Market & Competitive Dynamics
I just read an excellent book on Big Data (titled, cleverly, Big Data) by Viktor Mayer-Schonberger and Kenneth Cukier.
The authors made several points that were new to me:
I was reading the recent IBM Report on a survey of 1,700 CMOs. The findings are interesting – and depressing. Most disappointing to me was this conclusion: “Most CMOs are struggling in one vital respect – return on investment (ROI).”
As the election season gets into gear, it is worth looking at the role of market research (termed “polls” for some reason) in our electoral process.
I love newspapers. We subscribe to five, and I read them all. I recognize that I am a dying breed, but I still am not convinced those who own and run newspapers recognize that their industry is, too.
Positioning is all about the prospect’s mind and this can only be changed a little bit. The key is to determine where your brand can travel and then to manage toward that spot as best you can.
With the recent Supreme Court ruling to uphold most of the Affordable Care Act (ACA), health insurers face the challenge of reaching and explaining the complex product of health insurance to the 30 million uninsured. HawkPartners’ Abigail Ahearn explains how a better understanding of this target audience and innovative marketing techniques can help address this challenge.
“Ask people their opinion about a product or packaging to pick up insights about their appeal, and you get wonderful explanations that are sincere, detailed and empathetic, but happen to bear little relation to the truth.”
- Subliminal, Leonard Mlodinow
This is the easiest question I have addressed. Now that the primary season is over, the political horse race questions are totally meaningless until, maybe, Labor Day. All the money the media is spending now on these polls should be donated to a worthwhile cause.
Key numbers (at least for those of us who are numerically inclined) tend to stay in one’s mind. That’s the problem with pseudo-numbers. We may first see them with flashing warning lights (such as “X% at a 95% confidence level”), but the caveats fade and the numbers remain when the numbers are public and it's election season.
My favorite pseudo-numbers are the Nielsen Ratings. They purport to tell us (to the decimal point) the number and share of viewers who watch each television program.