A Quote by Barry Lam
When companies minimize their costs, they can spend more on R & D and marketing. It's just very logical.
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Drug companies say they need to charge ever-higher prices to cover their research costs, but they spend far less on research and development than they do on marketing and administration, and afterwards they actually keep more in profits.
Over the past 60 years, marketing has moved from being product-centric (Marketing 1.0) to being consumer-centric (Marketing 2.0). Today we see marketing as transforming once again in response to the new dynamics in the environment. We see companies expanding their focus from products to consumers to humankind issues. Marketing 3.0 is the stage when companies shift from consumer-centricity to human-centricity and where profitability is balanced with corporate responsibility.
Drug companies spend more on advertising and marketing than on research, more on research on lifestyle drugs than on life saving drugs, and almost nothing on diseases that affect developing countries only. This is not surprising. Poor people cannot afford drugs, and drug companies make investments that yield the highest returns.
One thing the humanitarian world doesn't do well is marketing. As a journalist, I get pitched every day by companies that have new products. Meanwhile, you have issues like clean water, literacy for girls, female empowerment. People flinch at the idea of marketing these because marketing sounds like something only companies do.
Starbucks is not an advertiser; people think we are a great marketing company, but in fact we spend very little money on marketing and more money on training our people than advertising.
One of the biggest reasons for higher medical costs is that somebody else is paying those costs, whether an insurance company or the government. What is the politicians' answer? To have more costs paid by insurance companies and the government. ... [H]aving someone else pay for medical care virtually guarantees that a lot more of it will be used. Nothing would lower costs more than having each patient pay those costs. And nothing is less likely to happen.
On the Internet, companies are scale businesses, characterized by high fixed costs and relatively low variable costs. You can be two sizes: You can be big, or you can be small. It's very hard to be medium. A lot of medium-sized companies had the financing rug pulled out from under them before they could get big.
A lot of very popular mainstream artists are products of record companies and marketing companies, and any time anyone can stand outside of that, that's interesting.
More and more, companies are realizing the value of their female consumers, and that's showing up in the female-specific products they're making, their marketing strategies, and even the feel of their companies internally.
If you let your mind talk you out of things that aren't logical, you're going to have a very boring life. Because grace isn't logical. Love isn't logical. Miracles aren't logical.
When the trust is high, you get the trust dividend. Investors invest in brands people trust. Consumers buy more from companies they trust, they spend more with companies they trust, they recommend companies they trust, and they give companies they trust the benefit of the doubt when things go wrong.
Received wisdom is that if you spend time up front getting the design right, you avoid costs later. But the longer you spend getting the design right, the more your upfront costs are, and the longer it takes for the software to start earning.
The standard of 'affordable' housing is that which costs roughly 30 percent or less of a family's income. Because of rising housing costs and stagnant wages, slightly more than half of all poor renting families in the country spend more than 50 percent of their income on housing costs, and at least one in four spends more than 70 percent.
Just in the past couple of years, there's been pushback against some of that marketing, as parents have gotten really upset. Now we're seeing Coke and Pepsi kind of shape-shifting. Instead of doing these very explicit marketing deals, they are getting into schools in much more hidden ways - things like My Coke Rewards, where they encourage schools to push their student body to purchase Coke products, in exchange for points that go toward various products for the school. It's a way for these companies to get in front of kids, presented as a form of charity.
Arthur Hughes is one of the pioneers of modern database marketing. His new book, Strategic Database Marketing, Third Edition, contains the wisdom of twenty years of database marketing experience from scores of companies throughout the US. I can heartily endorse Arthur's book for anyone who wants to know the state of the art in database marketing today.
The marketing costs are insane now. So even if you've got a picture like 'Flipped' which cost under $14 million, or $13.5 million, you're still going to spend on an national basis, if you release with a good national release, you're still going to spend, you know, $30-$40 million.
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