The Marketers

Backpack
As summer winds down here is some required reading from
some of the worlds finest marketing professors & educators.

INTRODUCTION
Remember when you were younger and over the summer
you pretty much forgot everything you learned in school
the previous year? Of course you do. Cmon admit it. We
understand for sure. Hey its summer vacation, we get it!
Today, however, we live and work in the real world and while
we may get to take a vacation during the summer, we no
longer can afford to forget anything.
As the summer vacation season winds down, at least in
the northern hemisphere, we figured it was a good time to
remind marketers of the key supplies and tools they need
and to make sure they are in their proverbial backpacks as
they gird up for the change of season.
But wait theres more much more.
In addition to learning some marketing basics you need to
always remember, you will also read right from the proverbial
horses mouth, as it werethe type of content educators
are teaching the marketers of tomorrowplus other
interesting insights.
So get two No. 2 sharpened pencils ready, sit up straight
and pay attention to the teacher at all times and an apple
wouldnt be a bad idea, either.

The Marketers Backpack | 2

THE FACULTY

BARBARA KAHN

PATTY AND JAY H. BAKER

PROFESSOR OF MARKETING
The Wharton School of Business,
University of Pennsylvania

MARK SCHAEFER

MARKETING CONSULTANT, COLLEGE

EDUCATOR AND AUTHOR
Rutgers University

JOSH MURDOCK

PROFESSOR OF EDUCATIONAL
TECHNOLOGY & SOCIAL NETWORKING
Valencia College

PETER FADER

PROFESSOR OF MARKETING, CO-DIRECTOR OF

WHARTON CUSTOMER ANALYTICS INITIATIVE
The Wharton School of Business,
University of Pennsylvania

JESSICA ROGERS

COCE FACULTY, GRADUATE SOCIAL

MEDIA AND MARKETING
Southern New Hampshire University

ERIC BRADLOW

K.P. CHAO PROFESSOR OF MARKETING,

STATISTICS, AND EDUCATION
The Wharton School of Business,
University of Pennsylvania

JEFFREY L. COHEN

DISTINGUISHED LECTURER IN MARKETING

ANALYTICS AND SOCIAL MEDIA
Ball State University

The Marketers Backpack | 3

THE CURRICULUM
Marketing 101

The #1 thing marketers may have lost sight of over the summer.

The Same, Only Different

What are your observations with respect to the nuances of the

B2B and B2C marketing disciplines?

Share & Share Alike

What do you think a B2B marketer can learn from B2C or vice versa?

Compare & Contrast

Can you compare and contrast the curriculum that youre teaching
and the current roles and responsibilities of todays marketers?

What s in it for me, the marketer?

What will you teach my future employees this year?

The Marketers Backpack | 4

MARKETING 101

THE #1 THING MARKETERS

MAY HAVE LOST SIGHT OF
OVER THE SUMMER

BARBARA KAHN:
While customers do respond to marketing messages, they also form
impressions based on their own experiences or from other customers
experiences. If customers resonate with your marketing strategy and
your offerings, they can become your best advocates.

ERIC BRADLOW:
I would say that the biggest missed takeaway is within-person heterogeneity.
What I mean by that is that people have recognized for a long time that
customers differ from each other and it is why segmentation has become so
popular in marketing. However, segmentation is based on a mistaken premise
that there is only one version of each customer. I disagree with this premise.
People buy products and services with different identities and thus within-person
heterogeneity is just as important as between person. This is why geo-targeting has such
high promise because it can target you based on your location/identity at a given moment.

JOSH MURDOCK:
Its not always about the numbers, its about the community you are building.
Sometimes this can be hard for those outside of social media to understand
because of the focus on numbers in regards to marketing. A strong community
that supports the business or efforts of an organization can be more powerful
than an ad. With a strong community the numbers will be there in the end.

The Marketers Backpack | 5

MARKETING 101

THE #1 THING MARKETERS MAY HAVE

LOST SIGHT OF OVER THE SUMMER

MARK SCHAEFER:
We have seemingly created a
digital divide between ourselves
and our customers. We tend to
treat people differently online than we would
treat them in real life. We shout at them, peddle
to them, and market to them online when all
they really want to do is play Farmville.
While people may avoid our selling efforts,
they will be attracted to our helping efforts.
Be human in your online presence, be
helpful, and be honest. That's how business
relationships form in real life and also online.

JEFFREY L. COHEN:
Too many marketing
activities are siloed from the
top-level business objectives of
a company, and are not measured against
metrics that others in the company care
about. If your executives follow daily, weekly,
or monthly numbers related to things like
sales, customer retention, cost savings, and
customer satisfaction, then reporting softer
marketing numbers will not win any points with
those executives. Marketers need to find ways
to tie their efforts to those business metrics.

JESSICA ROGERS:
Often new technology is either
not embraced quickly enough
by marketing organizations, or
it is embraced and looked to as
a fix it all strategy. Specifically
I am seeing Social Media being
looked to as a solution for far too
many problems. Social Media is a tool
for marketers; it is to be used in conjunction with other
marketing tools with a solid understanding of marketing
first and foremost. The most successful marketing
regardless if it is social or notrevolves around market
segmentation and a traditional marketing concept such
as AIDA (Attention-Interest-Desire-Action.)
You have to get your customers Attention, build their
Interest in your product, and convince them they want
your offer by building Desire. Finally, the consumer will
take Action and make a purchase. Social media can be a
tool to accomplish all of this. In some ways, it can be a
better, more efficient way, but again it is still just a tool
in your marketing tool belt.
Traditional marketing and social media marketing must
be integrated and nurtured in order to realize the full
potential of a very powerful combo. Without fully
integrating the two, businesses can take on great risks
related to over-dependence on one or over-use of
another. Businesses must define their strategy, roles,
and expectations of social media before integration and
implementation. They must also understand tactics
are far different from strategies. Simply knowing
how to use social platforms does not constitute
marketing, social activity must be done with a
marketing strategy in place, it must have some
sort of rhyme or reason.

The Marketers Backpack | 6

THE SAME, ONLY DIFFERENT

WHAT ARE YOUR OBSERVATIONS

WITH RESPECT TO THE
NUANCES OF THE B2B AND B2C
MARKETING DISCIPLINES?

PETER FADER:
I think that the B2B vs. B2C distinction is largely an artificial one, and we make
too much of it. Well-constructed marketing courses will draw examples from (and
offer applications to) both domains in a relatively balanced manner. I would rather
extract away from any particular industry sector and teach the general principles of
how customers (however they are defined) behave over time. The basic patterns are
remarkably robust across domains, but we rarely teach them to our students.
So lets teach customers doing things over time in a lot of detail, and
then focus on the nuances that vary from one setting to another.

MARK SCHAEFER:
I'm generalizing, but usually the dataset for B2C is much larger than B2B. The
challenge is that the truth and opportunities don't lie in the big data. They are in
the little data at the edges. If you make decisions based on averages and Pareto
charts, that is lazy marketing. The insights and innovations are likely to be in the
solitary comments on the fringe that indicate a shift, an idea, a breakthrough.
I believe these were probably easier to come by when we were standing on
the shop floor talking to customers but now that the data is so vast and cold it
is going to take a deeper effort to fight for the wisdom in the small numbers.

The Marketers Backpack | 7

THE SAME, ONLY DIFFERENT

WHAT ARE YOUR OBSERVATIONS WITH

RESPECT TO THE NUANCES OF THE B2B
AND B2C MARKETING DISCIPLINES?

JOSH MURDOCK:
Understanding analytics at its core can help marketers understand their
customers and community better. Data can be overwhelming until its put into
simple terms, connected together, or able to analyze easier. B2B needs to look at
the data of their customers or potential customers to understand how they can
help them or bring them value. B2C needs to bring correlation between what they
are doing to unify their marketing efforts and how their customers are reacting.

ERIC BRADLOW:
When it comes to CLV, targeted marketing, etc the key is that the methods are
unit agnostic. Whether I am dealing with a customer or a business client, data-driven
insights are relevant. What does change in a B2B setting is that the frequency of
transactions and the ability to collect business-level data is typically less. Furthermore,
decision-making of a business unit as opposed to an individual is very different and
hence non-optimality tends to be more prevalent in a B2B setting.

JEFFREY L. COHEN :
As a lifelong B2B marketer, and co-author of The B2B Social Media Book,
B2B marketing makes sense to me. No matter what techniques you use, you
are ultimately driving prospects into a buying process where you can track
where they came from. While selling through a distribution network can
complicate things, a company sales rep, or someone no more than a couple
steps removed away from the company, handles B2B purchases, making
tracking possible. I have never understood how Coca-Cola marketers can
track their efforts to sell a bottle of Coke at the grocery store or convenience
store. This action is too far removed from their brand marketing and
advertising to attribute action to particular campaigns.
The Marketers Backpack | 8

SHARE & SHARE ALIKE

WHAT DO YOU THINK A

B2B MARKETER CAN LEARN
FROM B2C OR VICE VERSA?

JOSH MURDOCK:
Many times B2B forgets that behind business are people. People and
building community with people is what successful B2C marketers
understand. How can you build your community between other business
in B2B is by sharing community, building community among clients, and
realizing real people are still behind these businesses.

Many times B2B forgets that behind business are people.

JOSH MURDOCK

BARBARA KAHN:
In both situations, the core premise is customer-driven insights. In B2B
there tends to be fewer customers who are perhaps more rationally driven
in their decision making. Developing customized solutions can engender
strong loyalty. In B2C, there are usually many more customers, but insights
can be gained from some customers experiences that can be translated or
recommended to others.

The Marketers Backpack | 9

SHARE & SHARE ALIKE

WHAT DO YOU THINK A B2B MARKETER

CAN LEARN FROM B2C OR VICE VERSA?

JEFFREY L. COHEN:
B2B marketers can learn creativity, creating an emotional response and
storytelling from the B2C pros, and B2C marketers can learn more about
calls-to-action, attribution, and leading a buyer through a journey from their
B2B brethren.

All industries can learn from each otherif they were

willing to accept the fact that the basic behavioral patterns
are astonishingly similar across domains.
PETER FADER

PETER FADER:
All industries can learn from each otherif they were willing to accept the fact
that the basic behavioral patterns are astonishingly similar across domains. Every
company does some things well and other things poorly, but they spend way too
much time convincing themselves why their industry (and company) is unique.
Instead they should actively look for (and celebrate) the similarities rather than hyping
up the (surprisingly small) differences. This is part of taking a truly scientific approach
to marketingconstantly learning to find the core principles and their limiting
conditions. This kind of cross-industry learning should be baked into the professional
development activities for every company, but it happens very rarely.

The Marketers Backpack | 10

COMPARE & CONTRAST

CAN YOU COMPARE AND CONTRAST THE CURRICULUM

THAT YOURE TEACHING AND THE CURRENT ROLES
AND RESPONSIBILITIES OF TODAYS MARKETERS?

PETER FADER:
Unfortunately, most of todays
marketers are barely different
than yesterdays marketers,
and that goes right back to the
fact that todays marketing courses are barely
different from yesterdays courses. So we keep
reinforcing bad ideas (e.g., heavy reliance on
demographics) and inefficient practices (e.g.,
trying to train our low-value customers to
take on higher value behaviors). Beyond all the
shiny new toys that todays marketers have at
their disposal, the basic way that marketing is
practiced is all too similar to how Don Draper and
his Mad Men colleagues practiced it. And this
is a darn shame, since Don et al, couldnt have
known nearly as much about their customers as
we can know today. We need to more actively
pivot from product-centric to customercentric thinking, but its been a very slow
and uneven process so far.

JEFFREY L. COHEN:
I am teaching students about
the importance of their public,
online presence and how
to keep up with a constant
flow of information in their
industry. This would not be an
explicit part of their marketing role,
but an understanding of this will make them
stronger marketers. Traditionally, it has been social
media savvy folks on the team who really understand
how to build a personal presence and follow all the
right sources in a manageable way, but these skills are
important as a solid foundation for all marketers.
Students learn how to create and analyze social media
marketing campaigns that resonate with customers,
B2B and B2C, and are based on solid marketing and
business principles. Proper goal setting and how to
review analytics to understand success are also a key
part of my learning objectives. This fits in with the skills
and requirements of marketers in the field. Marketers
create campaigns, analyze competitors campaigns, and
review the success of their own efforts.

JOSH MURDOCK:
Im focused on putting personal networking and personal branding as any important skill to
understand that will help you work with business in developing an identity and community
for themselves. If you dont practice what you preach in your own social networks, how can
you expect businesses to believe you can make the magic happen for them?

The Marketers Backpack | 11

WHATS IN IT FOR ME, THE MARKETER?

WHAT WILL YOU TEACH MY

FUTURE EMPLOYEES THIS YEAR?

ERIC BRADLOW:
The key to modern marketing is that individual-level data is now available which
allows for targeting of customers with customized products, prices, coupons,
recommendations, etc. The content that I teach in the classroom is this customer
analytics oriented philosophy and associated methods so that the students
recognize each customer as a profit center and a firms ability to be profitable in
the long-run relies on maximizing customer value. What this also implies is that
some customers need to be fired because their costs outstrip their revenue.
This customer-focused orientation has implications for what data you capture,
what employees you hire, and the firm culture of data-driven decision making.

The key to modern marketing is that individual-level data is now

available which allows for targeting of customers with customized
products, prices, coupons, recommendations, etc.
ERIC BRADLOW

BARBARA KAHN:
I teach Customer Behavior and Strategic Brand Management. The core principle is
the idea of customer-based marketing (as opposed to product-based marketing). In
product-based marketing, if customers want your product they come to you. Here it
makes sense to focus on product attributes, and growth comes from developing new
products based on shared product experience or selling products to new markets. In
customer-based marketing, you focus on what customers value and offer products or
services that meet these needs better than the competition. Since all customers are
not the same, this requires the marketer to segment the market and target strategic
segments. Brands need to foster an emotional, authentic connection with the customer.
They need to engender trust and generate strong loyalty.
The Marketers Backpack | 12

WHATS IN IT FOR ME, THE MARKETER?

WHAT WILL YOU TEACH MY FUTURE

EMPLOYEES THIS YEAR?

JOSH MURDOCK:
The newest course I have
been teaching is called Social
Networking for Job Search,
geared to preparing students to
find jobs after graduation utilizing various social
networking platforms and best practices. Learning
how to use social networking skills as a tool to
build your personal learning and professional
networks should be happening while students
are in college. Understanding the power of
various networks, especially by growing
the connection utilizing social media is
important in learning and networking with
professionals around the globe.

JEFFREY L. COHEN:
I start by explaining the difference
between personal social media,
which is what most college
students do, and professional
social media. They need to understand
the importance of a professional profile, not
just on LinkedIn, but on all social platforms, if
they are going into marketing. This is part of the
transition to the working world. I tie social media
to business results and the basic principles of
marketing, so students understand the value
of social media to an organization. I go through
major and minor social platforms, looking at
current examples and best practices, so students
have an understanding of what is happening
right now in social media marketing.

PETER FADER:
I teach two related (and
unique) elective courses. One
of them (Applied Probability
Models in Marketing) teaches
MBA and undergraduate
students how to build
predictive models from scratch
that are practical, powerful, and
portable. It is one of the most
popular electives at Wharton, and employers love
to cherry pick students from it to apply these skills
directly to their data-driven problems.
A few years ago, a bunch of MBAs came to me and
asked for a new courseone that will let them take
those same models and build customer-centric
strategies around them. This other course (Managing
the Value of Customer Relationships) has also
become very popular, and has been extended to
my recent book Customer Centricity: Focus on the
Right Customers for Strategic Advantage, a course
entitled An Introduction to Marketing and an onlineonly executive education course, Strategic Value of
Customer Relationships.
So employers are thrilled by my current teaching,
and its really great for me to see how much demand
there is for these offerings.

The Marketers Backpack | 13

Class dismissed.
Go forth, apply what you learned, and always
keep a copy of this in your own backpack.

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