Written by When one thinks of marketing innovation, amazing new technologies come to mind, not cost cutting. But it is important to use innovation to reduce marketing costs just as it is to generate revenue. The objective is to use marketing innovation to create shareholder value. One methodology I created to do more with less is to, […]
READ MORE »Marketing Innovation or Marketing Innovation(S)
If you look at discussion groups or forums on marketing innovations, what you will see is a long, random list of topics, that include tips, ideas, suggestions and best practices that involve some aspect of innovation in marketing. If you read Techcrunch, SmartBrief and Mashable, then you will see there are new innovations taking place […]
READ MORE »The Practice of Marketing as a Competitive Advantage
We typically think of marketing strategy as the place where we obtain competitive advantage, and not how we practice marketing as a source of competitive advantage. But it can be and it is a great way to focus our marketing innovation efforts. When it comes to marketing and competitive advantage, our emphasis is on marketing strategy, not […]
READ MORE »Marketing Innovation or Marketing and Innovation?
Recently I did a search on LinkedIn for people who had marketing innovation as part of their title and found two types of people, those who had marketing innovation and those who had Marketing and Innovation. So what is the difference? Those who have the responsibility for marketing and innovation have responsibility […]
READ MORE »Marketing Innovation versus Marketing Obsolescence
As marketing becomes increasingly technological, like technology it has a lifecycle and also becomes obsolete. It doesn’t become obsolete overnight; it just slowly becomes less and less effective. Efforts can be made to tweak its effectiveness, but it can’t avoid the inevitable. As products and industries have a life cycle, so do the practices and […]
READ MORE »Why Your Company Needs a Marketing Innovation Strategy
You need a marketing innovation strategy so you are not spending all of your time reacting to the latest developments in marketing, or worse yet not reacting at all. You need to know if there is a new technique or technology that will help you achieve your strategic objectives and then implement it. Clearly no CMO has […]
READ MORE »Defining Marketing Innovation: What it is and isn’t
Before we start our marketing innovation journey, we need to look at some of the ways marketing innovation is defined. Understanding the proper definition of marketing innovation is key if you want to maintain or achieve competitive advantage and/or maximize shareholder value. The wrong definition could lead you to miss legitimate opportunities to “change the game” or […]
READ MORE »Marketing Innovation, Shareholder Value and ROI
The objective of marketing strategy is to create shareholder value. For many, shareholder value and ROI are the same, but they are not. When you look at ROI, you simply look at how much you invested and how much you got back. If you spent $1.00 and received a $1.10, then you got a 10% […]
READ MORE »Marketing Innovation and Related Definitions
Marketing Innovation Strategy is the plan of how to incorporate advances in marketing science, technology or engineering into marketing (strategy, research, communications, operations, and analytics,) increasing your marketing efficiency or effectiveness, resulting in competive advantage and/or increasing shareholder value. Marketing Science – originated from operations research and uses matheematical approaches to predict responses from consumers, […]
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