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Railroad Marketing Analysis and Synthesis RSMA Soft Cover 1966 Railway Systems
Railroad Marketing Analysis and Synthesis RSMA Soft Cover 1966 Railway Systems and Management Association Approx 115 pages
It's a real privilege for me to be with you this morning. It's been delightful to renew a lot of old friendships, and I have looked forward with a great deal of anticipation to this program. And those of you who know me, know why. Railroad marketing has been a specially vital concern and activity of mine for some time.
I would like to congratulate R.S.M.A. for its role in recognizing the importance of the subject you are here to discuss, as it was really through your predecessor organization, the Railroad Systems and Procedures Association, that marketing in the railroad industry got its first big boost in 1958. It took a few years to develop some of the theories advanced at that first meeting and although an improved economy and many other things may be credited with the progress made in the industry during the last few years, I personally believe the marketing programs set up by many railroads had most to do with their resurgence.
We should feel mighty fortunate at having so many outstanding speakers during these two days . . . to give us the benefit of their specialized knowledge and keen insight. Today, charting a course is so complex, the cost of failure so high, the competition so keen, and the world changing so explosively fast .. that the comments of our distinguished speakers should be of immense value to everyone here.
As I said a moment ago, the railroads have made real, significant progress in recent years and we have all been proud of this progress, much of which has been brought about through our new marketing concepts. Just about the time some people were calling for the embalmers-wagging their heads about the "good old days of the old Iron Horse"-the industry suddenly began to move with a new vitality. And while many consider "marketing" as a sort of magic, we cannot overlook the things that make up this magic formula-people, equipment and profits-because, if taken seriously, marketing must involve the whole organization of any company. But to make marketing work, that organization must keep itself informed on all matters that affect the eventual success of a company-operations, equipment, finance, legislation, and the many other things that may affect the company's ability to serve its present customers, gain new customers and earn profits.
Let's talk about profits for a moment. Now, in some quarters, that word has become synonymous with sin. Yet we know profits are absolutely essential-not only to provide a return to shareholders who invest in the business-but to pay for such things as research and development, to buy new and better equipment, to upgrade existing facilities, to provide new services. The rails are not philanthropic organizations. Our profits must grow if the rail companies are to grow. And while progress has been made, we have, as a group, quite a way to go yet.
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