|
MARKETING, MANAGEMENT AND
ECONOMIC CONSULTANTS
Why three in one?
Because all three are an integral part of the true Marketing concept.
When ‘The USA Science of Marketing’ first came to be known in the UK during the 1950’s, it was in direct competition with the UK Advertising industry which until then had completely dominated the commercial promotion of products and services by means of press and cinema advertising as well as printed material. Television advertising was yet to come. ‘Pots of gold’ were produced by clients on Advertising Agency board room tables and the agencies spent the proceeds on media which provided them with between 12% - 15% commission. At no time was any consideration given to the way products were distributed from factory to retailer to consumer nor indeed as to how much advertising expenditure was being wasted. The fifties were the heydays of the advertising industry.
The development of the Marketing Concept in the UK during the 1960’s was concentrated on:
- Defining consumer needs whether latent or apparent
- Delivering the product or service to meet this demand
- Planning and developing the selling and promotional skills required to achieve profitable sales
- Evaluating the risks involved
By the late 60’s, advertising budgets allocated to Agencies started to be reduced at the expense of clients developing their own in-house marketing divisions. Independent Marketing Consultancies were also soon established to assist companies at board level.
However by the eighties and nineties well established Chartered Accountancy practices started to ‘cash in’ on the development of marketing skills in the UK by recruiting their own teams of Marketing Consultants, many of whom had only recently graduated from university with no ‘hands on experience’. It was during this time that the two largest market forecasting disasters occurred in the UK - the Dome and the Channel Tunnel.
At the same time the true understanding of Marketing began to be lost as ‘new media’ selling agencies used the name purely for promotional reasons.
Meanwhile in an effort to regain lost revenue Advertising Agencies started their own Marketing Consultancy divisions in the late nineties. This internal advice from one division to another created a vested interest in the placing of client budgets into commission earning advertising media without any form of analysis to ensure the minimum wastage factor.
After 50 years the credibility of the Marketing profession has floundered and now needs to be re-established to re-incorporate those skills which had always been part of the true Marketing concept - namely Economic feasibility and Management
re-structuring. To re-emphasise this point MPC have adopted the company heading ‘Marketing, Management and Economic Consultants’.
Economic Assessment in the Retail and Leisure industries covers Location Studies, Site evaluation, Driving Time Analyses, Defining Catchment Areas, Critical mass, Car Parking, Public Transportation, Market Penetration, Market Saturation, Market Evaluation, Per Capita Spend, attendance peaks, Size of Store or Attraction, Length of Stay, Infrastructure Improvements, Profit and Loss assessments and ROI to name a few.
Apart from recognised profitable areas such as Retailing and Leisure, Economic Assessment also plays a large part in increasing earned income for non profit attractions such as Museums, Art Exhibitions, Zoos, Aquaria,
sporting events, Schools, Armed Forces Centres and Hospitals thereby improving the entertainment and educational qualities whilst at the same time providing the public with better facilities.
(Back to home page)
|
