Marketing is . . . About Value

Don’t know why I’m stuck on definitions of marketing right now, but I am, so we must deal with. The fundamental issue might be that it is such an inconsistently defined term that finding new, fresh definitions is almost fascinating.

In her article “How Marketing Can Go Beyond the ‘Make It Pretty’ Syndrome,” Laura Patterson defines marketing as it relates to value, namely:

  1. Creating value: In this capacity, the marketing organization serves as a driver of an organization’s value chain by insuring products and services are shaped by customer expectations and demands.
  2. Communicating value: Every customer touch point affects the customer’s decision and action; therefore, every touch point needs to tied to and communicate the value proposition.
  3. Delivering value: Through constant monitoring, Marketing can help determine whether it is delivering on its value promise and whether the value proposition needs modification.
  4. Sustaining value (or, Managing Customer Relationships): {Brett’s note – I just had to keep the ‘value’ pedalpoint going, though ‘Managing Customer Relationships” might be clearer} This ability to create a single view of the customer comes with responsibility—to take a leadership role in the creating and managing the processes associated with the company’s customer relationships.

It might not be the most complete definition, but I definitely think it’s the easiest to apply and to clarify marketing’s role within any organization.

The key is remembering that value is in the eye of the beholder, or, in this case, the customer. Pinching pennies to help the bottom line means nothing if it doesn’t create, communicate, deliver and sustain value for the customer.

3 responses to “Marketing is . . . About Value

  1. Pingback: how to be fascinating

  2. I think this lends credence to that fact that Marketing is so much more than just Sales and Advertising.

  3. True. It’s also a tough struggle to make happen. I know that Marketing involves everything – product development, customer service, returns policies – but I still personally struggle with leading that paradigm in my own company. Which lends credence to the fact that good marketers MUST be good leaders.

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