By The CIM, Jeremy Kourdi
This ebook celebrates a hundred years of promoting, analyzing its improvement and evolution and highlighting key themes that experience outlined the topic in that interval, and that may form the future.
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Additional resources for The marketing century : how marketing drives business and shapes society : The Chartered Institute of Marketing
Carefully timing and executing the product launch. The business needs to maintain an external orientation to make sure that the launch is timely and successful. Marketers also need to design the most effective ‘go to market’ strategy for the new product and suc cessfully execute the campaign. • Coordinating the work of different departments. Coordination is vital if a new product is to be developed and launched successfully. The one factor that unites everyone in the business is the customer, and an essential aspect of marketing is making sure that everyone in the business is coordinating their work and focusing on the customer.
These people tend to be afﬂuent, well-educated, very privileged and independ ent thinkers. Often, they do not care much what other people think of them. This group is crucial in getting any new product or service adopted. Opinion Leaders are followed by a much larger group known as the Early Majority. These people admire the Opinion Leaders and aim to emulate them. When these people start to enter a market, there is a rapid growth in sales. By now, approximately 50 per cent of all those who could adopt the new product have done so, and it is here that the Late Majority begin to enter the market.
Regardless of all the undoubted progress in techniques and strategy, we were clearly missing something quite fundamen tal. We needed to understand the essential nature of how ideas and innovations get adopted and diffuse through the market. This search has taken us on a root-and-branch investigation of market dynamics, psychological factors and human behaviour to arrive at a deeper understanding of customers. INNOVATION The experience of innovation in organisations has shown that marketing cannot be viewed in isolation.