The Guru Guide to Marketing doc

The Guru Guide to Marketing [...]... notable marketing gurus have to offer We wish you good reading and success in meeting your company’s marketing challenges If you have comments about The Guru Guide to Marketing or would like to learn about other Guru Guides™ as they become available, please visit our web site at http://www.jboyett.com or e-mail us at Boyett@jboyett.com Joseph H Boyett Jimmie T Boyett xi The Guru Guide to Marketing ™ THE. .. or designing .The customer thus participates in the assembly of an unbundled series of components or modules that together comprise the product or service .The “product” resulting from the collaboration may be unique or highly tailored to the requirements of the THE FUTURE OF MARKETING customer, with much more of their knowledge content incorporated into the product than was previously the case.34 Gordon... differentiated ones; they want to blend the two into “prodices.” Second, consumers don’t want these “prodices” made for them; they want to participate in their cocreation 17 18 THE GURU GUIDE Prodices Frederick Newell, author of Loyalty.com, credits the term “prodices” to Lester Wunderman, then chairman of Wunderman, Cato, Johnson, the world’s largest direct marketing advertising agency.31 Wunderman’s... Borden, The Concept of the Marketing Mix,” Journal of Advertising Research, June 1964, p 5 tions of marketing The downside of talking about marketing mix was that there were literally hundreds, maybe even thousands, of activities that could be included in the mix It was easy for students and company executives to get so absorbed in the details that they missed the point of the marketing gurus’ beautiful theory,... control over the distribution of their goods: 19 20 THE GURU GUIDE In retail, the trend toward consolidation and large-scale superstores means that relatively few trade buyers, whose loyalties and interests are in deepening their own store brands, control the big wholesale purchasing decisions For manufacturers, who refuse (or are unable) to make the sacrifices these big stores require, the Internet... Promotion, however, we wonder to what extent our gurus’ additions to the schema actually improve it and to what extent they just make it more complex Still, we can’t help but empathize with these gurus’ efforts Things have changed since the 1960s, and the Four Ps don’t really work in the same way today There are problems with every P, as we shall see THE PROBLEM WITH THE PS Place Product Price Promotion... own Therefore, we encourage you to start with whichever topic is of most interest to you at the moment If you are interested in specific gurus, check the index or the guru lists at the beginning of each chapter to find out where they appear in the book and proceed accordingly You are in control of how you read this book So here it is—an unbiased but highly opinionated look at the best and worst the. .. say our gurus, is that marketers are losing control over the products they create Customers aren’t content to have companies create the prodices and shove them out the factory door Consumers today increasingly want to participate in designing, developing, testing, piloting, providing, installing, and refining the prodices they purchase Ian Gordon, author of Relationship Marketing, explains the new role... relations, the declining effectiveness of advertising, and attacks on traditional pricing schemes The five remaining chapters of The Guru Guide to Marketing cover five different approaches our gurus offer to address marketing s problems and challenges x THE GURU GUIDE Chapter 2, All You Need Is a Brand, and Chapter 3, All You Need Is Brand Management, present the arguments a vocal group of gurus make... Customer Equity, presents the arguments of another group of marketing gurus who say that neither branding nor CRM offer a real cure for marketing s ills Instead they say companies should treat customers as financial assets and marketers should focus their efforts on building what the gurus call “customer equity.” In this chapter, we compare and contrast two competing approaches that our gurus offer to . The Guru Guide to Marketing