Monday, 12 January 2009

Goldman Sachs and what i always suspected about Marketing

Marketing is dead. So dead in fact that folks are begining to confuse "communication" with marketing.

GS is looking for a marketer with “15-20 years of experience creating…multinational marketing programs” who will, in the first year on the job, “actively participate, collaborate, and shape a messaging and brand strategy reflects today’s dynamics and the firm’s leadership role in helping to define it.”

Marketing is the act of Segmenting the market/ targeting a consumer and positiong a product/ service.
It rests on Product/ Pricing/ Place (distribution) and Promotions (as necessary).

A CMO must have control over each of the above elements. Most importantly, a CMO must control product pricing. Whatever be the product/ service.

Pricing is the most definitive proof of the marketing team's success.

Take any pof the Ps away form the marketing team, and you kill it.

When a CMO role is defined as loosely as GS has done, all they are asking for is communication people. That's all right, but communication does not marketing make.

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