Original link: https://pt.plus/08-06-23-real-work/
The theme of this issue is Real Work.
The opposite of Real Work is Fake Work, false work. It happens all around us: we see people running around, but not really producing anything. They are often moved by themselves, and they also hope that we will be moved with them. No amount of hard work, no reward, sweat will always water gratifying fruits.
But we must be aware that the reason for the low rate of return is sometimes not because the return itself is low, but because the waste in the input is too high. This is a simple primary school arithmetic problem, the problem of numerator and denominator, easy to understand. In actual work, people pay more attention to the numerator, or they are unable to distinguish what is in the denominator, so they grab the watermelon and sesame seeds and put them together to calculate a relatively small ROI.
This point of view is based on a recent book about marketing, How Brands Grow (the Chinese name is translated as “non-traditional marketing”). This book is also the second reading. It is characterized by the use of a large amount of market research data and cases. When reading it, it will have a textbook-like visual sense. When reading it for the first time, it will feel too boring. In fact, this book puts forward some counter-commonsense views from the perspective of traditional marketing theories (such as Kotler), such as: brand loyalty is actually not so different among brands of the same category; another example: brand differentiation It is also difficult to be recognized by consumers – without a lot of real data to support these shocking claims, it is difficult to be accepted.
In this book, the author also mentions another point of view: the influence of advertising on sales exists, but the main reason why it is difficult to measure is because the factors that affect sales growth are often very diverse, and the effect of advertising marketing may vary. At the same time, consumers will also be affected by other factors during the same period of time, such as: competitors’ marketing activities, etc., which means that when calculating the ROI of advertising, no one can say clearly, in the end Correspondence between input and return. The possible situation is: the influence of previous advertisements drives the current sales growth, but when calculating the assessment, the denominator of ROI is calculated based on the current advertising investment, which is a wrong estimate of the current advertising effect. It may also be wrong to estimate the effect of pre-advertising.
But most of these additional sales won’t show up in this week’s sales figures because hardly any of these consumers will buy this week; they simply don’t buy that often even with their newly enhanced propensity. Indeed, most of these extra sales will never show up as part of a lift in overall sales because, before the consumer even buys from the category, he or she will be hit with competitor advertising (or other marketing activity) that nullifies the effect of the advertising exposure. But this doesn’ t mean that the sales effect didn’t happen; that nudge in propensity protected the brand’s sales from the effect of competitor activity. Instead of the competitor’s ad winning extra sales it merely got the brand back to where it had been before (see Danaher, Bonfrer & Dhar 2008).
But most of those extra sales won’t show up in this week’s sales figures because those consumers will hardly be buying this week; even if their propensity to buy has strengthened recently, they’re not buying as often. In fact, most of these additional sales never show up as part of an overall sales boost because the consumer is hit with a competitor’s ad (or other marketing campaign) before he or she buys into the category, Thereby offsetting the impact on overall sales. Ad exposure. But that doesn’t mean the sales effect isn’t happening; the push for this propensity protects a brand’s sales from competitors’ activities. Competitor advertising did not win additional sales, but simply brought the brand back to previous levels (see Danaher, Bonfrer & Dhar 2008).
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