We are in an era of massive disruptions in markets, media, management approaches and business models. These disruptions are being caused by rapid technological changes on the one hand and tectonic shifts in customer preferences and societal behaviour on the other. Marketing knowledge and practices have to advance at a significantly higher pace to address the changing context of market behaviour. Handbook of Advances in Marketing in an Era of Disruptions is meant to share ideas and new knowledge that are relevant to this world of disruptions. Leading scholars from around the world, who have keenly observed the changing market environment, business policies, parameters, theories, methods and practices, have put forth their theses on how marketing thinking needs to evolve to keep pace with the market reality.
Chapter 1: Reimagine Marketing*
Most marketing executives have no say in 3 of the 4 Ps—product, price, place—and limited influence on promotion. The key strategic decisions of the firm are often made without the chief marketing officer (CMO). The tenure of most CMOs is getting shorter and shorter. Most academic publications are being ignored by marketing professionals. Yet marketing professionals and academics have the potential to change the nature and impact of our discipline. To do so, we need, however, to challenge our current mental models of marketing and reimagine the discipline. The paper offers 10 guidelines for reimagined marketing, including a listing of specific experiments that can help us move towards it. I hope that this paper and ...