Which aspect of marketing cost the most? The answer is almost certainly – advertising? Here is another question. What aspect of marketing has traditionally been the least accountable? The answer again is – advertising. While advertising budgets worldwide have declined up to 15% in 2021, overall advertising budgets increase year on year. This prompted retail […]

Which aspect of marketing cost the most? The answer is almost certainly – advertising? Here is another question. What aspect of marketing has traditionally been the least accountable? The answer again is – advertising. While advertising budgets worldwide have declined up to 15% in 2021, overall advertising budgets increase year on year. This prompted retail magnate John Wanamaker to comment –” Half my advertising spend is wasted; the trouble is, I don’t know which half.” Despite this, advertising remains the primary focus of many marketers, with many businesspeople still believing that the terms “marketing” and “advertising” are interchangeable. But marketing is so much more than advertising, and an increasing number of marketing strategies don’t involve advertising at all. Here is a third question. What do Zara – the world’s fifth-largest fashion brand, Krispy Kreme – the world’s most sugar-laden doughnut brand and Rolls Royce – still the world’s most prestigious automotive brand –…