With nearly two decades of advertising and brand building experience, Matt Stefl is an industry veteran. Prior to joining LMU as clinical professor of marketing and co-director of the M-School in 2014, Matt served as executive vice president and director of strategic planning at LA-based Dailey Advertising. He talks about the current state of marketing and what business leaders need to know to stay relevant.
Describe your role at LMU including your EMBA role.
I am a clinical professor of marketing and co-director of the M-School. In fall 2017, I taught seminars on “Personal Brand Management” and “Brand Planning.” In the EMBA program, I co-teach a course called “Marketing Management” with Sijun Wang. Technology, globalization and social responsibility have dramatically changed the marketplace and provided both consumers and companies with an increased need for a compelling marketing strategy. The goal of this course is to help students understand how marketing translates the goals of the business into strategies and activities that create a sustainable competitive advantage.
How is marketing an enabler for students’ careers in today’s environment?
Marketing is all about creating value by identifying and satisfying consumer needs, removing pain points and telling memorable stories that stand out and stand for something. Students can apply marketing principles to almost ANYTHING when it comes to changing perceptions and driving behavior – from selling a product to negotiating a raise to rallying support for an idea.
Why is marketing acumen important for business leaders to have?
Business has shifted beyond product and profit to people and purpose. Companies that inspire people and make a positive impact on the world have an advantage in today’s marketplace. If a business doesn’t have an ethics and corporate social responsibility platform in place, it will get left behind.
What challenges, opportunities or trends do you see in marketing?
Marketing, like many industries, is changing at break neck speed – from how people shop to how they consume media to how they think about brands. Along with each challenge comes opportunity. This is such an exciting time to be in marketing – to be able to work in today’s age of purpose-based brands, artificial-intelligence, big data, internet of things, etc. makes for a fun and rewarding career.