Today's Notables

The importance of Marketing (Part 4)

June 2003
Hisashi Furuichi
President and C.E.O.

In last month's Shinko, I mentioned how the three sides of the marketing triangle are closely interrelated and interdependent. All employees, for example, should know the mission of the corporation. What business are we in and what is our company really about? That is the true essence of internal marketing. We will fail if we implement marketing activities that try to answer "What can we sell?" or "What can we do?". Successful marketing comes from a thorough understanding of the customer's viewpoint. Instead of asking "What are we trying to sell?" we need to ask, "What does the customer want to buy?" Marketing starts with this very basic principle of understanding the customer. We need to provide the product and service that gives the customer the solution instead of marketing "what we can do." We can then develop the strategy and techniques to provide that product and service.

As I said before, interactive marketing is crucial in being able to understand first, what the customer will buy, and second, what solution in the form of a product or service they are looking for. Furthermore, if external marketing between the corporation and customer is not linked to interactive marketing, the marketing concept will not function properly. The three types of marketing are interdependent and interrelated. At TK, we have incorporated our internal marketing in the mid-term operations plan along with implementation of ISO, a strategic sales training and a new human resources concept. External marketing efforts have been improved through better advertising, a new company profile, web site and a logo promotional program as part of the mid-term operations plan. Interactive marketing is taking the form of exhibitions and seminars aimed at customers. Marketing to vendors and other stakeholders will become also become more important.

As mentioned previously, marketing our service as well as the product is important and will provide the key to understanding what comprehensive marketing concept will satisfy customers. Marketing is the culmination of policies implemented from the customer's standpoint after careful detailed analysis of the buying and selling process. The Public Relations office was established May 21 with a plan to specifically support these overall marketing operations.

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