Mar-keting
Rob Walker in his latest book "Buying In" announces the death of advertising( or almost) and that "murketing" is in.He describes murketing as murky-marketing where companies are walking that extra mile to make consumers design their own experiences with the companies' products and define the meanings they want to derive from using it.
In one sense, Rob is not saying anything new,except that his book is full of stories and narrations that are a hallmark of a good business journalist(which he surely is).
For several decades now, post-modernism has tried to say something similar( read First,Venkatesh,Dholakia and others).Post-modernism says that mass marketing is dead(therefore advertising effectiveness has not only reduced but the control over it has transferred from companies to consumers).Rob also talks about the post-TiVo effect on companies,and how murketing is so essential to lure consumers since the ads on the TV can be TiVoed away.
Post modernism also talks about defragmented media,hyper-reality replacing reality( why else do you thing the reality shows are getting popular TRP ratings?),use of technology,& deconstruction and reconstruction of meaning by consumers.
So today we don't have passive consumers watching an interesting ad on the TV,rather we have consumers who would like product placement on their favorite movie,which they go and watch with their families in the multiplexes.Consumers want more participation in co-creating experience surrounding the product.So experience is in,Ads are out.Service is in,product is out.Perceived quality is in,Technical quality is out.Hyper-reality is in,reality is out.Game and reality shows are in,soaps are out.Second Life is in,First life is out.Email is in,snail mail is out.Hyperlink is in,all other links are out.Social networking websites are in,social gatherings are out.Value is in,price or cost is out.Possessing is in,Becoming is out.One-to-One marketing is in,Mass marketing is out.Word of consumer is in,Word of advertiser is out(so in word of mouth publicity,who's mouth it is makes all the difference).I am in,You are out!!!
In one sense, Rob is not saying anything new,except that his book is full of stories and narrations that are a hallmark of a good business journalist(which he surely is).
For several decades now, post-modernism has tried to say something similar( read First,Venkatesh,Dholakia and others).Post-modernism says that mass marketing is dead(therefore advertising effectiveness has not only reduced but the control over it has transferred from companies to consumers).Rob also talks about the post-TiVo effect on companies,and how murketing is so essential to lure consumers since the ads on the TV can be TiVoed away.
Post modernism also talks about defragmented media,hyper-reality replacing reality( why else do you thing the reality shows are getting popular TRP ratings?),use of technology,& deconstruction and reconstruction of meaning by consumers.
So today we don't have passive consumers watching an interesting ad on the TV,rather we have consumers who would like product placement on their favorite movie,which they go and watch with their families in the multiplexes.Consumers want more participation in co-creating experience surrounding the product.So experience is in,Ads are out.Service is in,product is out.Perceived quality is in,Technical quality is out.Hyper-reality is in,reality is out.Game and reality shows are in,soaps are out.Second Life is in,First life is out.Email is in,snail mail is out.Hyperlink is in,all other links are out.Social networking websites are in,social gatherings are out.Value is in,price or cost is out.Possessing is in,Becoming is out.One-to-One marketing is in,Mass marketing is out.Word of consumer is in,Word of advertiser is out(so in word of mouth publicity,who's mouth it is makes all the difference).I am in,You are out!!!
posted by Prof Ramendra Singh | 9:48 AM
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