Saturday, November 04, 2006

Finance or Marketing - which are the real business people?

There seems to be a continued version of C. P. Snos's "two cultures" in business. Twenty years ago, marketing provided more CEOs than Finance, whereas now, the reverse is true. The fact is that business needs both disciplines. However, having said that, many marketers are not disciplined. There is a tendency among some to admire undirected creativity, and to consider measurement to be a constraint. The fact is that marketers can only succeed if they apply the same processes that finance people do to measurement. Good marketing needs to be treated in much the same way that an engineer treats physical phenomena. Develop a solution from first principles, and then test the outcome, first in the lab, then in the real world. Sadly, now, some marketers are not business people at all, whereas all finance people are.

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