Marketing And Its Double Talk

Marketing And Its Double Talk
It was a conversation between two people in a Whatsapp group. Someone listed several service providers in the CRM space and asked people to vote for their favorite service provider.

Another said what he believed was a glaring omission from the list. According to him, the largest service provider in the CRM space has been dropped from the list of options.

In the response of the person who created the survey, the latter pointed out that there was a gap in the questionnaire that led to some embarrassment.

He said the survey aimed to identify leaders in "customer loyalty management" (the new face of customer relationship management), which he confused with customer relationship management (CRM in its original form). And yes, there were differences in what everyone did.

CRM isn't the only marketing term that redefines its meaning.

If you closely align with the advertising and media field, TAM stands for "TV Audience Measurement", while SOM stands for "share of mind" that a brand can capture through its advertising. In today's marketing, TAM is increasingly referring to the "total addressable market" or the monetary value of the entire target market of a product or service offering.

On the other hand, SOM stands for Available Usable Market, the space it can realistically occupy.

As we speak, more acronyms are being coined to add to the confusion or confusion in marketing. A marketer recently coined the term "universal pain point" with a column in this post, which he believes is USP 2.0.

In the classic definition of marketing, USP is always the "Unique Selling Proposition" or the ability to clearly differentiate itself from its competitors in the market. However, USP 2.0 is intended to be an attempt to identify and treat the exact pain point defined by most brands of TG (by TG we mean the "target group", not the term used to describe glass transition temperature or glass transition temperature measurement). translational foundations).

He said marketing is an easy game.

(The author is an editor of ETBrandEquity.com. This weekly column reflects the discussions, debates and thoughts of our editorial team.)

The authors write that WhatsApp will soon evolve into a medium for mass consumer engagement and promotion.


  • Posted on April 15, 2023 at 08:28 IST

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George Orwell - Doublethink

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