Tag Archives: trends

Business Career Tips and Resources

21 Jul

In the slideshow presented below, learn about many of the opportunities and challenges facing those interested in a field of business.

The latest data from the U.S. Bureau of Labor Statistics are included.
 

 

Global Advertising Is Booming

20 Jul

As part of its research on worldwide advertising trends, eMarketer examined the per-capita ad spending for several countries around the globe.

From this research, a few conclusions may be drawn: (1) From 2012 to 2018, advertising is expected to rise sharply in many of the countries eMarketer examined. (2) The United States and 7 other countries will see per-capita ad spending exceed annually by 2018. (3) Even though ad spending will rise substantially in the world’s two most populous countries — China and India, per-capita ad spending through 2018 will remain low compared with other nations. (4) Most of the increases will be driven by a shift to digital media.

Click the chart to learn more.
 

 

The Changing Constants of Marketing (No, This Is Not an Oxymoron)

18 Jul

We’ve written a lot about the rapidly changing world of marketing — with the advances in social media, technology, big data, etc. So, sometimes, we need to pause and reflect on things that are the constants in marketing.

In 1966, McKinsey published an article by John D. Louth on “The Changing Face of Marketing”: “This article from the McKinsey Quarterly archive analyzes six major changes that promised to transform future marketing efforts. These forces have largely proved to be as influential as predicted and continue to shape today’s challenges.”

The six major changes — which are really marketing constants — are as relevant today as they were nearly 50 years ago:

  1. The dominance of the customer — “It is nearly a truism that the needs and wants of the consumer are the critical issues today in creating new products and services, and developing the accompanying plans to merchandise them at a profit.”
  2. The spread of marketing research — “The second trend is the increased use of marketing research — in terms of both quantity and scope. To an important degree, of course, this trend is a response to the first. If knowledge about future customers is essential, and if the quality of the marketing output is materially affected by the caliber of the informational input, then marketing research is bound to increase in use and contribution as the interest in more scientific marketing grows.”
  3. The rise of the computer — “The third major trend marketing must consider is the emergence of electronic data-processing equipment as a major tool of scientific marketing not only for reporting data but also, more importantly, for planning and control by management.”
  4. Expanded use of test marketing — “A fourth important trend, in my opinion, will be toward more controlled experimentation to narrow the odds of an error in making marketing changes. Two major influences emphasize the need for further expansion of test marketing. The first is the rising cost of marketing changes: the costs, for example, of introducing new products and packaging, of developing new advertising and promotional programs, and of retraining salespeople. The second influence is the mounting investment in product research and development. About half of all corporate research-and-development activity in the United States today is concerned with the creation of new commercial products.”
  5. Metamorphosis of field selling — “The fifth trend I foresee is a shift in the nature of the field-selling job toward a more integrated, profit-oriented marketing effort. Key-account selling is becoming an increasingly crucial feature of the field-sales job—a trend with important implications. In many companies, a key-account selling program may entail special analysis of present and potential customers, and the establishment of related control reports to measure profit results with particular accounts.”
  6. Global market planning — “An ever-broadening application of the marketing concept to worldwide markets is the last of the six broad trends that I believe will change the face of marketing in the next few years. Over the past decade, the marketing concept has become widely accepted in the United States—perhaps, in some situations, too enthusiastically accepted and too indiscriminately applied. Nevertheless, I believe the concept of a completely integrated marketing effort is valid and will be increasingly adopted. In many companies operating worldwide, it will stimulate the development of global market planning.”

Click the image to read the full classic article.
 

 

An Interview with Fashion Legend Diane Von Furstenberg

17 Jul

Diane Von Furstenberg has been a prominent, trend-setting fashion designer for decades. Take a look at the Web site of her company to see what she’s doing now.

Here’s a brief bio of Von Furstenberg by Liz Welch of Inc.:

“Designer Diane von Furstenberg was 27 when she made the first wrap dress in 1974. The iconic design landed her on the cover of Newsweek — and millions of women snapped up her dresses. But when demand faded, von Furstenberg ended up selling most of her licenses to avoid bankruptcy. In 1997, von Furstenberg relaunched her company, which now has annual sales of more than $200 million. The wrap dress, too, made a comeback, and recently celebrated its 40th anniversary with ‘The Journey of the Dress’ exhibition, which traveled the globe. And, as the 68-year-old designer recently shared with Inc. contributing editor Liz Welch, she is focused on building a company to outlast any fad.”

Click Von Furstenberg’s photo to read her recent interview with Liz Welch for Inc.
 

 

Are Social Media Living Up to the Hype?

15 Jul

There have been numerous reports about how effective paid social media can be in driving companies’ business. But a new study by Gallup puts some of these assumptions into question. Its conclusion? Paid messages on social media are not very driving a lot of business. [Nonpaid social media reviews, stories, etc. are impactful, though.]

As Jeff Elder reports for the Wall Street Journal:

“Gallup says 62% of the more than 18,000 U.S. consumers it polled said social media had no influence on their buying decisions. Another 30% said it had some influence. U.S. companies spent $5.1 billion on social-media advertising in 2013, but Gallup says ‘consumers are highly adept at tuning out brand-related Facebook and Twitter content.’ (Gallup’s survey was conducted via the Web and mail from December 2012 to January 2013. The survey has a margin of error of plus or minus 1 percentage point.)”

“In a study last year, Nielsen Holdings NV found that global consumers trusted ads on television, print, radio, billboards and movie trailers more than social-media ads.”

Click the chart to read more.
 

 

Nielsen’s 2014 Breakthrough Award Winners

14 Jul

Research giant Nielsen annually examines thousands of new product introductions.

As part of its analysis, Nielsen has identified its 2014 U.S. Breakthrough Innovation Winners: “These diverse new products carry the common thread of finding and filling unmet consumer needs while demonstrating that with significant effort, game-changing innovation is possible in any category and by all types of companies.” The products are all commonly found in the supermarket.

The winning products were all introduced in 2012. We have inserted direct links to these products:

 

Media Trends in U.S. Advertising

11 Jul

The shift to digital media for U.S. advertising expenditures is expected to continue well into the future. By 2018, ad spending on digital media will exceed that for television. Mobile ad spending is projected to rise from 2.6 percent of all U.S. media dollars in 2012 to 26.4 percent in 2018.

As eMarketer reports:

“Strong, steady growth in mobile advertising will push digital ads to represent nearly 30% of all U.S. ad spending this year. Advertisers will invest more than $50 billion in digital channels in 2014 for the first time, an increase of 17.7% over 2013. Just over one-third of that will come from mobile, but by 2018, mobile will account for more than 70% of digital ad spending.”

Click the chart to read more.
 

 

Companies That Have Changed the World

9 Jul

Many companies have had a major impact on business practices and our lives. And a lot of these companies have endured for a century or more.

Recently, Fortune published a list of 27 companies that have changed the world over the last century-plus.

Sorry, Apple fans — but Apple ranks only 16th on the list!

Click the image to see the full list. :-)
 

 

U.S. Advertising Picking Up Steam

7 Jul

After a slow period caused by the Great Recession, annual U.S. advertising expenditures are seeing their biggest increase in about ten years — and things look good through 2018.

As eMarketer reports:

“Total media ad spending in the U.S. this year will see its largest increase in a decade, according to new figures from eMarketer. On the strength of gains in mobile and TV advertising, total ad investments will jump 5.3% to reach $180.12 billion, achieving 5% growth for the first time since 2004, when ad spending increased 6.7%.”

 Click the chart to read more.
 

 

Can You “Pass” This Product Management Quiz? :-)

4 Jul

Happy Fourth of July. Looking for something to do this morning?

Think you know product management? Try out this 10-item quiz.

Let us know how you do. (No cheating: The answers are on slide two.)
 
 

 

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