What was so different about marketing today as opposed to the past?
Traditionally, marketing covered a wide array of advertisement channels that we see on our day-to-day basis. They included radio broadcasting advertisement, flyers, television advertisements, poster campaigns, print media advertisement and billboards. These marketing mechanisms are not necessarily out of date, but researchers have it that many companies and organizations have abandoned these forms of marketing and have adopted contemporary marketing channels. This has enabled such companies to increase their sales, traffic to web content and their leads (Carson et al., 2013).
The present or contemporary marketing strategy refers to marketing strategies, which stresses more on the advantages of customer/client orientation as opposed to traditional market orientation. When these strategies are implemented, they give the customers a greater support with a product range that varies according to the needs of the target market desires as opposed to what the wants its customers to have (Areta, 2016).
Contemporary marketing includes the co-creative theory as opposed to traditional marketing strategies. Because in the twenty-first century, customers are technologically literate, companies and organizations are bridging the gap between themselves and the customers through gamification (Carson et al., 2013). This involves attracting customers to their products through social media platforms. These include writing blog posts that contain relevant and meaningful information that explains to their potential customers why they should use the company’s product. Research conducted by the University of Ohio shows that companies that have incorporated co-creative and shared their values and ideas with their potential customers prosper in the long term.
Contemporary marketing also involves the theory of shared values. This theory entails companies that ought to penetrate and offer benefits in the said markets. A good example is the Tesla Company, which has invested billions of dollars in constructing charging stations for electric cars across Asia, Europe, and North America. These stations are being used by different brands of electric cars (Sorenson, 2015).
Where do you see marketing going in the future?
In the future, mobile phones are going to be the center of marketing. This is because the evolution of cellular gadgets has gone to the greater extent of becoming a major factor in the world of marking. Almost everyone owns a cellular gadget ranging from a tablet, an Ipad, a Smartphone to a wearable gadget. In the future, brands will strike more personalized relationships with their potential customers by leveraging the cellular gadgets since the screens are becoming smaller (Areta, 2016).
Transparency will control the brand-customer relationship. Today in the world of marketing, customers are struggling for more engagement with company brands. With time, there will be complete transparency of the company brands. Genuine brands will be rewarded as those brands that will not be transparent to their customers head for a future doom (Sorenson, 2015).
In the future, society will be among the integral parts of “broader marketing discipline. As time goes by, companies are turning to social channels to advertise their goods and products. This will make social the only channel for marketing in future.
Why should we care about consumer behavior and the rapid changes in their behavior?
It is crucial for companies and production organizations to study consumer behaviors and the rapid changes in their behavior. This is because the main reason for the production of any goods and services is to be used by their ultimate consumers. By studying the consumer behavior and their changes, companies will be able to determine the consumer’s flavor and taste changes so as they can be able to manufacture other products that will be able to suit the new likings of their potential customers. These will make them always relevant to the market (Sorenson, Peter, 2015).
As illustrated by Schroeder (2002), studying consumer behavior is a key to achieving the consumer goals. For a business to survive profitably and grow in the current highly competitive market environment, it must be able to point out and meet the needs of the customers. This is enabled by studying the consumer behavior. In this way, a firm can develop relevant marketing programs, through price, promotion, product and distribution decisions.