Marketing Strategies for the New Economy
Authors: Lars Tvede, Peter Ohnemus
Venue:  (2000)

:Two men meet a big bear in the forest. One of them sits down to put on his running shoes. The other looks at him and says: "It's no use. You cannot outrun a bear anyway". The first one answers: "I don't have to outrun the bear. I just have to outrun you."Speed against competitors is just one of the key lessons outlined in this new book from Lars Tvede and Peter Ohnemus. E-business is here for good and people are waking up to the fact that traditional marketing techniques may not stand up to new requirements set out by the 'new economy'. The question is, "which of the traditional techniques still work, and which techniques need to be revamped?" The authors outline marketing strategies that use traditional methods where appropriate but, where required, introduce new techniques. These techniques are part of a new, distinctive school of thought in marketing  the 'Digital School of Marketing'. Traditional marketing schools, for example, have observed the importance of moving fast  in the Digital School fast is not just important, it is crucial: It took Microsoft 10 years to reach 100 million dollars in revenue, AOL spent nine years, Yahoo! spent five years, Onsale four, Amazon three, and Priceline spent just one and a half years reaching 100 million dollars in revenue. Speed is just one of the key lessons to learn from this book. Whether you are an entrepreneur out there on your own or a marketer in a large company, read on to discover how you can temper your marketing strategies to bring them in line with what is required today. Enjoy the race! In creating the 'Digital School of Marketing' Lars Tvede and Peter Ohnemus track the various schools of thought that the field of marketing has witnessed in a commercial and industrialised society since it became recognised as a subject in 1902. They demonstrate that much of the teaching from these schools is still relevant but some aspects of the new economy are truly different and these need strategies that have rarely been practiced before. Leading thinkers such as Robert Metcalf, Brian Arthur and Geoffrey Moore could be members of the Digital School and the authors chart their contribution to the types of strategies that will come into being in the new economy. Many of the strategies outlined in this book come from different vantage points than those in traditional marketing strategies. One of the key lessons from the book is based on the traditional concept that the marketing discipline is ultimately the allocation of corporate resource in the pursuit of value - in the new economy you must define the value strategy your company is pursuing before you discuss the marketing parameters. Many more examples of this nature unfold in this book. There is a wealth of knowledge to be learnt in the advice put forward by the authors. Lars Tvede holds a masters degree in engineering and a bachelors degree in international commerce. He spent 11 years in investment banking before moving to the high tech and telecommunications industries in the mid 1990s. In 1996 he co-founded The Fantastic Corporation, a broadband software company that was taken public on the Frankfurt Stock Exchange by Goldman Sachs less than three years after its foundation. He has also been a seed investor in other succsssful high tech/new media start-ups, and sits on the board of several of these. Previous book titles written by Tvede include: International Marketing Planning, The Psychology of Finance, Business Cycles - from John Law to the Internet Boom and Data Broadcasting - the Technology and the Business. He is a frequent speaker at international congresses on broadband, new media and convergence. Peter Ohnemus is one of Europe's most successful new economy entrepreneurs. He has been part of four different start-ups that made their way to the IPO  COS, Sybase, Logic Works and The Fantastic Corporation, where he is co-founder and Vice Chairman. He also works closely with standards bodies, universities and research institutes around the world to drive the development of broadband multimedia. In 1999 he was awarded 'Entrepreneur of the Year' of Switzerland. He is a frequent commentator in trade and business press as well as on television. He currently sits on various boards, including Rothschilds Bank, CommerceOne, Go4Equity, Remote-I, MediaGateway and Fantastic.