There have been some far reaching changes in the world of marketing since the turn of this century. The first of them is that advertising has lost some of its credibility, due to which PR is now seen as more important. Examples abound of companies such as Google, Uber, Facebook, Snapchat and Twitter that have gained users through digital marketing rather than ad spend. The US president Donald Trump is another example where him being controversial led to him making more news thus greater PR eventually leading to him winning the election. A lot of companies such as Nokia make the mistake of putting its own name first into a category it wants to enter in. Apple on the other hand used to coin a separate name to its category rather than use its own brand name as it did with the Macintosh and I-Phone though it bombed when they launched the Apple Watch. Another noticeable change is that the name matters more than strategy as observed through the closure or brand erosion of Radio Shack, Eveready and Orville Redenbacher in comparison to innovative ones such as Duracell. Another change is that visual marketing is more powerful now than verbal as evidenced by Corona’s rise above Heineken for bottled beer in the USA thanks to their ads showing the attractive lemon on top. Companies such as GE and IBM that have tried to be in the market with single brands succeeded less than multi-brand conglomerates such as Apple, P&G, Unilever, Nestle and Coca-Cola.

Source:http://adage.com/article/al-ries/revolutionary-marketing-turn-century/308635/

Uploaded Date: 20th May 2017