Thursday, April 8, 2010

Ivory tower myopia ails marketing


From The Sagacious Friend...found after a long chat about experience versus academic research...

Ivory tower myopia ails marketing

LONG after marketing graduates have forgotten what the fourth P in the marketing mix - product, price, place and promotion - stands for (except when they look at the advertising agency's invoice and think it is profligacy), they remember Theodore Levitt.

Levitt changed marketing with his 1960 essay Marketing Myopia, which argued companies grow when they look beyond the products and services they sell to consider what the market needs.

But marketing academic Peter November, from Victoria University of Wellington, says no journal would accept it now: "It is a persuasive piece of writing but it's not a quantitative study." Hence, the title of November's 2004 essay, Seven Reasons Why Marketing Practitioners Should Ignore Marketing Academic Research.

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