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“BUSINESS
INSIGHTS”
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Adjust
or Perish: The Changing Role of Marketing
Lately I have
been pondering the vast
changes that the roles of marketing and senior marketing
executive have been undergoing. Some of these changes can be
attributed to shifts in the economic environment, some to
changes in technology, and, of course, changes in the needs and
motivations of the customer.
1. Ensure
that marketing goals are in alignment with the organization’s
goals. Too often this is not the case. This is especially
important today with the increasing pressure on a company’s
profits.
4.
Many marketers define their roles too narrowly and are resistant
to putting themselves in positions outside their comfort zones.
It is important to know what you don’t know and to put people on
your team who cover your weaknesses.
In an article by
Nirmalya Kumar, (Director of the Center for Marketing at London
Business School) published in the
Marketing Management Magazine, “The importance of
marketing as a mind-set is unquestioned in firms. But true
market orientation does not mean becoming market-driven; it
means that the entire company obsesses over creating value for
the customer and views itself as a bundle of processes that
profitably define, create, communicate and deliver value to its
target customers.”
Peter Drucker once wrote, "The business
enterprise has two and only two basic functions: marketing and
innovation. Marketing and innovation produce results; all the
rest are costs." Marketing must stay aligned, engaged, and
relevant or it will become just another cost. In today's tough
economic environment, this is more important than ever.
Everyone in the company must help
create customer value. In other words, everyone must do
marketing, no matter what function or department they may be in.
Marketing must lead projects that deliver value to the consumer
- becoming more strategic, cross-functional and more bottom-line
oriented.
There is a popular saying
that states: If you always do what you’ve always done,
you’ll always be what you’ve always been. Today's
challenges can't be satisfied with yesterday's mindset.
About the Author: Ken Wilson: Strategist, marketing guru, educator, facilitator, author, university lecturer and consultant, he can be reached at ken@wmg-mn.com or 763-476-2216
Copyright ©2018 by Ken Wilson All rights reserved.