It is no surprise that academics and professionals alike are calling for new approaches to marketing, because the old approaches are inadequate to the challenges. New forms of media are showing up all the time. Consumers are faced with a turbo-charged range of choices, and an array of new technology is available to support marketing decisions and programs. According to Phillip Kotler, new marketing requires new financial IT mindsets as well as some additional skills so that systems will better support marketing decisions.
As we continue the drive toward making marketing more accountable and scientific, it is important to look at what has changed and what remains of the old model.While marketers enjoy new media and technology enabled tools, the fundamental marketing model itself has not changed. People and businesses still want useful products and services and relevant and entertaining messages. Marketing is still about identifying needs so that people line up to buy. The change is in how consumers learn about products and services and receive the messages. We are entering a ‘post-mass media’ marketing world.
Consumers have new tools, too.
Consumers have always wanted to avoid poor or overpriced products and intrusive messages, but now they are empowered to act on those feelings in unprecedented ways. These consumer-empowering technologies promise to eliminate the concept of ‘mass markets’ once and for all. Proof is everywhere, from declining audiences across most media, to the penetration of TIVO and the explosion of DVD sales – of TV shows no less!
- 11 Branding And Marketing Trends For 2011: Branding Strategy Insider (digitalassetmanagement.org.uk)
- The Evolution of Advertising Strategy (digitalassetmanagement.org.uk)
- 131 different kinds of marketing (digitalassetmanagement.org.uk)
- The New Rules of Branding Your Business Online (digitalassetmanagement.org.uk)
- Your Brand is Now Mostly Digital (digitalassetmanagement.org.uk)