A common phrase used today in marketing circles is “sustainable competitive advantage” (often abbreviated as SCA). Michael Porter, lauded Professor of Harvard University, coined the term in the eighties and it lives on as an iconic business term. In fact, it has become a cliche, since its usage often is mangled and misapplied. SCA is…
DetailsThe “4 Ps” are the cornerstone of modern “marketing mix”: Price, Promotion, Place, and Product. They were first defined by author E. Jerome McCarthy in the 1950s and they are marketing gospel today: product, place, price, and promotion. • Product is the goods, services, or solutions that the provider delivers. This is really the end…
DetailsMarketers occasionally make stupid mistakes when innocently trying to deliver a message to their customers. These stupid mistakes happen for a lot of reasons including cultural insensitivity, poor grammar choices, language translation, and even spelling errors. But, my research indicates the most common cause is just being plain old stupid. In no particular order, here…
DetailsAbout a year ago I released a blog with this title. I have just updated this trend list. Read on. The following Marketing Mega Trends will rock your marketing world for many years to come: Hispanic Revolution Hispanics accounted for about half the growth in the U.S. population since 2000, according to a recent US…
DetailsHaving thoroughly researched the topic of niche marketing and having written a book on the subject, I can tell you with some authority that there is no algorithm for finding a niche business that is perfect for you. Making that choice is art rather than science. My research did uncover some commonalities among the successful…
DetailsI am frequently asked about the difference between selling and marketing. Academically speaking, selling is a function of marketing, as is advertising, promotion, and pricing. Practically speaking, marketing is what happens before the phone rings and selling is what happens after you answer the phone. Marketing is all about understanding the customer’s needs, figuring out…
DetailsYou can’t help but admire the success of Google. With a market capitalization of $158 billion it is very hard to argue with their strategy. If you visit their corporate website they have a section called “Philosophy” and a button below called “Ten Things”. These ten things represent the guiding philosophy or values for the…
DetailsAuthor’s note: This is a reissue of a previous blog due to popular demand. Repeat. Marketing Mantras Make Money. Repeat. Marketing Mantras Make Money. Again. A mantra is a religious prayer or mystical phrase or poem that instills concentration when repeated and is used for meditation and prayer. The key is to focus on the…
DetailsSocial networking giant MySpace offers access to over 200 Million profiles (also known as ” friends” ) and is by far the most dominant social network available today. While it started with teens and younger adults, older professionals have joined the network including me (despite the groans from my three children). For many, MySpace functions…
DetailsFor many people meeting someone new can be an awkward experience. What do you say to break the ice and begin a conversation? The answer is simple: focus the conversation on them and remember that even the shortest conversation has a beginning, a middle, and a closing. Let’s say that you are at a cocktail…
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