New Age Marketing - Changing Marketing Practices in Changing

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New Age Marketing - Changing Marketing Practices in Changing

#1 Postby PreetiDBE » Tue Apr 07, 2015 9:06 pm

Marketing came into existence even before the inception of currency. Either through drums, pamphlets, bioscopes or through any forgotten media people has been involved in marketing. It is tested many a times but each and every passage through furnace of time, has made it broad, specific and strong.
With the rise of the Internet and, more recently, social media, the discipline of marketing has undergone huge changes. At every step someone is following you. Every term is changing.
The only static term in this dynamic world is “CHANGE”.
Marketing can never remain unexposed to those changes, but surely can fortify itself by adapting and ameliorating as per changing time. Marketing is heading in a direction of agility i.e. conducive adaptability to the changes. Agile methods replace high-level design with frequent redesign. No one product or strategy is considered final, redesigning and consistent improvement is the crux of agile marketing. The mantra of agile marketing is “Get More Done. Adapt to Change. See Measurable Results.”
The goals of Marketing are to improve the speed, predictability, transparency, and adaptability to change of the marketing function.
The excerpt of Sting’s song explains agile marketing lyrically as-
Giant steps are what you take
Walkin’ on the moon
I hope my leg don’t break
Walkin’ on the moon
Rather than taking big abrupt and expensive leaps, adapting to the changes by reshaping and improving is what ultimately will prove economically feasible in long run. These changes are basically led by some small steps because “little drops make the mighty ocean”, so some of these drop are-
Rural marketing, it basically is edging the facets of rustic diamond.
One of the trend setting technique is marketing through missed calls, which originated here.
Rural marketing involves addressing over 700 million potential consumers and over 40 per cent of the Indian middle income. This untapped market, being the bottom of pyramid which depicts 43% of Indian National Income surely has a has huge potential and larger consumption base but the flip side of it acquaints us to some surreal terms to the urban abode such as : underdeveloped markets, inadequate media coverage, irregular income etc. Rural marketing analytics can impel it in right direction and with right thrust. It can enhance the effectiveness of existing strategies and create some ground breaking marketing plans. As the people we are targeting here generally belong to low income group, technique should be such so that it grabs their mind in one go. Baffling and mind boggling techniques have evolved due to this sect of marketing.
Marketing analytics - Expecting the unexpected
An attempt to deal with abrupt and unexpected, often lead us to muddling and expensive route. In the abode of Marketing, unexpected is always expected. Mitigation of the consequences of abrupt change, if not carried efficiently will lead to devastating declines. Thus the role of analytics and forecasting become pivotal. To what extent, analytical forecasting can act as saviour and protect the market from significant profit loss, squandering of valuable resources and obliteration of huge investments? How has analytics helped organizations to move out or bypass such extermination of industries? One such armour is “analytics” which is an area of data mining and processing that deals with extracting information from data and using it to predict future trends and behaviour patterns. The pillar of Walmart’s success-analytics has a deep and uprooting affect in the arena of marketing.

Guerrilla marketing or Big brother of small enterprise. This is the saviour of start-ups in this age of cutting edge competition.
With big business downsizing, decentralization, relaxation of government regulations, affordable technology, and a revolution in consciousness, people around the world are gravitating to small business in huge numbers. But at the same time small business failures are also establishing record numbers and one of the main reasons for the failures is a failure to understand marketing. This is where Guerrilla marketing comes in the picture; it is a marketing strategy in which low-cost, unconventional means are used in a localized fashion to draw attention to an idea, product, or service. It just lets you do what you want i.e. market in minimum cost. J C Lavinson, the father of Guerrilla marketing expresses its need as - “Guerrilla marketing is needed because it gives small businesses a delightfully unfair advantage: certainty in an uncertain world, economy in a high-priced world, simplicity in a complicated world, marketing awareness in a clueless world."

Low cost ticket to considerable market share with minimum resources is the mantra of new age marketing which is the need of hour. With new business swarming in a large number horizontal growth Is a far cry, all one can impel is vertical growth, so the war is on, only weapon you are left with is agile marketing.

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