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[MISSION M3B: FILE #5] Harvard Business Review Got It Right – Rust, Moorman, & Bhalla on “Rethinking Marketing”
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[MISSION M3B: FILE #5] Harvard Business Review Got It Right – Rust, Moorman, & Bhalla on “Rethinking Marketing”

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Big Dog Innovations is on a mission (MISSION M3B) to get each part of the MARKETING 3.0 BLUEPRINT (the ROADMAP to the new world of marketing) into the hands of elite marketing executives - worldwide - …

Big Dog Innovations is on a mission (MISSION M3B) to get each part of the MARKETING 3.0 BLUEPRINT (the ROADMAP to the new world of marketing) into the hands of elite marketing executives - worldwide - who are highly desirous of innovating their marketing models.

FILE #5: "Harvard Business Review Got It Right – Rust, Moorman, & Bhalla on 'Rethinking Marketing'" provides "need to know" points (extracted from a Harvard Business Review article's "forecast come true") to help you and your organization to get into the "Marketing 3.0" mindset, prior to our delivery of subsequent content files on marketing strategy, implementation, management, and measurement in the "new world of marketing."


To access and/or subscribe to all past and future content files in this series, visit http://www.bigdoginnovations.com/missionm3b " delivers a detailed explanation of the "change" that exists in the marketing world today - providing the clarity needed to progress your organization through the complete "Marketing 3.0" transformation.

To access and/or subscribe to all past and future content files in this series, visit http://www.bigdoginnovations.com/missionm3b

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  • 1. MISSION M3B Big Dog Innovations’ mission to get each part of theMARKETING 3.0 BLUEPRINT (the ROADMAP to the newworld of marketing) into the hands of elite marketing executives – WORLDWIDE – who are highly desirous of INNOVATING their marketing models. FILE #5Harvard Business Review Got It Right – Rust, Moorman, & Bhalla on “Rethinking Marketing” ACCESS AND/OR SUBSCRIBE TO ALL FILES IN THIS SERIES AT: HTTP://WWW.BIGDOGINNOVATIONS.COM/MISSIONM3B
  • 2. CreditsAn article published in HarvardBusiness Review - by Roland T.Rust, Christine Moorman, &Gaurav Bhalla - entitled“Rethinking Marketing”
  • 3. “Rethinking Marketing” (Rust, Moorman, & Bhalla)• An interesting read that forecasted the shift in marketing from a product or service-centric business towards a customer- centric business• Where marketing is tasked with making the customer (instead of the product) the focal point
  • 4. “Rethinking Marketing” (Rust, Moorman, & Bhalla)• References are made to areas where technologies empower organizations to increase interactivity and dialogue with the customer base• And these same technologies can be turned into message- specific, follow-through communications - different messages for different interests
  • 5. “Rethinking Marketing” (Rust, Moorman, & Bhalla)• Much of this increase in message relevancy is the driving factor towards increased returns on investments and longer-term customer loyalty• And while the efforts to achieve these new levels of returns will take more effort up front, ultimately the longer term value is greater
  • 6. “Rethinking Marketing” (Rust, Moorman, & Bhalla)• The article continues to describe the shift in marketing as it references increased instances of CMO’s being either replaced or augmented by CCO’s (Chief Customer Officers)
  • 7. “Rethinking Marketing” (Rust, Moorman, & Bhalla)• In order for the opportunities of the “lifetime value of a customer” to be realized, a paradigm shift in thinking, marketing strategies, and communications behaviors must take place.• This type of often disruptive emphasis must be driven from the top of the organization.
  • 8. “Rethinking Marketing” (Rust, Moorman, & Bhalla)• Shifts in where customer data is managed (usually within IT) towards marketing departments with advancements in CRM (customer relationship management) capabilities are becoming more common.• So too is what’s being measured as organizations are putting more emphasis on customer profitability vs. product profitability (although this type of measurement shift is a slow migration).
  • 9. “Rethinking Marketing” (Rust, Moorman, & Bhalla)• There are multiple variables relating to the successes that organizations will achieve, including but not limited to: – Company size – Company type (such as B-2-B and B-2-C) – And distributed sales models – although, increasingly, corporations are seeking ways to go “around the channel” to communicate directly with the customer
  • 10. “Rethinking Marketing” (Rust, Moorman, & Bhalla)• To this well written forecaster of the shift in marketing emphasis, we add several new influences, including: – the changes in and additions to available media formats – increased emphasis on new marketing practices such as inbound marketing (particularly social media marketing) – and the ongoing attempts at continually moving the corporation towards a “Marketing 3.0” direction where dialogue and ongoing engagement with customers becomes an accepted cultural shift in organizational behavior
  • 11. “Rethinking Marketing” (Rust, Moorman, & Bhalla) You can purchase the full “Rethinking Marketing” article PDF, from Harvard Business Review, at:http://bgdg.co/RethinkingMarketingWe believe it’s a worthwhile read!
  • 12. To follow the Marketing 3.0 Blueprint, visitwww.BigDogInnovations.com/MissionM3B where you can access and/orsubscribe to all of the past and future content files in the MISSION M3B series, published within the ongoing Marketing 3.0 Weekly blog.
  • 13. The Big Dog Innovations Approach to the New World of Marketing – Marketing 3.0 Marketing Marketing Strategy Infrastructure Marketing Implementation Marketing Marketing Communications Measurement Logistics & Refinement Achievements: Increased Conversion Rates. Lowered Costs of Acquisition.Higher Levels of Customer Intimacy. Better Overall Insight Into Marketing Performance.
  • 14. Contact us today for a discussion on what anupdated marketing plan – optimized for thenew world of “Marketing 3.0” – might look likefor your organization specifically. Peter Winters President pwinters@bigdoginnovations.com Jackie Crino Chief Marketing 3.0 Officer jcrino@bigdoginnovations.com www.BigDogInnovations.com