For those that didn’t study Latin or law, caveat emptor quite simply means “buyer beware”.
David Reibstein, the William Stewart Woodside Professor, Professor of Marketing at Wharton Business School and author of “Marketing Metrics: 50+ Measures Every Manager Should Master” says that marketers chase growth, but few get very specific about what type of growth.
In David’s mind, it has to be profitable growth. Organizations chase revenue with an expectation that it will turn to profit. But the markets will only reward them if they believe they have a vision for how that will happen.
Some may do it by acquiring other companies. Others will focus on organic growth. But if you are a CMO (Chief Marketing Officer) and want to survive longer than the typical 2 year stint, your focus needs to switch to understanding Customer Life Time Value.
Check out what David had to say on:
- Revenue versus Profit
- Impact of influence on Customer Life Time Value
- His thoughts on loss leaders and coupons as part of your marketing strategy
Want to learn more?
Visit the driving profitable growth site on our Customer Intelligence Knowledge Exchange.
