Tuesday, October 06, 2009

F.T.C. will revise rules about endorsements and testimonials in advertising

"On Monday, the F.T.C. said it would revise rules about endorsements and testimonials in advertising that had been in place since 1980. The new regulations are aimed at the rapidly shifting new-media world and how advertisers are using bloggers and social media sites like Facebook and Twitter to pitch their wares."

The Internet is one of those revolutions that happen and change lives.
And they would be a good thing, if they didn’t change the economical world.
I consider myself the average consumer of the civilized world.
I do my shopping 90% online.
I still buy fresh eggs and meat and vegetable and fruit.
But that is all.
I spend an average of one hour a day just looking what is “going on” on the market place.
I know the latest products, their price, their low and high.
I know now where to buy and where to sell.
I am like one of those guys in Wall Street.
I know where fur coats are cheap and where they are expensive.
I buy from one and sell to the other.
I have feeling of what people will be looking for and what they won’t, I know when is the right moment to sell and the right one to buy.
I guess I know about marketing much more than many marketing guys.
I do not need to watch TV, except for the News, I find it quite boring and old style.
There are bloggers and writers ten times more interesting and stimulating.
If I want to know about what is going on in TV, I look at the best of this and the best of that on Youtube.

I understand ALL this is kind of scaring for the old style, old world economy.
They do not know how to cope with this new consumer.
He is much smarter than what he used to be, he doesn’t believe in the white whiter, doesn’t ´t like the usual boring TV programs.
The outcome?
There was a merchant who produced very good quality shirts.
But he was a small one, and the bigger producers, who sold less quality, but better promoted shirts, were the ones who had the market’s monopoly.
Then the Internet was born.
Marketing got much cheaper and his sales grew exponentially.
And since people buy a certain number of shirts, if they buy from x, they won’t from y.
May be a small producer of revolutionary bulbs finds a few bloggers writing about them (and pays them nothing compared to TV advertising) and sells more and more.

If the old world thinks that putting new rules will change the situation, they are terribly wrong.

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