Marketing needs reform

Abstract

More than 55 years ago, in 1954, management guru Peter Drucker said ‘Marketing… It encompasses the entire business. It is the whole business seen from the point of view of its final result, that is from the customer’s point of view’ suggesting marketing’s dominance in business. However, over last couple of decades, scholars across the world are debating how marketing profession has lost its clout within the organization and in the market place. In their book ‘Image of Marketing’ published in 2003, eminent marketing scholar Jagdish Sheth along with Rajendra Sisodia and Adina Barbulescu argue that marketing has lost its relevance and needs to redefine itself. The survey results presented by them indicated that 65% consumers have negative view of marketing and further that most professionals (marketing and non-marketing) feel that marketing should have more influence and control over several areas.