Monday, 2 November 2009

Is PR under the hammer of the tweeters?

Entrepreneurial thought and action daily challenges the Sales and Marketing Status Quo.

For example Product Life Cycles shorten and shorten through the effects of the ‘creative destruction’ * of technological progress and the entrepreneurial marketing and selling of such development.

This applies to both tangible product and intangible service markets it seems. Evolutionary economics abounds. Every one has to fight for their share of the food but the pecking order can be changed by the entrepreneur. Take a look at this entrepreneurial heron who has newly arrived to upset the incumbent gang of peacocks who have held stage at this garden at Holland Park, London for years.

• Cassette tapes were replaced by 8 track which were replaced by Compact Disc which are being replaced by MP3.....
• Conventional Film e.g. Kodak replaced by Polaroid which was replaced in turn by digital photography.....
• Newspapers replaced by on line media
• Traditional MBA and University Alumni and old school tie associations, replaced by social networking such as Linked In and Viadeo

*The term creative destruction is often attributed to the economist Schumpeter:-

Schumpeter’s Gale: “The opening of new markets and the organizational development from the craft shop and factory to such concerns as US Steel illustrate the process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one and incessantly creating a new one ‘ (The process).... must be seen in its role in the perennial gale of creative destruction; it cannot be understood on the hypothesis that there is a perennial lull.” Joseph Alois Schumpeter (1883 – 1950), - The process of creative destruction (1942)

What is next Sales and Marketing issue to come under the iconoclast’s sledge hammer?

Ray Snoddy in his excellent column in Marketing Week magazine suggests that the old PR adage ‘there is no such thing as bad publicity’ may being smashed by the fusiliers of tweeting. We have after all witnessed the awesomely speedy campaigns mounted over the Stephen Gately /Jan Moir debacle resulting in amongst other things – withdrawal of banner adverts by Marks and Spencer and Nestlé on the Daily Mail web site.

What likely business effects will Twitter have on your market?

Your comments please

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