This is part 2 in two part series. Check first part on shifting marketing trends in the 21st century.
In this part, you will find 10 steps for analyzing your marketing tools and strategies to match to the gennex approach.
1. Virtual Marketing
Everything can be sold on the Net. With visionaries we will soon find villages connected to computer networks. No marketer can afford to ignore this medium. Most of the people who surf the net for fun are not computer literate but still do have purchasing power.
2. Standard of Living to Quality of Living
Earlier it was very important to acquire a car, TV, fridge, mobile and a washing machine for the house. All these add to the physical comforts. But after getting all these people look for improvements in the quality of their living. Spiritual pursuit, travelling, indulging, splurging and universal interaction are things that really interest who have attained a standard of living.
3. Innovation is central to Marketing
Innovation is the life blood of Marketing. Creative ideas are valuable but the greater part is harnessing them to profitable productive change. Consumers like what they have but also crave change. The word “New, Improved, Better” can influence the customer preference.
4. Emphasis on Personal Selling
Now personal selling is an organic part of the business fuelling not only customer relationships but stimulating the marketing functions with feedback from the market. Network marketing firms such as Amway, Tupperware etc. are using organized personal selling efforts in very innovative manner.
5. Retailing: The new marketing Mantra
Retailing as an arm of marketing is the final point of fruition for all marketing activities. The modern trade has now six types of retail formats like supermarkets, department stores, discount stores, and convenience store, hypermarket & health / pharmacy chains. Big bazzars, Srs value, Food bazaars, hypermarkets are by no means are to be ignored.
6. Get closer to the customers
Getting close to the consumers is no longer a management jargon but a reality and a survival strategy in the times of tough competition. All the touch points with customer i.e. pre purchase, during the purchase and post purchase need to be carefully handled to satisfy customer expectations.
7. Emancipation of Women
Women are now gaining their rightful place in society. This is going to lead to greater demand for products like beauty-aids, heat-and-eat stuff, healthcare and fitness for women, which could be exploited by marketers in the new millennium. Now women are more net-savvy than men.
8. E – Business Center
Education is one big business that cannot be ignored by marketers; it is not just the primary education, but the life-long education that is getting delivered more and more through the net which allows the learner to plan his course at his pace and have a one-to-one interaction with instructors through e-mail. Eventually education will become guru centric from the current institute-centric mode.
9. Soul selling
Even with all the material comforts, people have a sense of loneliness and certain hollowness inside; this is where soul selling comes to play. There are powerful preachers who come on the Radio, TV and Internet and appeal to your soul, of course in return for a donation. Religion as big business and is expected to grow further in future. If you can’t be a preacher, sponsor a preacher to sell your products. Joyce Meyer and friends have done lot of work in Hyderabad etc.
10. Rural Migration
With comforts, communication and connectivity made available in the rural areas why would anyone want to live in the congested, unhygienic and polluted big cities. Companies selling farmhouses and plantations exploit this desire for the green rural environment, with connectivity established through satellites; rural area will become attractive locales for ever setting up of business organizations.
“Business is the creation of its customers” but in the present business scenario creating customers in not the end point, but more & more companies are striving for retaining them & convert them as their advocates, marketing strategies play an important role in this regard. Get your advocates ready.
All the best.