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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
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
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
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
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