Based on that definition, here's what I believe my concept of business or marketing engineering is all about. It is a creative application of a variety of traditional business principles in concert with several other disciplines ranging from psychology and sociology to anthropology, history and more. It's purpose is the design (a keyword) or development of very specific (another keyword) solutions to identified business issues.
Therein is the meat of the matter - identified and another keyword. This is the step that's usually skipped. This is where the engineering comes in. Most business problems are misidentified or misdiagnosed and worse, the solution is either ineffective or it just makes matters worse. Case in point? When the Ford Motor Company was suffering through their Edsel marketing debacle fifty years ago, they made matters worse when they thought their low sales could be fixed by offering buyers, who were sitting on the fence, an incentive. The brilliant solution was: Buy an Edsel get a free pony! A farm animal for an automobile that was DOA (Dead on Arrival) from day one. Sales were low because well, the car didn't match the year-long hype of a brand new concept prior to the roll out.
So, yeah! Ponies are a very logical solution to a problem that just won't be embraced by management. No! The new problem the misguided solution caused was, "now, what do we do with the ponies?" They didn't need another problem. So, just like engineering, business or marketing engineering, is employed at the initial design or development phase. It is also used to make mid-stream corrections. And just as important, it's used to forecast product and business, market or consumer behavior under specific operating conditions with specific regard to the organization's intended function, operation and profitability.
What procedures does a marketing engineer employ to best diagnose what the cause is versus focusing on the effect? The good old, tried and true marketing mix. In my case the expanded version that includes People, Process and Proof of Evidence.
Product? It's amazing how many businesses there are out there that don't really understand what they're selling. McDonald's doesn't sell hamburgers. McDonald's is successful because they know that. They fully understand that they are not in the fast food business. They are in the real estate business. One of the unexpected perks of their enterprise. McDonald's locations are worth billions. McDonald's product isn't their line of fast food items. It's quick convenience. Unfortunately this, in my mind has become a bad thing. They are, not counting the kids, for the most part, no longer an experience destination. You go to the drive up, order and drive away. That's what they do and that's what you go there for. It's not all as simple as I've made it out here but it's the gist of it. In other words know your product and what it represents through the eyes of your customers.
Price? Forget about it! Think value instead. Value is emotion based. Price is logic based. Value is a perception. Price is a reality. Nobody wins on price alone.
Place? Where you do business dictates, for the most part, how you do business. The consumer's online experience is not the same as it is in your store! The keyword here is experience. Whether online or in-store, it's your point of distribution. The point of purchase is the tip of the funnel. Paying attention to where "stuff" comes from and when/where/how it enters the top of the funnel is also very important.
Promotion? It's not only restricted to advertising! Time to wrap your head around the fact that every communication with your business is promoting either good will or keeping business away. Dirty restrooms are detrimental to any advertising and PR efforts and expense. Promotion has to create attention and keep buyers interested. It has to increase a consumer's desire to purchase. Brand building? Sure. But make sure the experience is greater than the hype.
People? The fifth addition to the traditional marketing mix foursome is the glue that holds it all together. Remember to er is human.
Process? The system is the track that keeps the ball-bearings (people) inline and everything operating smoothly.
Physical Evidence? Simply put - if it walks like a duck, quacks like a duck, well... It is what it is. And if a customer says it is so. That's what it is.
Business and/or marketing engineering? It's not a gimmick. It's a way of delivering far better value to clients. No pie in the sky. No yes man routine. No let's throw it out there and see who wants a pony. To borrow from engineering, here's the bending moment principle.
It's the moment when, using Archimedes principle of the lever, when tightening a bolt, you have a choice. Hold the wrench closer to the bolt or grab it at the end. Holding it at the end, away from the bolt, offers the best advantage and the greater force employed influences the intended outcome of tightening or loosening the bolt. Simple enough? But there are other factors to be considered. A longer wrench may in fact bend. It's not the wrench or the bolt but the combination of force and distance. Sometimes the obvious isn't. Business engineering tries to reveal the obvious hidden in plain sight!
As for whether I should stick to Business Engineering or Marketing Engineering? It's like this, so far I'm good with being a Marketing Engineer who does Business Engineering or, maybe I should be a Business Engineer who does Business Engineering. I've got to find a lever!
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.