Marketing at 3,000 feet
[vc_row][vc_column width=”1/1″][vc_column_text disable_pattern=”true” align=”left” margin_bottom=”0″]I recently read a great post by Anthony Miyazaki, Chairperson, Dept. of Marketing at Florida International University, named The Distribution Approach to Marketing Exchange. This article inspired me to take the age-old approach of stepping outside of an issue to solve a problem by taking a view of marketing at “3,000 feet”.
I think that sometimes in life and in business, we have a tendency to be sure we check off our boxes and continue on to the next thing. The example from the article is the 4 Ps and 4 Cs. We have natural tendencies to say, yes, I have the Product, Placement and other “Ps and Cs” boxes checked continuing on to the next thing and leave the efficacy to curiosity and a bit luck. It is easy to lose the 3,000-foot view, as well as what the process is truly all about…an exchange.
By stepping outside of the check boxes and focusing on the exchange process, I believe we get a more holistic view of marketing, as well as a better understanding of the higher-level forces that are at work during the marketing process. We can then start with the agreement that both the “Seller” and the “Buyer” have a scarcity of resources and leverage the distribution approach to the exchange in order to design a marketing system that is the most efficient and effective for both parties.
We are beginning to see this more in our Critical Documents industry each day. The idea of highly segmented statements, trans promo advertising, onserts, selective inserts, selective web ads, SMS etc are designed to improve the exchange model by helping to lower the transaction costs for the buyer and seller. By lowering the transaction costs, the Buyer and Seller are allowed to interact in ways that are the most efficient for both parties. The seller can use targeted marketing as opposed to a wide blast approach to get the pertinent information to the Buyer. The Buyer will receive only information that relates to their needs in the manner in which they prefer, as opposed to sorting through piles of blast approach fallout. This focused approach is a more efficient conduit for the Buyer to receive information and purchase from the Seller and for the Seller to have a more direct relationship with the Buyer.[/vc_column_text][/vc_column][/vc_row]