Marketing Strategy?
Section 2 : The 12 Building Blocks
- Destination Strategy
- Building Block #1: Core Values
- Building Block #2: The Lightning Rod Target Customer
- Building Block #3: The Problem Worth Solving
- Building Block #4: Solution [S] Product
- Building Block #5: Story
- Building Block #6: Communication Channels
- Building Block #7: Distribution Channels
- Building Block #8: The Value System
- Building Block #9: The Competitors
- Building Block #10: The Force of Attraction
- Building Block #11: The Ecosystem
- Building Block #12: Service Flow
Section 3 : Creating Value-focused Marketing Strategy
- The Nine Rules
- Step 1: Define Core Values
- Step 2: Define The Why
- Step 3: Brainstorm LRTC Candidates
- Step 4: Brainstorm PWS Candidates
- Step 5: Define the LRTC & PWS
- Step 6: Build & Answer the Question Tree
- Step 7: Build the Value System Map & Define Key Drivers
- Step 8: Define Scarce & Abundant Resources
- Step 9: Set S.M.A.R.T. Objectives
- Step 10: Brainstorm Strategic Elements
- Step 11: Create Marketing Strategy & Value Proposition
- Step 12: Launch, Monitor, Analyze & Revise
Philip Sugai is Professor of Marketing at Doshisha Business School in Kyoto, Japan, and has published books and multiple case studies on global business and marketing.
'Historically, value has been viewed singularly through the eyes of a product or service. What value does it bring to customers and how can we optimize our business activities around that? This old-world view is refuted in Building Value through Marketing. Philip Sugai masterfully articulates the modern value exchange and expands value's stakeholders to include the many actors and types of value that great marketers and businesses must leverage to win today. This book will bring enormous value to all who embrace it.'
Doug May, Vice President, Global Value Acceleration, Databricks, Inc.
‘Value Creation is critical for organizations and their leaders to focus upon. Philip Sugai has written a great and long needed book that offers clear, actionable insights into how marketing activities can create value for companies, their customers, shareholders, employees, partners, society and the planet.’
Gautam Mahajan, Editor of the Journal of Creating Value, and Mentor, Creating Value Alliance
‘Today's companies must make sure that their work creates positive outcomes for society. They should work to serve society and the people, exactly as Philip Sugai outlines within this book. As long as companies pursue a value-focused attitude, they will continue to thrive and grow. Those companies that ignore these value-focused principles will surely fail.’
Dr. Sachio Semmoto, Renova, Inc. Executive Chairman
‘Get ready to rethink what you believe marketing is all about - "Aha!" moments abound, as you get through this step by step guide, for how to understand, capture and measure value - I use the lessons learned daily!’
Adrian V.J Sossna, Chief Marketing Officer, Hacarus