I am sharing some data that caught my attention and is related to our work in digital marketing. But first…
The definition of Orange Economy
Conceptualizing the orange economy has not been easy. Many organizations and institutions have developed their own concept, some of which are even antagonistic. The book presents a common area in which the following are found:
Creativity, arts and culture as raw materials.
Relationship to intellectual property rights. In particular, copyright.
Direct role in a creative value chain.
A practical definition of Orange Economy can be:
It is the set of activities that, in a chained manner, allow ideas to be transformed into cultural goods and services, the value of which is determined by their intellectual property content. The orange universe is made up of: i) the Cultural Economy and the Creative Industries, at the intersection of which are the Conventional Cultural Industries; and ii) the areas of support for creativity.
Why Orange?
In different cultures around the world, the colour orange is often associated with culture, creativity and identity. For example, for the Tupac Katari in Peru, it is the colour of society and culture. To give it the identity it needs, the authors wanted to label the concept as the Orange Economy.
Economy and Culture
Traditionally, the relationship between economy and culture is often approached in an antagonistic manner (when in reality they are two sides of the same coin). One is the abstract representation of its symbolic value. The other is its quantitatively precise validation.
We usually only see one side at a time, limiting our ability to understand the close relationship between economy and culture . That the currency itself is one of the most palpable creations of both. Because a currency represents a culture, but also its economy. So we can conclude that economy and culture are complementary, and they meet in their differences, creating and taking advantage of new opportunities.
The numbers of the orange economy
Just as it happened with the industrial revolution, the opportunities of the orange economy are presented —exponentially— with the so-called digital revolution. Digital content is to the orange economy what the television, the radio or an iron were to the industrial revolution.
Content such as music, movies, video gambling data taiwan games are presented to the market on multiple platforms and channels . The ease with which new players (developers, entrepreneurs, business owners) can bring their products to market with increasing diversity and adaptability has created a virtuous cycle of social and economic changes, leading to greater general well-being in our connected society.
orange economy
Source: The Orange Economy: An Endless Opportunity. Page 96
If the Orange Economy were a country in the world, it would be: the fourth largest economy, expressed in trillions of dollars.
orange economy americas
If the Orange Economy were a country in the Americas, it would be: the third largest economy, expressed in trillions of dollars.
orange economy exports
If the Orange Economy were a country in the Americas, it would be: the seventh largest source of exports of goods and services, expressed in billions of dollars.
The numbers and other graphs of the orange economy are very eloquent.
The opportunities of the orange economy and digital marketing
The orange economy has undoubtedly benefited most from the rise of information and communication technologies . Bringing a product or service to market today is much simpler than before, although not risk-free. But it is innovation and the transition to mind-made — rather than manufactured — where opportunities are amplified.
According to the McKinsey Global Institute, these are some disruptive technologies that will transform life, business and the global economy by 2025:
Mobile Internet
Automation of knowledge work
Internet of Things
Cloud technology
Advanced robotics
Autonomous and quasi-autonomous vehicles
Next generation genomics
Energy storage
3D printing
Advanced materials
Advanced oil and gas exploration and recovery
Renewable energy
In bold are the six disruptive technologies that have the most direct and symbiotic relationship with the Orange Economy . They are technologies that are foreign to culture. Although history has shown that the intrinsic need to appropriate, differentiate and personalize ends up involving the most curious artists and creatives in experimentation and innovation.
The demand for products and services develops from enjoyment . The individual naturally validates the symbolic utility of what he or she “appropriates.” It is in him or her that the content lives. People access content, consuming goods and services, through different windows (commercial or not). Television, radio, newspapers, magazines, public transport, YouTube, Netflix, festivals, bars, etc.
These windows are access points that people come to, either by chance or because their preferences have been informed:
For marketing (from the simplest to the most sophisticated like Inbound Marketing)
and by critics (both amateur and specialist). Instances that can contribute a lot and even be necessary, but the final point is the so-called "word of mouth". Amplified today by internet searches , social networks , smartphones and collaborative technologies in general.
This is why digital marketing is a powerful tool to make products and services flow through an economy that is naturally creative and connected. And when combined with methodologies such as design thinking , they will promote sustainable wealth in the region without precedent.
If you want to download the book “The Orange Economy: An Infinite Opportunity” we share it with you at this link hoping that you will also enjoy it as much as we do.
Now it's your turn!
How prepared are you to develop your idea, project or business in the orange economy proposal? There are certainly challenges, but the opportunities can be truly endless, considering variables such as talent, information, the value of money, creativity, the entrepreneurial environment and inspiration.
