My quick marketing definition
August 6, 2010 § Leave a comment
MARKETING IS BOTH THE SCIENCE AND ART OF DEVELOPING AN URGE TO THE CONSUMER TO BUY YOUR SERVICE OR PRODUCT.
THE SCIENCE PART:
YOU HAVE TO DO LOTS OF RESEARCH, FINANCIAL SCENARIOS, SALES FORECAST, AMONG OTHERS TO ENSURE THAT THE COST-BENEFIT IS APPEALING TO BOTH YOUR CONSUMER AND YOUR STAKEHOLDERS.
THE ART PART:
YOU MUST EFFECTIVELY COMMUNICATE THE PRODUCT’S BENEFITS, IDENTITY AND USES (whenever necessary) THROUGH A MEDIA (whether a 30 sec spot, a flyer, a web page, etc).
Many people around the world think that marketing is mostly about the art part, but my experience as a marketer is that the art part of the role is minimum because nowadays it’s easy to outsource the creative part of marketing to huge advertising agencies that are required to deliver a certain campaign that meets certain objectives.
The science part of marketing is the only part for great marketeers and for future generations of marketeers. We are bound to be the “orchestra conductor“ for the business symphony. In this role you are like a father to a son, responsable for anything and everything that happens to your brand.
You have to be in ever-contact with:
- Supply: You must ensure that the product is in the right place at the right time. If there’s some trouble on the chain, you are responsible to react and avoid a product shortage at the end on the line.
- Purchase: It’s important that every ingredient is the same as the consumer-approved recipe and if there’s a look-up for trouble in the future, you are in charge of developing consumer-approved alternatives.
- Sales: Each month you’re responsible for the sales results of your brands. That’s why you should know sale cycles, regional needs, supply status (whether you have enough product or not), POS advertising, etc.
- You will must certainly will be asked to compare your results with other periods (such as last month or same period of last year) in order to deploy statistics.
- Finance: Every month with the arrival of your P&L you’re responsible for reviewing the gross and operational margins. If there are changes you must identify what drove those changes and whether those changes can be corrected or are going to be the new rate for the future in order to plan “cost reduction strategies” or “price increments”.
- Production: As you may imagine, inventory shortages or cost jumps are sometimes consequences of something that happen in your plant. Therefore you’re bound to know what triggered a change and what actions are being taken in order to correct the issue in hand.
- Engineering: In order to grow, your plant’s capacities must improve and if the engineers don’t know about a marketing strategy that will increase the product’s demand, you may be lacking product in now-time.
- Legal: Although much of the Legal department issues are from the arty-side of marketing you’re required to register your products (specially if their food of health products) in the correct institutions with lots of paperwork. In order to meet the times of New Product Development (NPD) you have to follow-up on every paper, every approval, every milestone.
The only piece of advise that I want to leave here for anyoune thinking of a career in marketing is that you will need to do numbers (and lots of them), you need to manage projects (and lots of them), you need to be clear (with your internal clients and customers and with to review and manage your Adv. Agencies proposals) and you need to motivate people all around you.