Marketing isn’t a department charged with sending out emails, managing trade shows, designing websites, and generating sales leads. Marketing transcends departmental boundaries, driving an organization’s mission, vision, and strategy. Marketing IS business.
Creating customer value is the foundation of effective marketing. It involves three critical steps:
- Identify a customer need
- Develop a product or service to meet that need
- Consistently deliver a superior customer experience
This process can’t happen unless all departments, from Sales to Human Resources to Finance, work together to make the key decisions that support the organization’s objectives. These decisions—such as which customers to target, which needs to satisfy, what products to offer, what prices to set, which distribution channels to use, and what promotions to send out—will determine customer value.
A customer-focused marketing strategy will make the difference between success and failure. It will differentiate your organization in today’s hyper-connected world. That’s why marketing matters.
Where to go next: