Marketing as a Cost: Framing marketing as just a cost is a misconception. It should be viewed as avoiding opportunity cost.
Measurability of Marketing: Belief that marketing must be completely measurable limits valuable initiatives. Measure what you can, but don’t expect everything to be quantifiable.
Making Boring Products Interesting
No product solving a problem is truly boring.
Differentiation can be achieved through unique features or presentation (e.g., San Pellegrino’s foil cap).
Combine products with distinctive services to decommoditize.
Recommended Reading: Unreasonable Hospitality by Will Goddara.
Manipulation by Big Companies
Marketing contextualizes value; perception is key.
Marketing can mislead but isn't inherently evil.
Example: Bernie Madoff used exclusivity as a marketing tool.
Exploiting Human Behaviors
Habit and Social Proof: Innate behaviors are easily influenced.
Marketing has been essential in adopting new technologies and shifting societal norms.
Addiction to Products
Habituation and ritual lead to perceived addictions.
Changes in familiar products can cause discomfort, akin to addiction (e.g., switching from iOS to Android).
Surprising Marketing Campaign Results
Unexpected results often occur, validating the need for testing.
Psychological perceptions can differ from logical assumptions (e.g., higher prices increasing demand).
Price perception varies greatly and can be influenced by context.
Controversial Marketing Perspective
No objective perception of value; value is context and perception-dependent.
Decisions are based on contextual cues rather than objective reality.
Marketing Secrets and Ethics
Companies may keep some marketing practices private (e.g., taste of Diet Coke).
Ethical consideration: Would you share your marketing strategies with an audience?
Subscription models that are hard to cancel erode consumer trust and market fairness.
Future of Marketing
Potential reversal of marketing: consumers using AI to find products.
AI may filter marketing content due to increasing volume.
Custom, consumer-driven marketing could become prevalent.
Inspiration in Marketing
Continuous learning and the everyday experiences enhance marketing skills.
Marketing benefits from a wide range of activities and observations.