Diversity, Management, The Marketplace And Bottomline Profits
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Business > Construction and Trades
May 22, 2007
kokuj1n
Diversity, Management, The Marketplace And Bottomline Profits
At the beginning of every business consultation I more than often spend some time talking about why companies exist. i.e. to provide products and services via specific marketing channels to end users. The challenge is to identify the relevant channels to market which relate to the target end user customer, other major factors such as compelling value propositions, branding and category marketing all have a bearing on the final strategy decisions. The companies which define their target customers the best and deliver their products and services to them via the most appropriate marketing channels are the companies which end up having the most success. Today's companies with its diverse workforce find themselves in potentially advantageous positions that is, if they harness the marketing capability advantages of the the workforce. Individuals from a particular dimension of Diversity with the relevant marketing expertise may well find themselves in the best placed position to interpret research data, conduct focus groups and talk to end user customer who are like themselves. The challenge is for the organizations is to allow the talent which exists within the various segments of the workforce to bubble up to the surface through recognition and appropriate promotions to be in the positions where they can make relevant decisions as to devising and executing company strategies and tactics. It is indeed beneficial to all involved to view Diversity in this unemotional fashion i.e. having the best people in the best positions to make the best decisions for the company. This is indeed one of the many challenges facing management today when faced with developing, marketing and delivering products and services to a diverse target end user customer base. Much of the questions that arise in say developing skincare products to dark skinned women when the majority of skincare products are developed for Caucasian skin may we be more readily answered by individuals who have faced the specific issues all their lives. Skincare is just one of the many examples that could be cited; food is another one wish springs readily to mind where the benefit of the point of view of individuals from specific backgrounds and cultures may well enhance the strategy development process. The results of fully incorporating Diversity into the fabric of the organization's decision making process by the management team (ably assisted by the Human Resources department) will result in products and services which are more targeted to the desired end user customers and delivered to those customers via appropriate marketing channels. It is therefore the responsibility of the management team to keep the diverse target end user customer base in mind (where appropriate) and doing so ensure that the teams in place to develop and deliver the company's products and services and best placed to do so. i.e. those teams should ideally have the balance of product development and marketing strategy skills coupled with an understanding of the end user customers of which they are selling to. For various products and services the input into the product development process may well be seen to benefit greatly with the input of those within the organization who are most closely aligned to the target market customers. Getting these individuals involved in the appropriate decisions making junctures may well provide cherished career development opportunities as well as providing management with valuable interaction with those within the organization from the various dimensions of Diversity.
Stephen C Campbell (MBA, MSc, MCIM) has worked on diversity programs throughout Europe, Far East & U.S. whilst employed in the corporate sector. He now runs a Business Consultancy and has a keen interest in working with corporations on the link between Diversity and their Marketing Strategies. http://www.CapidHouser.Com
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