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Remember the New Coke? A disaster, right? Or how about the commercial where "Mean" Joe Greene meets a little kid holding a bottle of Coke? A masterpiece, right? Wrong, on both counts. Sergio Zyman, who was the chief marketing officer at Coca-Cola, will tell you that while the New Coke nose-dived, it--and the subsequent reintroduction of Coke Classic--helped to reconnect people to the soft drink and revitalize a brand that was losing market share to Pepsi. And as for "Mean" Joe Greene, while people loved the ad, it wasn't doing what good marketing should do: sell product, which is what Zyman's book, The End of Marketing As We Know It, is all about.
For Zyman, marketing is not an art, it's a business. "Marketing is a strategic activity and discipline focused on the endgame of getting more consumers to buy your product more often so that your company makes more money." He sees too many marketers who don't understand this point, who are too concerned about projecting image when they should really be focused on producing sales. Zyman peppers the book with stories about various campaigns at Coke as well as assessments of companies that get it, such as Starbucks and Southwest Airlines, to companies that don't, for example, Nissan and Levi's. He believes that the old-style marketing of Madison Avenue is dead, that it no longer has the "ability to move the masses," that in today's "consumer democracy" there are simply too many choices. Instead, marketers will have to focus on sales, conversion rates, targeting customers, and creating value for shareholders. The End of Marketing As We Know It is not a primer on how to do better marketing; rather, it's a reordering of priorities so that good marketing will be done in the first place. Recommended. --Harry C. Edwards
Book Description
Marketing today doesn't work. Or so says the "Aya Cola," Sergio Zyman, former marketing czar of Coca-Cola and quite possibly the most famous marketing gadfly in the world. Brilliant, irascible, unconventional, Zyman is best known for reinventing the Coca-Cola Company's marketing approach by spearheading the global launches of Diet Coke, New Coke, Classic Coke, Fruitopia, and Sprite. Now, in this brisk and revolutionary book, Zyman shows why old approaches to marketing have lost their fizz--and how to get a jump on the strateies that will work in the twenty-first century.
Zyman explores such topics as:
- Why feel-good marketing is pointless unless it results in sales
- Why marketing is a science not an art
- How a well-honed strategy is more important to success than what ads say
- And much more
Customer Reviews:
Solid Foundational Book on Marketing.......2007-03-15
This is a fairly quick read. I bought it because I was interviewing with the Zyman Group, a marketing consultancy started by Sergio Zyman. I read it in a couple hours on the plane. Nothing earth shattering but a solid foundational look at the practice of marketing. While the book is primarily about consumer marketing, the lessons within are applicable to B2B marketing as well.
I really like Sergio's core assertion that Marketing is essential to the growth of any company (of course I'm a marketer) and he hits the point early and often throughout the book, starting in the first sentence of the first chapter: "The sole purpose of marketing is to get more people to buy more of your product, more often, for more money." It's a simple but powerful definition of marketing, and I love it because it reminds people that marketing is a critical strategic function and not just a tactical group that does advertising, promotions and PR.
In summary, there are lots of good takeaways in the book and it is a good read for new and old marketers alike.
Still the Number One guide to brand marketing.......2006-11-03
This book is a PRACTICAL guide to building multiple brands in the new world of marketing. It is a great reference to doing things differently and pushing the envelope.
Persuasive.......2005-11-25
The author presents a fresh, down-to-earth way of marketing that easily is forgotten, at least in big organizations. This is what it is all about. Perfect for stimulating more short term action oriented thinking among marketers, while still remembering the importance of brand building.
/J.A.
Where's the beef.......2004-05-17
This book by Sergio Zyman is an interesting perspective into the mind of the ex-Coca Cola executive.There are a several nuggets of value in the book, which are based on Sergio's experiences at Coca-Cola. At times he does wax on about things outside his domain of knowledge without throughly researched facts to back up his musings. However, as a perpective of his thought process, and in particular, the impact of some marketing moves at the firm, the book makes an interesting read.
Thumbs Down.......2003-04-28
Honestly, I was expecting a lot more out of this book. Zyman does a wonderful job at taking a lot of credit for his accomplishments in the marketing world. Nevertheless, there was not a page in the book that the word "I" wasn't mentioned. I wasn't expecting a personal story on how he conquered the markets with the coke brand. I was looking for new and original ideas that were used to improve my marketing techniques.
Book Description
The controversial marketing guru discusses the revolution in advertising strategy
"What can I say about Sergio Zyman? He's a genius; that's all."-Warren Bennis, University Professor and DistinguishedProfessor of BusinessAdministration, USC Marshall School of Business
In this follow-up to his bestselling book The End of Marketing As We Know It, Sergio Zyman, Coca-Cola's renowned former chief marketing officer, argues that the business of advertising as we know it is dead. He uses real-world examples to illustrate how modern advertising overemphasizes art and entertainment and neglects the most important rule of advertising-sell the product. With a keen eye and a no-holds-barred approach, Zyman discusses how advertising died, what killed it, and how to revive it. He addresses the most critical issues affecting any organization's sales and marketing departments, using his time-tested, unorthodox, and sometimes even counterintuitive principles in order to translate key strategies into positive business results. For marketing managers, advertisers, and CEOs, this book offers groundbreaking advice from one of the legends of modern marketing, as well as the knowledge, insights, tools, and direction to transform advertising strategies from hoping to planning, from art to science, from guessing to knowing, and from random success to planned success.
Customer Reviews:
From the guy who brought you the NEW COKE Remember that?.......2006-06-29
Yep, this is the guy -- Sergio Zyman -- but you know what -- he does get the fact that advertising is CHANGING or HAS CHANGED -- but 4 years (book written in 2002 or maybe even 2001 and published in 2002) is hopelessly dated only 3 (yes, THREE pages) on the Internet and advertising on it-- okay now I counted 4 in the rather skimpy index. This is the followup to his book The End of Marketing as We KNow It. Now I know that Zyman knows his stuff because he's one of the spokespersons for 'branded entertainment' which has taken over the world and TV and The Internet etc etc...BUT some of his comments are still especially relevant like giving your brand a kcik in the [...]....importance of research-based data....the evergreen of animated characters...packaging is a kewl chapter -- what about Altoids -- could have been your grandma's candy but sure ain't....Tiffany's blue box...cup of soup and more...some good quick scanning here would be helpful if you're looking to move beyond the ordinary for your brand or campaign....
Thought provoking..........2005-03-21
I have to disagree with the major part of these reviews. Zyman says at the beginning that his ideas go completely against the grain, and that this is not a book to use if you're looking for easy answers.
That said, once you get past the arrogance (it seems that Zyman has the good luck to be the only person who has never made a mistake in the workplace) and the shameless self promotion (if you don't call his consulting company you're brand is in trouble!)...he has a lot of smart points, many of which should be obvious and therefore the hardest to comprehend!
This is a book for people who already have a background in advertising and are looking to stay abreast of the market. He won't give you any answers, he will only help you reflect on your current work situation.
I definitely think it's worth reading...but only if you're not looking for a how-to.
Not a book that will help you make business decisions........2004-06-23
As a new marketing manager given the responsibility of spending money on advertising, I felt like the first three chapters helped me understand 1) What advertising really is and 2) The value a manager should expect to derive from spending money on advertising.
From there the book launches into a description of different forms of advertising. Zyman packs the book full of examples of advertising that (at least in his opinion) work and don't work. He continues on about the necessity of managers to ensure that advertising is positively impacting revenue and profit while lambasting those company's that seem to engage in advertising for advertising's sake.
I really expected Zyman to go beyond the complaints and accolades and help me learn how to develop metrics and programmatic evaluations of marketing initiatives so that I can make the right decisions before spending the company's money. No such luck, I suppose that knowledge like that is the "secret sauce" reserved for those who plunk down money at his agency.
If you know nothing about advertising, this is a good history book of do's and don'ts. If you need to make decisions about spending money on advertising you'll be better served finding a more technical book on marketing campaigns and programs...... or giving Zyman's firm a call I suppose..... which may be the real reason the book was written.... it is after all good advertising.
Packed With Knowledge!.......2004-06-23
Deeply informed by his marketing experience at Coca-Cola, Sergio Zyman knows advertising theories, but he doesn't like them. He is marketing's angry child, shouting, "Traditional advertising just isn't working." He delights in hurling stones at traditional advertising icons, including "brand awareness," which may get your product considered, but will not guarantee a sale or an increase in sales. For sales heft, he postulates, position your product to be relevant to the consumer. Build this "brand relevance," then start working on media buzz. He compliments his own marketing expertise, but who wants a shy promoter? He says corporations waste ad dollars, so if you work in a traditional glass-house advertising agency, you won't feel too secure when you see angry kid Zyman picking up a rock. His targets, according to us, are people who work in Madison Avenue glass houses, and those who hire them.
Good if you're interested in how great Sergio is.......2003-11-24
In his book "Crossing the Chasm," which explored how technology companies move from start-up to success, Geoffrey Moore used a great analogy to explain how market concepts move from the fringe to the center. Moore said the bulk of companies were like cows, always bunched together while contentedly looking down at their tiny patch of grass. Then one cow looks up and thinks, "new grass!" Another cow looks up too, and soon there's a stampede over to a different field.
In branding, the cows are starting to look up.
Sergio Zyman is a former chief marketing officer of Coca-Cola who bills himself as a "high-profile marketing guru." He runs an Atlanta-based consulting group with clients in banking, aluminum, skiing and golf. In 2001, Time magazine named him one of the three best pitchmen of the 20th century.
This book is a follow-up to his 2000 book, The End of Marketing As We Know It. His current book is a collection of observations on the changing role of branding, specific advice on sponsorships and PR agency selection, and musings on the impact of 9/11on advertising. He writes only for companies selling to consumers, ignoring the vital role of branding for businesses that sell to other businesses.
The premise that advertising has "ended" covers attacks on large, traditional agencies, who see advertising through the lens of 30-second TV commercials and define success by the number of creative awards. "The truth is that most agency art directors are frustrated movie directors and most agency copywriters are frustrated playwrights and both consider themselves artists," he says. Instead, he defines advertising as the sum total of corporate operations, ranging from packaging and PR to how secretaries answer phones.
Zyman also argues that "awareness" is irrelevant. "Too many companies make the mistake of thinking that creating an image is some kind of goal unto itself, that once they get their image into the public's mind they'll automatically see an increase in sales and customer loyalty. Unfortunately, it doesn't work that way," he writes.
He makes a strong case for accountability. He dismisses traditional metrics like "reach," "frequency" and "continuity" because of a lack of targeting. Every marketing expense must be treated as an investment, with a quantifiable return. Even sponsorships must have a hard-dollar impact on revenue. Such accountability extends to ad and PR agencies. Don't hire anyone, he advises, who is not willing to be paid based on sales results.
Based on his extensive experience at Coke, he is especially strong on celebrity endorsements and sponsorships. When considering celebrities, key questions to ask include: "Is there a relevant connection between the brand and the celebrity?" Otherwise, it's a waste. Case in point: Hiring Terry Bradshaw to promote 1-800-COLLECT, or Michael Jordan for Ray-O-Vac batteries. What is the risk of controversy? Is the celebrity overexposed? ("Two words: Fran Tarkenton.") Can the celebrity be used in different media? And, does the celebrity actually use the product? There were a lot of frowns at Pepsi when Britney Spears was spotted drinking Coke.
Out of a worldwide marketing budget of $5 billion, Coke once spent about one-third on sponsorships. Zyman now suggests that the word "sponsorship" should be abandoned because it implies one-way philanthropy. His alternative: "Marketing Property Utilization." Key questions to answer before sponsoring events include: What specific business results are you trying to achieve? How much business will the event need to generate to achieve revenue and profit objectives? What are the opportunity costs? He emphasizes that the usual method of measuring return - minutes of exposure compared to equivalent media costs - "is a load of crap." He suggests that property sellers take a stake in the success from the event. For example, a bank sponsor of a NASCAR event paid NASCAR for every new account that was opened.
But Zyman misses the boat in several areas. He not only argues for "positioning," but "positioning du jour." "When it comes to brands, 'if it ain't broke, don't fix it' doesn't work....If your brand is going to succeed, and you're going to stay ahead of the competition, you're going to constantly fix things before they break and continuously realign your message and your image to your customers' wants and needs." It's hard to imagine a scarred veteran of the New Coke fiasco making such a statement.
He dismisses the experience that results from product and customer interaction. Zyman writes: "Pay attention because this is absolutely critical: The people who got you where you are right now - no matter how good they are- can't get you where you want to go. They just can't. If you're going to move ahead, expand your business, or get into new markets, you need to bring in some new people with new ideas. If you can't do that, you at least need to send your old people out to be retrained."
And some statements are worthy of American humorist Dave Barry, known for his catch-phrase, "I am not making this up." "The Microsoft brand, for example, projects an image that the company and Bill Gates himself are committed to making their products bigger, brighter, and more useful. They even try to involve customers in product development. By continually putting out a product that breaks they're giving the impression that Microsoft's technology is so advanced that their products are always in development. The company responds well to suggestions for fixes offered by heavy and light users alike and people end up almost feeling as though they own the company," he writes.
Some of his ideas are good, but are tainted by the blatant self-promotion on almost every page. If you're interested in a book that explores many of the same themes, but details how to put them into action and measure results, check out FusionBranding: How to Forge Your Brand for the Future by Nick Wreden. The difference between the two books is like exploring the same ground, one from 50,000 feet in the air, and the other with a map, guide and compass.
Book Description
Why was the European Monetary System in 1992-93 swept by waves of disruptive speculative attacks? And what lessons emerged from that episode as regards the future of the European Monetary Union? This book provides a comprehensive assessment of the causes and implications of the 1992-93 crisis of the exchange rate mechanism. Cogent factual presentation, original theoretical analysis, and an interpretation rooted in theory, make this treatment by three leading economists essential reading to understand the process toward economic and political integration in Europe.
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Capital Movements and Their Control (International Economics Series)
International Center for Monetary and Ba ,
Swoboda , and
A. K. Swoboda
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The Competitiveness of Financial Institutions and Centers in Europe (Financial and Monetary Policy Studies)
Manufacturer: Springer
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ASIN: 0792331311 |
Book Description
The Competitiveness of Financial Institutions and Centers in Europe addresses key questions facing European financial markets today. It relates to the dramatic increase in competition between financial centres and institutions under the influence of several factors -- the effect of innovation in financial products and technological processes, widespread deregulation and associated re-regulation (prudential rules), the implementation of the single market in Europe and the new strategies of institutions and national financial centres facing more competitive conditions.
Major subjects include the transfer of fragility from the real economy to the financial sector, and vice versa, through such channels as booming financial activities, intense competition and greater risks, as in property lending, and also the more cautious policies adopted by financial intermediaries in response to losses in the recent recession.
The papers were contributed by members of universities, the private financial sector, national and international policy making communities, and presented at the 18th Colloquium of the Société Universitaire Européenne de Recherches Financières, in Dublin, May 1994. They will be of central importance to policy makers, bankers, financial executives and academics.
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Europe and the Evolution of the International Monetary System (Law in Eastern Europe)
International Center for Monetary and Ba , and
A. K. Swoboda
Manufacturer: Kluwer Law International
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ASIN: 9028601732 |
Customer Reviews:
This is a valuable reference book for the researchers........1998-11-11
this book is a valuable reference for the researchers in the international business field. I recommend it to the academic world.
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International Banking and Financial Centers
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The Preeminence of International Financial Centers
Howard Curtis Reed
Manufacturer: Praeger Publishers
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Ratings, Rating Agencies and the Global Financial System (The New York University Salomon Center Series on Financial Markets and Institutions)
Richard M. Levich ,
Giovanni Majnoni , and
Carmen Reinhart
Manufacturer: Springer
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ASIN: 1402070160 |
Book Description
The business of credit ratings began in the United States in the early 1900s. Over time, credit ratings have gradually taken on an expanding role, both in the United States and abroad and in official financial market regulation as well as in private capital market decisions. However, in 1999 the Bank for International Settlements (through its Committee on Banking Supervision) proposed rule changes that would provide an explicit role for credit ratings in determining a bank's required regulatory risk capital. Once implemented, this BIS proposal (often referred to as Basel 2) would vastly elevate the importance of credit ratings by linking the required measure of bank capital to the credit rating of the bank's obligors. With these regulatory changes under active discussion, research into the role for ratings and rating agencies in the global financial system is particularly apropos.
Ratings, Rating Agencies and the Global Financial System brings together the research of economists at New York University and the University of Maryland, along with those from the private sector, government bodies, and other universities. The first section of the volume focuses on the historical origins of the credit rating business and its present day industrial organization structure. The second section presents several empirical studies crafted largely around individual firm-level or bank-level data. These studies examine (a) the relationship between ratings and the default and recovery experience of corporate borrowers, (b) the comparability of credit ratings made by domestic and foreign rating agencies, and (c) the usefulness of financial market indicators for rating banks, among other topics. In the third section, the record of sovereign credit ratings in predicting financial crises and the reaction of financial markets to changes in credit ratings is examined. The final section of the volume emphasizes policy issues now facing regulators and credit rating agencies.
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- Wiley CIA Exam Review (4-Volume Set)
- Working Papers, Volume 1, Chapters 1-14 for use with Financial & Managerial Accounting: A Basis for Business Decisions
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- 2000 Financial Accounting Research System Fars
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