Professor of Marketing Science and Director of Ehrenberg-Bass Institute at the University of South Australia, Byron Sharp, joins the podcast this week to talk marketing science. We discuss:
- Byron’s career to date
- How Byron came to be a marketing scientist and professor, and the work he does at the University of South Australia
- The science of marketing and consumer behaviour: why, despite the randomness of consumer behaviour, it is possible to predict markets without needing to understand the motivations of individuals
- Byron’s book, How Brands Grow – a first to present scientific laws and what they mean for marketing strategy
- The concept of mental and physical availability
- Coca-Cola and the value of the supply chain in the marketing funnel
- Banks and dragons: St. George, and the influence and importance of distinctive assets in communication
- Why physical availability encompasses all forms of access, and why search engine advertising isn’t actually advertising but a form of physical availability
- Why precision targeting is, in general, neither necessary or effective, based on how brands grow
- The consumer trend of ‘premiumisation’ – the demand for better quality based on increased market wealth, and cheaper manufacturing and technology
- A discipline without discipline: the problem with the current culture of marketing, and how this has affected the use and effectiveness of new technologies
- The need to determine the level of commercial media channels consumers are using and the rise of outdoor advertising
- Byron’s thoughts on the future of the marketing landscape and current projects in the Ehrenberg-Bass lab
Such an honour to host Prof. Sharp on the podcast. A wonderfully insightful conversation, this episode is definitely not one to miss!
Byron recommends reading The Halo Effect by Phil Rosenzweig.
Click here for my previous episode with the other Professor – Mark Ritson.