Marketing has a much better and higher standing today in corporate boardrooms than in earlier times. Initially marketing was seen as mainly an advertising function or more broadly as a communications function. Then marketing opened companies’ eyes to seeing the consumer as the center of the profit-making universe. Marketing provided the means of getting deeper insights about buyer motivations, beliefs, values and perceptions. Today the marketing function is in the hands of Chief Marketing Officers who manage broader functions, including the responsibility of identifying new market opportunities and assessing their size and feasibility. There are still companies that take a narrow communications view of marketing but they are often outperformed by competitors who take a broader view of the power of contemporary marketing thinking and planning.
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