New wine, old bottles

From my NETT blog:

Despite working with new technology every day (or maybe because of it!), I like to collect old wares, and my idea of a good weekend includes some time spent trawling through antique and vintage shops.

A recent acquisition was a set of books on ‘modern business’ produced by the Alexander Hamilton Institute back in the 1950s. I was, of course, drawn to the volume on marketing. On leafing through it, I was surprised by how relevant much of the information still was, after nearly 60 years and several seismic shifts in marketing and selling.

Here are a few snippets from the book (with my annotations):

“Marketing concerns itself with all those business activities which begin in the producer’s shipping room and continue until the goods finally come to rest in the hands of the ultimate user.” (This is a timeless reminder as many people equate marketing with just the advertising and promotional aspects of the process. This broad spectrum definition is today even broader as digital and social media marketing extend the process past the delivery of goods and into an ongoing lifetime relationship with customers.)

“The satisfying of human wants depends to no small degree upon the personal and subjective wants and desires of individual consumers.” (This is increasingly relevant as we have moved from the age of mass marketing, which was gearing up when that book was written, to today’s trend toward mass customisation.)

“The basic law of marketing is the ‘law of convention and revolt’. A new mode of life may be created or established, but it will last only until a new style is introduced, often by quick substitution.” (When that was written they were talking about seasonal changes in fashion; now a style can go in and out with days. It’s not strictly a business marketing example, but how long did the planking craze take over public consciousness – was it a couple of weeks, or even less?)

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