Monday, November 17, 2008

Everything They Have Told About Marketing is Wrong

I became a big fan of Uncertainty Principle when I first read it. Every Principles said this happens, that happens, this is possible and that is possible; but when I first read Heisenberg Uncertainty Principle, it was so different. It was saying something that is not possible.

Then one day I got to read a book "Brand Failures" by Matt Haig. Matt has listed all live examples of brand failures; not a book which give you suggestions but a collections of true stories. This is something I loved a lot.

Now in this series, Ron Shevlin has come up with a book "Everything They Have Told You About Marketing is Wrong". I just could not stop laughing while reading this book. Very well written and humorous as Ron always is.
The book has criticized all aspects of Marketing and myths of using Marketing Analytics metrics. I could not agree with him more when he replaced 4 P's of Marketing to 3 P's. In his own words :

Pick up any textbook on marketing and you’re sure to read about the four P’s of marketing: product, place, price, and promotion. These have been the foundation upon which marketing education has relied for forty or so years.

Most marketing departments, however, only practice three Ps of marketing (and different ones than the textbooks preach, at that): 1) Predicting what customers will buy; 2) Pushing a bunch of marketing messages out to those customers/prospects; and 3) Praying for a better response and conversion rate than the last campaign.

Predicting, Pushing and Praying!!! Great choice of words. I think, this is what Marketers and the Marketing Analysts currently believes in. This is certainly not the right way. They should be doing something better --
  • understanding the product better and give right information to the customers.
  • be actively engaged in bettering the sales service and after-sales service.
  • and more ....
Ron calls this Operational Excellence!

"The history of the CIO will repeat itself with the CMO."

His take on the today's problems faced by Chief Marketing Officers role is great. He compares the development of IT as a core business function with that of Marketing. And problems now with CMO were once faced by CIOs.

While WOW is an admirable goal, not only is it NOT the “only marketing that works”, it’s not marketing at all. WOW.

Word of Mouth has been taken as Marketing work till now. But I have never referred any product or service yet for having great Marketing. But I do for various other reasons. I always refer ICICI Bank for Customer Service and Efficient IT Systems (great Net Banking Experience), and I refer Airtel for reliable network, good Customer Service etc. Have you referred any company or brand for Marketing? I would be interested to know.

Thanks Ron for pointing this in a great way. I simply love it.

I have lots of good things to tell about this book, but then you might read this and settle here. But I want you to go and buy this book so that Ron gets reward and you get the complete information.

Remember, not everything in the book is good. If you are not an Analyst, you might not love it. It has hell lots of criticisms for Marketers and their beliefs; and most of these criticisms have come from a Analytical point of view (Ron is a Analyst; No Wonder He Has Done This.)

The book also has lots of suggestions. You will die if you actually go and implement. These are some of the idealistic views of an Analyst to make things work as a trend. But I know, real world business does not work this way. He has put very little examples of how any company or brand has worked, and what worked and what not. But he is focused on hitting the Marketers head ... might be because Marketers didn't listen to him when he gave his analytical findings. Quite Possible!

Anyway this is a must read book by both the Analysts and Marketers. Analysts to know how they can better themselves and become more business friendly; and for Marketers to understand what Analyst have to say.

Happy Reading!! Do not forget to share your views on Ron and the book here. Will love to know those.

Interesting follow up by Deep Sherchan on Engineering Analytics.

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