Saturday, July 28, 2012

Tradition to Innovation

The U.S growth is slowing at 1.5% and so is job creation
The 17-nation eurozone’s unemployment rate reached the highest level
since the creation of the common currency 13 years ago, climbing to 11%
in April as employers slashed 110,000 jobs.

Greek unemployment rate has hit a record 21.7 percent.
A record 54% of young people are without work.
1.1 million people are out of a job in a population of just 10 million.
Spain is no better than Greek and U.K double dip recession is worse than expected
Globally, most governments are experiencing a slowdown.
However, the online economy is growing at an unprecedented rate, particularly the mobile platform
Top phone vendors worldwide: Samsung (29%) followed by Apple (23.1%) have impressive results.
"On June 29, 2007 the first iPhone was released. To date, more than 217 million iPhones
have been sold, and they're being used by construction workers to read blueprints, doctors
to diagnose patients, governments to improve services and parents to quiet their kids.

The App Store has also created a new mini-economy. Apple has paid out more than $5 billion to
developers and 18% of U.S. adults online have an iPhone

Samsung 2nd quarter profits in 2012 nearly double previous year because of increased sales of smartphone.
Facebook with 900million users have tripled their mobile users in the same period. 

To benefit from this trend we should shift from traditional to innovative marketing.

1. Traditional marketing is based on experience, innovative marketing is based on psychology—the laws of human behavior that determine buying patterns.
2. Traditional marketing recommends that businesses increase their production and then diversify; innovative marketing recommends that you maintain your standard of excellence.
3. Traditional marketing encourages linear growth by adding new customers, innovative marketing encourages attracting new customers with excellent service.
4. Traditional marketing advocates destroying competition; innovative marketing urges collaboration.
5. Traditional marketing believes strongly in sales, innovative marketing believes strongly in relationships
6. Traditional marketing is slow to embrace technology; innovative marketing is dynamic and quick to embrace technology.
7. Traditional marketing identifies a few marketing weapons that are relatively costly; innovative marketing identifies several weapons that are free and relatively less costly.
8. Traditional marketing intimidates small-business owners; innovative marketing is a game changer for entrepreneurs.
Enjoy the Summer Olympics in London as you shift from tradition to innovation.