Future of Marketing: Recent Trends, Emerging Issues & Future Outlook | XXXXX | St. Petersburg College |
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Marketing is all about the promotion of goods and services and as the options and outlets for doing so evolve so too does the way the marketer must look at their methods. This paper will discuss the impact of technology, content, the internet, co-marketing, product value, discounts and networking.
The most recent trend in marketing is digital marketing. While companies continue to print advertising digital media can easily be updated with changing developments. If a company wants to communicate with their customers about a new product, new features or new ways to use the product, digital marketing is the way to do it. A
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Focusing on one area instead of trying to offer too many products is becoming a more effective way to market. Companies will start finding niches and then position themselves as the definitive source of information for specific products and services (Gunelius, 2010). When marketing too many products it is easy to dilute the market as well as the benefits of each product. When features overlap consumers not only get confused as to the differences but ultimately pick the cheaper one. So the costs to market the higher priced items become a waste. Focusing on fewer products allows for a more valuable product and therefore more effective marketing techniques.
Product information will come from outside the source and be shared between consumers. Consumers will post positive and negative feedback about products and companies and other consumers, total strangers, will value those opinions. Businesses must really understand their market and customers so as to facilitate only positive feedback.
Starting this year performance marketing will focus on the user and the content together. Currently the focus is one either the user through behavioral targeting or the content through contextual ads. The two will start to be used together to offer more intelligent, relevant manner.
Companies are starting to make their online advertisements a game (Mynewsdesk, 2011). In this way customers are drawn to the companies’ advertising by playing fun games. BMW
| * A need to have a certain product * Consumers will search until that product is found * Need products that stand out from others * Customers have problems making decision so the company will have to try to make that decision easier for them
People are connected more by social media and marketing executives have taken notice. The innovation in technology online and through television has increased. Today, people use the internet for shopping using various tools such as laptop and iPhones. We are in the new age of marketing where people are connected via social media and business is trended online. Thus, the innovation in interactive television and online services has expanded the strategies and tactics. This is so because more and more people are using internet for shopping, taking the purchase decisions via range of tools such as laptops, tablets, mobile phones, etc. Throughout
Marketing has evolved through a change in production and consumption due to the advent of new technology (Ranchhod, 2004). The development of technology has also driven the globalisation of communication. During this period, consumers are facing a variety of choices (Jackson and Shaw, 2009). Thus, companies need to actively embrace these changing factors to grow their business and succeed in the marketplace.
As a result of all this, companies are trying to evolve and adapt their services and product to the online field, migrating from a traditional marketing to a digital strategy. But the question is how internet marketers fight all this shifts and changes of the internet. They must try to use the tools that online field offers as webpages or social networks to succeed in
| The articles show that there is a wider acceptance and adoption of new media over traditional media because the world is becoming more digital by the day. Though there is still the existence of traditional IMC tools, the way marketers choose to communicate with consumers is leaning towards digital, and they are more welcoming to this change.
Advertising began to take form in the 1950 's and the 1960’s as the age of modern marketing began to rise. In the 1960 's, great economic changes took place the influenced how the marketers in large agencies advertising products to the general public. Beginning with the creative revolution, modern marketing formed itself to cater both the changing economy and the general public. Many companies followed the trend of branding, which is forming a distinction between two similar products produced by separate companies, to maintain the competitive edge. This caused advertising agencies, such as J. Walter Thompson and Doyle Dane Bernbach, to adapt new forms of advertising that included the greater use of commercials and the introduction of various company spokes characters. While modern marketing had its beginning in the 1950 's, the 1960 's were a pivotal decade in modern marketing because the changing economy, social conditions, and war efforts caused advertising agencies to generate different advertising campaigns that targeted various demographics as well as methods that are still in practice by advertising agencies in today 's market.
Marketing is a hugely vital tool for any organisation. A department that needs to be run and managed successfully, Marketers need to be extremely vigilant and aware of the constant changes in technology and the different ways that consumers will use various new technology’s to gain information on products. A range of elements will be discussed such as the internet, e-mail marketing and iTV marketing. With the use of online research and reference books to help to consider how new technology is changing marketing in the 21st century.
In the simplest terms, digital marketing is using electronic media to promote products or brands. Digital marketing is different than traditional marketing in that it involves the use of methods and channels that enable an organization to examine marketing campaigns and comprehend what is working and what isn’t – normally in real time.
A Problem that has been associated with the concept of the product is that it can also lead to marketing myopia. Therefore, companies should take innovations and features seriously and provide only which the customer’s needs. The customer needs should be given priority.
Many approaches has been deliver one message to buyers across an company promotions, that may contain all types of media they are TV, radio, internet and mobile phones. Changes in communication technology and immediate access to data through tools such as the internet explain one of the reasons why marketing communications become so important. Now a day’s business workers, employees, consumers used to get the information and connect to other people and business are through phone and internet. The social and working places are changing, with lot of people having essential offices and texting on their phones or communicating through social media networks. Text messaging, internet phones, blogs are the ways consumers use to communicate to change the way companies doing business and their customers, for this companies realized to change their promotional strategies as well to reach specific audience. Advertisements on Face book are becoming more popular as business explores social media. Industries with marketing departments are depending on digital technology for managing content, reaching market goals, and organizing marketing research with the help of analytics. Digital technology becomes increasingly critical to the functions of marketing and customer service. Without an appropriate digital environment for conducting business, customers and clients may turned for making purchasing or hiring company’s services. Digital advertising will
Global markets: goods and services for global marketplace. They have to decide which country to enter, how to enter, has to have a fit the cultural practices etc.
Can you name the various examples of digital marketing available in 2017? Would you believe it if I tell you that there are more than five digital marketing tools available? Yes, there are more than five digital marketing tools that can be used in business to reach its customers locally and worldwide. The concept of digital marketing is broad and is the phrase most commonly used today. It brings together all forms of marketing and operating by electronic devices (i.e., on mobile and onscreen). However, digital marketing is used to build awareness and to advertise a brand or goods online using all available digital channels. The following are some of the most popular
But the trends in advertising are changing over time. The competition is going tough day by day. Thus, marketers are trying to find out more effective ways to reach
First, the company’s products need further marketing in order to increase its popularity. As is known to all, the current economic development is highly influenced by Internet technology. More and more companies nowadays choose to establish their e-commerce model to expand market and reduce business cost. In particular, technological advancements such as social media and information technology are increasingly utilized in business marketing strategies. But the company does not yet have relevant channels; its official website is mainly about corporate and product introduction. It is suggested that the company may establish its own electronic booking system and digital payment in its online shops, make use of online distribution channels to save cost, and apply smartphone apps to increase its interaction with customers.
Since the invention of the Internet, and it’s global popularity, the Internet has become an essential resource for companies trying to market their product or service. With consumers attached to their smart phones and other electronics, the Internet, and apps on various devices the controlling platforms for marketing. With the speed of the Internet and its availability to many people, it is the most effective way of marketing. The Internet has strengthened the relationship between marketers and customer.