Last year I thought that the new medium (AKA Web 2.0) was in the processs of making marketing and advertising obsolete, stating that, Amazon is proving that marketing ain’t what it used to be, and the new Medium has obsolesced the darlings of the broadcast model – marketing & advertising. I also saw indications of open source marketing. Perhaps I was a bit off about marketing (for now), but this recent event, sponsored by Absolut is a good indicator of the obsolescence of advertising:
The only thing missing was the one element that has been present for the launch of a major spirits brands since marketing was invented. Last week, Absolut made marketing history when it launched without a cent being spent on traditional advertising.
The drink company opted instead to lease its own bar, brand it and stage a major photography exhibition there.
Absolut’s strategy flies in the face of marketing convention; an average of $3 million is spent on advertising to launch a brand.
The drink company opted instead to lease its own bar, brand it and stage a major photography exhibition there.
Absolut’s strategy flies in the face of marketing convention; an average of $3 million is spent on advertising to launch a brand.
Hang on to your hats [and business models] folks, because there is a lot more of this in store.
