Lecture 8. Corporate-Level Marketing: Beyond the age of innocence. Objectives. Retrospective: “ Revealing the Corporation” A New Gestalt of the Corporation Corporate-Level Concepts: Problem Children Corporate-Level Marketing: What is it?
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Corporate-Level Marketing: Beyond the age of innocence.
Retrospective: “Revealing the Corporation”
A philosophy with a rich, interdisciplinary, inheritance.
Existing corporate-level concepts may be deemed to be unsuitable as an umbrella label for this new corporate-level gestalt.
They all have an immense richness, but are either inappropriate, inadequate, or carry too much gratuitous baggage.
This is likely to be contentious.
INHERITANCE PRESCIENCE EXPEDIENCE, and
The marketing discipline has made, in our estimation, the most conspicuous contribution to the concepts in this anthology. For instance, communication, image, reputation, and branding are key concepts within the marketing domain whilst others, such as identity, are frequently marshalled by marketing scholars and practitioners.
The notion that marketing should concern itself with corporate-level concerns is far from new. Kotler and Levy (1969) argued that it should encompass ANY ENTITY.
Webster, more recently, concluded that marketing should make a paradigm shift away from products and firms to people and organizations.
Marketing has been effective in demonstrating its utility to managers. It is a discipline that is adept in operationalizing theories so that they have an immediate and practical relevance.
Marketing has always been a repository of insights and theories marshalled from other disciplines including psychology, economics, and strategy. The assemblance of diverse perspectives to form a unified whole has been a basic tenet of the area. Culliton (1948) envisioned the marketer to be first and foremost a mixer of ingredients – in other words, an orchestrator.
Marketing’s expedience and assemblance are at their most translucent in terms of the marketing mix. As such, the articulation of the marketing mix at the corporate-level may serve a similar purpose.
There are a three substantive differences between the marketing mix and the corporate-level marketing mix:
1. It is broader than the traditional “4Ps” of the marketing mix.
2. The elements of traditional marketing mix require a radical reconfiguration.
3. The mix elements, in many instances, have distinct disciplinary traditions.
MIX HAS TEN ELEMENTS:
PHILOSOPHY AND ETHOS: what the organization stands for, and how it undertakes its work
PERSONALITY: the mix of subcultures within the organization
PEOPLE: The life-blood of an organization’s identity. They represent an important interface with stakeholder groups and have a crucial role in product and service quality.
PRODUCT: What an organization makes or does: its core business or businesses
PRICE: What an organization charges for its products and services, including the goodwill element in the valuation of its corporate and product brands; the price of the corporation’s stock, and staff salaries
PLACE: Distribution channels, company’s relationships with distributors, franchising arrangements.
PROMOTION: A concern with Total Corporate Communications (see Section Three) also visual identification, and branding policies
PERFORMANCE: How the organization’s performance is rated by key stakeholders vis a vis the organization’s espoused philosophy and ethos (and corporate brand covenant) and how it is rated against competitors.
PERCEPTION: Questions relating to corporate image and reputation. Perception of the industry/country-of-origin/corporate brand may also be important.
POSITIONING: In relation to important stakeholders, competitors, and the external environment.
The Ten Ps of the Corporate Marketing Mix
Now this is not the end.It is not even the beginning of the end.But it is, perhaps, the end of the beginning.
Sir Winston Churchill, 1942.