Along with the technology age came the wave of social networking. And just how big is the wave in fact? How much do our daily activities depend on this flow of unrestrained Internet connections? People all over the world have begun to use the social networks available right from their beginning and today we find ourselves in a world were Facebook or Twitter are a common topic of discussion, no matter the context. Moreover, people are starting to replace the human relationships with the virtual ones, thus leaving themselves in the position where they cannot face the world unless via Internet.
To enrich the picture on new marketing realities that we have tackled in several previous blog posts, we discuss the insights from the Boston Consulting Group (BCG) outlined in the report called The CMO’s Imperative. Tackling New Digital Realities. As its title suggestively indicates, the report presents the main recent developments in the practice of marketing enhanced by the new digital media (such as social media or mobile advertising), based on the results of The BCG Future of Marketing and Advertising Study, 2010.
The European Brand Institute, Europe’s leading research institute for intangible assets, based in Vienna, Austria, has released the 2010 results for its annual brand valuation study, ‘eurobrand’. The study provides a ranking of Europe’s most valuable brands, both individual and brand corporations, as well as detailed brand analyses from country and industry perspectives. More than 3.000 brand corporations in 24 countries and 16 industries are examined (European Brand Institute, 2010a).
In the context of managing and improving marketing performance, the concept of marketing audit should play an important role as a comprehensive process of diagnosing and improving the marketing systems, processes, tools and principles an organization has currently in place.
The current blog post on marketing performance management investigates Michael Porter’s five forces model that facilitates the analysis of the competitive forces that appear in a particular business situation.