recipe to regain relevance that is lost in
basing product decisions on historical cost
data. Budget variance and sunk project
costs, remain that – sunk and not relevant
to progressive marketing pursuits. It is
only evidence of what happened and not
what will happen in the future.
The market forces are too dynamic to
depend on historical data. Luckily we
have tools and technology to provide live
and current data that can help simulate
the market place for key decisions on the
powerful marketing Ps. The presentation
of such data does not require the rigour
accountants put through to get the
historical data out for management
consumption.
Competitor price ladders, new market
positioning, brand attributes are now
available on real time platforms. The pace
of executing the insights that are available
now helps create distinct competitive
differences. This is what I think is the
escalator, that will shape and disconnect
from dysfunctional dilemmas created
by over reliance on past though factual
but irrelevant data. This is a strategic
discontinuity.
Returns from marketing investment will
now have to be measured almost on real
time basis, and swift decisions with a full
58 MAL25/18 ISSUE
Customers demand targeted products to suit their
needs. These needs change from time to time.
Customers and consumers have insatiable needs
that require customization of products to suit
them. The strategic canvas cannot be held static.
Sustainable profitability of business operations
demands that the market place remains the centre
of activity. Indeed, this is the point of reference
and the centre of creativity where marketers play
their game. The insights for key decisions origi-
nate from this place.
view of market forces deployed.
Product homogeneity, mass production,
standardization (of product and costing)
process manufacturing, are some of
the rock beds for adoption of standard
product costs. However, technology and
changing customer choices have made it a
challenge for strategic marketing pursuits
to hang on that. This has become the
enemy of relevance in terms of utility of
past financial data in making marketing
decisions.
Customers demand targeted products
to suit their needs. These needs change
from time to time. Customers and
consumers have insatiable needs that
require customization of products to suit
them. The strategic canvas cannot be held
static. Sustainable profitability of business
operations demands that the market place
remains the centre of activity. Indeed,
this is the point of reference and the
centre of creativity where marketers play
their game. The insights for key decisions
originate from this place.
Owners of capital are driven by
sustainable returns. This can be defined
in many diverse ways – it is commonly