The Old Rules of Marketing are Dead: 6 New Rules to Reinvent Your Brand and Reignite Your Business Hardcover – Apr 18 2011
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About the Author
Timothy R. Pearson was president and CEO of Zyman Group, a leading international management consulting firm serving the Global 1,000. He has also served as Vice Chair, Global Managing Partner, Marketing and Communications (and first Chief Marketing Officer) for KPMG, the global Big 4 accounting, tax, and consulting firm; and has been president of several advertising agencies. He has served on the Advisory Board of the Nobel Peace Center, Oslo, Norway, and on the Harvard Business School’s Dean’s Research Society. Pearson has received numerous honors in the marketing arena, including but not limited to Advertising Age’s Best, The Wall Street Journal’s Best, and multiple Belding, Cable, Clio, Echo, Golden Phone, Lulu, Proto, PRSA, and Sunny awards.
Inside This Book(Learn More)
Most Helpful Customer Reviews on Amazon.com (beta)
That's the premise of "The Old Rules of Marketing Are Dead: Six New Rules To Reinvent Your Brand And Reignite Your Business" by Timothy R. Pearson, an insightful and respected leader in global marketing and management consulting.
Every once in a while, a book comes along that dazzles readers with the writer's perspicacity and ingenious observations on current business or consumer behavior. But more often than not, such books don't fully deliver on actionable steps that businesses can take to leverage the value of these pithy insights. This isn't one of those books. "The Old Rules of Marketing Are Dead" is filled with carefully calibrated action steps that can make each of its observations, principles and rules come to life in your company.
It doesn't accomplish this by dancing around the tough questions or more sweeping challenges confronting business today. What's required to achieve brand loyalty in times affected by recession, ongoing economic uncertainty, pervasive ADD, brand choice proliferation and price war conflagration? How can thought leadership invigorate an organization from top to bottom? And just how exactly does a company successfully navigate through cycles of deep recessions, seismic shocks to marketplaces and the continually morphing tastes of oftentimes irascible and increasingly demanding consumers?
There's a carefully constructed roadmap to be found here, one that's convincingly balanced on the need to continually reaffirm a brand's fundamentals and the necessity of responding vigorously to evolving consumer and marketplace dynamics.
Along the way, Pearson redefines some of the traditional tenets taught at every business school and contrasts management and leadership, providing reality-check questions on leadership that may prompt many business leaders to reevaluate their own management style. He examines how companies often hunker down in tough times, sticking to the familiar path rather than reassessing, rethinking and reinventing in response to altered conditions, and the price that's paid for such behavior. He re-elevates the critical role of brand essence, detailing disastrous outcomes that occur when companies act on the mistaken belief that a brand's essence is chained to its brand legacy, demonstrating that the manner in which a brand essence is expressed and brought to life is something that must be continually refreshed, rejuvenated and reinvented to ensure a brand's continued vitality.
There's an ample stream of business parables and checkmate ripostes to naysayers and excuse engines, those who perpetually blame poor performance on the economy, competition or someone else's department. There are fresh-in-our-memory examples of companies that suddenly fall off the rails and flail about even further as business erodes, all because they lost sight of their core, brand essence and brand promise to consumers. There are compelling examples of how the process of reinvention can uncover hidden business opportunities, how brand marketing is inextricably linked to reputation management and how a brand's value proposition is critical to achieving differentiation and preference.
And you'll find plenty of simple, riveting truisms- one being that any product or service today needs a good story, a compelling one to ensure that consumers understand it, what it does, and how it can enhance one's life, all of which leads to perceived value, brand preference and business success.
For those who still consider customer service to be nothing more than a money-pit cost center, Pearson convincingly demonstrates why customer satisfaction and service today define the core of brand experience, and how consumers' brand experiences convert brand perceptions into firm realities, and in doing so, define a brand's fate. He redefines knowledge management as a resource critical to the vitality and competitiveness of a company, something much more than the most brilliant ideas and best practices of a company, but also its accumulated understanding of consumers and customers. He goes on to demonstrate how capturing and more fully leveraging a company's intellectual capital can generate a continuing stream of thought leadership, which demonstrates competency and value creation that can, in turn, lead to differentiation, preference and success.
Indisputably, "The Old Rules of Marketing Are Dead" is an essential resource for marketers today. It's an even more urgently essential one for non-marketing executives (CEOs, CFOs et al), at least those who aim to make marketing a fully accountable discipline within their organizations and those who yearn for a resource that can elevate overall performance, efficiency and ability throughout an organization to successfully navigate through the turbulence and uncertainty that often define modern markets.
What are the 6 New Rules?
Rule One: The Core is Everything. The first part of the book helps to focus attention on what really matters, what the essence of the brand is. Very good advice here on how to emphasize points of differentiation in your field. Many businesses skip this crucial step, but without knowing your essence, you have nothing to build on.
Rule Two: You Have Nothing Without the Foundation. Guard your reputation carefully. Recognize that marketing should be defensive and offensive strategy, and use the tools for both. This section also has a great chapter on the power of a good logo design and why it is important (Principle #7).
Rule Three: There Are Many Choices but Only One Customer. This section focuses on your customer's perceptions of your strategy. It is the core of the book, and the most helpful section. The chapter on why you should measure all marketing choices, and how to do implement it, is worth the price of the book. Marketing without measurement is a waste of money. Too many people focus on marketing as an art rather than a science, but for a good business it is both.
Rule Four: Do the Right Things for the Right Reasons. Some good information here about social media's role in the new economy, but some of the other principles only apply to larger companies.
Rule Five: Infrastructure Is More than Just Pipes. Very good discussion on technology as the enabler of reinvention in the Principle #21 chapter.
Rule Six: Leadership Isn't a Noun, It's a Verb. Great conclusion. The author wraps up his thoughts on marketing and makes the case that marketing should be the leader for all areas of business, welcoming the changes and the accountability that is now crucial in today's marketplace.
I thought that some of the principles under each rule were forced and did not tie together well and that a few were only applicable to larger companies. I would have liked to see more hands-on advice as well, though the principles should point you in the right direction.
All in all, a good book, and a recommended read for any business (or individual) looking to reinvent their brand.
Mr. Pearson in his book makes clear that the current problems with organizations stem from inflexibility and how they have stymied their own growth by clinging to old methodologies and practices. This book teaches you to look at Marketing not just as a way to bring your products and services to market, but a way to create a long-term strategies for brand building and for profitable growth. The main points are that historically marketing has been limited to budget constraints and focused primarily on advertising. Sales have focused on pricing rather than brand building - something that leads to a commodity and low-margin business. Yes, this is a book about Marketing, but it is more about embracing change and creating an organizational culture (from the top leaders on down) that can and does actively embrace change for the better. This is a must read for any business leader!
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