Archive for the ‘Mktg – 6 Ps’ Category

Marketing is dead … HBR says so !

September 18, 2012

Punch line: According to a Harvard Business Review post, Marketing is dead.

Traditional marketing — including advertising, public relations, branding and corporate communications — is dead.

Many people in traditional marketing roles and organizations may not realize they’re operating within a dead paradigm.

But they are.

The evidence is clear.

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Here’s the “evidence”:

Several studies have confirmed that in the “buyer’s decision journey,” traditional marketing communications just aren’t relevant. Buyers are checking out product and service information on the Internet, and often from … word-of-mouth or customer reviews.

CEOs have lost all patience with CMOs who lack business credibility, the ability to generate sufficient business growth, and evidence that …  brand equity can be linked to actual firm equity or any other recognized financial metric.

Third, in today’s increasingly social media-infused environment, traditional marketing and sales doesn’t work so well …and  doesn’t make sense.  When you try to extend traditional marketing logic into the world of social media, it simply doesn’t work.

The prescription: build communities, leverage “influencers”, be “authentic”,build social equity, etc.

Blah, blah blah.

Ken’s Take: As I often remind my students, marketing is more than sales and advertising !

Marketing is also about:

  • Identifying high potential (i.e. profitable) target markets
  • Designing products that meet real customer needs
  • Pricing products to deliver value to buyers and profits to shareholders.
  • Distributing through efficient, hassle-free channels
  • Communicating products’ benefits and value-to-customers
  • Measuring performance to efficiently allocate assets and spending.

Reports of marketing’s death are premature … unless you mistakenly think that marketing and advertising are synonymous.

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Somebody tell GM: ”Marketing is more than advertising!”

August 31, 2011

Punch line: What are GM’s adverting tag lines for Caddies & Chevies?

If you don’t know, you’re not alone.

So, GM is hassling its ad agencies.

Excerpted from BrandChannel: “GM Calling Agencies To Task”

Joel Ewanick was recruited as General Motors from Hyundai with expectations he would become a game-changer last year, positioning his new employer for long-term global success for its remaining brands.

But the GM CMO doesn’t think some of the advertising agencies that are supposed to help him are up to game speed yet. And he’s getting impatient.

No wonder Ewanick is a little edgy these days about the two brands.

Chevrolet has gotten stronger since his arrival, but a huge reason for that is one single new product: the Chevrolet Cruze small car, whose appeal seems based on fuel efficiency and strong vehicle features rather than buzz-worthy advertising.

Outsiders expressed concern last year with the brand’s new “Chevy Runs Deep” positioning. It wasn’t clear exactly what that message would do for the brand.

Meanwhile, Cadillac has been losing shine in the luxury-car war … and Caddy’s current “Red Blooded Luxury” campaign has been questioned.

Ken’s Take: My constant refrain to students is that marketing is more than advertising and promotion.

So, I cringed when I read the line “but … success is due to fuel efficiency and strong product features rather than buzz-worthy advertising”.  Emphasis on the “but”.

Horrors.

Success from delivering a good product rather than smoke & mirrowing a bad one.

Somebody, please tell GM that marketing is more than advertising & promotion,

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