Table Of ContentMarketing Projects
Best Practices in Portfolio, Program, and
Project Management
Ginger Levin
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Contents
List of Abbreviations and Acronyms ...............................................................xiii
Preface ...............................................................................................................xv
Acknowledgments ...........................................................................................xvii
Authors .............................................................................................................xix
I General Introduction .............................................................................1
I.1 What to Expect ...............................................................................13
I.2 Unique Features ..............................................................................14
I.3 Mind Teasers ...................................................................................16
1 What Is Marketing? ..............................................................................17
1.1 I ntroduction ....................................................................................18
1.2 What Is Marketing in the Context of Project Feasibility? ................18
1.3 Who Are the Marketing Experts? ....................................................19
1.4 Marketing for the Vast Majority ......................................................20
1.5 What Do We Put in the Market? .....................................................21
1.6 Why Do We Market Products, Services, Ideas,
Experiences, or Projects? ..................................................................22
1.7 Where Does Marketing Theory Come From? ..................................23
1.8 Where Does Marketing Take Place? ................................................24
1.9 What Defines a Market? ..................................................................25
1.10 Who Are the Other Market Agents? ................................................31
1.11 Can Marketing Actions Be Misinterpreted? ....................................34
1.12 What Are the Basic Marketing Models? ..........................................36
1.12.1 O perational Models ............................................................36
1.12.1.1 Operational Models Pertaining to Marketing
Experts .................................................................36
1.12.1.2 Operational Models Pertaining to Consumers .....39
1.12.1.3 Operational Models Pertaining to the Sellers ......42
1.12.2 Consumer Behavior Models ................................................43
1.12.2.1 N eeds ...................................................................43
1.12.2.2 O pportunity ........................................................49
1.12.2.3 Supply and Demand Curves ................................51
vii
viii ◾ Contents
1.12.2.4 P rofiles .................................................................54
1.12.2.5 Apprehension and Perceived Risk (Threat) ...........58
1.12.3 Strategic Models Used by Marketers ...................................61
1.12.3.1 P rofit-Seeking .......................................................61
1.13 Conclusion ......................................................................................62
1.14 M ind Teasers ...................................................................................62
2 What Is Marketing Management? ........................................................65
2.1 I ntroduction ...................................................................................66
2.2 Six Components of Marketing Management ..................................66
2.2.1 I nnovation ..........................................................................67
2.2.2 S egmentation ......................................................................70
2.2.3 Positioning (and Competition) ............................................73
2.2.4 Targeting and the 4Ps .........................................................82
2.2.5 Differentiation (and Branding) ..........................................90
2.2.6 L oyalty Building .................................................................95
2.2.7 Summary ............................................................................98
2.2.8 The Marketing Plan ............................................................99
2.3 C onclusion ......................................................................................99
2.4 M ind Teasers .................................................................................103
3 What Is a Project? ...............................................................................107
3.1 Introduction ..................................................................................107
3.2 More on the Definition of Projects ................................................109
3.3 What Is the Iron (Bermuda) Triangle? ...........................................113
3.4 What Are a Project’s Lifecycle and Key Components? ...................114
3.5 What Are the 4Ps of Projects? ........................................................117
3.6 What Are a Project’s Points? ..........................................................120
3.6.1 P oints-of-No-Return .........................................................121
3.6.2 Points of Autonomy ..........................................................121
3.6.3 Other Critical Points: Benchmarks, Stage Gates,
and Milestones ..................................................................122
3.7 W hat Are the Key Consensus Factors (KCFs)? ..............................123
3.8 What Is a Causal Chain? ...............................................................128
3.9 Conclusion ....................................................................................130
3.10 Mind Teasers .................................................................................131
4 What Is Marketing Feasibility of Projects? ........................................133
4.1 I ntroduction ..................................................................................134
4.2 What Are Prefeasibility Studies? ....................................................135
4.3 What Are the Five Frames of Prefeasibility Analysis? .....................138
4.3.1 Definition (Structural and Functional Elements) ..............138
4.3.2 R isks .................................................................................140
4.3.3 Potentiality........................................................................141
Contents ◾ ix
4.3.4 P arameters ........................................................................142
4.3.5 Key Success Factors and Key Failure Factors
(KSFs and KFFs) ...............................................................142
4.4 What Are Feasibility Studies? ........................................................144
4.5 The Six Tools Used in Feasibility Studies .......................................146
4.5.1 The 4Ps of Project Management ........................................148
4.5.1.1 P lan ....................................................................149
4.5.1.2 S ummative Triangle ...........................................149
4.5.1.3 C ritical Points ....................................................150
4.5.1.4 Structural and Functional Elements ...................150
4.5.1.5 Non-Descriptive Variables ..................................151
4.5.1.6 Processes ............................................................155
4.5.2 P RO ..................................................................................156
4.5.3 P OV ..................................................................................158
4.5.3.1 Risks ..................................................................162
4.5.3.2 SVOR ................................................................162
4.5.4 P OE ..................................................................................164
4.5.5 P OW ................................................................................165
4.5.6 PWP .................................................................................166
4.6 What Are the Particularities of the Marketing Feasibility
Analysis of Projects? .......................................................................175
4.7 C onclusion ....................................................................................178
4.8 Mind Teasers .................................................................................180
5 What Do Marketing Experts, Project Managers, and Clients
Have in Common? ..............................................................................183
5.1 Introduction ..................................................................................184
5.2 Project Managers and Clients ........................................................185
5.2.1 Clients’ Needs and Involvement ........................................186
5.2.2 How Do Clients and Project Managers Consider
Each Other? ......................................................................190
5.2.3 Benefits and Problems to Clients’ Involvement..................192
5.2.4 Benefits .............................................................................193
5.2.5 Failures and Problems .......................................................198
5.3 What Are the Nine Factors of Trouble? ........................................200
5.3.1 Pressure to Perform ...........................................................202
5.3.2 R ework .............................................................................203
5.3.3 Demotivating Factors .......................................................204
5.3.4 Discretion .........................................................................207
5.3.5 Escalation of Commitment (or Over-Commitment)
Versus Loyalty ...................................................................207
5.3.6 E ntrapment .......................................................................207
5.3.7 C lients’ Inadequacy ..........................................................208
