10 Modern Marketing Facts

1. The consumer is in control.
“We need to embrace the urgent implications of consumer control.” Jim Stengel, Global Marketing Officer, Procter & Gamble

2. The consumer is sceptical and increasingly resistant to advertising.
“In the US 69 per cent of consumers are interested in products and services that allow them to block, skip or opt out of advertising and marketing messages.” Yanklevich Partners

3. Media fragmentation is pervasive.
“The average British internet user now spends 164 minutes online each day for personal use, compared to 148 minutes spent watching TV”. March 2006

4. Mass markets are being replaced by niche markets.

“McDonalds global head of marketing, Larry Light, has declared that mass marketing no longer works. Furthermore, Light goes onto declare, ‘the end of brand positioning as we know it”. Advertising Age, June 16th, 2004

5. Corporate executives are under greater levels of scrutiny.

“As ever, the debate in the industry centres on the best way to achieve results.” The Harder Hard Sell, Economist, May 13th 2004

6. Companies that understand Internet Culture best will benefit most.

“What I worry about much more is our ability to make the necessary cultural changes to meet the new demands of the digital native.” Rupert Murdoch, 13 April 2006

7. Consumers are mobilizing themselves in new, powerful ways.

“The digital native doesn’t send a letter to the editor anymore. She goes online, and starts a blog.” Rupert Murdoch, April 13th 2005.

8. The broadcast model isn’t working.

“What you’ve been selling for the last 50 years, no longer works.” John Stratton, CMO, Verizon Wireless, talking to Agency Chiefs, March 2006

9. Broadband is a mass medium.

“Overall, the EU market more than doubled in 2005 to 48.2 million DSL subscribers, where the UK sits third, behind Germany and France.” 20th March 2006

10. User generated content (CGM) is influential and growing rapidly.

“Our audiences have moved on dramatically. Now they are consuming, creating, sharing and publishing their own content online.” Tom Glocer, CEO, Reuters.