For marketers to capture the attention of CEOs, they must look beyond the tactical four Ps and become more involved in strategic initiatives.
For example, they must help companies shift from being sales-driven to
market-driven. This requires:
1) having the vision and environment to
generate breakthrough ideas; and
2) maintaining the capital, fortitude,
and risk tolerance to persevere and give the radical idea a fair chance
to succeed; and
3) finding under-served markets, developing radically new
value propositions, and creating new delivery mechanisms.
While traditional textbooks focus on the “tactical” side (four P’s) of marketing, they often overlook the “strategic” side of marketing. This leaves students thinking that marketing is all about tactics like running promotional events or sales contests. In reality, Marketing Management in the 21st Century is by far more strategic in nature. This White Paper speaks to both sides of marketing management.
