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Marketing is Dead- Long Live the Brand

There is a new economic order. Marketing wasrevenues in the new economic order. It's as
a business function relevant to the oldsimple as that.This means that every business
economic order. Even though that economicfunction that can contribute toward the
order is gone forever, most companies aregeneration of the right "IMAGINED
still think and work according to it. AndEXPECTATION", i.e., Brand, and toward its
this is costing them waste in their effort toconsolidation in customers' mental and
grow their business. It is high time theyemotional fields, must be regarded as a
adapted their business to the new economicrevenue building opportunity, and must be
order.How can this be? Marketing has beenintegrated as such. Which means it must be
around all along. What can have changed thatmanaged for integration. All your business'
makes the Marketing function so out of date?customer interfacing sub-functions must be
A sea change. No less. A transformation ofmanaged to work in synch toward generating
our marketplace. In recent decades, the oldand consolidating the strongest possible
economic order has given way to the newBrand - toward generating the most possible
economic order. Four factors characterizerevenue for the investment.Of course, the
this transition:1. Intensifying competitiontraditional Marketing sub-functions of Brand
has transferred power from the producer toGraphics, Advertising, Promotions, Market
the customer. The more freedom and choiceResearch, Distribution, Pricing, Sales,
customers have, the more power they have, atMerchandising and Packaging continue to play
the expense of you, the producer.2.an important role in the new economic order.
Intensifying accountability has transferredBut the boundary drawn by the Marketing
management orientation from process-driven tofunction between these sub-functions and
purpose-driven. As more has to beother business functions that contribute
accomplished with each dollar, activities aretoward the generation and consolidation of
increasingly determined by their ability tothe Brand with customers - is a deadly
deliver desired results.3. Acceleratingbarrier. Sub-functions like Product
innovation has redefined business from itsDevelopment, Product Research, Product
technology base to its relationship with itsExperience, Billing, Collections, Customer
customers. As new technologies keepCare and Credit Control, all play critical
emerging, companies have to keep shifting toroles, not only toward the generation of
those technologies that can better serveright Brand, but equally importantly, its
existing customers, whose loyalty is basedsustainability over time. These too are
less on technology provided by the company,legitimate Brand-building functions, and as
than it is on the perceived benefit they aresuch, can contribute substantially to the
already getting from the business.4. Thepurchase decision that brings in the revenue
perpetual proliferation of higher value hasfor your business.As long as your business
promoted both the ascendance of servicedoesn't demolish existing boundaries between
business at the expense of manufacturingthe Marketing function and all the other
businesses, and the increasing relativeBrand-building sub-functions, it is setting
internal importance of the service interfaceitself up for inconsistent, if not competing
of manufactured goods.These four emergentcustomer experiences from these functions.
factors, greater customer power, greaterThis means that some revenue investments will
purpose orientation by management, greaterbe working against other revenue investments,
customer-relationship based identificationwhich is the most wasteful thing a business
for the business, and the ascendance ofcan do!In short, Marketing is an outdated
service business, have together rendered thefunction based on that old producer-driven
discipline of Marketing limited and out ofmentality. Rise to the new economic order.
date, and replaced it with the Brand.How canRecognize that Brand is the crux of your
this be? Isn't Brand a mere sub function ofbusiness, and reorganize your company to take
Marketing? Isn't Brand run by the Marketingadvantage of the synergies othe new economic
department? Not any longer. Keeping Brandorder. In order to ensure that there is no
within Marketing in the new economic order iswaste in your investment for growth, you must
the surest way to dilute your investments forintegrate all the Brand-building and
growth. And as we have seen, tighteningbrand-consolidation sub-functions under a
accountability can no longer tolerate anysingle management function, one that is
such waste. Not when there are sub-functionsbroader than the Marketing function, one that
of business outside the Marketing function,includes several sub-functions that were
that can influence customer perception ofhitherto not regarded as Marketing
your business, and can thus determine yoursub-functions. You can call it what you
revenues.In the old economic order, it waswant. You can call this new function
the inherent quality of the product that wasCustomer department, or Brand department, or
the crux of the business. It was Marketing'sanything else for that matter. After all,
function to position it, promote it, sell it,Marketing is dead. Long live the
and bring in the revenue. In the newBrand!Author Bio:Management, Marketing &
economic order, the crux is no longer theCommunications Expert. Originally from
inherent quality of the product. It isIndia. Based in Western Europe from 1968 to
subtler quality, and one that lies outside1980. Based in the US since 1980.Career
your company. It is the quality of theHighlights:Worked with leading global
customers' PERCEPTION of the value they arecommunications service providers: Ogilvy &
buying. And there are many things thatMather, J. Walter Thompson, Young & Rubicam,
influence this perception. As many things asSaatchi & Saatchi, counseling leading global
the customer can experience, and associateorganizations: Procter & Gamble, IBM, AT&T,
with your brand name.Let's look at this aCitiCorp, Pepsico, Toyota, Shell, Johnson &
little closer. As we saw earlier, power hasJohnson, United Nations Population Fund,
shifted from the producer to the customer,etc.Over twenty five years of management
and has moved from the factory to theexperience: CEO - Middle East Region, Saatchi
emotional and mental fields of the customer.& Saatchi Plc. UK; Management Director, Young
In this new economic order, it is no longer& Rubicam GmBH Germany; Account Director,
the product or service per se, thatYoung & Rubicam USA; Brand Director - Asia
determines the flow of incoming revenue forPacific, AT&T Corp. USA. VP Marketing &
the business. It is now the perception ofSales, Afghan Wireless, Kabul, Afghanistan.
greatest value in the mental and emotionalCurrently: EVP - Senior Operations
field of the customer. Customers buy theirStrategist, Stealing Share, NY, NY, USA.
imagined expectation of what the product orServed the Princeton community locally as:
service can provide to them. This "IMAGINEDDirector on the Task Force on Ethics; and as
EXPECTATION" is the crux of your business'a Commissioner for Civil Rights.



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