they're on the wall for more than 60 years so marketing is about promoting the selling of goods of services right west situation today with pandemic shedding light on problems with consuming and anti consumption movement gaining ground do you think a new set of rules and guidelines is needed well the covert situation is going to change a lot of our lives right now and then when covert is finally contained and terminated we will have quite a different economy how how are is college how is coded affecting us today well 1st of all there's limited opportunity to go into stores where one can catch cold coronavirus and so more and more people are using the on line approach to buying what they need

and that means their culture has accelerated the rate at which we become computer and and technology. and that won't change i think anyone who does a lot of ordering for the next months and however covert last are going to. continue to save time by ordering things from very good organizations or carry almost everything we have a company called amazon where you can are almost everything and i won't be surprised if they're going to sell a car too in the future so that's one thing. the whole meaning of a company's brand is changing is changing if the company continues to just talk about the brand as if there's no coated situation. it's going to lose

control of it because a brand is not made by the company alone it's made by all the people on facebook are the people who talk to each other about chronic they experienced whether they liked it or not a bad brand can easily be exposed so companies have to rethink what is their message own message doesn't work in today's world a message it works is caring for the problems that people have and right now we're saying that more companies have to could have a purpose behind their brand their brand must be carrying out a purpose that enriches the lives of the customers i can go on but my brief answer is that. marketing is completely changed today because of the coronavirus. but talking about reaching out to customers i realized based

on myself that people have changed during the pandemic right during this crisis many material things that he used to seem important don't really matter that much well maybe spiritual things or human contact they became more important what is the consumer like in the age of college 19 or or in post called a day most companies are much more with a specific type of consumer that they try to deeply understand and in fact be the best server of that type of consumer. what are the types. i've developed a appreciation of some new types that are coming up and maybe you've seen it before but some consumers are deciding that they are buying too much stuff there's no

room. in fact they would like another appliance but there wouldn't be any. place to put it. they could buy a car but some young consumers are and some countries are saying it's or is it because going to be i don't know any percent of the time why would i tie up my money in a car i could get it goober drive me anywhere for much less than owning a car a show that's called a sharing society so there's a group called life simplified as people who want to simplify what they are own or need to own and so on there's another group that is worried about the planet and about true much consumption we're using up our land and our and our and we're not taking care of our oceans and we've got it maybe there's too much over consumption

some people have to especially those who are building yachts and mansions and so on . can we afford all of that to be happening. there's another group of wants to. eat better they want they realize they've been buying hot dogs and hamburgers and that isn't good for your health if you overdo it so they are sane eaters they are vegetarians in some cases are vague and begins and so that's another group and some of them are won't they we call them people who who want a conservation are saying basically we've got to make better products that last longer that we can recycle we can read care we could reuse and we can research related to other people who are poor and would

find these products and fish i mean they call that a circular economy so look just in a minute i mentioned maybe 4 or 5 different groups of consumers. and they may not altogether not be the average consumer yeah average consumer is going to be groping with this situation and trying to be sure they can get access to food and health and then they have to think about education for their children and others and what to do. so you're saying we're over consuming that over consumption or even just consumption is what keeps the whole capitalist system running right capitalism works well only when there is a constant increasing consumption so the nature of consumption changes and you're saying it should change and it won't be quo ing steadily anymore how will

capitalism survive or will it survive it's excellent question because marketing is based on the idea of helping. companies get things that would satisfy their needs some of the needs of course are created by marketing i have to admit that. and and the idea is to help companies sell what they make. and many people normally think this will go on forever that consumption will continue production and consumption will continue forever. against the concern that people have that we're going to bury the planet if we do that. so marketing is in a very in an identity crisis there are people who wish we could ban marketing or ban advertising they don't they're not

very they're not found in many places but they just feel that much of what marketing does is create this satisfaction with our lives because we are shown cars and new phones and other things that we must have well we believe we have to have it and especially if several of our friends are getting those things and happy with those things we feel discontented with that move to make not buying them so marketing's job is to produce this content to some extent which can be overcome by buying sponsoring. i don't know how to stop that these are nice people who are marketers and salespeople who are doing their job which is to. supply things that

might improve the lives of people if they want to buy these things so marketing isn't a crisis is it the is it the cause of the depression of many people why they're depressed or is it a factor contributing to that marketing has to rethink its basic role in terms of human society but if you're saying that marketing is in crisis does it out a magically mean that capitalism is also in crisis. well capitalism is in crisis i've been writing about that i wrote a whole book called the contrasting capitalism with the 14 big problems which we all know about that there's a lot of poverty in the world. and it's a lot of low income for workers who are working hard i'd rather pay

a person of clerical x. the city's garbage more than the c.e.o. of a company because he's doing more to sacrifice his life and we and nice especially think teachers are so underpaid tell the point is that we need. to think through. how. how marketing could serve society in a better way now you raise a question of capitalism yes. that's a way of organizing ideas and services and products. and that's worked pretty well in the sense of creating economic growth i mean anyone who is a real capitalist will say well we have made it possible to have the best output and growth in the world. yes but has it been shared equitably and the answer is no

the rich get richer the workers state editor at the old pay and the poor no one is taking care of soap capitalism deserves criticism. basically on the inherent in inequity of the sharing of the gains at another words to me at company works when it has a team and a team members include customers employees suppliers distributors and the communities and either they all work together make the company successful or they don't but if they make the company successful we've got to have a better sharing and not pay the c.e.o.'s $300.00 times what an average worker is being paid job or save capitalism but put it on a better basis and the ones who have done that are the scandinavians the scandinavians and in fact i wrote an article recently carter is america ready

for scandinavian capitalism and the answer i good is yes and certainly we should pay higher taxes not the average worker who is paying enough and can't pay much more tax than people who have the money either. and let's use it and make college education free or at least less costly where people make the health care system care for everyone was out a money every time he got sick or something so yes higher taxes make sense and more scandinavian capitalism makes a ok that's very interesting capitalism but scandinavian style so it's take capitalism of the future scandinavian style kept i think she mr cutler we're going to take a short break right now when we're back we'll continue talking to philip cutler

father of modern marketing talking about what's happening to the model of marketing as we know it to stay with us. to. well the demick no certainly no blood is to nationalities. as a word we caught up with the wee dog. world to. come

in a crisis so. we can do better we should. everyone is contributing way but we also know that this crisis not go on forever the challenge is creating the response has been so many good people are helping us. it makes us feel very proud that we are in it together. insulin resistance is affecting people all over the world it's a condition that wreaks havoc on the body's metabolic and immune systems and results in poor quality of life for many will it take the people to realize that a sweet street can be the worst poison.

she stressed to me not long but last week or so that the british at the bill of blood turned out that you had to. stop question was to your street dentist a place to she's ok so i pushed. her to which she def happened and look what you've seen in a response to checker i'm only man for sure and. want to go to the source of your might your bone structure be. it's a mistake was a word supporters are still welcome to the spirit of the book they seem to be arguable that it's a stupid actually a person to be vocal or should stop them spinning.

expressed should. be used as a war of the more fleecing of the believer. moves and sure they're. going to put it down as the guy. i was lonely as a name for i missed any of those comments moved closer and. closer to school with the appeals so school and see the both of you so. the point was being used to move the book with those girls discovering that those that would use up these are the be used by the up in the media of course free.

and we're back west philip cutler father of modern marketing mr cotler here is it a question maybe a bit of a philosophical question but i'm sure you thought of it as well see in recent years i've noticed that and correct me if i'm wrong there's a shift in people spending happy it's like before people really wanted to buy and own stuff to feel happy or right to feast to feel better about themselves now that they need stuff yeah yeah yeah to to to to to feel established you need to have stuff now the focus is shifting on buying and living and experience not stuff and experience so instead of buying so let's say a flat screen people now book

a trip overseas and 7 new car they sign up for a university course right can this new value that's put on the experience help the global economy well the demand for stuff is going down i like their idea it means that we don't have to produce so much physical stuff which requires ruling the earth basically by taking resources many of which can't be replaced later and making sound things so experienced is by the rate we are the songs what happens with the experience of more people want to travel to a distant location as a sightseer you need an airplane to get you there and you need a busy hotel that also sells food and other things so. but there is an observation that. it has to do with a service economy the service economy is growing in relation to the goods economy.

and so many things are intangible you know service is an intangible yet you see it and it takes place but it's not anything physical going to the colleges it is getting erika a bunch of things like that are services. there's been a could do so many capitalists have found that if they can satisfy what we call intangible once not once for physical goods but intangible ones and they do a good job of it often and many many consumers are doing a trade off between having a car or using the money for their education or travel or something i don't know i haven't seen that measure it's a good question and maybe increase country after country and in

a country with lower income probably stuff getting physical things is the 1st order of business not having experiential. spending. on the other hand right it is our human nature to to like the abundance of choice i mean sometimes you just can't help it and will like having new things and like having beautiful things and then on the other purchasing all those new things leads to over consumption so here's the thing because this is like battling the basic human nature right is there a way to balanced is to sas ets of our life the desire to have road rage of good things and why shouldn't we if we want to able to was right and also the risk to slip into having too many of these things that is damaging the planet like you're saying where where is they or what's sticky for balancing those 2 major parts of our life. yeah each person has as an issue in their own

lives. it is human nature to respond to. good products to enjoy the design and the aesthetics of of seeing well built buildings and rice cars and so on and if one has the means to consider acquiring these things it's partly thurston's album the great economist called conspicuous consumption we sort of like to send out a message to other people that we are current we we not only are you looking for things but we want to own them. there's competition for. outperforming others by owning more i'm sure. and that's going to go on

it's also driven by marketing through marketing helps introduce awareness of certain products that you could add to your life and. it's easy to have the money to go ahead the balance i don't know what's in there it's less there's a movement a social movement that tries to say please contain your wants for physical things and think about how the planet is going to be hurt by you consuming more then you need to consume eat of course eat well in. life but don't make your life about just make your life about other people make your life about. having a good plan and so on so i don't know so a social movement might. contrast to the normal thing of buying when i never.

know i've read that after a 2003 sars outbreak people were afraid to go to a crowded shopping malls and turned to online retail and this led to the rise of alibaba and other e-commerce giants and it's obvious that this president make the code 19th and make has boosted online trade just as well. but can't replace offline shopping for good boutiques shopping malls transporters our life completely in that way yes it's interesting. i saw the problem 1st in my own. life because my wife for years stop shopping in stores. i don't know if that was general or just an. it with her friends a few friends she everything would be ordered online

a package would arrive she'd opened it up if there was a dress she would try it and if it was good she'd keep it otherwise she sends it back and so that so i ask or sometimes does she misc owing into. a store and for foreclosing and she says well if she doesn't object to it there's no reason not to do it if we're in a shopping area she'll probably see the whites look at the windows and maybe walk into one so the question is what's going to happen to retail it what we call in-store retailing. if everything could be ordered if you need it we need any stores as a matter of fact when we're dead due to employment consider the number of people who and shopping centers are clerking in those stores waiting for customers.

and we are knowing that we know that many shopping centers on during the pandemic. are closed down basically. we think they're going to be turned into some other use but not as good as shopping centers on come back. at their will there will still be a good cheat and a tiffany and something great where this seems special to some people. many people will look stop at those places maybe not buy anything just to look. and i understand that was a very important part of life for most people most women too particularly. your day to some shopping anderson gyal pulitzer prizes so some people will return to that as soon as

a pandemic ends and. some people will still be ordering more i would say that any real retailer or retail chain is going to do less than they did before the pandemic in other words i expect profitability normally to be lower than they had achieved before the pandemic that there will be a few exceptions few brand new types of in-store experiences and chains and so on that might lead to excitement and shot but generally speaking you're not going to make much money running stores. cutler thank you so much for this wonderful chat i really appreciate i got so many answers to my questions i really hope like you said then we will become more aware and take care more of our planet and

will become more about people and taking care of each other rather than self centered. you know so on this note i let you go your time is precious thank you so much and i also would like to thank cinergy online forum who are going to buy synergy business school for arranging this wonderful chat thank you and all the best. wonderful mom. great you so much for your wonderful thank you so much.

so what we've got to do is identify the threats that we have. to follow only. very. time to sit down and. the u.s. is losing its cachet as world's single superpower u.s. dollar is losing its status as world reserve currency. reserves currency. is picking up stakes and hauling out these. big portfolio. in the money management

space 20 percent of his portfolio is the world's biggest hedge fund now in actual gold bullion. circuits so that tells you also that the u.s. dollars days are numbered. during the vietnam war. there was a secret war. for years the american people did not know. how much. capital. millions of unexploded bombs still in danger lives in this small agricultural country. go to the u.s. making amends for the tragedy and. help to the people need.

the schools lose some we have already commented on this and said we have nothing to hide also continues to urge germany to share its information on the alleged 'd poisoning of alexina volley while nato calls for an international probe. russia ready for phase 3 of trials in its a work towards its 1st coronavirus of vaccine that's after british medical journal concluded the drug named sputnik produced an antibody response in all participants so far. and that development comes as coping $1000.00 infections hit a daily record in france and other countries across europe are also witnessing a spike in cases. headlines my colleague.