Thursday, January 29, 2009

Marketing mix: Larger role for corporate communications on anvil

Marketing will be the most important area of expertise for the next generation of leaders, according to a survey of US senior executives.

The study, commissioned by the Institute of International Research, sought to identify key areas for leaders.

Marketing was the clear choice, with 31 per cent of votes, followed by 20 per cent for operations and 16 per cent for financial expertise. Sales and engineering were deemed least critical to leadership with 11 and six per cent respectively, reports Marketing Today.

Marketer Seth Godin attributes the rising recognition of marketing to fierce marketplace competition. “Being good enough is no longer good enough,” said Godin. “This is the most cluttered marketplace in history… Leaders understand that spreading the word about their offerings is the only path to success.”

In spreading word about a company’s products/ services, public relations is considered a powerful business tool. Several global marketing and brand experts have been acknowledged the power of PR. These experts have been urging corporates to use the low-cost tool more effectively.

Considering such advice and the above-mentioned survey findings, corporate communications is set a play a more crucial role in a company’s marketing mix. Watch this space for more updates!


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