The idea of marketing has now changed radically. Once upon a time there were attempts to sell a product but now there are attempts to establish a lasting relationship with the customer.
Production and marketing are two of the most important aspects of a business. Until now marketing was meant to be sold but marketing is a much wider concept than selling. The last two decades of the 20th century have seen the following changes in marketing, which even older ‘sales-oriented’ companies (those who consider sales as marketing) can take advantage of. Can benefit by changing their own system. These changes are briefly presented below. Each of the following changes requires a separate discussion.
From mass marketing to ‘customized’ marketing
The era of bulk production and standardized sales of standard products has come to an end as now the computer driven system gives you many kinds of flexibility in production. You can modify your products according to the different needs of the customer groups.
It is thus becoming special in the car, textile and fashion industries.
Cyberspace marketing from geographic markets
The massive geographical markets that have emerged from the bricks i.e. brick-cement will continue but now a lot of sales are done through ‘click’ i.e. on the internet as well as through telemarketing. No special evidence is required for this. Now even the common people order many of their favorite things by ‘clicking’ on the computer or mobile. Many people living in the city are using home delivery food delivery service. As well as many people now order a variety of products through telemarketing. In the future, ‘Brick’ shops and market centers will continue, but at the same time, sales on ‘click’ marketing will increase a lot. Internet banking, which was not possible forty years ago, is now becoming ubiquitous.
Ownership of the brand from ownership of the property
In today’s high-tech companies, their ‘brand’ ownership is becoming more and more profitable than their physical assets. Every company is constantly striving to increase its ‘brand equity’. E.g. It is difficult to assess the value of ‘Apple’ or Sony or Toyota brands. It could be billions of dollars.
Towards relationship marketing
Transaction marketing is just marketing of transactions. We gave you the product and you paid for it so the transaction was settled and the matter was settled. Instead of such superficial transactions, today’s marketing seeks to build customer loyalty and build lifelong relationships where the customer buys the company’s goods for a lifetime. The idea that until now was limited to ‘customer satisfaction’ has now turned into a company-customer lifetime relationship. Does it mean that the company does not want to leave the customer for the rest of his life in the same way that a husband and wife want a lifelong love for each other?
From market share to mind share
Here ‘share’ means share. The company constantly strives to know and increase its total market share. E.g. If the company has a market share of 30%, it wants to increase it to 50%. Today’s companies want to maximize their market share in the minds of consumers. E.g. If Coca-Cola products occupy the brain, Pepsi-Cola worries about how to reduce the effect of Coca-Cola on the consumer’s brain and increase the effect of Pepsi-Cola. This is why companies use techniques from the latest cycles in advertising that neither the customer nor the potential customer is aware of.
Multichannel marketing
The company sells its goods to the dealer, the dealer sells to the retailer, the retailer sells to the customer. This standard distribution system has been in place for thousands of years. Now with the proliferation of cyberspace companies are selling their products through a variety of channels. In addition, various systems or independent units are set up for the sale of goods. In addition, the flow of direct marketing to the consumer without the hassle of a seller has also increased.
Consumer-centric marketing
Companies that specialize in marketing now focus on the product and appreciate it, but they also create products with the customer at the center so that the customer falls in love with the company’s products. In this approach, in addition to the needs of the customer, his mentality (gamma anagama) is studied in depth.
The whole company is engaged in marketing
Some companies around the world have developed a company culture in which marketing is done not only by the marketing department but also by the entire staff of the company through their manners, working style, colloquial language, dress, cleanliness, warm welcome to customers, etc. E.g. The behavior of some of the world’s hotel staff, staff uniforms, staff manners, and staff’s passion for providing convenience to customers are so great that the entire staff does advertising work for the hotel. COURTESY GUJARAT SAMACHAR 02012021 DHAVAL MEHTA MANAGEMENT
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