Tip No. 5: Integrating your Marketing and R&D Strategies to Win

By Cheryl Hayman, Hayman Strategy

My premise this month is that a company’s future success derives from providing value to customers that is not available from competitors – and that it must be developed with a market-orientation.

To accomplish a competitive edge, most companies will either:

1. Improve existing products and services;
2. Develop radically different offerings, quickly.

Generally to succeed long-term, you must be prepared to cannibalise your own business before someone else does. So where to start?

We are all so busy, and there are so many business hurdles…

1. Thinking strategically while working the day-to-day business issues
2. Deciding which comes first : technology, product, quality, market, manufacturing, distribution or finance
3. Understanding the influence of culture and values
4. Selecting a dominant strategy that integrates marketing, R&D and production strategies
5. Focusing on the winners, dropping the losers
6. Examining your company’s mission, vision and strategic intent
7. Measuring integrated strategic planning progression… just to name a few!

Always remember, however, that the planning responsibility of business owners and senior management includes conceiving and implementing an integrated business strategy that results in profits, growth and clear direction for the entire organisation.

Therefore, as part of aligning total business strategy, Marketing and R&D strategies need to align to increase the return from investment in new technologies.

It is therefore imperative that an integrated portfolio approach to support market-oriented R&D planning is undertaken and baked into the business culture.

Why are market-oriented strategies so important?

• Market orientation is a key driver of company performance, so companies should align their core activities with market requirements.
• Among the most important activities is the introduction of new products which sustain company success in many markets.
• The alignment of process steps, from idea to launch, with market requirements drives success.
• Consequently, R&D should be focused on designing new products which satisfy market requirements.

So in the end, ask yourself this… How can my company best integrate the marketing function with research and development? As product life-cycles and development cycles become ever shorter and as increasing proportions of R&D are outsourced, linking the marketplace with the ‘laboratory’ becomes both crucially important and increasingly difficult.

A final thought… don’t give up! This integration of marketing and R&D practices is the key to your long-term success and the only way to gain a sustainable competitive advantage.

MORE GREAT POSTS BY CHERYL HAYMAN

• Tip No. 4: Shoppers even more Savvy
• Tip No. 3: Brand Loyalty-the Pot of Gold
• Tip No. 2: Out-Step the Competition
• Tip No. 1: Remember ‘AIDA’

---

Cheryl Hayman – Hayman Strategy Cheryl Hayman owns and manages a strategic marketing and business consultancy, Hayman Strategy, providing a broad range of business and marketing solutions to corporations. Prior to establishing her own business, Cheryl had over 20 years experience as a senior marketing executive in multi-national organisations spanning Australia, NZ and the UK. Cheryl undertakes a number of non-executive Board roles and sits on several Advisory Boards including the Australian Businesswomen’s Network. Cheryl is a Fellow of the Australian Marketing Institute, holding a CPM. Cheryl personally undertakes continuous professional development within her various business roles, as well as attending external courses. Phone: 0408 200 545 or 02 9555 5776 Website: www.haymanstrategy.com Email: cheryl@haymanstrategy.com Twitter: @cherylhayman Facebook: www.facebook.com/cheryl.hayman LinkedIn: See Cheryl’s Public Profile Member Profile: See Cheryl’s Member Profile