I had the pleasure of taking a group of marketing researchers to this event for the first time. I had no idea what to expect. The speakers, for the most part, had a very clear purpose that they were here to share and they did. I was even more impressed with the people working in this field. Their knowledge, passion, and ability to articulate what they want to achieve is a testament to them.
Wharton is an acronym for the Wharton School of the University of Pennsylvania and it stands for the Wharton School of Business. The school was formed in 1883 to teach and research business. And the school has an interesting history. The school started out as a business school, but it became more of a research institute, and more like an academic department. The school’s founders were John Wharton, Jr. and William Wharton.
I attended the Wharton School while growing up. My first year, I took a semester abroad. This was also around the time the Wharton School was getting its start. And I met my future wife, who was from Wharton.
The school has a long-standing faculty that has studied business and business management. But it also has a long list of academic faculty that have become prominent. Take, for example, Dean Stephen Klyz, author of the book “The Rise of the Creative Class,” and Professor of Business and Entrepreneurial Studies at Stanford University. The Wharton School is a top-tier study in business and management.
Klyz’s book has been quite controversial, but what is also disturbing about his opinion is the fact that he believes that people who work in a creative work environment, have a greater advantage over people who don’t. He went on to say, “Creativity is very good at attracting the best people to work for it.” That’s not exactly something I would agree with, but I think it is somewhat the truth.
I think Wharton is more of a marketing school than anything else. It does not really focus on how a company or a person is going to make money by doing marketing. Its more about what can be done to help a company be more effective and efficient.
In Wharton’s view, to be effective a marketing person has to be proactive, not reactive. That means that a good marketing person has to be able to take the time to understand what their customers want and how to satisfy them. When you can’t do this, then you’re left with the “reaction” stage where they just react to what you want them to do.
At the same time, a marketing person can also be reactive. They may know what their customers like and if they can get the product into their hands or what their customer wants, but they don’t know how to satisfy them. Wharton Marketing has the perfect formula of knowing what the customer wants and doing it! We’ve seen this formula at work on a number of occasions and it’s a great formula for a marketing person to use.
Wharton Marketing does this by having the same customer satisfaction criteria that a customer service person should be using. The customer satisfaction is based on the customer and the Marketing Company can work with the Marketing Company to help the Marketing Company satisfy the customer and thus help achieve their Customer Satisfaction Goal.