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Evolutionary Inc Newsletter

Marketing and Behavioral Science insights,
delivered every month.
By Lachezar Ivanov 

Scott Galloway Is Wrong – Of Course Brand Advertising Is Still Needed


I love the Dawg. Professor of marketing at the NY Stern’s School of Business, Scott Galloway, aka Prof G, aka the Dawg, is the man. But Prof G has done a big disservice to our beloved marketing discipline.

On his many platforms (newsletter, terrific podcast, and more), Prof G has stated that we live in a new era of marketing where product is more important than promotion. In the past, according to the Dawg, marketers would wrap up mediocre products with favorable brand associations to increase sales. Prof G would add that now it only takes a 100x better product to beat the competition.

Amazon, a company whose long-term orientation I admire, is a prime (pun intended) example of a firm with a superior product. So Amazon can forego brand advertising? Wrong. As Mark Ritson says, most advertising spend is defensive, not offensive. To protect their market share, according to Ad Age data, Amazon has become 2020s world´s largest advertiser.

Prediction: By 2030, Tesla (if it still exists) will be among the top ten biggest advertisers.

Practice. Dream.
Lachezar

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Copyright © 2021 Lachezar Ivanov, All rights reserved.


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