Column 3 · Resources and Capabilities · Era 5, Assets and Accountability (2000s)
Marketing Capabilities
Inputs: resources and assets · Landmark · Cluster II, Resources and Orientation
Description
Vorhies and Morgan identified eight marketing capabilities, including pricing, product development, channel management, marketing communication, selling, market information management, planning, and implementation, and used benchmarking against top performers to show their link to business performance.
Managerial Implications
Marketing capabilities, such as pricing, product management, channel management, communication, selling, market information, planning, and implementation, can be benchmarked and improved, and they explain performance differences between firms. Assess each capability against the best in your industry rather than against last year. Capabilities compound: strong planning without implementation, or information without pricing skill, leaves value on the table. Invest in the weakest link.