Three Words to Eliminate from the Procurement Vocabulary

According to MerriamWebster quotcommodityquot is defined asA good or service whose wide availability typically leads to smaller profit margins and diminishes the importance of factors such as brand name other than priceOne that is subject to ready exchange or exploitation within a marketMarketing is absolutely not a commodityamp160 Marketing builds brand awareness differentiates a product from its competition creates loyalty and develops longterm relationships with the customer amp160Marketing and marketing procurement is about driving value rather than solely reducing costsamp160 Strong marketing can drive exponential business growthamp160 Marketing is absolutely not quotsubject to ready exchangequotamp160 Different marketing approaches will produce different resultsamp160 Marketing is a quotdifferentiatorquotMerriamWebster defines quotvendorquot asOne that vends ie to sell especially as a hawker or peddlerYikesamp160 In my twentyyear agency career I was called a vendor exactly onceamp160 It was demeaning and insultingamp160 I responded back by saying that a vendor sells hot dogs at the ballpark and instead the agency was a marketing partner to the clientAlso from MerriamWebster a quotsupplierquot isOne that provides the quantity or amount as of a quotcommodityquot needed or availableThis word isn39t quite as negative as quotvendorquot but it still stings a bit as it implies the product or service being provided is a quotcommodityquotamp160 In a limited number of cases it can be applied to marketing eg the purchase of paper for instore signageamp160 But marketing procurement would be better off also eliminating or severely restricting the use of the word altogetherInstead let39s consider words like quotpartnerquot and quotalliancequotA quotpartnerquot is one associated with another especially in an actionAn quotalliancequotamp160is an association to further the common interests of the membersMarketing procurement should consider the above perspective in their actions as well as how they are presented on their respective business cards ie their job titlesamp160 Who would you rather work withamp160the quotDirector of Vendor Managementquot or the quotDirector of Media andamp160Agency Partnershipsquotamp160amp160The quotCommodity Managerquot or the quotAlliances ManagerquotWords matter amp160The ANA Advertising Financial Management Conference April 28May 1 in Phoenix is the industry39s largest gathering for marketing procurement and agency financeamp160 Let39s continue this discussion thereClick the social buttons above or below to share this story with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillagecomMyersBizNet Inc management or associated writersamp160

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Three Words to Eliminate from the Procurement Vocabulary

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Bill Duggan

"About That" with Carl Mayer: Corinne Casagrande (Episode 8: Consumer Spending) - By Carl Mayer

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Three Words to Eliminate from the Procurement Vocabulary

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Bill Duggan

"About That" with Carl Mayer: Corinne Casagrande (Episode 8: Consumer Spending) - By Carl Mayer

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