The aim of this section of the Strategy Toolkit is to build strategic foundations. It encourages readers to think about the context in which strategy is developed, and the contribution marketing and communications can make to value creation.
It gives an overview of how marketing drives business performance, the theories of buyer behaviour, the ways that marketing can influence that behaviour and how advertising works. The section also translates these ideas into some initial strategic building blocks.
In this section you will learn about:
1. Marketing and value creation
Within the wider organisation, the key function of marketing is to plan for and nurture growth. There is pretty strong consensus in the literature that marketing needs to understand its responsibility in creating sustainable growth. Aside from M&A, the sales and marketing functions are the sole generators of long-term cash flow for an organisation. This is not always understood by marketing or its stakeholders, who see it as a communications department, more concerned with awareness and brand image than the hard realities of cash.
2. Buying patterns and brand growth
What else does this article talk about?
- Account planning, strategic planning
- Measuring ROI
- Purchase behaviour
- Brand loyalty
- Accountability, C-Suite relations
Interested in seeing what other marketing challenges WARC covers?
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