put product development ahead of advertising For many years the words ‘marketing’ and ‘advertising’ have been seen as virtually interchangeable. This reflects a very narrow view of marketing and highlights the aggressive salesmanship of advertising agencies. This is the first of five thoughts addressing the tools other than advertising, or communication, that marketers can and […]

put product development ahead of advertising For many years the words ‘marketing’ and ‘advertising’ have been seen as virtually interchangeable. This reflects a very narrow view of marketing and highlights the aggressive salesmanship of advertising agencies. This is the first of five thoughts addressing the tools other than advertising, or communication, that marketers can and should prioritise. One study in the United States found that 85% of new products fail. Another study found that 95% of new products fail. These numbers highlight just how difficult it is to identify the products that people want to buy. It also suggests that a great deal of money is lost launching and advertising a new product. If the product fails, there is a reasonable chance that the expenditure on communication is wasted. Another study in the United States found that 63% of customers are interested in new product launches, while yet another found…