Market Technology: The Missing Link

Although many, aspects of Industry have morphed and changed over the last, few decades, there are several outposts that continue to find their way. In spite of technological advances, process improvements, changing Market and Customer demands, fierce Competition and even the advent of the Internet and powerful, Marketing platforms – like LinkedIn, Facebook and Twitter – the prevailing mindset has not changed dramatically.

In 1981, we submitted a manuscript to Harvard Business School for review and consideration. It was titled, “Market Technology: The Missing Link.”

It certainly would not rival Ted Leavitt’s “Marketing Myopia,” however Market Technology approached the fundamental issue differently and distinctively.

The actual manuscript was a “library of congress” class of document complete with concept overview, relevant models, heavy detailed, descriptors, case examples to demonstrate that the stuff had been applied to the real world, etc.

In its raw form – Market Technology advocated that companies must treat their marketing, sales and business development needs similarly to the way core engineering and product development are handled. Determining the right response and the right mix for a company’s marketing and sales programs is no different than determining a company’s products and services. In fact, conceiving effective programs is as complex and critical to the company’s success, as conceiving its product set. This meant that the Marketing discipline and process need to be integrated into the business. In fact, with small-to-medium, sized companies – the Market Program – is classified, as critical – in that, it could make or break a company.

For smaller firms – they must get it right – out-of-the-gate, and may not get a second chance.

This is one aspect that distinguishes smaller companies from their larger counterparts – as the larger firm can absorb a missed opportunity or loss more readily.

How many companies have you been associated with that thought and operated this way?

Market Technology represents a Mindset, framework, methodology, process orientation and an implementation -ready, program all rolled-up in one, complete package.

In your company, what role does Marketing play?

Most, will respond by indicating that Marketing plays a support role for either the product/service or to provide mainline support to the company’s Salesforce or Distribution Network (Channel Partners).

Reference will be made to Trade Show support, MarComm, collateral material, brochures, data sheets and even the dreaded “lead generation program.”

In your company, what is the stature of Marketing?

There are exceptions (depending on the Industry and Company make-up), however most will indicate that it is not a Leadership role (although the Marketing Team wants it to be).

What is the missing ingredient?

Is it that Senior Management did not come from the Marketing discipline and will not give it its day and cut it loose?

Is it that companies have experienced too, many false starts with their Marketing Program or it just doesn’t work?

Is marketing too, risky and costly compared to making investment in other areas of the company?

Is marketing viewed, as a luxury vs. a mainline contributor?…