Marketing Innovation in Times of Change: Deconstruction and Rebuilding

The globally renowned expert in marketing, one of the founders of the integrated marketing communications theory, Prof. Robert F. Lauterborn met with over 200 Chinese marketing elites and discussed the new models and new ideas of marketing management on the 2014 Global Marketing Leaders Beijing Forum on March 22nd. This forum was hosted by Associate Professor Qu Riliang from Department of Marketing, aiming to help Chinese businesses enhance marketing metrics and build first-rate brands.

RBS Dean Mao Jiye firstly introduced the major achievements RBS has made during the past few years, including attaining EQUIS and AACSB accreditations, co-founding the Global Network for Advanced Management with Yale School of Management, and ranking No. 1 in the recent business administration discipline assessment conducted by the Chinese Ministry of Education and expressed wishes to foster long-term cooperative ties with top Chinese businesses.

Prof. Lauterborn kicked off the forum by reviewing old-fashioned marketing concepts. "In the 1960s, 4P was a pretty smart concept, but those days are gone. Market control has been transferred from marketers to customers," he said. He stressed that the 4C model has been replaced by 4P model, the mindset has shifted from "outward-focused" to "inward-focused", and the only way to sustain competitive advantages is to better understand your clients and therefore more effectively manage the profitable customers. 4C is a customer-oriented concept that lays more emphasis upon satisfying the consumer needs for cost, convenience and communication, amongst which communication represents a broader sense including functional, emotional and self-expressive value dimensions. Prof. Lauterborn also used a lot of examples to substanti