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June 10, 2006

Closing Remarks: The Changing Face of Marketing

From closing remarks by Columbia's Berndt Schmitt at the 2006 Corante Innovative Marketing Conference:

Here's what *hasn't* changed about marketing: We still need to develop products, we stll need strategy, we still need branding

What *has* changed is the way we implement marketing -- the 4 P's -- and the way we run our marketing organizations.

There's been both revolutionary and evolutionary change....technology has created a revolution and allowed the consumer to have more control over your brand....but after that revolution, the change [that marketers take to adjust to the new landscape] is evolutionary.

Interaction and conversations have not been represented in traditional marketing. But the question for marketing remains -- what value does the consumer ultimately get out of those interactions and conversations?

I don't recall him saying this, but the reason that's important is that a company can only recognize value for itself if it's able to create value for its customers.

Posted by Renee Hopkins Callahan at June 10, 2006 9:25 AM | Category: marketing blogjam | 28 Comments

28 COMMENTS

Posted by: Reynold at June 11, 2006 12:55 AM

Hi,

Is there really a new thought here? A debate about interactions, conversations and co-creation has been on in the marketing field for some time now. It would have been useful to see a framework for taking decisions or a sharp point of view with supporting evidence.

Reynold

Posted by: mahendrakumardash at June 11, 2006 10:21 AM

With increase in consumer power,the old trend of marketing is giving way to quality.One is tired of marketing.

Posted by: mark s at June 11, 2006 11:27 AM

yeah, he kinda stated the obvious. that said, the fact is the consumer has always had the power (i.e. the money). unfortunately, this fact has been "misplaced" for too long. quality is subjective - if not based on how one assigns value to a particular product/service - and typically a matter of perception. marketing job remains the same: to influence that perception. what is changing is that more and more the consumer is dictating where, when and how they receive those messages. if at all. the days of taking the consumer for granted are gone.

Posted by: Shallen Paul at June 12, 2006 3:02 AM

Obviously that is like the overall "new economy" thing, economy and business did not really change with new technologies, it just evolved in a way that we run the economy aand businesses differently...

Posted by: Jay at June 12, 2006 6:39 AM

I've taught for years from my mantra: "People buy benefits...use products... talk brand." Nothing much changes from that except how we communicate the benefit the consumer wants, needs and is seeking. Anything else is transparent hype.

Posted by: Micah at June 12, 2006 11:02 AM

I don't mean to be critical of the posting--I appreciate the opportunity to respond. I'm constantly surprised at how the heads of media companies and marketing gurus make news by stating the obvious. Saying that customers are looking for products and companies that "create value" for them is like listening to Stephen R. Covey say that we are living in a "knowledge worker economy." Not is it obvious--and has been obvious for a long time--but it's not helpful.

If you want to create value for me, let me know what you are doing to create value for your customers-new ideas, not new commentary on old ideas.

Posted by: Grafick at June 14, 2006 9:06 AM

Yeah, we're not treading new ground here with any of these ideas. Simply put, the consumer has more informational capital now than ever before, and because of this they're not so reliant on marketing campaigns that might have "wooed" them in the past. They don't need a company to tell them how good their own product is, they'll go online and let other consumers make that distinction. Micah is right, what the consumer wants to know is how your brand is innovative, not how pretty and shiny it is.

Posted by: Mark Alan Effinger at June 15, 2006 1:32 PM

In regards to social dialogue in marketing, I just caught wind of a very interesting/cool experiment by PRWeb:

They announced today that the first user to identify and blog about the handful of new features the company has implemented on their site over the last week, and use their blog trackback feature to connect to the press release, will win $1,000, and some noteriety.

Now, my question is: Will this inspire social dialogue, investigation and enhance PRWeb's marketing position? Or is this just a one-time hit?

I firmly believe blogs and social dialogue are the future of media and marketing (OK, there actually CURRENT!)... but I'd be interested to know if this approach, and trackbacks, encouraging investigation through promotional monies... does this work?

You can view the press release here: PRWeb Wants to Talk.

Best,
Mark Alan Effinger
RichContent.com

Posted by: lol at February 5, 2008 7:22 PM