Marketing is everything
⇨ Technology is transforming choice, and choice is transforming the marketplace
- Make distinctions between technology and non technology business and industries: there are only technology companies
==> Technology has moved into products
- The defining characteristic of this new technological push is programmability.
⇨ Programmability is the new corporate capability to produce more and more varieties and choices for customers
= > The technological promise of programmability has exploited into the reality of almost unlimited choices.
- Evaluation of marketing = The market-driven company
⇨ These companies are customer ...view middle of the document...
- The marketer must be the integrator
• Internally: synthesizing technological capability with market needs
• Externally: bringing the customer into the company as a participant in the development and adaptation of good and services
⇨ The relationships are the key, the basis of customer choice and company adaptation
- Marketing today is not a function, it is a way of doing business. Marketing has to be all pervasive, part of everyone’s job description.
It is to integrate the customer into the design of the product and to design a systematic process for interaction that will create substance in the relationship.
2 mistakes by U.S companies:
- get caught up in the excitement and drive of marketing things, particulary new creations. => it leads to an internal focus
• companies can become so fixated on pursuing their R&D agendas that they forget about customers, the market, the competition
- become absorbed in the competition of selling things. => it leads to a market-share mentality, which inevitably translates into undershooting the market
- The real goal of marketing is to own the market, not just to make or sell products. Because in marketing, what you lead, you own
⇨ Leardership is ownership
- Leadership is ownership
• You do different things and you do things differently, as do your suppliers and customers
• You develop your products to serve that market specifically
• You define the standards in that market
• You bring into camp third parties who want to develop their own compatible products or offer you new features or add-ons to augment your product
• You get the first look at new ideas that others are testing in the larket
⇨ Owning a market can become a self-reinforcing spiral. Because you own the market, you become the dominant force in the field; because you dominate the field, you deepen your ownership of the market.
- Paradoxically, two important outcomes of owning a market are substantial earnings
• Replenish the company’s R&D coffers
• A powerful market position
==> In a world of flexible manufacturing, the counterpart is flexible marketing. The technology comes first, the ability to market follows.
- Variety + Service = Customization
Customization is the capacity to deal with a customer in a unique way (Technology makes it increasingly to do that)
- At the micro level, things act differently
• Sometimes customers behave as part of a group, fitting neatly into social and psychographic classifications
• Other times, the customer breaks loose and is iconoclastic
==> Customers make and break patterns
• Different markets have different levels of consumer energy, stages in the market’s development where a product surges, is absorbed, dissipates, and dies.
⇨ Again, “technology makes it increasingly possible to do that”, by giving marketers the tools they need, such as database marketing, to discern group or individuality.
Buckminster Fuller: “Don’t fight forces, use...