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Marketing – A Dying Discipline?

AI Marketing is as important as robots

Almost everyone is supposed to have some knowledge of marketing, whether it be by direct, hands-on experience in studying and practicing the various principles or being a marketing representative or even by being enticed to partake of something that was well marketed. Evidently, the importance of marketing is far-reaching as it educates individuals about things that are important and, in some cases, not important to them. Essentially, marketing describes any venture to promote and sell products and services which means it takes place constantly and, in many forms, since we are always in need of a product or service.

Throughout the centuries, a variety of approaches including strategic planning and a high human effort have been taken to appeal to the targeted audience groups. Presently, with the prevalence of digitisation, flyers, posters, billboards, and town criers have taken an electronic turn. Artificial Intelligence (AI) has taken a ‘predictive’ stance in our everyday lives, from auto-correct to video recommendations to the brand of water we would be most likely inclined to drink. While this has proven to be a remarkable breakthrough in civilization and technology, the compelling question that arises is, “So, why do we still need a marketing team?”

If an algorithm is able to gather an individual’s information, ascertain such a one’s needs, wants and desires, then market goods and services that are relevant and effective to that person, there would be no need to waste resources on people who have been doing the same thing… right? Wrong. Here’s why.

Regardless of the influx of humanoid robots in this present time, the human element will always be irreplaceable, and the COVID-19 Pandemic has taught us that – the hard way. We must remember that it is the human effort that has developed the software through with the algorithms perform. While the principles and practices that are being learnt are effective, stronger technological methods must be implemented to make marketing sustainable. One solution could be for marketers to learn the coding techniques for these computer systems, nodding to even more efficient AI suggestions. It then behoves marketers globally, to apply the very principles of marketing to enhance their personal brand and secure a sustainable career.

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Meta (Facebook) is Reportedly Planning to Launch Retail Stories to Sell VR, AR and Other Digital Connection Tools

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Meta (Facebook) is Reportedly Planning to Launch Retail Stories to Sell VR, AR and Other Digital Connection Tools

According to The New York Times, “Meta has discussed opening retail stores that will eventually span the world, said people with knowledge of the project and company documents viewed by The New York Times. The stores would be used to introduce people to devices made by the company’s Reality Labs division, such as virtual reality headsets and, eventually, augmented reality glasses, they said.”

The big idea is that to guide users towards Meta’s vision of the ‘metaverse’, an immersive digital world of endless possibilities, Meta will have to get more of these tools into more homes. Subsequently, physical stores may be a better way to establish direct-to-consumer supply chains, while also enabling new showcase opportunities to generate more sales.

Currently, you can purchase Facebook’s products in retail stores, but they’re stacking the shelves alongside many other competing devices and options. If Facebook wanted to invest more into direct marketing, and highlighting its next-level plans, it would be best to do so via its own, dedicated promotion and product displays, which it could directly control within its own stores, built specifically around its offerings.

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Virtual Exhibits Are No Longer Effective

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Informational/educational and those that tried to replicate a tradeshow floor with virtual exhibitors are the two categories that virtual corporate events have fallen into during the pandemic. Of the two categories, educational programming gets a higher number of attendees. When trade show sponsors talk about a hybrid approach to future events, they mostly mention the educational component that the virtual attendees will experience.

Publisher of Airport Improvement Magazine, Paul Bowers, stated that after experiencing both virtual exhibit halls and virtual conferences during the pandemic, he is convinced that virtual exhibit halls do not work, and virtual conferences can effectively substitute for learning in person.

“Virtual trade show substitutes weren’t a complete waste, but I’d be hard-pressed to ever exhibit at one again,” Bowers said. “There is no return on my investment. On one I participated in, I paid the same amount that I pay for the in-person conference, and it was a waste of money. The seminar part can be done well virtually. I’ll spend money to send our editor to attend a virtual conference, but I won’t spend to exhibit virtually.”

 

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NFT Sector Snapshot

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Shelly Palmer

Sales of NFTs have topped $2.5 billion since January 2021, and more than $2 billion has been invested in the sector this year. Here’s a quick overview of the NFT projects and transactions that have my attention, and a look at some emerging NFT trends.

NFTs Defined

NFTs (non-fungible tokens) are unique digital assets built on blockchains that support smart contracts such as Ethereum, Polkadot, Solana, etc. To learn more about the technology and get a handle on the jargon, please visit our blockchain resource page.

NFTs are extremely simple to create. They have three important attributes: (1) They can represent any type of digital file, including websites, art, music, signatures, certificates, diplomas, patents, real estate, and even physical properties in the real world. (2) Because NFTs are smart contracts, future actions (such as distribution of funds) can be programmed to happen automatically when terms and conditions are met. (3) Because they are written to a blockchain, proof of ownership is (theoretically) guaranteed.

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Tales from under the Merkle Tree

Crypto MAY 9, 2021 BY SHELLY PALMER

BY SHELLY PALMER -

As she approached the entrance to the club, she gave the frame of her new prescription AR glasses a gentle squeeze. When she got to the door, it appeared to turn green, indicating recognition that she was over 21 years of age. Then, a message appeared along with a friendly voice asking for the 5 ADA cover charge. She shook her head yes. A moment later, the door opened, which indicated that the transaction had cleared. And so begins a story about life in a trustless, decentralized world − a tale from under the Merkle tree.

Crypto

Ralph C. Merkle is one of the inventors of public-key cryptography, the cryptographic system that enables secure online transactions for banking, ecommerce, and the like. As world-changing as that invention was, his work on the cryptographic hash function and the security and efficiency of his eponymous Merkle tree are even more impressive. If you haven’t guessed by now, the “crypto” in cryptocurrency is, in part, courtesy of the cryptographic hash function and Merkle trees. Merkle trees put the “fun” in fungible and nonfungible tokens, make the blocks on a blockchain unique, and ensure that smart contracts don’t get outsmarted.

A Decentralized World

But we’re just getting started. Those who have stood on Ralph Merkle’s shoulders are about to usher in an era of individualism, privacy, and personal control that we have not seen since… um… ever.

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