cut the crap and focus on the markets that deliver No-one in business wants to spend any more than is absolutely necessary on marketing. At the same time, everyone in business wants to maximise sales and, ultimately, profitability. Sometimes, these objectives appear to conflict with the aim of reducing marketing and advertising expenditure. They may […]

cut the crap and focus on the markets that deliver No-one in business wants to spend any more than is absolutely necessary on marketing. At the same time, everyone in business wants to maximise sales and, ultimately, profitability. Sometimes, these objectives appear to conflict with the aim of reducing marketing and advertising expenditure. They may even be seen as a sure way of reducing sales. This is the third in a series of 5 thoughts examining this perceived conflict and outlining action that can be taken to reduce marketing and advertising expenditure without impacting sales. High profile venture capitalist, Mark Cuban, once suggested that he applies three principal criteria to the assessment of an investment opportunity: Is it addressing the smallest possible market? Does it have a strategic competitive advantage? Is the business absolutely customer focused? Each of these criteria points directly to the predicted marketing budget. The smaller the…