Grahame Dowling
- Published in print:
- 2004
- Published Online:
- October 2011
- ISBN:
- 9780199269617
- eISBN:
- 9780191699429
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199269617.001.0001
- Subject:
- Business and Management, Marketing
If an organization has customers, it needs to understand marketing. To achieve the best results from marketing requires a subtle blend of art and science. It can also benefit from recommendations for ...
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If an organization has customers, it needs to understand marketing. To achieve the best results from marketing requires a subtle blend of art and science. It can also benefit from recommendations for practice rather than lists of options from which to choose. The art of marketing comes from the doing of marketing — implementing programs to attain and retain customers, and seeing what actually works. This is the province of marketing managers, direct marketers, advertisers, and consultants. The examples of good and bad practice used throughout this book illustrate this approach. The science of marketing comes from research — about markets, customers, competitors, and how effectively various types of marketing programs work. This is the province of academics and market researchers. The science of marketing provides the foundations for good marketing practice. Sometimes this science is ignored in the rush to embrace new ideas and technologies. For example, the long scientific history of the adoption and diffusion of innovations says that the Internet will take a long time to fundamentally change the way large numbers of customers buy their products and services. If more managers and investors had understood this, then many dot. coms would not have become dot. bombs. This book blends art and science to provide insight for marketing managers about how to implement marketing more effectively to both create and capture the value of the offers they make to their target customers. In the process it questions the usefulness of some of the more recent marketing fads.Less
If an organization has customers, it needs to understand marketing. To achieve the best results from marketing requires a subtle blend of art and science. It can also benefit from recommendations for practice rather than lists of options from which to choose. The art of marketing comes from the doing of marketing — implementing programs to attain and retain customers, and seeing what actually works. This is the province of marketing managers, direct marketers, advertisers, and consultants. The examples of good and bad practice used throughout this book illustrate this approach. The science of marketing comes from research — about markets, customers, competitors, and how effectively various types of marketing programs work. This is the province of academics and market researchers. The science of marketing provides the foundations for good marketing practice. Sometimes this science is ignored in the rush to embrace new ideas and technologies. For example, the long scientific history of the adoption and diffusion of innovations says that the Internet will take a long time to fundamentally change the way large numbers of customers buy their products and services. If more managers and investors had understood this, then many dot. coms would not have become dot. bombs. This book blends art and science to provide insight for marketing managers about how to implement marketing more effectively to both create and capture the value of the offers they make to their target customers. In the process it questions the usefulness of some of the more recent marketing fads.
Grahame R. Dowling
- Published in print:
- 2004
- Published Online:
- October 2011
- ISBN:
- 9780199269617
- eISBN:
- 9780191699429
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199269617.003.0014
- Subject:
- Business and Management, Marketing
This chapter reflects on the lessons relearned in the process of creating the book. Some of these lessons were: Do not get captured by every marketing fad. Most of them have appeared before using a ...
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This chapter reflects on the lessons relearned in the process of creating the book. Some of these lessons were: Do not get captured by every marketing fad. Most of them have appeared before using a different name. Do the planning, simply because its value lies in the discipline of the process. Develop an organizational culture that understands and respects the role of marketing. Create a supportive organizational infrastructure. Strive to quantify the impact of marketing programmes, but be careful how things are measured and how measures can take on a life of their own. Understanding customers is good marketing practice. Tactical segmentation is the key to unlocking this insight.Less
This chapter reflects on the lessons relearned in the process of creating the book. Some of these lessons were: Do not get captured by every marketing fad. Most of them have appeared before using a different name. Do the planning, simply because its value lies in the discipline of the process. Develop an organizational culture that understands and respects the role of marketing. Create a supportive organizational infrastructure. Strive to quantify the impact of marketing programmes, but be careful how things are measured and how measures can take on a life of their own. Understanding customers is good marketing practice. Tactical segmentation is the key to unlocking this insight.
Daniel Beunza
- Published in print:
- 2019
- Published Online:
- May 2020
- ISBN:
- 9780691162812
- eISBN:
- 9780691185996
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691162812.003.0006
- Subject:
- Business and Management, Organization Studies
This chapter shifts the focus from the traders to the managers who supervised them. It considers in particular the issue of risk management through three different managers: the head of Risk ...
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This chapter shifts the focus from the traders to the managers who supervised them. It considers in particular the issue of risk management through three different managers: the head of Risk Management at International Securities, a senior trader who was in charge of Todd's desk, and a manager whom Bob had tasked with promoting collaboration across desks. The challenges and difficulties these three individuals encountered revealed the organized and to some extent hierarchical nature of professional trading. It also highlights the need for an organizational lens. The chapter's observations of these managers also point to a difficult tension between technical and managerial expertise.Less
This chapter shifts the focus from the traders to the managers who supervised them. It considers in particular the issue of risk management through three different managers: the head of Risk Management at International Securities, a senior trader who was in charge of Todd's desk, and a manager whom Bob had tasked with promoting collaboration across desks. The challenges and difficulties these three individuals encountered revealed the organized and to some extent hierarchical nature of professional trading. It also highlights the need for an organizational lens. The chapter's observations of these managers also point to a difficult tension between technical and managerial expertise.
