Marketing
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There is a considerable amount of marketing money wasted each year because of ready, fire, aim. That’s marketing without first establishing a clear brand identity and personality. Even worse, some companies struggle along hoping marketing or advertising will define their brand. Marketing, advertising and other communications activities should clearly convey and enhance the brand identity and personality, but it is usually an ineffectual, expensive and backward process to let marketing try to create the brand.
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Here are a couple of interesting presentations on SlideShare that provide thoughtful discussions on what is happening next in marketing, advertising and media. Part I is from Paul Isakson:
View on SlideShare (up to full screen).
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While the tools of the marketing trade are changing rapidly, being able to understand the points of view of large major markets is still eminently useful to business professionals. A new book by Kenneth Gronbach titled, The Age Curve: How to Profit from the Demographic Storm, points out major generational markets (as well as other demographic groups), and offers advice on how best to reach each group.
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Consumers, start your cell phones! Mobile banking services in the U.S. appear to be poised to triple by 2009 (Aite report), or to double by 2010 (Sybase report). Despite research finding differences, one thing is clear: U.S. banks are ramping up efforts to make consumers aware of mobile banking, consumer clearly want the service, and that means bank marketers are ready to put technology and marketing dollars behind it to get you the consumer to adopt it.
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Because the purpose of business is to create a customer, the business enterprise has two – and only two – basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.
– Peter Drucker
The quote above is from Peter Drucker’s book, Innovation and Entrepreneurship. The book was first published in the 1980s, and it was re-released a couple of years ago. It is still sound advice. If you want to improve business, marketing and innovation had better lead the way. Considered by many as the preeminent business consultant and author for decades, Drucker is the person who coined the term knowledge worker.
Considerable effort should be spent on measuring the success (or failure) of marketing and innovation. Why? Another famous Drucker quote answers that question: “What’s measured improves.”
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