A Quote by Michael Rapino
We have not had a ton of innovation and marketing in the concert industry, much like the record industry. We have been a fairly old-school business compared to Coca-Cola and the big packaging/marketing companies.
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Competition is a great thing and critically important in any industry. I respect the companies that build their brand through innovation/great product, packaging, sharp marketing and clever ideas.
I wanted to be an industrial designer, so I went to business school for that, and I then went on to marketing at Interpublic Group of Companies, which was one of the first organizations to actually think about brand marketing. I worked on Coca Cola's account, and then I was recruited by Pepsi, and I ended up being Pepsi's first MBA. I was called the High Wire Act because I was in my 20s and I was given jobs of increasing responsibility that I was totally unqualified for.
You look at marketing: everything that's happening in marketing is digitized. Everything that's happening in finance is digitized. So pretty much every industry, every function in every industry, has a huge element that's driven by information technology. It's no longer discrete.
The best system I've ever seen for intellectual distribution is the direct selling business-also known as one-to-one marketing, network marketing, referral marketing or relationship marketing.
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.
Because its purpose is to create a customer, the business enterprise has two - and only these two — basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are 'costs'.
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.
Advertising has to be contextual, as the potential in 'push' marketing is fairly limited and is largely viewed as spam. Thus there is a need to get into 'permission' marketing and 'pull' marketing to deliver value to marketers.
The world of the consumer, the sheer innovation and dynamism of our culture has never been easy for marketing to keep up with, but now these are suddenly faster and much more powerful. We need a new idea and practice of marketing and of the brand.
I am the CMO (Chief Marketing Officer) of Marathon Agency, a new venture with my business partner Steve Carless. It's a management, branding, marketing, and business strategy. I'm in charge of marketing and branding clients like Nick Cannon, Nicki Minaj, and more.
The fact is that Hollywood, from as early as the sixties to the present time, has ghettoized cinema into the big industry, a marketing industry. In doing this, the audiences have lost touch with the aspects of film which were to be informative and educational and even spiritual.
I found marketing to be highly descriptive and prescriptive, without much of a foundation in deep research. I brought in economics, organization theory, mathematics, and social psychology in my first edition of Marketing Management in 1967. Today Marketing Management is in its 15th edition and remains the world's leading textbook on marketing in MBA programs. Subsequently, I wrote two more textbooks, Principles of Marketing and Marketing: an Introduction.
Coca-Cola is the only business in the world where no matter which country or town or village you are in, if someone asks what do you do, and you say you work for Coca-Cola, you never have to answer the question, What is that?
Coca-Cola is the only business in the world where no matter which country or town or village you are in, if someone asks what do you do, and you say you work for Coca-Cola, you never have to answer the question, 'What is that?'
I've never had the experience of 10 years at Unilever and five years at Coca Cola. But I'm not the marketing director who only wants 25 per cent a year on the revenues. In the old days, you sold something, and you would be happy. At Ajax, we thought we needed more from that than selling a seat and making five grand.
I think the record industry, by and large what's left of it, is still totally homophobic. I think it's much less so in the film industry now, but the record industry, it's always been a man's world.
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