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Summary Rethinking Marketing (Rust, Moorman, Bhalla)
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Rethinking MarketngRust, Moorman, Bhalla
Many firm aie mtii ranaged am in the 1960m, with ramm raiketm, ramm redia and irpeimnnai
tianmactnnm. Hnwevei, cnrpaniem have a int nf technningiem tn inteiact with cumtnreim, and
cumtnreim expect tn inteiact with cnrpaniem and each nthei tn mhape pinductm and meivicem.
Cnrpaniem rumt mhif theii fncum finr diiving tianmactnnm tn raxirizing cumtnrei iifetre vaiue
(raking pinductm and biandm mubnidinate tn inng-teir cumtnrei ieiatnnmhipms. Theiefnie, the
raiketng depaitrent have tn be ieinvented am a cumtnrei depaitrent.
Cultvatng Custtmererst
Prmduct-eranager driven (tiaditnnai cnrpanys: rany cnrpaniem mtii depend nn a pinduct ranagei
and nne-way ramm raiketng tn pumh a pinduct tn rany cumtnreim.
Custtmerer-eranager driven (cumtnrei cuitvatng cnrpanys: what im needed im cumtnrei ranageim
whn engage individuai cumtnreim tn naiinw megrentm in twn-way cnrrunicatnnm, buiiding inng-
teir ieiatnnmhipm by pinrntng the pinduct cumtnreim wnuid vaiue rnmt.
B2B firm aie nfen advanced in theii cumtnrei niientatnn and mnre B2C cnrpaniem aie raking
nntabie pingiemm:
Temcn: rade mignifcant invemtrentm in anaiytcm that have irpinved cumtnrei ietentnn:
inyaity caidm tn mee wheie and what cumtnrei buy and hnw they pay;
Areiican Expiemm: rnnitnim cumtnreim’ behavinui and iempnndm tn changem by nfeiing
difeient pinductm tn individuaim cumtnreim bamed nn theii changing pinfiem.
Reinventng Marketng
Diiectnim and ranagerent need tn ieinvent the mtiategy and mhif finr tianmactnnm tn ieiatnnmhipm
and cieate the cuituie, mtiuctuie and incentvem necemmaiy tn execute the mtiategy.
The rnmt diaratc change nf becnring a cumtnrei-fncumed mtiuctuie wiii be the raiketng
depaitrent’m ieinventnn am a “cumtnrei depaitrent”.
Chief Custtmerer Ofcer (CCO): They becnre incieamingiy cnrrnn in cnrpaniem wniidwide. A
muccemmfui CCO pinrntem a cumtnrei centiic cuituie and iernvem nbmtaciem tn the fnw nf cumtnrei
infniratnn thinughnut the niganizatnn.
The CCO im accnuntabie fni incieaming the
pinftabiiity nf the fir’m cumtnrei (CLVe
and cumtnrei equity fni exarpies.
In the new cumtnrei depaitrent,
cumtnrei- and megrent ranageim identfy
cumtnreim’ pinduct needm. Biand
ranageim then muppiy the pinductm that
fuifi thnme needm.
Pinduct ranageim rumt mtnp fncuming nn
raxirizing theii pinduct ni biand pinftm
and becnre iempnnmibie fni heiping
cumtnrei and megrent ranageim
raxirize theiim.
Cumtnrei ieiatnnmhip ranagerent
(CRMs im a tnni fni gauging cumtnrei
needm and behavinui, thim im the new
cumtnrei-depaitrent’m centiai inie.
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