With audiences disappearing, TV rates plummeting and clients cutting already slender budgets, perhaps we should be rejoicing that the days of hype and excess are finally over.
The advertising boom of yesteryear will forever be associated with the credit boom. Just as the values of that economic system are now discredited, so to will be the values of the marketing and advertising boom that went with it.
In the future we will no longer have high regard of advertising/marketing that is mass-produced. We will be amazed that Clients, like Guinness, will have paid 15 million pounds for the production of a TV commercial.
Marketing is everything a company does to acquire customers and maintain a relationship with them. Even the small tasks like writing thank-you letters, playing golf with a prospective client, returning calls promptly and meeting with a past client for coffee can be thought of as marketing.