Marketing Trend Introduction
Companies of today must respond to change to survive the future. Change is inevitable-growth is optional. Change forces all business owners to adapt, adjust and be energetic in building their businesses. After all, there are only three things a company can do with change: ignore it, adapt to it or embrace it. By focusing on new ways of doing things, a company can revitalize their business. In particular, marketing in new ways and with different strategies not only simulates new business, but also gives a company a new vision on productivity.
Advertising
Companies will need to use their resources wisely as technologies and quick markets will leave companies trying to find their way to the
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Keeping abreast of trends in marketing (i.e. electronic communication, direct mail and response, telemarketing) also is important.
As an independent business person I have used educational means to stay adept to new technologies as well as keep the quality of my work more personalized. My philosophy is based on quality and not quantity and has worked and if business forces me to expand I have the ability to change and hire individuals with the same attributes to serve my customers.
Technological Market
Companies have to adapt, adjust and embrace new technologies. From order entry to presentations, confirmations to specifications, sales tracking to sales training-automation and computerization are keys to success. This is important to gaining more information, such as contacts and leads. Successful companies constantly are working to make operations more efficient. On-line marketing and communication also are vital. Being online might not produce the kinds of leads and sales results that alternative strategies might, but it can be an opportunity for gaining information, such as specifications and market conditions.
Especially with the cost involved with marketing and getting the product or service to the consumer is being reduced significantly by technology. This is opening the market to more competition and reduced prices because distribution
New technologies offer services and products that otherwise would be too difficult, costly, or time-consuming and the Internet allows traditional competitors to introduce new products and services and lure customers away. It helps a lot in cost saving.
During these times of change business may have to change its orgainsation, operation and its nature to deal with the challenges of each stage in the business life cycle. For business to be successful they must constantly develop and change strategies to deal with the growth of the business or the life of the business may be cut short.
Businesses are facing a dichotomy between wanting to chalk out an all-time structure and strategy for their organization, and recognizing that their world is in a constant state of flux [3]. For most of the 20th century they were largely focused on the static elements of this dichotomy. However, in the last decade changes have become more frequent and more dramatic, so much so that a whole branch of management is now devoted to the subject of change itself.
In today's marketing era in order to remain in business the organization has to adjust to change in society. The businesses who survive are the ones who can adapt and stay caught up with society's constant demand of new, better and faster mindsets. Coupled with a business being able to think smart and fast, knowing that there is constant change and being able to not only be on the same page but always a step
In this ever-changing modern day business environment, organizations should always be ready to adapt to the ever-changing concepts and customers’ needs. Both internal and external factors influence the kinds of changes that take place in any business or organization. As of the complex adaptive systems, in order to keep up with the constant upcoming changes, they need to keep on revising their goals and objectives. They can do this by assimilating to any current changes present in society.
Any business in today's fast-moving environment that is looking for the pace of change to slow is likely to be sorely disappointed. In fact, businesses should embrace change (Richards, 2012). Change is important for any organization because, without it, businesses would likely lose their competitive edge and fail to meet the needs of what most hope to be a growing base of loyal customers.
Businesses continually adapt to a changing environment to maintain their market position (Appelbaum, Habashy, Malo, & Shafiq, 2012; Biedenbacha & Soumlderholma, 2008). Change is inevitable considering the current rate of technological advancement and the growth in global competition (Appelbaum et al., 2012; Armenakis & Harris, 2009; By, 2007). Increasing competition and the need for strategic flexibility and globalization is affecting almost every organization today, regardless of size, market, focus, and so on (Jaros, 2010).
Marketing has become more and more important, especially as the purposes of marketing expanded into performing marketing researches. Through marketing researches, it is asserted that marketing starts with a real customer need. Classic marketing, has, nonetheless, focused on making the need that will draw customers, and this stresses the advertising power of marketing (Woodall 2007, p.1284). This is also called the sales concept of marketing (Woodall 2007, p.1285). An example is how advertising lures people into buying a brand, because of the
Other companies also address the online environment. The great potential and the numerous advantages of doing business on the Internet have appealed many companies. The online environment allows these companies to reach a larger number
When discussing adapting to change management the organization must consider implementation of core competencies that are new and innovative. These challenges faced by the organizations require agility and a shift in strategic congruence that strengthens market adaptation. As business strategies transition, capabilities within functional departments must evolve as operational strategies are implemented.
Change has become necessary for every organisation there is. World is moving rapidly towards better technologies, efficient systems, new techniques, compact profits, different friendlier environments and organisations are always in the race to reach new heights by thriving effectively in this competitive environment (Kotter, 1996).
In this case, the ability to adapt to the constantly changing environment and establish new strategical approaches to innovation will help the company stay competitive on the market.
Change in a business is inevitable and typically only the strongest thrive. With a fluctuating economy and constant technological advancements, organizations are expected to adapt in order to survive. When a business is posed with an issue or change, it must develop new business and strategy structures and implements those developments throughout the entire company. Communication, education and participation are all required for a change model to be successful. Though change and adaptation may be needed to better the company, with implementation of change comes resistance. Most companies face resistance on an organizational and individual level during a transition. However, it is how the company is able to overcome
Changing situations throughout the world affect all organizations in business today. Therefore, most organizations acknowledge the need to experience change and transformation in order to survive. The key challenges companies face are due to the advancements in technology, the social environment caused by globalization, the pace of competition, and the demands regarding customer expectations. It is difficult to overcome the obstacles involved with change despite all the articles, books, and publications devoted to the topic. People are naturally resistant to fundamental changes and often intimidated by the process; the old traditional patterns and methods are no longer effective.
For any business in the rapidly evolving world of business, planning and implementing successful organizational change is indispensable. Essentially, organizational change refers to a process whereby an organization strives to optimize performance in order to achieve its ideal state characterized by high performance and profitability (Côté & Mayhew, 2014). Any business would be more likely to lose its competitive edge, as well as fail to meet the demands of its loyal consumers if it doesn’t plan and implement change. Weiss (2012) emphasizes that all organizations ought to embrace change, and it’s imperative to note that successful organizational change doesn’t involve simple process of adjustments; instead it requires appropriate change management capabilities.