Friday, July 23, 2010

Social Rage - Part 2

Since my last post, I've been doing a little reading about the evolution of marketing and how social media plays a vital role in that process.

Strangely enough, I'm not sure how many 'marketeers' know about marketing evolution, which can also be known as New Media - a conspicuous term that encompasses

I have a theory - and I'm not sure if anyone has actually touched on this yet, but with all the social networking fuss, perhaps most have not stepped back to take a bird's eye view perspective and assess the changes we are so engrossed by...

Originally (and i'll explain why I use this term), marketing was known by 4 principles or P's

  1. Product
  2. Promotion
  3. Price
  4. Placement
All in that same order. When was the last time you sat down to review whether this was still relevant or 'accurate' for today's marketing environment? Speculation, maybe, but still worth a look.

A quick wikipedia search reveals a new assessment and claim of the 4 P's and their evolution. There is a new guy in town and his name (sorry ladies) is SIVA. Yes, finally an acronym that can narrow down the universe of marketing into modern-day means of creating a 'thing', making it 'available' at a reasonable 'cost' and letting people 'know' that it exists to serve a need that they may (or may not) have identified.

As defined by wikipedia

A formal approach to this customer-focused marketing is known as SIVA [11] (Solution, Information, Value, Access). This system is basically the four Ps renamed and reworded to provide a customer focus. The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model (product, price, placement, promotion) of marketing management.

Product → Solution
Promotion → Information
Price → Value
Placement → Access

I wonder how many of our industry experts consider this to be worthwhile knowledge...
On this note, I was watching Biz Stone's interview with Stephan Colbert a couple of days ago, where Biz was quoted repeatedly for having said..."The messaging system that we didn’t know we needed until we had it.” To which Colbert responds: “That sounds like the answer to a problem we didn’t have until I invented the answer.”

Taking the arrogance out (which is minimal since Biz is just very cool anyway), that statement is something I had believed for myself when working in Tharparkar, trying to sell drip irrigation to poor farming communities with a company I launched in 2007 called Micro Drip - started with the support of Acumen Fund and TRDP. The farmers didn't know they needed to:
  • save water
  • earn more money but work a little harder
  • use technology that will not only make you the 'cool' neighbor, but also be able to provide a better life/future for yourself and your family
Interestingly enough, the technology itself is a 'twitter' of sorts - a replacement of existing, more prominent ways of doing things (mostly archaic) but the change aspect is like asking them to switch religions.

The bottom line in this change something we should embrace or is it something that will embrace us? I was always told that the only thing permanent in change!

Until next time.
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