It was management consultant, Peter Drucker, who advised that “the best way to predict the future was to create it.” Creating new things being difficult, the next best way is to have access to validated and predictive loyalty and emotional engagement metrics to help point the way. Marketers should follow critical trends to create their own, successful futures in Marketing.
What is Marketing?
Marketing is basically the process of planning and executing the concept of pricing, promotion and distribution of ideas, goods and services to create exchanges to satisfy individuals and organizational goals.
A brutally competitive marketing in India is evolving faster than ever before and though technology plays a major role in this development, it isn’t the only one. The other reason for this fast paced evolution is that market and customers are changing in their priority, expectations and aspirations. The change in lifestyle has played its part in evolving the market too.
Trends in Marketing
Trends in marketing have generally been flexible according to the consumer’s choices along with social and cultural position. Trends that were popular say five years ago, may not work now. Today the new generation of brand-loving consumers has shaped the current trend in marketing. To survive in this field where there is an ever increasing number of options for the buyer, a good marketing manager has to be aware of the on-going trends and be able to devise innovative marketing strategies to hook the buyer.
The current trend has social media written all over it. The digital platform has made an array of options available and is more economic friendly. Giving a whole new meaning to marketing, social media does not seem to have any boundaries. Brand marketing and digital budgets are fusing as teams work jointly and cross-silo. Multi-platform traditional and digital models now require social media integration into all marketing efforts, including customer experience, design, sales, and product development.
Content marketing is a specialty unto itself and helps brands distinguish the difference between paid, owned and earned media, more important when it comes to dealing with contextual relevance and strategically navigating brands in digital space. Digital marketing has no boundaries. It encompasses devices such as smartphones, tablets, laptops, game consoles, televisions, digital billboards, and media such as social media, SEO (search engine optimization), videos, content, email, newsletters and lots more. There is therefore, an increasing shift toward consumer engagement with social media, content creation and content sharing.
Marketing management is an ever growing and ever evolving phenomenon. Fluctuating trends makes it one of most dynamic fields.
Peter Drucker advises: “If companies want to do something new, they have to stop doing something old.” He suggests: “Break away from old habits, embrace new methods of brand engagement and brand marketing to create new and profitable futures.”
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