Lots of interesting challenges for the advertising industry these days and the recent Association of National Advertisers meeting certainly summed up those challenges! Here are some of the highlights from today's NY Times.
The official theme of the 94th annual meeting of the Association of National Advertisers was "Masters of Marketing," but it might have been more bluntly, and more accurately, summarized as "Change or Die."
Speakers at the conference, which concluded here yesterday, warned the more than 700 attendees that executives who oversee the estimated $300 billion a year spent on consumer marketing in the United States must become more accountable, innovative and creative or be doomed to failure.
Those strategic shifts stem from a growing belief that most companies have already increased profits as much as they can through cost-cutting, said Michael J. Winkler, executive vice president and chief marketing officer of Hewlett-Packard, and need now to "focus on revenue growth" to further fatten the bottom line.
"Marketing has got to become a competitive advantage," he added, much like superior product quality or better customer service.
The New York Times > Business > Media & Advertising > Advertising: Consumer Advice for Advertisers
Comments