Join Elena, Angela, and Rob as they discuss marketing effectiveness with guest Mark Ritson. Topics covered include the importance of research in discovering effective marketing strategies, the impact of AI on advertising, undervaluation of TV advertising, and the enduring lessons of marketing history.
Radio advertising is undervalued but has a significant impact on overall marketing strategies.
Deep dives
Consumers Remain Fundamentally the Same
Despite changing tactics, the nature of consumers remains constant. Mark Ritson highlights that the unchanging man or woman is central to marketing operations.
Marketing Effectiveness Misconceptions
Ritson debunks the myth that consumers are drastically different now. He critiques the notion that newer strategies and channels revolutionize marketing, emphasizing the enduring core principles.
Value of Traditional Mediums
Ritson stresses the undervalued impact of radio advertising, citing its significant sidekick effect on overall marketing strategies. Despite the allure of digital channels, Ritson champions radio as a powerful and often overlooked medium.
Future of Marketing Effectiveness
Ritson predicts continuity rather than radical change in marketing effectiveness. He warns against overhyping transformational shifts, advocating for learning from historical successes and viewing change with a critical eye.
Why has America fallen behind the world in marketing effectiveness knowledge? And what can we do to catch up?
This episode, Elena, Angela, and Rob are joined by professor, consultant, and columnist Dr. Mark Ritson. Based on his experience as both a marketing academic and practitioner, Mark shares his thoughts on the state of marketing effectiveness in the US, what we can learn from the history of marketing, and the importance of balancing research with active testing to discover marketing strategies that really work.
Topics covered:
[04:30] What is marketing effectiveness?
[07:30] Why Mark created the Mini MBA
[15:00] How AI will change the future of advertising
[17:15] Why marketers undervalue TV advertising
[21:00] The differences between effectiveness and marketing science
Get more research-backed marketing strategies by subscribing to The Marketing Architects on Apple Podcasts, Spotify, or wherever you listen to podcasts.
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Listen to the best highlights from the podcasts you love and dive into the full episode