Marketing in the recent past has not been regarded as a key company activity with other functions like finance, operations, supply chain, strategy and HR gaining upper hand, and it was also not a glamorous profession either until a few pioneers and gurus actually explored the science of marketing and made it popular.
Not all people are born marketers, but the good news is that marketing function could be taught and learned. Now organizations all over the are driven by leaders and the CMO function has been the one most sought after.
The soul of marketing is about creating, communicating and delivering value to the customers. Primary process in this function starts when marketers understand the value network of the company and align their function in line with the company’s core offerings centred around their core values.
Physical products have their own tangible elements which could be communicated via direct interaction of the customer using their five senses of sight, smell, hearing, taste and touch. While to communicate services, it requires additional efforts for communicating the benefits and value proposition to the clients which captures their imagination.
According to Philp Kotler, “Good companies will create needs, great companies will create markets.” This framework clearly tells organisations that marketing is not just about need fulfillment, it is about going steps beyond it.
In such a changing global environment, organisations will have to largely rely on partner institutions and other service providers, to actually deliver their core offerings. Only when the other functions of a firm are working in tandem and aligned with the core marketing strategy of the firm, that the firm tends to make profit in this highly competitive world.
We are to witness organisations in the future where information flows freely to the CMOs from the other departments and where the board room offers space for the key marketing office bearers in making critical decisions regarding the overall organisational growth plans.
As an adage goes, “if you stay ready, you won’t have to get ready” which is a saying that is getting real for marketing organisations.