Coke would do well to remember history. Chevrolet, small by comparison to Ford, invested heavily in the new medium of radio advertising, increasing its budget even through the Great Depression. By 1931, Chevrolets outsold Fords. The Internet, with its immediacy and ability to allow for engagement, has already earned a seat at the table. I'll continue to watch and report as these giants experiment with mobile apps and other emerging new media.
This work is the opinion of the columnist and in no way reflects the opinion of ABC News.
Larry D. Woodard is president and CEO of Graham Stanley Advertising, a full-service advertising agency based in New York City. He is also chairman of the American Association of Advertising Agencies New York Council and the recipient of many prestigious industry awards, including two O'Toole Awards for Agency of the Year, the London International Award, Gold Effie, Telly, Mobius, Addy's and the Cannes Gold Lion. A blogger and a frequent public speaker, Woodard enjoys discussing the intersection of media, politics, entertainment and technology.