THE OLD RULES OF MARKETING ARE DEAD : 6 New Rules to Reinvent Your Brand & Reignite Your BusinessTimothy Pearson
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How To Reinvent A Brand In Order To Revitalize A Business, Based On Six Strategic Principles
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★★ The New York Times Bestseller ★★
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In a post-Great Recession world of constant and unrelenting technology-driven change—change that has impacted so many around the world, not only in the developed countries and the emerging BRIC nations (Brazil, Russia, India, and China) but also the third world—one thing has remained firmly rooted and mired in the past: the way products and services are marketed and sold.
Besides, revolutionary new technologies developed over the past decade have completely changed the way humans communicate and transact business. Not exactly late-breaking news for most people of the world . . . except for those who are supposed to be marketing to them. While consumers, customers, and marketplaces have adapted to these new realities, most marketers have not.
Renowned marketing expert Tim Pearson explains why you need to sever your ties to the comfortable old ways of marketing―and bring your company’s marketing into the twenty-first century.
We are undoubtedly familiar with the old ways of marketing. We were taught them in undergraduate or graduate school, as an intern or first-year junior marketing or sales associate. Consequently, we have probably seen the old rules put into practice.
The old way of doing things can be summarized as:
(1) Budgets define strategy.
(2) A brand is just a brand.
(3) It’s all about the qualitative research.
(4) Advertising is the answer.
(5) Marketing results cannot be measured. And,
(6) Technology isn’t for everyone.
Too many marketers still operate as if strategy necessarily depends upon predetermined budgets; advertising is the catch-all to every problem; and marketing results can’t be measured. It all adds up to the age-old belief that marketing is an art, not a science―which couldn’t be further from the truth.
As a result of the rapid advancements in technology and the depth and breadth of information that is readily—if not instantaneously—to buyers, as well as available to marketers to power and propel profitable sales and increase revenues, marketing should have changed. But it hasn’t. It remains rooted in the not-too-distant past.
The new age of marketing in this new data-abundant, Internet-oriented world order requires more than a shallow or superficial understanding of the customer or consumer—and more than simply “getting on” the new technology. It requires understanding that the old ways of marketing are dead. The fundamentals have changed, as have the means and methods to define targets, to create more productive encounters that provide more opportunities to sell, to develop deeper and more significant insights, and to exploit singular points of difference. Arguing that the old rules of marketing are dead, Pearson presents the new ways of marketing through this process of reinvention
The Old Rules of Marketing Are Dead is a road map for breaking out of old, established―and increasingly ineffective―routines and reinventing your organization’s marketing by:
● Positioning marketing as a business partner―not as a tool for meeting a strategic objective
● Holding marketing accountable for results with the application of hard data― not vague qualitative measurements
● Providing leadership within your organization―not following the direction of everyone else
Reinvention begins at a brand’s core essence and is constructed from there. It is not change that is artificially created or imposed externally—nor is it change for its own sake. Rather, it is rooted in six overarching rules that encompass a new way of examining and scrutinizing marketing—and undertaking and optimizing revenue growth initiatives.
◆ Rule One: The Core Is Everything :
Reinvention begins with understanding just what a product or service is at its core. More often than not, lost in the new go-to-market processes, distribution channels and sales methodologies is the need to define the true core essence of the product or service that is being marketed.
◆ Rule Two: You Have Nothing Without the Foundation
Reinvention is not an art, nor is it a science—it’s both. Once the core essence of a brand, product, or service has been determined (that’s part of the art), it’s necessary to develop the foundation for creating and reinventing a brand’s unique points of differentiation, positioning, value proposition and architecture (that’s part of the science).
◆ Rule Three: There Are Many Choices but Only One Customer :
Reinvention does a product or service no good if it’s not effectively and efficiently conveyed and shared with the key audience—the potential buyer or acquirer of that product or service. In this new world of ever-propagating web sites and social networks it’s crucial to determine the all-encompassing plan for going to market and creating the metrics (and on-going continuous evaluation and refinement) to ensure or exceed a targeted return on investment.
◆ Rule Four: Do The Right Things for the Right Reasons :
Reinvention requires an understanding of the circumstance and context in which the product or service is taken to market. There are no shortcuts or easy fixes. There is a need to make sure there are no unexpected or unanticipated barriers or constraints. These could involve regulatory issues; reputational concerns; shifting customer, client, or prospect relationships, wants and desires; and new emerging technologies and competitors.
◆ Rule Five: Infrastructure Is More than Just Pipes :
Reinvention begins with a product or service, but it does not end there. It directly impacts and shapes the operating infrastructure that supports it. Today, as a product or service is taken to market, it becomes critically important to focus on the type of new technology-oriented support necessary for successful implementation. There must be a clear and undiluted understanding of the role marketing is to play in the company or enterprise and the creation of the right type of marketing organization—and utilization and exploitation of Internet-centric and business analytic-based tools.
◆ Rule Six: Lead and Others Will Follow :
Marketing must demonstrate leadership to make certain that reinvention is not only seen as contributing to the bottom line, but in fact does so successfully. Beyond that, it must continue to contribute time-and-time again over a long period with ever-increasing efficiency and effectiveness to drive profitable revenue growth.
From research frameworks and concept development to planning, budgeting, media placement, and program implementation, marketers have not kept up―to the detriment of themselves and their companies. Completely revamping old-school marketing is the only way to drive profitable sales, create growing brands, and increase market share in today’s post–Great Recession business landscape.
Pearson calls for nothing short of a marketing revolution. You must throw out almost everything you hold dear and embrace technology, a new role in business, and real accountability. The Old Rules of Marketing Are Dead has what you need to reinvent your products, your services―and your future.
About the Author :
Timothy R. Pearson was president and CEO of Zyman Group, a leading international management consulting firm serving the Global 1,000. He has also served as Vice Chair, Global Managing Partner, Marketing and Communications (and first Chief Marketing Officer) for KPMG, the global Big 4 accounting, tax, and consulting firm; and has been president of several advertising agencies.
He has served on the Advisory Board of the Nobel Peace Center, Oslo, Norway, and on the Harvard Business School’s Dean’s Research Society. Pearson has received numerous honors in the marketing arena, including but not limited to Advertising Age’s Best, The Wall Street Journal’s Best, and multiple Belding, Cable, Clio, Echo, Golden Phone, Lulu, Proto, PRSA, and Sunny awards.
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