Information as a Public Good in Marketing

(Davis, 2009)

A public good is something that everyone can access, “…a term used by economists to refer to a product (i.e. a good or service) of which anyone can consume as much as desired without reducing the amount available for others” (The Linux Information Project, 2006).  One of the most interesting examples of a public good is knowledge, which can also tie into the concept of collective intelligence.  A private good is one that has restrictions and limitations, and consumption by one reduces the available amount for others.  Previously, knowledge could also be seen as a private good, as “access to information was traditionally locked behind the gates of institutions” (Boyd, 2007).  But now with more of the world becoming online, information is becoming readily available and therefore access to anyone who wishes to share his or her knowledge, “individuals who know something can easily share it, even when they are not formally declared as experts,” (Boyd, 2007).  Information should not be kept hidden, “anyone can use as much as desired without reducing the amount available for everyone else” (The Linux Information Project, 2006).

There are several significant examples of individuals sharing their knowledge, opinions and therefore informing the rest of the world for free.  According to Danah Boyd, “Wikipedia is a fantastic example of how knowledge can be distributed outside of elite institutions.”  Although it is often regarded as an unreliable site by universities and schools alike, the fact that “those with editing skills can help the information become accessible” (Boyd, 2007) who’s to say these people are not credible? 

The Twitter Bird (Judd, 2009)

Another example of sharing information, as a public good is the Public Information and Marketing in Oklahoma City, America.  Information is provided to “help citizens better access and understand city services and policies” (Yager, 2009).  This is done through formal news releases sent via: email, Facebook, Twitter, the citizen newsletter and a television station City Channel 20, which broadcasts public meetings, news programs and interviews.  Wikipedia, although it is non-profit website and generates no income, “since its birth in 2001 it has become one of the most useful and biggest websites on the Internet,” (Heron, 2006), any marketers dream, because awareness for Wikipedia is all over the world.

My desired career will follow the path of marketing, increasingly marketing for businesses and organisations is done online or through a digital medium, similarly, the most common source of public information is online, as “online giving keeps growing” (Houchens, 2007).  Having the product, service or business message online is highly beneficial to a marketer as more demographics and specified target markets can be reached to accessibility ease as, “26 percent, of the worlds population is online,” (Ribeiro, 2010).  “…Marketing is an information tool” (Houchens, 2007) and in order to succeed one must “share relevant information with a relevant audience” (Houchens, 2007).  Ensuring that information is a public good in marketing will be highly beneficial with the growing popularity of social media that businesses are utilizing to get their message across, this can be done through blogs, micro blogs such as Twitter, Facebook and even Youtube. Businesses can ‘connect’ with their target markets and other potentially interested third parties, by posting updates via the various social media platforms and maintain relationships. Internet marketing is another means by which information is a public good through my sought after profession, “it is the business of both advertising and selling goods and services on the internet…and is growing in popularity as millions of people now purchase online,” (Tay, 2007).  Luring customers can be as simple as, “article marketing, blog marketing, email marketing, banner ads, pay per click ads and pop up ads” (Tay, 2007). 

“Often, it is believed that information, if it is not protected, can be stolen and claimed to be another’s,” (Davis, 2009) but a creative commons license can help prevent this, whilst still allowing people to access the information.  “…a creative commons license lets you dictate how others may use your work… and allows you to keep your copyright but allows others to copy and distribute your work provided they give you credit and only on the conditions you specify,” (Webopedia, 2010).  There are four guidelines that information consumers must follow in order to comply with a creative commons license- “attribution, non-commercial, no derivative works and share alike” (Webopedia, 2010) the source also mentions that having a creative commons license, “…allows you to keep your copyright but allow others to copy and distribute your work, provided they give you credit and only on the conditions you specify.”

Overall, is it evident that information is a public good, especially in marketing.  It can be viewed as an integral element in connecting with your target market, which in turn leads to success for a marker.  Social media is continually increasing as a means of getting a businesses message across and raising awareness.  With the current growth rate of Facebook, Twitter and YouTube and so on it is not an option for a business to provide information publically and to go online, it’s a necessity.

Bibliography

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Yager, K. (2009, May 12). Public Information & Marketing Office. Retrieved November 7, 2010 from The City of Oklahoma City: http://www.okc.gov/pim/index.html

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Houchens, C. (2007, March). Selling Good Works -- Marketing a Non-Profit Organization. Retrieved November 6, 2010 from Shotgun Concepts: www.ChrisHouchens.com

Ribeiro, J. (2010, May 25). More than One in Four Use the Internet Worldwide. Retrieved November 7, 2010 from CIO: http://www.cio.com/article/595014/More_Than_One_in_Four_Use_Internet_Worldwide_Says_ITU

Tay, M. (2007, August 18). What is Internet Marketing. Retrieved November 5, 2010 from SlideShare: http://www.slideshare.net/kamarvin4/what-is-internet-marketing

The Linux Information Project, P. (2006, February 16). Public Goods: A Brief Introduction. Retrieved November 6, 2010 from Linfo: http://www.linfo.org/public_good.html