By Philip Kotler, Bobby J. Calder, Edward C. Malthouse and Peter J. Korsten
The ideal role of marketing was articulated 60 years ago. How close to the ideal have we come by now?
THE GROWING NUMBER of chief marketing executives reflects the increasing importance companies attach to marketing. Yet the average tenure of a chief marketing officer (CMO) is three and a half years, well below that of the typical CEO. Both the prevalence of the CMO position and its precariousness give rise to the question: Has marketing realized the vision to which its adherents have long aspired? A recent global survey of CMOs reveals both how far marketing has come and where there is room to grow.
The Vision for Marketing
For more than 60 years, marketers have had a clear vision of the ideal role of marketing, which consists of two core ideas. One is the concept of the “marketing mix,” which dates to the late 1940s. Harvard’s Neil Borden, while president of the American Marketing Association, realized there was no set formula for successful marketing. Instead, the marketer must choose the best mix from the set of all possible mixes. Jerome McCarthy later codified the mix in the classic 4Ps of marketing — product, price, place and promotion. The task of the marketing executive is to have control of, or at least influence on, all of the 4Ps and blend them to produce the best value.
The second fundamental idea is that marketing decisions should be based on a solid understanding, supported by hard data, of target customers and other stakeholders. Anchoring decisions in data has become part of the bedrock vision of marketing. These two core components — control of the marketing mix and customer-oriented, data-based decision making — are fundamental to the field’s shared vision of marketing. It has been over a half century since that vision, now clearly spelled out in marketing textbooks, took shape. So what is the status of the field relative to the vision?
HOW CHIEF MARKETING OFFICERS RATE THEIR INFLUENCE >>> Continuar leyendo «The Gap Between the Vision for Marketing and Reality»
MODERN MARKETING & MEDIA
Often clients don’t know what they want but they want to know how much it will cost.We’ve all had that sinking feeling when meeting with a prospective client. The work is interesting and right in your sweet spot. But they don’t know exactly what they want or even what the deliverables should be. After a few minutes, you realize that just getting a decent proposal together is going to take a serious investment of time to unravel their needs.
Our company’s search for a better way to respond to RFPs (aka Requests For Proposal) began after a long and arduous bidding process around building a community-based website. We invested 3-4 days of our time conducting meetings, white-boarding ideas, and writing up our recommendations. We pushed the client into an awkward discussion around budget. But, at the end, we delivered a proposal with a rock-solid roadmap for executing the project.What happened next changed how we pitch and has made all the difference in our business.
Instead of hiring us, the prospective client simply passed around our ideas and deliverables to every other vendor for competing bids. Those vendors, in turn, said, «You bet we can do that – and for less.» We didn’t get compensated for our time or our work, but our ideas were implemented.
Prospective clients in the creative fields frequently use the RFP process – albeit unintentionally – as a cost-effective way to get brainstorming, mock-ups, and prototypes for free.