I ran across an article on “Navigating the Marketing Measurement Maze” from The Journal of Integrated Marketing Communications and, while it is a journal focused on marketing communications, it nevertheless got my attention because of the authors’ apparent lack of understanding of what Marketing really is about.
A section of the article stated “Market characteristics also change often due to competitive and external forces. For example, a pantyhose manufacturer released a new product only to have a competitor almost immediately replicate the product at a lower price. Unless the original manufacturer’s metrics account for relative pricing across the category, these measures may incorrectly attribute the unsuccessful product launch to the marketing or product design itself.”
Excuse me, but since when do you think Marketing is not responsible for predicting and reacting to competitive responses to new product introductions? The vast majority of new products introduced into the market fail. Due to a lack of effective Marketing … and I don’t mean just marketing communications.