Purpose Based Marketing?
According to the Wall Street Journal, “Jim Stengel, the outgoing global marketing chief at Procter & Gamble, is moving from the big advertiser to a small start-up, hoping to remedy some of what he thinks is wrong with the industry.” The new shop will be his.
The 25-year P&G vet has a new way of selling called “purpose-based marketing.” He says it is about “defining what a company does — beyond making money — and how it can make its customers’ lives better.”
The article sites Pampers brand as an example of the type of marketing he intends to create. Here’s a link to the the article, (but you may need to be a subscriber.)
As always, if the advertising and marketing sells more of the products and services, it will be successful. In order to do such, he’ll need to be able to track and measure effectiveness. I guess if it goes beyond making money, we’ll have to assume that gaining a profit is a given.
