MacDonalds head of marketing, Larry Light, has declared that mass marketing no longer works. Furthermore, Light goes onto declare, 'the end of brand positioning as we know it'.
Light has introduced brand journalism or brand narratives as a way of telling the story of a brand.
"We don't need one big execution of a big idea. We need one big idea that can be used in a multidimensional, multilayered and multifaceted way."
And he's backing it up with hard cash. Whereas two thirds of the company's $600 million marketing budget was once spent on prime time TV, now only one third is.
That is a modern marketeer of the highest order.
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