Isaac Brekken/Getty Images for Mastercard
American actress Jamie Chung in Mastercard’s selfie studio at the Money 20/20 conference in Las Vegas in October 2016
“What we realized is that advertising is not the way to go. It’s not about communicating but it’s about story making and hence we have to shift to an experiential platform. So Priceless is now for us as a holistic marketing platform, which means in all the four Ps of marketing [product, promotion, price and place], Priceless is infused,” Rajamannar said.
He added that consumers’ expectations are higher than ever, demanding the best price, wanting brands to “delight” them, be authentic and do something “good for society.”
“The first thing that any brand has to do is to realize that this is [the] reality [they have] got to deal with. There is no point in complaining that the consumer is expecting too much,” he said.
“Marketing Media Money” will be broadcast on CNBC on Friday 17 March 2017 at 11pm CET.
