It is axiomatic that marketers should know their customers. In many firms, it is the role of marketing to speak for the customer – to represent the needs of and advocate for customers, and to build and maintain relationships with customers. These activities are essential to the long-term survival of the firm because customers are the ultimate source of revenue and other resources necessary for the firm. Without customers, a firm does not last long....
Branding is a business strategy. It can justify higher margin because customers trust the brand based on their prior experience or because the brand is the best match for their preferences with respect to one or more product characteristics. The value of the brand to the firm is the price premium it commands.
A recent study by McKinsey & Company documents the continuing decline in the influence of the marketing function and the growing frustration of CEOs with the contribution of marketing. Much of this frustration stems from marketers’ inability to clearly explain how marketing activities contribute to the firm’s financial performance and the continued use of metrics like brand awareness and brand equity as evidence of performance. There is, of course, nothing wrong with measures of brand health,...
The 2025 CMO Survey, conducted annually by Deloitte, The Fuqua School at Duke University, and the American Marketing Association, was published recently. While the survey offered some good news for marketers, concluding that marketing’s role in organizations has broadened and marketing’s influence has increased modestly over time, a deeper analysis of the survey results reveals some problems, especially for marketing’s contributions to brand building, growth, and profitability.
In 2000, political scientist Robert Putnam lamented the growing social isolation and loss of social capital in American society. In his book Bowling Alone: The Collapse and Revival of American Community, Putman documented the declining participation in civic, religious, sports, volunteer, and fraternal organizations, among others. Associated with this decline is a loss of the social relationships that create a sense of shared values and common purpose.
