| There is a new economic order. Marketing
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| | your business' revenues in the new
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| was a business function relevant to the
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| | economic order. It's as simple as
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| old economic order. Even though that
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| | that.This means that every business
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| economic order is gone forever, most
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| | function that can contribute toward the
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| companies are still think and work
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| | generation of the right "IMAGINED
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| according to it. And this is costing
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| | EXPECTATION", i.e., Brand, and toward its
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| them waste in their effort to grow their
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| | consolidation in customers' mental and
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| business. It is high time they adapted
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| | emotional fields, must be regarded as a
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| their business to the new economic
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| | revenue building opportunity, and must be
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| order.How can this be? Marketing has
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| | integrated as such. Which means it must
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| been around all along. What can have
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| | be managed for integration. All your
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| changed that makes the Marketing function
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| | business' customer interfacing
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| so out of date? A sea change. No less.
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| | sub-functions must be managed to work in
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| A transformation of our marketplace. In
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| | synch toward generating and consolidating
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| recent decades, the old economic order
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| | the strongest possible Brand - toward
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| has given way to the new economic order.
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| | generating the most possible revenue for
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| Four factors characterize this
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| | the investment.Of course, the traditional
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| transition:1. Intensifying competition
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| | Marketing sub-functions of Brand
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| has transferred power from the producer
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| | Graphics, Advertising, Promotions, Market
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| to the customer. The more freedom and
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| | Research, Distribution, Pricing, Sales,
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| choice customers have, the more power
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| | Merchandising and Packaging continue to
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| they have, at the expense of you, the
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| | play an important role in the new
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| producer.2. Intensifying accountability
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| | economic order. But the boundary drawn
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| has transferred management orientation
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| | by the Marketing function between these
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| from process-driven to purpose-driven.
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| | sub-functions and other business
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| As more has to be accomplished with each
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| | functions that contribute toward the
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| dollar, activities are increasingly
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| | generation and consolidation of the Brand
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| determined by their ability to deliver
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| | with customers - is a deadly barrier.
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| desired results.3. Accelerating
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| | Sub-functions like Product Development,
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| innovation has redefined business from
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| | Product Research, Product Experience,
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| its technology base to its relationship
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| | Billing, Collections, Customer Care and
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| with its customers. As new technologies
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| | Credit Control, all play critical roles,
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| keep emerging, companies have to keep
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| | not only toward the generation of right
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| shifting to those technologies that can
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| | Brand, but equally importantly, its
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| better serve existing customers, whose
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| | sustainability over time. These too are
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| loyalty is based less on technology
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| | legitimate Brand-building functions, and
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| provided by the company, than it is on
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| | as such, can contribute substantially to
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| the perceived benefit they are already
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| | the purchase decision that brings in the
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| getting from the business.4. The
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| | revenue for your business.As long as your
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| perpetual proliferation of higher value
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| | business doesn't demolish existing
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| has promoted both the ascendance of
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| | boundaries between the Marketing function
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| service business at the expense of
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| | and all the other Brand-building
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| manufacturing businesses, and the
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| | sub-functions, it is setting itself up
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| increasing relative internal importance
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| | for inconsistent, if not competing
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| of the service interface of manufactured
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| | customer experiences from these
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| goods.These four emergent factors,
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| | functions. This means that some revenue
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| greater customer power, greater purpose
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| | investments will be working against other
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| orientation by management, greater
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| | revenue investments, which is the most
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| customer-relationship based
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| | wasteful thing a business can do!In
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| identification for the business, and the
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| | short, Marketing is an outdated function
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| ascendance of service business, have
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| | based on that old producer-driven
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| together rendered the discipline of
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| | mentality. Rise to the new economic
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| Marketing limited and out of date, and
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| | order. Recognize that Brand is the crux
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| replaced it with the Brand.How can this
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| | of your business, and reorganize your
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| be? Isn't Brand a mere sub function of
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| | company to take advantage of the
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| Marketing? Isn't Brand run by the
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| | synergies othe new economic order. In
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| Marketing department? Not any longer.
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| | order to ensure that there is no waste in
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| Keeping Brand within Marketing in the new
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| | your investment for growth, you must
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| economic order is the surest way to
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| | integrate all the Brand-building and
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| dilute your investments for growth. And
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| | brand-consolidation sub-functions under a
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| as we have seen, tightening
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| | single management function, one that is
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| accountability can no longer tolerate any
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| | broader than the Marketing function, one
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| such waste. Not when there are
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| | that includes several sub-functions that
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| sub-functions of business outside the
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| | were hitherto not regarded as Marketing
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| Marketing function, that can influence
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| | sub-functions. You can call it what you
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| customer perception of your business, and
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| | want. You can call this new function
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| can thus determine your revenues.In the
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| | Customer department, or Brand department,
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| old economic order, it was the inherent
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| | or anything else for that matter. After
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| quality of the product that was the crux
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| | all, Marketing is dead. Long live the
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| of the business. It was Marketing's
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| | Brand!Author Bio:Management, Marketing &
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| function to position it, promote it, sell
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| | Communications Expert. Originally from
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| it, and bring in the revenue. In the new
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| | India. Based in Western Europe from 1968
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| economic order, the crux is no longer the
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| | to 1980. Based in the US since
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| inherent quality of the product. It is
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| | 1980.Career Highlights:Worked with
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| subtler quality, and one that lies
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| | leading global communications service
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| outside your company. It is the quality
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| | providers: Ogilvy & Mather, J. Walter
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| of the customers' PERCEPTION of the value
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| | Thompson, Young & Rubicam, Saatchi &
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| they are buying. And there are many
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| | Saatchi, counseling leading global
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| things that influence this perception.
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| | organizations: Procter & Gamble, IBM,
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| As many things as the customer can
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| | AT&T, CitiCorp, Pepsico, Toyota, Shell,
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| experience, and associate with your brand
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| | Johnson & Johnson, United Nations
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| name.Let's look at this a little closer.
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| | Population Fund, etc.Over twenty five
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| As we saw earlier, power has shifted from
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| | years of management experience: CEO -
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| the producer to the customer, and has
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| | Middle East Region, Saatchi & Saatchi
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| moved from the factory to the emotional
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| | Plc. UK; Management Director, Young &
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| and mental fields of the customer. In
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| | Rubicam GmBH Germany; Account Director,
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| this new economic order, it is no longer
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| | Young & Rubicam USA; Brand Director -
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| the product or service per se, that
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| | Asia Pacific, AT&T Corp. USA. VP
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| determines the flow of incoming revenue
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| | Marketing & Sales, Afghan Wireless,
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| for the business. It is now the
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| | Kabul, Afghanistan. Currently: EVP -
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| perception of greatest value in the
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| | Senior Operations Strategist, Stealing
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| mental and emotional field of the
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| | Share, NY, NY, USA. Served the Princeton
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| customer. Customers buy their imagined
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| | community locally as: Director on the
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| expectation of what the product or
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| | Task Force on Ethics; and as a
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| service can provide to them. This
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| | Commissioner for Civil Rights.
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| "IMAGINED EXPECTATION" is the crux of
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