Gurus On Marketing

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The following extracts come from: Jagdish Sheth and Andrew Sobel (2000). ‘Clients For Life: How Great Professionals Develop Breakthrough Relationships’. Simon & Schuster. This book is aimed at professionals who want to develop long-term client relationships. The book develops what the authors call the ‘developmental journey – from expert for hire to trusted adviser’: • Clients today are very discriminating and highly sophisticated and educated individuals. • Some professionals are treated like vendors. • Most professionals would like to be extraordinary consultants and provide value to their clients. • The professionals are categorised into: 1 service professions like lawyers, accountants, management consultants, 2 sales executives – business consultants and 3 staff and functional managers. • Clients want their advisers to be good listeners, empathetic, have conviction, have good bedside manners, and people who can see the big picture. • They highlight these three barriers to developing breakthrough relationships: 1 Specialisation. 2 Expertise is becoming automated and reduced to a commodity. 3 Many professionals are held back by stereotypes about what clients want them to be and how they should behave. 122 GURUS ON MARKETING
• To create value for clients they present the following formula: Insight x Collaborative Relationships = Client value. • The attributes that represent insight are: selfless independence, empathy, conviction, integrity, ability to think and reason, ability to synthesise, and judgement. These attributes contribute significantly to the professional’s effectiveness. ‘These are the qualities that foster the development and the insights and relationships that lead to consistent value creation for clients, and they are the characteristics that great advisers themselves have intuitively developed. If you want, in short, to become an extraordinary professional who commands unwavering client loyalty, you need especially to develop and strengthen these attributes.’ The content of this book and the subject matter reflects the agility of mind of Professor Sheth. He and his co-author have focused on clients as opposed to customers. They write: ‘The distinction between a client and a customer is more than semantic. Customers, for example, buy a product or service with well-defined characteristics that match their needs, with little or no negotiation and discussion between buyer and seller; the professional’s relationship with a client, in contrast, has a consultative aspect to it – there is a give-and-take to clarify needs, identify problems, and recommend solutions. While there doesn’t have to be a personal relationship between a customer and the seller of the product or service, with a client there is typically a close, personal relationship with a high degree of trust. Finally a professional offers a client an authoritative body of knowledge and expertise...’ This book is very valuable in addressing the needs of clients – yet another dimension of present day marketing. EIGHT JAGDISH SHETH 123
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gurus on Marketing Sultan Kermally
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GURUS ON MARKETING SULTAN KERMALLY
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Dedication This book is dedicated t
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Acknowledgements This book would no
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About the author Sultan Kermally is
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Contents Introduction 1 The relatio
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SIX Tom Peters 89 Close to the cust
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Introduction Gurus are management t
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This book considers the following g
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Michael Porter Michael Porter is th
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Philip Kotler Philip Kotler is the
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Plan of the book The book begins by
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ONE The fundamentals of marketing T
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Kotler 3 then advocated the importa
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Characteristics of service They are
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• Consider the promotion budget.
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For example, if an organisation is
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Brand extension Brand extension is
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Marketing strategy Marketing strate
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According to Warren J. Keegan 11 :
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L M N O P Q R S T U V Listen to you
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TWO Peter Drucker Peter Drucker is
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The thinking was heavily influenced
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Where does Peter Drucker come in? S
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The customer as the decision-maker
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What do marketing gurus and writers
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Writers on marketing since Drucker
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Some organisations now use very sop
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THREE Theodore Levitt On marketing
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He put forward four conditions whic
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Marketing Myopia was a landmark art
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Decline After the maturity stage wh
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Nariman Dhalla and Sonia Yuspeh in
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Technological advances have resulte
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This was Professor Levitt’s semin
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FOUR Michael Porter Michael Porter
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4 the bargaining power of buyers, 5
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‘A market signal is any action by
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Criticisms of Porter’s Five Force
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in the buyer’s value chain, which
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A differentiation strategy This str
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Factors which are likely to make a
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Page 87 and 88: FIVE Philip Kotler Kotler on market
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Page 95 and 96: Micro perspective Kotler then moves
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Page 101 and 102: At the feet of Philip Kotler: Lesso
Page 103 and 104: SIX Tom Peters In terms of ‘guru
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Page 107 and 108: Closing remarks: A controversy ‘W
Page 109 and 110: The emphasis is on applying technol
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Page 113 and 114: • Invite customers to visit any f
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Page 117 and 118: Peter’s key publications • Pete
Page 119 and 120: SEVEN George Day George day is Geof
Page 121 and 122: These strategies are similar to Por
Page 123 and 124: You cannot take an internally focus
Page 125 and 126: KNOWLEDGE@WHARTON Isn’t Ford’s
Page 127 and 128: ings. These included the high value
Page 129 and 130: Configuration perspective Day found
Page 131 and 132: He has published extensively in var
Page 133 and 134: EIGHT Jagdish Sheth Dr. Jagdish She
Page 135: Various studies reinforce the point
Page 139 and 140: At the feet of Jagdish Sheth: Lesso
Page 141 and 142: NINE Thomas T. Nagle Nagle on prici
Page 143 and 144: • Understanding price sensitivity
Page 145 and 146: At the feet of Thomas Nagle: Lesson
Page 147 and 148: TEN Gurus and strategic analytical
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Page 155 and 156: Shell Directional Policy Matrix She
Page 157 and 158: Opportunities In scanning the exter
Page 159 and 160: The STEP analysis (sometimes known
Page 161 and 162: STEP factors influence significantl
Page 163 and 164: Benchmarking According to Philip Ko
Page 165 and 166: ELEVEN Further information Suggeste
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Page 169 and 170: 14 Drucker, Peter, ‘Innovation an
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Page 173 and 174: Thorogood publishing Thorogood publ
Page 175 and 176: Other titles The John Adair handboo
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