Tuesday, February 24, 2015

Marketing Challenges: Updated

What's changing in marketing?

I stumbled upon a piece in McKinsey's insights section entitled "The Changing Face of Marketing". The author outlines six factors impacting marketing.

  1. Customer - "the end users of almost every company’s products are shifting in makeup, location, and number at an ever-increasing rate."
  2. Insights - "If knowledge about future customers is essential, and if the quality of the marketing output is materially affected by the caliber of the informational input" then we need more.
  3. Technology - "the computerization of many areas of marketing is only a matter of time"
  4. Testing - "more controlled experimentation to narrow the odds of an error in making marketing changes"
  5. Sales as marketing - [the] "job is becoming less and less the presentation of the company’s product line, more and more the marketing of integrated systems."
  6. Global - the problem is "determining how to provide most efficiently the marketing services needed—services that in many companies today are directed, if not executed outright, by a central corporate staff."
This summarizes what we often see in the marketing services world everyday.

It seems that the only thing new is history we haven't learned yet. The article was written in 1966. 

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