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MARKETING MANAGEMENT
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There is a general cry to rethink the marketing function and drive its further integration into
the strategic planning process. Marketing's position in the corporation was once viewed as a
series of separate functions (e.g., marketing
research, advertising, communications, or sales).
But marketing is far more than this. We need
to view it more broadly as the integrator of customer needs and desires with the strategic goals of the corporation.
To make this a reality, marketing operations must be fully integrated
into corporate strategy as a whole.
Because marketing is in the best position to represent the customer in the strategic planning process, it must take on a leadership role to make companies customer- and market-driven. And
why the emphasis on the customer? Formerly successful companies that lost their way, and new dot-coms that never found their
way, all failed to hnjly understand their customer. They failed to be
"market-driven." In George Day's book. The Market Driven
Organization {Free Press, 1999), he drives home this point. He says
that a market-driven firm demonstrates "a superior ability to
understand, attract, and keep valuable customers."
The authors in this issue of Marketing Management would most
definitely agree! jagdish N. Sheth and Rajendra S. Sisodia claim that
marketers are still trying to exert control over customers to make
them behave as they wish rather than building corporate goals and
activities around the customer. Kevin J. Clancy chimes in contending
that corporations must put marketing front and center as they create
new strategies to know and serve customers. As America's brands
dwindle to commodity status, he says that customer targeting by
intuition—greatly used and much abused—can't replace good
research and analysis. Comprehensive market research with its multitude of sophisticated modeling tools can bring the customer's
voice into the firm's strategic planning operations.
Roland T. Rust, Katherine N. Lemon, and Valerie A. ZeithamI
would concur and add that customer equity is the lifeline of a
company and, consequently, a winning brand. Marketers must
look at their corporate initiatives to evaluate which customer
equity driver will have the greatest impact on the value of the
firm. Again, by basing decisions on solid research and analysis,
not intuition, companies will be better prepared to properly
allocate their marketing dollars.
Marketing has repeatedly failed to rise to the occasion and
prove it can drive business success. Our authors all stress tliat inefficient and unaccountable marketing must cease. Now is the time to
take up the challenge and execute "high performance marketing!"
AVIERIC/IN
/VV1RKETING
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