There are many similarities between managing marketing and managing innovation in our fast paced, information based society. Marketers will need to revise their assumptions regarding how people interact with advertising just like managers will need to revise their assumptions regarding how customers adopt innovations.
Male, 22 years old, dark haired. If I turn on the television or the radio, which combined account for the vast majority of ad spending, sooner or later I will come across the advertising of a disposable tampon, a denture adhesive and a shampoo for curly red hair.
Have you ever been annoyed by the subscription cards that fall out of magazines? I guess most people have, they not only interrupt the reading experience but also force you to make an extra run to the trash bin. Incredibly, though, such cards still generate around 12% of magazine’s new subscriptions, no wonder editors stick them wherever they can.
I do agree with the author to a certain extent, mainly with the idea that under some circumstances only companies are able to develop radical innovations. But that has to do with the fact that consumers often times are not able to articulate their needs, and they are not necessarily aware of what one could possibly do with current technologies.
The information age is changing most activities in our society, and marketing is no exception. Internet and new media are creating different ways for people to communicate, work and live. The question then becomes: how can marketers revise their strategy to embrace those innovations? Below I provide the top 5 marketing trends under the information age: