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.

Access to consumer behavior across multiple channels and media

Five years later, 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). – Marketing is becoming the new R&D by Julie Ginches

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