Global consulting firm McKinsey focuses on the increasing sophistication of marketing in Issue Number 1 of the McKinsey Quarterly for 2015.
McKinsey is bullish on marketing, suggesting that "we are, in fact, on the cusp of a new golden age for marketing. At the core of the new era are five elements that are simultaneously familiar and fast changing." The elements identified by McKinsey are:
- Science
"Advances in data, modeling, and analysis allow precise measurement and management of customer decisions and more targeted spending." - Substance
"Marketers can directly shape the business by evolving the customer experience and the development of products and services." - Story
"The ways to tell a story are morphing continually, drawing on richer digital interactions and more powerful communications tools." - Speed
"Consumer preferences, market dynamics, and product life cycles change with stunning velocity in a digital economy." - Simplicity
"Complexity is the enemy of speed and leading marketers are seeking greater simplicity."
Read this special section of the McKinsey Quarterly which includes interviews with executives from Google and Mercedes.
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