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Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia University Global Center, Santiago, Chile Universidad de Chile, Santiago, Chile JANUARY 18, 2018 www.axcesscapon.com © Wessex Press, Inc., 2018. All rights reserved.

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Page 1: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

Managing Marketingin the 21st Century

Noel Capon

R.C. Kopf Professor of International Marketing

Columbia Business School, New York, NY

Columbia University Global Center, Santiago, Chile

Universidad de Chile, Santiago, Chile

JANUARY 18, 2018

www.axcesscapon.com

© Wessex Press, Inc., 2018. All rights reserved.

Page 2: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

www.wessexlearning.com

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Managing Marketing in the 21st Century

Page 3: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

The Acropolis, Athens, Greece

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Page 4: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Shareholder Value

Organizational Survival and Growth

Current and Potential Profits

Attract, Retain, and Grow Customers

Customer Value

Company

CompetitorsCompetitors

The Purpose of Marketing

Page 5: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Broad Canvas: Long-Run Evolution

Scarcity of

Supply

Scarcity of

Demand

Page 6: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

Scarcity of Supply Scarcity of Demand

Key personnel Production VP Marketing/Sales VPs

Firm value Balance sheet assets Customers

Focus of attention Production efficiency Customer Lifetime Value

(CLV)

Critical investment Plant & Equipment Customer Relationship

Management (CRM)

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Major Focus

Page 7: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

Political

Economic

Social/Cultural

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Narrow Canvas: Environmental Pressures — PESTLE

Page 8: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

The Modern Family

Page 9: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

The Modern Family

Page 10: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Narrow Canvas: Environmental Pressures — PESTLE

Political

Economic

Social/Cultural

Technological

Legal/Regulatory

Environmental (physical)

Page 11: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Top 10 Implications for Marketing

• Globalization — stuff, people, data — opportunities, competition

• Product/service innovations

• Purchase benefits/values versus products

• Price pressures

• Product retail — slow death; Service retail — slow growth

• Online/offline integration

• Promotion — shift to Internet, greater personalization, privacy

concerns

• Selling activities — alternatives to on-the-road, 80:20 rule —

national ➡ global

• Organizational evolution

Page 12: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Six Marketing Imperatives

• Imperative 1: Determine and recommend which markets to

address

• Imperative 2: Identify and target market segments

Page 13: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Imperative 2: Identify and Target Market Segments

Two very different marketing tasks• Creative and analytic

• Decision focused

Target market segment

Page 14: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Six Marketing Imperatives

• Imperative 1: Determine and recommend which markets to address

• Imperative 2: Identify and target market segments

• Imperative 3: Set strategic direction and positioning

Page 15: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

• Set performance objectives

• Craft the positioning statement

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Imperative 3: Set Strategic Direction and Positioning

Page 16: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

• Customer targets

• Competitor targets

• Value proposition

• Reason to believe

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

The Positioning Statement

Page 17: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

• Set performance objectives

• Craft the positioning statement

• Address markets in different development stages

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Imperative 3: Set Strategic Direction and Positioning

Page 18: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Address Markets in Different Life-Cycle Stages

Page 19: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

• Set performance objectives

• Craft the positioning statement

• Address markets in different development stages

• Make critical branding decisions

• Do we have a profitable business model?

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Imperative 3: Set Strategic Direction and Positioning

Page 20: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Six Marketing Imperatives

• Imperative 1: Determine and recommend which markets to address

• Imperative 2: Identify and target market segments

• Imperative 3: Set strategic direction and positioning

• Imperative 4: Design the market offer

Page 21: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Design the market offer

• Product

• Price

• Distribution

• Promotion

Page 22: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Six Marketing Imperatives

• Imperative 1: Determine and recommend which markets to address

• Imperative 2: Identify and target market segments

• Imperative 3: Set strategic direction and positioning

• Imperative 4: Design the market offer

• Imperative 5: Secure support from other functions

• Imperative 6: monitor and control execution and performance

Page 23: Managing Marketing in the 21st Century...Managing Marketing in the 21st Century Noel Capon R.C. Kopf Professor of International Marketing Columbia Business School, New York, NY Columbia

www.wessexlearning.com

© Wessex Press, Inc., 2018. All rights reserved. www.axcesscapon.com

Managing Marketing in the 21st Century


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