What is marketing? Text books define it in several ways, but according to Bill Pearce, faculty at the Hass School of Business at the University of California, Berkeley, marketing is the product, your store or site, the experience you give to your customers, and ultimately it is YOU and your company.
While it’s tough for us to pick the best marketer, we can find companies that create “unimaginable differentiation” in a particular market. Pearce cited Cirque de Soleil, that has made all it’s competitors irrelevant in a short time span. The tactic? They delivered product differentiation while lowering costs by a third.
Basically, they reinvented a dead industry- circus. They went from a $100 million company to a $700 million company while their major competitor Ringling Bros “did the same thing they always did.”
Pearce was speaking at a Phoenix marketing summit organized by the Greater Phoenix Chamber of Commerce earlier today. He said marketers shouldn’t assume nor should they care about the whiners inside your business. Instead, “use your constraints as a catalyst for change.”
Good marketers ” look at what everyone else looks at but sees what no one else saw.” They convey rational thoughts and emotions through their brands.
Ultimately, every company should ask: Do we delight? This mindset is what marketing is all about.
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