‘Likeonomics’ – a new marketing term for 2012?

New technologies and associated marketing initiatives can bring new vocabulary for marketers to absorb – with some more likely to catch on than others. In a Marketing Week article, four marketing experts introduce new terms as well as their opinions on whether they will last. Lucy Handley looks at ‘likeonomics’, the subject of a recent book by Rohit Bhargava. Although the term comes from how some ‘marketers around the world obsess over Facebook’s ‘like’ button’ the article looks at the importance of the consumer trust in a brand, citing examples such as John Lewis. Another new term that also involves the rise of social media is SoLoMo, blending the trends of social, local and mobile with a definition of ‘targeting consumers based on their current location with content or promotions designed to be shared via social networks.’ Tempted to know the other two? Read the full article on Marketing Week’s website. http://www.marketingweek.co.uk/strategies-and-tactics/cmo-strategy/marketing-terms-that-will-reach-the-boardroom-in-2012/4000930.article