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© 2009 The 60 Second Marketer
Transcript:
Marketing Case Studies
The Evolution of the Marketing Function by Dr. Reshma Shah, Professor of Marketing at the Goizueta Business School at Emory University.
From the 1950s to the 1970s, many corporations were primarily focused on operational concerns such as manufacturing and logistics.
Marketing strategy and creative execution were the forte of advertising agencies, the most powerful of which were located on Madison Avenue.
By the 1980s, corporations brought marketing strategy in-house, where teams of MBAs used data analytics to drive decisions about the brand.
By the 1990s, retailers intensified the use of end-user information in order to respond quickly to the needs and desires of the consumer.
But the biggest revolution in marketing is happening today where the customer essentially controls the reputation and image of the brand.
After years of being marketed to, consumers are now marketing with the brand, participating in the conversation, creating a more robust and fluid marketing environment.
The ramifications of this marketing revolution are still being played out, but one thing is certain – competitors who have embraced today’s new marketing revolution will soon leave behind businesses that are relying on traditional methods of marketing.
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