Defining marketing for new realities
Marketing is not just
about giving information of your product or services through different channels
but building your product or services as per budding consumer, new realities
and market trends. Building a strong USP for your products/ services to capture
user attention and build credibility over the long run.
To attract individuals and especially the young millennial
the new marketing realities are playing the crucial role in their product creation and product
marketing are finding better results in their business numbers. With the fast-changing trends in the market
these three forces are helping in differentiating between the needs and wants
of the prospects
TECHNOLOGY: Rapid growth in E-Commerce helped
firms to provide a lot of information out there for users.
GLOBALIZATION: International expansion in
the markets made counties aware of what’s happening where.
SOCIAL RESPONSIBILITY- New initiatives by the private
sector to upgrade the living conditions of people.
The most debatable topic that “Marketing is an art of selling product” but thanks to Mr. Peter Drucker who gave his theory that “Selling is only the tip of marketing”. With Advent of advanced digital technologies, bringing the unified customer data at the tip of the marketer `s hand, Personalized marketing approaches across channels using dedicated funnels are the new realities of marketing.
According to Kotler, firms are hiring a marketing expert
who can keep an eye on all the aspects of market and bring in required changes/
plans to keep their brand up to the mark to avoid any downfall (year, p.
---). Marketers must follow the new
market and consumer trends bought at the fore by new realities to set up their
marketing plans. More traditional brands are increasing their marketing budgets
over digital media. New Startups based on Budding Consumer trends of meeting
new people like meetup.com, dating like tinder as well as exchanging pictures
via instagram growing absolutely organically by capturing the right user
sentiments and changing their marketing strategies based on New Realities.
After so much of expansion of the markets now we are Marketing almost
everything, events, people, services, goods, ideas, experience, etc.
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BIBLIOGRAPHY
Image reference;
1) Cleverism. (2019). Social Responsibility
& Ethics in Marketing. [online] Available at: https://www.cleverism.com/social-responsibility-ethics-marketing/ [Accessed 28 Sep. 2019].
2) MINING.COM. (2019). What people think of
globalization, by country. [online] Available at: https://www.mining.com/web/people-think-globalization-country/ [Accessed 28 Sep. 2019].
3) Castano, A.
and Castano, A. (2019). 6 Ways to Improve Your Ecommerce Conversions |
Iblesoft Solutions. [online] Iblesoft. Available at: https://blog.iblesoft.com/improve-ecommerce-conversions/ [Accessed 28 Sep.
2019].
4) Quote by Peter Drucker (2019). Pinterest. [online] Pinterest. Available at: https://www.pinterest.com/pin/353673376966306551/?lp=true. [Accessed 8 Nov. 2019].
4) Quote by Peter Drucker (2019). Pinterest. [online] Pinterest. Available at: https://www.pinterest.com/pin/353673376966306551/?lp=true. [Accessed 8 Nov. 2019].
Content Reference;
1) Process
Excellence Network. (2019). Peter Drucker on Sales and Marketing.
[online] Available at: https://www.processexcellencenetwork.com/innovation/columns/peter-drucker-on-sales-and-marketing [Accessed 28 Sep. 2019].
2) Slideshare.net.
(2019). Defining Marketing for the 21st Century - Philip Kotler First
Chapter. [online] Available at: https://www.slideshare.net/raaaiii/defining-marketing-for-the-21st-century-philip-kotler-first-chapter [Accessed 28 Sep. 2019].
3) Book: Kotler
Keller- Marketing Management
a) Chapter1 Defining Marketing for the new
realities
i) Page 26
ii) Page 27
iii) Page 43
