Monthly Archives: September 2013

Marketing: Step 1 – Two Imperatives

Does the product concept precede the market, or does the market determine the product? In my experience it is a bit like a carousel, you can get on the ride almost anywhere along the cycle. Wherever that may be, unless you are Steve Jobs, it is wise to take some risk out of the equation … Read More

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Defining “Marketing”

There are important differences between the common dictionary definitions and BIG IDEA’s. Wikipedia:  Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling the product or service. It is a critical business function for attracting customers. Apple Dictionary:  Marketing the action or business of promoting … Read More

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Marketing and “The Pareto Principle”

Vilfredo Pareto was an Italian economist who observed that in most cases roughly 80% of the effects are the result of 20% of the causes, thus its better known synonyms the 80-20 Rule or the Law of the Vital Few. Pareto is a another member of my Marketing Pantheon, along with Benoit Mandelbrot (see “What … Read More

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A Silk Purse from a Sow’s Ear

Pre-internet, companies in need of short-term help to fill mostly clerical positions relied on specialized “Temp” employment agencies. This was a highly competitive business at the time with a lucrative commission structure, especially in the New York market, where huge banks, insurance and brokerage companies had a continual need for temp workers. Nevertheless, corporate HR … Read More

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What A Mathematician Can Teach Us About Marketing

In his The Fractal Geometry of Nature Benoit Mandelbrot said: “Clouds are not spheres, mountains are not cones, coastlines are not circles, and bark is not smooth, nor does lightening travel in a straight line.” Applying Mandelbrot’s observations to marketing cautions us that markets are not uniform. They may appear so when viewed from afar; … Read More

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Procter & Gamble Basic Training

I was very fortunate to begin my career at one of best on-the-job training agencies in the advertising business, Benton & Bowles. At the time B&B was the sixth largest ad agency in America, which in 1961 meant in the world. But what made it an especially good place to learn was it was Procter … Read More

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