As I wrote about in my two latest issues of the David report bulletin a lot of marketers are spending millions of dollar on advertising just because they have always been doing it. And they do it even if advertising today is a questionable effort both to build recognition and to build a brand. Sad story for the companies that have to pay the bills…

Seth Godin, as I actually quoted in my last post as well (sorry Seth…), is saying; “The problem is that the people who are spending it are sometimes lazy, selfish, committee-centric, confused or scared.” As an example he is mentioning Prudential that will pay $5 million a year for the name of a hockey arena. In total they have agreed to pay agreed to pay $100,000,000. That is a lot of money according to me…

Imagine if they put that money into design and innovation of products and services instead. Naming an arena will not solve any problems. Naming an arena will not make any difference. Design and innovation will!

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