Marketing Insights From a to Z: 80 Concepts Every Manager Needs to Know

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Marketing Insights from A to Z

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3.
Be as vague as possible; this avoids irritating the others.
4.
When in doubt, suggest that a subcommittee be appointed.
5.
Be the first to move for adjournment; this will make you
popular; it’s what everyone is waiting for.
arketing Assets 
and Resources
Companies think that they have a complete list of their assets on
their balance sheets: physical assets, accounts receivable, working
capital, and the like. But their real assets are off balance sheet items
such as the value of their 
brands
,
employees
,
distribution partners
,
suppliers
, and 
intellectual knowledge
including patents, trademarks,
and copyrights.
You need to go further and list your 
core competencies
and
core
processes
as assets. Any special skills and proprietary processes are
assets. Strategy is essentially the way a company chooses to link its
competencies, core processes, and other assets to win marketplace
battles.
At the same time, don’t limit your search for opportunities by
starting with your assets and resources. First look outside the firm for
Marketing Assets and Resources
101

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your opportunities, and then see if you have or can attract the needed
resources and competencies. I have always been impressed with 3M’s
willingness to go after a promising opportunity even if it lacked the
requisite resources. You can always buy or outsource them.