Maybe it’s time to think of a new name for the philosophy and activities that encompass the term Marketing. In my experience when people say “marketing” they actually mean ‘marketing communication’. A big dutch bank has product management and marketing as seperate departments. They consider it to be different things. But according to the theory Product management has to do with the product which happens to be the first and probably most important P of the marketing mix. Creating value for customers starts with offering something they want and are happy to buy. But when even big professionally lead companies use the term marketing really only for the communications part, how can we expect less professionally lead companies to do it right.
Marketing has 4 P’s. And when the product is awesome, the need to sell it, brand it, communicate it, price it and distribute it is much less important.
Buggaboo sees it;s design department as leading and marketing is supporting. But hey!!!!! Designing the product is integral to the marketing idea. Again a company with people that have degrees in marketing that treat marketing as if it only encompasses the communication and branding part. So maybe it is a lost battle to have 4 P’s in marketing. Time for a new name for what marketing really encompasses? Creating value for selected people. How about “Customer Value Development” department. Cuz that is what it’s all about! With a fitting good or service (combined as a product), that specific people perceive as valuable and can easily acquire at a price they feel is value for money to them.
Any suggestions for a better name?
Or should we as marketeers stop giving the wrong example and put all 4 P’s together and make it marketing again?