I did a talk to the CEOs of major car company’s dealerships last week. Not sure if it went down too well. It was on the theme of customer loyalty and I was a tad challenging. This is the gist of what I said: The notion of customer loyalty is a modern-day equivalent of East German marketing: the attempt...
Marketing’s situation with metrics has an analogy with the metrics turmoil currently embroiling physics and astronomy. Back in 1998, cosmologists realised that 75% of the universe is made up of something their measuring instruments had never measured before: dark energy. Writing about dark energy, Scientific...
So here’s the agenda for reinventing marketing I promised a while ago. First off, we need to recognise the core. Organisations apply knowledge and resources to supply individuals with products and services that are better quality and/or cheaper than these individuals can provide for themselves. This...
When we say making and implementing decisions is the epicentre of consumer value, there’s one thing we need to be clear about. This is not – definitely not – a claim that somehow ‘consumers are changing’ in some fundamental, revolutionary way. Quite the opposite. There’s nothing new here at all. It was...
Economics is the last leg of our reinvention trilog y. Traditional economics frames the central problem of economics in terms of purely bilateral exchanges between ‘rational’ buyers and sellers exchanging money for tangible goods in markets which are always naturally tending to equilibrium. This perspective...
