Scott Galloway, professor of marketing at New York University’s Stern School, once asked an audience – “What do Apple, Google, Netflix, Facebook, and Amazon have in common?” Answering his own question – Galloway said – ‘a fucking great product’. He was right! While contrary to the view propagated by most advertising agencies that it […]

  Scott Galloway, professor of marketing at New York University’s Stern School, once asked an audience – “What do Apple, Google, Netflix, Facebook, and Amazon have in common?” Answering his own question – Galloway said – ‘a fucking great product’. He was right! While contrary to the view propagated by most advertising agencies that it is “great creative” or a ‘’great media plan” that sets a great brand apart – the starting point for every great marketing campaign is a ‘great product.’  Further – that the better the product – the lower will be the cost of marketing – as demonstrated by the likes of the businesses highlighted by Galloway. The advertising budget of Apple as a percentage of revenue (0.25%) is a fraction of that of Telstra (2%) – partly because Apple has a great product. The advertising budget of Zara as a percentage of revenue (0%) is a…