Can anyone tell me if they’ve come across any new earth-shattering insight about marketing that hasn’t been discovered already?
Marketing is all about new ideas
The impression of marketing given in social media is that it is a profession that is forever in a state of flux and that if you don’t keep up with change you are doomed to failure.Well there’s an old trick for a start! Fear sells – terrify your prospect that their future career or business is in jeopardy if they don’t take on your ideas.The principles of marketing are enduring and are unlikely to change. This is because they combine into a particular managerial world view. What Thomas Kuhn called a Paradigm.
Marketing is all about old ideas
Now the thing about paradigms is they create acolytes. Acolytes are people who are introduced to the mantras and creed of a world view and fall in love with the paradigm because it makes sense of the world in a way that was hidden to them before. The paradigm is so helpful that the acolytes then evangelise about it (tell every and anybody that it is ‘the way’ and the only way and all other ways are wrong.
People new to marketing are initiated into the rites of the marketing profession, its principles methods and language. Many of these people are at the early stage of their commercial career others may come to marketing mid-career whilst studying an MBA or similar.
Seasoned business professionals are rarely taught anything fundamentally new about marketing – they actually know it all and practice it’s principles instinctively.
Of course other paradigms come along to replace prevailing ones but only when a completely new way of seeing things is put forward. Views such as Service Dominant Logic might be classed as one and the ideas published in the area of Critical Marketing. Everything else I read about concerning everyday marketing management and problem solving sits within the conventional marketing paradigm.
So whilst I read a lot about new techniques such as the application of social media in marketing activities, and trends such as the importance of story telling for brands, because I’ve been around a while I don’t actually see anything truly new in terms of everyday marketing management thinking. Let’s check a few of the marketing stalwarts out.
Marketing’s old ideas
- Customers buy benefits not features
- There is a difference between need and want
- Brands are a promise of value
- Customer segmentation and targeting is an effective use of scarce resources
- Make the marketing mix relevant to the target customer
- Firms need meaningful differentiation to compete
- Customer centricity should be your focus
- Keep an eye on your competitors
- Plan what you by following the structure; where are we? where do we want to be? set out how to get there, and measure your effectiveness
- Don’t give profit away
- Have a dialogue with your customers
- Changing the logo is not changing the brand
- Some customer aren’t worth doing business with
Have I got this wrong? Are there any new principles you would teach new dogs?