Given the relentless march of progress and history itself, businessmen have to always be ready to react to new developments. Heyer spoke of such things years past, almost as though he could see the future with inhuman clarity. Perhaps his most memorable words on them were given in 2003, during a notable address of his peers.
Steve Heyer is a person of great importance in the business world, not least because he is one of the chiefs of Starwood Hotels. Heyer's speech given some years ago was expanded on later, during his interviews. Heyer's stated goal was the marketing of amusement, as opposed to the marketing of lodgings in the hotels.
Experiential value is of prime importance here. Memorable experiences, in other words, would be the products. Marketing in this manner was new back then, and quite an original concept.
Another of the points he made was that businesses had to face a powerful trend towards customization in goods and services. Interestingly, this too has proven true. This is most patent in digital products.
Nowadays, various businesses in media are in trouble because of the changes in technology. For example, musicians saw a sharp decline in profits following the rise of MP3 distribution sites. Suddenly no-one wanted to pay for songs any longer, opting instead to get them free, off the Net.
There was pandemonium in the song-production business, Heyer noted. In his 2003 speech, the CEO turned to music executives and reminded them of the changing ways of producing and reproducing music due to the empowerment of consumers. He also addressed TV executives and warned them to prepare and adapt to “the changing media consumption habits of younger generations”.
To him, the postmodern cultural product was what made sense, where consumers bought because they wanted the culture. The idea behind the marketing for Heyer's hotels company is now that of entertainment that cannot be found elsewhere. Heyer's intent, obviously, is to market something that is even more in demand than lodging in the present culture: an experience.
The company has called in a rather unorthodox business associate: a famous lingerie brand known all over the world for its couture lingerie fashion shows. The Victoria's Secret shows command a good bit of attention, and only select guests of the hotels are allowed. Here we see the application of Heyer's concepts.
Steve Heyer has also made negative remarks about a growing trend in the LA film industry: the insertion of brands in random shots. This is a meaningless practice, in Heyer's opinion. He also said this practice neither improves storylines nor enhances marketability of products.
In the past, Steve Heyer CEO was a chief executive for the company that makes Coke. It was during his work then that he showed what he meant by smart and relevant brand appearance in a video shot. Heyer set Coke glasses on the judging table of a famous talent show on television.
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