A transparent market means rethinking the ways brands advertise

In the transparent marketplace it's what you do, not what you say, that makes the difference, and that's good for sustainabilityIn New York's Central Park recently, an old man was selling "Banksy paintings" for $60 apiece. His booth was right next to others selling everything from second-hand books to flowers, fruits and vegetables, as well as other art posters.During the entire day, only three paintings were sold, but what looked like any other booth turned out to be another provocative stunt by the artist Banksy himself. The works of art were real and their lucky new owners had snatched a bargain worth tens of thousands of dollars.This stunt illustrates the essence of marketing: the difference between perceived value and real value. In the advertising world, we work to build perceived value and tell people why product X is worth more elevating its appearance or its basic product attributes.Today, people's brand loyalty is still somewhat high, but it's rapidly losing ground, as illustrated by Havas's study, Meaningful Brands, where two-third of consumers across markets said they don't care whether the majority of brands survive or not. We're fast moving towards a world where shouting loudest just won't cut it anymore.When did you last make a big purchase without doing a quick search online? Or posting a Facebook update: "Any good recommendations for a travel company to Vietnam?" The transparent market is making our purchase decisions more conscious and that's good news... Continue reading at 'The Guardian'

[ The Guardian | 2013-12-04 00:00:00 UTC ]
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