Insights With Trent Munday

Anyone who's ever managed the P&L of a business or a department would be familiar with the line item under Expenses for Marketing. Unfortunately, many businesses use this for just part of the marketing puzzle. Usually, for expenses related to advertising, promotions & sales. But Marketing is much more than that. Marketing is about creating products and services to meet the wants and needs of a consumer. Tom Goodwin recently suggested that if we treated Marketing not as an Expense but as an Investment, maybe it would be taken more seriously. I'm not sure if that would even be allowed under the accepted Accounting Standards (Does anybody know?) But regardless, if companies just made the shift in mindset internally, it might work just the same. I like it! What do you think? #marketing #investment #businessstrategy