Several years ago we noted that the 1950s definition of Marketing was mostly in alignment with how we see Marketing; and that what has happened over the intervening years has in fact diminished the role of Marketing to one of marketing communications … mostly.
Proctor and Gamble (P&G) announced a return to a 1950s Brand Management structure and the elimination of the “marketing” titles. They are not eliminating Marketing, just the marketing titles. If one looks carefully at the responsibilities of the “new” Brand Management function, one can easily see a direct parallel to how they were organized in the 1950s.
To us it is a good sign that major companies are moving back to a true Marketing function (no matter what they call it). Marketing is the source of competitive advantage today.