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Posts tagged with Hal Varian

Marketing is becoming the new R&D

Google’s Chief Economist Hal Varian coined the phrase “marketing is the new finance”.

Varian foresaw great advances in ways to satisfy people’s needs, better matches between buyers and sellers, and a more robust advertising environment due to the availability of vast quantifies of rich, real-time, highly available “big data.” His predictions today ring truer than ever.  

Now, the information-rich environment enabled by the net is transforming marketing into something more. Specifically, marketing is becoming the new research and development (R&D).

Marketers now have immediate access to consumer behaviors and reactions across multiple channels and media. This empowers them to take a leadership role in determining consumer preferences, meeting customer needs, and helping match supply with demand. In other words, driving the business.