Been a busy personal week with the holidays... All is well and we're back with Insight on Business a look at news and information revolving around advertising, marketing and consumer trends. Why? To help you and your business grow. Here is what we've got on tap today:
It's a brand new economy says The Economist- No longer is America the "debt" and "consumption" center of the world. The recession has changed to rules and we are becoming a "saving" and "exporting" nation. Why should you care? Because as everything changes you need to know how to adjust to market your product or service to this new model. In this special report from The Economist you'll gain some valuable clues.
Any other day I would have passed on this New York Times Business story but, because I'll be staying at an InterContinental Hotel in Kansas City this week, and have the opportunity to share information with you, I'll pass it along. It's a short interview with Andrew Cosslett the CEO of InterContinental Hotel Group on his management style and what he hopes it brings to his company. I particularly enjoyed the story of his first sales job...selling ice cream that nobody wanted. A quick, good read written by Adam Bryant. And, as always, a nugget of information for your business if you pay attention.
Do you simply want "feed-back" or do you want to build what consumers really want? It's a serious question. For the most part manufacturers get an idea that they then run past a focus group to get "feed-back". Might that be the wrong way to go? Here is a story about "Co-Creation" and having consumers share with manufacturers what they want rather than just offer "feed-back". It's from our friends at BusinessWeek.
That story underscores the value of engaging "outside help" in marketing and advertising. Far too often the "in-house" folks have tunnel vision when it comes to their own products and services. Help from a reputable advertising and marketing company can pay off huge...if you'll listen.
Marketers seem willing to play ball with Major League Baseball. Marketing dollars going toward the advertising support of baseball have grown by three to four times over previous spends. Here is the story from MediaWeek. Our take-a-way from this is "tradition". Marketers and advertisers are betting that as slow as baseball is...there is comfort in image of the "American Pastime". It's not "new" it's not "flashy" but it is "solid" and we "know the rules". That little hint is something you should consider when building your media plan. What traditions can you call on to help sell your product or service? What do you think?
Gotta wrap this up and get it out the door. Thanks for staying with us. New and better things on the horizon for our return to the air-waves...or "computer-waves". As soon as I can...you will be the first to know!
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