OPINION: Last week the esteemed Harvard Business Review declared marketing "dead". Like rock and roll, radio and Oscar Wilde, I think that the reports are exaggerated - marketing is not dead, it just needs to grow up...
Chris Mays's insight:
This opinionated article refers to need for marketer's to use a more mature approach to communicating with customers now that customers have more knowledge and power at their fingertips due to the internet. The article looks at a company, Patagonia, that tries to communicate a more customer-oriented approach. Instead of screaming out to prospective buyers how good Patagonia and their products and prices are, they are putting themselves in the shoes of consumers and communicating benefits to consumers. This is in line with a TED talk I watched, presented by Simon Sinek. Sinek urges companies to "sell the WHY not the WHAT." Instead of Patagonia telling customers WHAT they are selling, they are connecting with consumers and telling them WHY they should buy their products. It is easy to tell consumers WHAT you are selling, but telling consumers WHY they should buy it and how it will benefit their life is a more mature form of marketing.
EBay is hunting for acquisitions to speed up its development of image recognition and augmented reality features as the online retailer and auctioneer seeks to capitalize on the potential of mobile phones to help consumers make impulse purchases...
Chris Mays's insight:
We, as consumers make purchase decisions based on a consumer decision making process. This article details how eBay, as a company is looking at new technology that will accelerate the "information search" part of the process, thus increasing impulse buys. eBay aims to close sales while consumers are in the mindset to buy by giving as much information as possible, such as quick and easy access to an item that a consumer has photographed on their smartphone. By giving consumers the idea that the product they're after is readily available and at a good price, this will, in eBay's case, hopefully increase impulse buys and close the sale while the customer is in the mindset that they want to buy the product.
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