George Day: Market Driven Strategies, “Where to Play and How to Win.” Podcast Por arte de portada

George Day: Market Driven Strategies, “Where to Play and How to Win.”

George Day: Market Driven Strategies, “Where to Play and How to Win.”

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 A History of Marketing / Episode 12“My philosophy about the marketing function is that it's the interface between the organization and its markets.” - George DayThis week, we’re joined by Professor George Day, a renowned author, educator, and researcher. Day is the Geoffrey T. Boise Emeritus Professor at the Wharton School of the University of Pennsylvania, where he founded the Mack Institute for Innovation Management. Day co-authored Marketing Research with David Aaker and V. Kumar, who were previous podcast guests. However, Day perhaps best known for his work on strategy. We spend most of this interview on his 1990 book, Market Driven Strategy: Processes for Creating Value. Listen to the podcast: Spotify / Apple Podcasts / YouTube PodcastsMarket Driven Strategy was a breakthrough because it shifted the focus from a company’s internal capabilities towards an outside-in, customer-centric approach. While newer strategic frameworks have emerged, you can trace many of them back to the ideas popularized by Day in this book.Now here’s my conversation with Professor George Day.Foundational Work in "Market Development"Andrew Mitrak: George, thanks so much for joining us.George Day: I'm delighted to be able to share my story and reflect on the history of marketing strategy—or what I would call strategy from a marketing perspective.Andrew Mitrak: Sounds great. Well, let's start with the early days of your story. You started as a mechanical engineer at the University of British Columbia. And in less than a decade, you were teaching MBA students at Stanford's Graduate School of Business about marketing. So how did you go from engineering to marketing?George Day: It began when I started as a junior engineer in a chemical plant, as an operating engineer. I decided that was arduous and painful, so I talked my way into the Market Development Group. I joined the Market Development Group as part of the R&D Group. They were trying to find applications for the products they were developing. We had a lot of capacity to produce hundreds of products, so my job was to find markets for them.Andrew Mitrak: A product in search of a market. That sounds like a fun, challenging line of work.George Day: I transferred to headquarters, and the day I arrived, they fired my boss. So there was a two-person Market Development Group, and I was the lead person. I had to learn a lot very fast.Talk about the blind leading the halt. I was thrust into an environment and a job which I really didn't understand, was certainly not prepared for. Because with an engineering degree, I was focused and rigorous.I think a lot of my perspectives came from the questions I asked and the inability of the senior executives of the chemical company to answer them. I decided then, to understand better the situation I was in, I'd get an MBA, and that was a really transformative experience.Andrew Mitrak: Were there any professors or mentors during that time that shaped your early views of marketing?Early Influences: David Leighton and John HowardGeorge Day: Yes, I encountered an enormously influential figure in my life, who I consider a mentor: David Leighton, who subsequently became chair of the American Marketing Association. To illustrate his capacity, he also was asked to be brought in to run the Canadian Winter Olympics, and then became the chairman and managing director of the Canadian government library, symphony, and museum.So Dave influenced me and encouraged me to go on and get a doctorate. That's when I went to Columbia. I had a Ford Foundation fellowship that I could use to pretty much talk my way into most schools. I went around and interviewed three or four schools and selected Columbia, largely because of John Howard, who was a rigorous, leading-edge scholar. He had an enormous influence on Jagdish Sheth and also on me.Andrew Mitrak: I talked to Jagdish Sheth a few weeks ago, and he spoke about his collaboration with John Howard on developing the theory of buyer behavior. What was your relationship with John Howard, and did you have a chance to collaborate with him on any of your research works?George Day: Jagdish at that time was a research assistant or associate of John Howard's, had gone to work with him, and I came in as a doctoral student into the doctoral program. It happened that I worked very closely with him and ran a big research project which we called the buyer behavior project. It was a major research collaboration with the General Foods company.So I spent a lot of time on that, and that's where I learned a lot of my research skills.The Analytical Edge: Engineering Meets MarketingAndrew Mitrak: And did you find that having this engineering background gave you a unique perspective on marketing? Were you sort of an odd person out with an engineering background, or was that more common?George Day: I think the engineering background certainly helped me because in the PhD program at that time at Columbia, there was a real ...
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