What changed with reference to market in the fifties and sixties?
Answers
Answer:
Explanation:
Marketing has been around for a long time, as a practice it has evolved very little. The biggest changes that drove innovation were perhaps the invention of the printing press, radio, TV and internet. Each new channel bringing new capabilities and ways in which brands and companies could connect with an audience. The 1950s and 1960s are perceived as the golden age of advertising. In many ways however marketing and the challenges of marketers hasn’t changed much, but I do see a new golden age which we are in the middle of right now. One that can teach us about:
Multi-channel, multi-device marketing
Native Advertising
Segmentation
Direct Response
Content Marketing
A Multi-Channel, Cross Device World
The transistor radio was invented in 1954 making radios more portable, the CRT TV was significantly improved in 1950 and newspaper readership was at an all time high in 1950. The ability to get access to the consumer was a multi channel, cross-platform world unlike any ever before it.
The accessibility to entertainment, to news, to information was changing radically. As much as Mad Men romanticized the ad agency of the 1960s, it is easy to see why it would have been an exciting time to be involved in Madison Avenue firms, and marketers were trying to figure out which medium was the most effective way of hitting their audiences. Print was the biggest channel, but Radio and TV were slowly gaining steam, and with the invention of transistor radios, it was possible to have a radio in every room. Marketers were experimenting with the cutting edge technology of the time, and even then trying to develop improved analytics such as Day-After-Recall.
Take this world and change it to PC, Tablet, Phone. Add in TV, Print and Radio and you can see how we’re in a new golden age to get creative with how we approach marketing, the digital age of marketing is maybe 15 years old, only starting to build critical mass in the last 10 years or so. Digital marketing spend will surpass TV spend this year, signalling the end of the age of analogue marketing and the rise of digital marketing as the primary channel, but this doesn't mean that digital has reached maturity.
We’re just now solving how to measure and understand the nature and use of multiple digital devices and how they interact with each other, how consumers use the devices and nuances of how to market across each device, yet marketing mix models are nothing new. The multi-channel, multi-device world isn't a new challenge it's not a new phenomenon it's the replacement of an old challenge and the nature of people consuming content in a variety of ways. Learning how marketers of the past managed their channel marketing might help digital marketers how to better drive targeted messages.
Native Advertising
The hottest topic for advertising, particularly those in the business of display advertising and concerned about adblockers has been the discussion of native advertising and it’s place in the modern marketer's arsenal; and by modern I mean marketing in 1950. A time when sponsors were integrated into the content of the show. Stars would address the audience and let you know exactly who was footing the bill for the fantastic show you were watching, and product placement was an extension of this.
As TV evolved the formal commercial replaced sponsored advertising in the show as it became too expensive for a single brand to sponsor a whole show, but in 1965 Coca-Cola gave us Charlie Brown’s Christmas Special and this is but one example of how advertising supported entertainment, so much so that the Coke brand was incorporated into the final credits and legends exist about it's deep integration into the actual content of the show.
Today as ad suppliers look to maintain revenue, and offer new channels to marketers they’re reverting back to sponsored content that is integrated and appearing as part of the natural overall experience of the consumer. There are lessons to be learned from what messages and content worked the best from our past that we can apply to the new digital channels and native ads being created.
These lessons can be learned by advertisers and marketers alike. The relationship between buying and selling advertising space becomes much more harmonic, in which your brand is a reflection of the content it is presented with as much as the content is a representation of the brands it associates with. The more the line between advertising and content blurs the harder it becomes for the consumer to distinguish the difference of where one starts and the other begins. This means brand is more important than ever when considering the nature of the approach you take to native advertising.