Abstract
Even though leading experts in the field of marketing would agree that modern marketing is all about creating value (Doyle, 2000; Kotler, 2020; Kumar & Reinartz, 2016), many people (including some marketing practitioners) still think of marketing as simply advertising or promotion (or some combination of both). This discrepancy reflects the inconvenient truth that many managers still operate their businesses in a silo-centric approach, with each function honing in on increasing its productivity via various measures (Weinstein, 2020). In this day and age when ‘a new and wholesome way of producing and consuming goods and services’ is of material importance (Wakhlu, 2020), such thinking hinders opportunities for growth and expansion because of unprecedented competition and increasing customer demand (Aaker, 2008). But to be fair, this mindset might not be due to managers misunderstanding the importance of creating value, given the abundance of discussion and empirical works carried out on this topic; it is more likely the case that many marketers are still struggling with the daunting task of ferreting out ‘how to’ (Davis, 1995; Keller, 2003). Obviously, a change in business mindset (and consequently strategic operations) is not easily accomplished and, therefore, warrants both agitation and rumination. The abundance of books related to this topic may ironically do little to help as many (if not most) discuss value from a highly conceptual and abstract perspective before switching to a fleeting discussion about broadly philosophical (and still, very abstract) approaches to value creation. Lost in such a jungle of puzzling discourses, many managers understandably stick to their sacred ‘busines-as-usual’ axiom to avoid unnecessary additional headaches. Against this background, ‘Building Value through Marketing: A Step-by-Step Guide’ by Professor Philip Sugai comes as an ally for managers truly interested in value creation and who want to take actionable steps to revamp their businesses. Written in a concise, succinct manner with persuasive examples, the book offers not only enlightening perspectives on what value means but also a logical road map to building value that enables sustainable success. It is written in three sections, first establishing the basic mindset for value-focused marketing strategy in the first section, then introducing 12 building blocks for value creation that every marketing executive has at their disposal to adjust and implement in the second section and concludes with a step-by-step framework for creating value-focused marketing strategy in the third section. As the culmination of the author’s years of working and doing research in the field of marketing, the book is unique in its practicality and relevance to managers. Seldom would you find a book that goes straight to the main points and yet leaves you ample room for contemplation—a highly desirable trait for a marketing book in the era of overwhelming media exposure and email bombardment. It is even more reassuring to see that the strategies and tools recommended in the book not only are grounded on established academic research, including Service-Dominant Logic (Vargo & Lusch, 2004), but also have been tested out in reality so that readers can derive a more well-rounded evaluation of how effective such recommendations would be. The author has clearly adopted a captivating writing style that effectively delivers the points without making the audience shy away from intimidating terminology or nerve-wracking formulas. As the cliché ‘you are what you read’ suggests, it is advisable to invest your valuable time wisely by making strategic moves in what you choose to read (or share with others). So if you are looking for a compelling, motivating book that can fuel ideas and actions, this book definitely deserves a space on your desk (not just your bookshelf).