The three key forces that are driving the new marketing realities
Marketing management is the process by which the analysis of the process of marketing, the planning related to these processes, the implementation of these processes and the control of the various programs. The marketing management of an organization depends mainly on the designing process of the products and offerings of the company. The needs and desires of the target market where the products are being offered also acts as a factor in the planning of marketing management process (Amado et al. 2017).
The process of marketing management is going through a lot of changes in the recent times. The behaviour of the consumers, their likes and desires are changing. This has resulted in changes in the way by which the organizations communicate with the consumers. This has therefore affected the way by which the marketing plans affect the consumers as well as the organizations (Balmer, Abratt and Kleyn 2016).
The major force that affects the marketing realities in the recent times is the digitization of marketing activities with the use of mobile phones and other gadgets which has changed the marketing environment completely. The focus of the organizations is now changing towards building personal relationships with the consumers and increase brand loyalty as well (Bosomworth 2015).
The transparency in the relationships of the brands with the consumers is another factor that drives the marketing realities in the modern world. The needs and demands of the consumers are increasing more and more which demands more connection of the organization with the consumers. The strong relationship of the brands with the consumers ensures their loyalty towards the brand (Choudhary and Gokarn 2013).
The other important force that affects the marketing environment is the social media connection or digital marketing strategies developed by the company. The social media has the power to make or break any organization in the recent times. The consumers and the organizations can connect with each other with the help of social media. This helps the organizations to detect the desires and the needs of the consumers. In this manner, the company can successfully cater to the requirement of the consumers. Social media has helped in bridging the communication gap between the consumers and the organizations (Kapoor and Si 2014).
Digitization and use of mobile have been increasing in the few years. The marketing environment is being affected a lot by the digitization of the activities related to marketing. This effect is expected to increase more in the future and the brick and mortar business activities are being replaced by the online activities. The increase of online activities and use of mobile phones have also increased the awareness of the consumers in the market. The marketing activities have now become more compatible in nature so that the products and offerings of the organizations can be promoted anytime and anywhere (Llamas and Business 2016).
The behaviour of the consumers have also changed in the recent times and it is expected to go through more and more changes. The consumers have become much more aware about the effects of the products and services. The needs of the consumers are expected to change more in the future. The needs and demands of the consumers are based on the external forces that affect the marketing activities of the organizations (Mackey, Cuomo and Liang 2015). The marketing activities are affected by the political environment and the social culture of the people who are connected to the organizations. The demands of the consumers are different in various places and the organizations need to make different strategies regarding their marketing activities.
The ways by which these forces will change in the future
The social media related forces are expected to affect the marketing environment much more in the future. Social media has enabled the connection between the consumers and the organizations as well. This facilitates the digital marketing strategies of the organization as well. In the modern era of advancing technologies digital marketing or marketing through social media has affected the marketing capabilities of the organizations (Mogre et al. 2017). This has further led to the formation of more strategies related to social media marketing by the organizations. The organizations of the modern era mostly have the connection to their social media pages in the website of the organizations itself. This provides direct link of the customers with companies and they can also provide feedback related to the products and services of the company in the website itself (Rios and Pablo 2014).
- The increase in complexity in the decisions of the consumers regarding purchasing activities will affect the future of marketing related activities of the organizations. The segmentation of the market areas has become more complex and this affects the marketing plans of the organizations (Sridevi and Kumar 2015).
- The other factor that affects the marketing activities of the organizations is the design of the products and communicating with the customers. The connection of the company with the consumers is established with the help of social media and digital marketing platforms.
- The communications with the help of mobile phones are becoming more prevalent nowadays and this has affected the marketing environment. The companies now communicate with their consumers with the help of their mobile devices. In this manner they can build strong relationships with consumers and establish brand loyalty as well (Srinivasan, Bajaj and Bhanot 2016).
- The transparency in the operations of the organizations regulates the relationship of the brand and the consumers. The organizations need to truthful to their consumers regarding the problems in the organizations and the operations as well.
- The other factor that affects marketing is the way by which the marketers try to evaluate their decisions regarding the marketing operations. This analysis has a major effect on the marketing plans and strategies of the organizations (Yadav and Pavlou 2014).
- Digitization has become a major part of the marketing strategy of the organizations in the recent times. The digital team of the organizations has now been integrated with the marketing team.
The brands or products that appeal to the target age group in this case are the mobile phone brands and gadgets as well. The brands which have their presence and appeal in the digital platforms are more appealing to the youth as compared to the brick and mortar business. Some of the brands that appeal to the youth of the country are Ebay and Myer which are online shopping platforms, which is the most attractive area for the youth. Ikea is another brand that attracts the youth in the country with the type of products that they endorse and the customisation of the products as well. Another brand that attracts the targeted customers is the interactive app of Kitkat chocolate bars that enables the customers to interact and customise their chocolate bars. The products or brands which do not have strong digital presence are less attractive for the target group of customers in the country.
Conclusion
The marketing activities of a particular organization are affected by the new trends and processes in the market. The activities related to marketing are going through a lot changes in the recent times. This has led to many alterations in the strategies of the marketers. The digitization of marketing activities has increased the reach of the organizations. The customers are now connected to the organizations with the help of various social media platforms. The products and services of the organizations need to be customised according to the needs of the consumers. The power of consumers has increased due to the digitization process. It can therefore be said that the marketing related activities of the organizations have taken a new shape in the current scenario.
References
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Rios, P.J. and Pablo, J., 2014, May. Trends in Online Marketing and the Disruptive Force of Ignoring Them. In The National Conference on Management and Higher Education(p. 93).
Sridevi, J. and Kumar, K.S., 2015. Emerging trends in online marketing. ICTACT Journal on Management Studies, 1, pp.34-38.
Srinivasan, R., Bajaj, R. and Bhanot, S., 2016. Impact of Social Media Marketing Strategies used by Micro Small and Medium Enterprises (MSMEs) on Customer acquisition and retention. Journal of Business and Management 18 (1): 91, 101.
Yadav, M.S. and Pavlou, P.A., 2014. Marketing in computer-mediated environments: Research synthesis and new directions. Journal of Marketing, 78(1), pp.20-40.
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