Marketing involves all the activities done to make known a certain product or service in the market. It combines the four marketing mix which is the product price promotion and place. Marketing is a wide aspect when it comes to any business that intends to make a profit. Without marketing, organizations could suffer loss as a result of existing products or service that is not known in the market. Revolution of marketing has seen changes in the way marketing, as an activity and as an important factor in the organization is conducted. Companies and organization have invested in appropriate marketing strategies to remain top in the competitive world. Small and medium businesses are also investing in appropriate marketing plans to ensure that the products and services gain popularity.
Kimmel, (2005) asserts how marketing has undergone revolution from way back when companies used few mediums of communication to reach out to potential customers. The world is transforming due to technology, and therefore businesses are embracing a new form that comes with transformation. One thing to note about transformations is the positive impact, especially to the business industry. Organizations and big companies are swift in embracing the new trends that will keep the business up to date with the global changes. Marketing, therefore, has not been left behind in the transformations. There are new trends that have elevated marketing and transformed it in a way that companies and organizations are finding it impressive. These trends are in line with technological advancement, such that there is a shift towards embracing electronic marketing and the result are positive that it motivate companies to shift.
Basing on the marketing theories, we are going to analyze the trends that are likely to have a long-term impact in the marketing industry. It is important to note that company or business, will adopt a marketing strategy that will have a long-term impact on its revenue. Therefore the trends should have features that depict positive outcome in the long run.
Digital marketing is one of the trends to have an insight about; it is the form of marketing that encompasses the use of the internet to promote product or services. This form of marketing has integrated technology with marketing theories. People are transforming and shifting towards a revolution that embraces the use of the internet. Digital marketing, therefore, involves using various platforms on the internet to promoting the product. Organizations have invested in this form of marketing, and they have experienced profits. It is not costly compared to marketing through a sales person. The mediums used in digital marketing involve; mobile marketing, social media marketing, use of television to advertise, email marketing and website marketing. These among other forms are used by companies to facilitate the transfer of information from the producer of product and service to the potential customers. The main purpose of using digital forms of marketing is to reach a wide cover of people. Take a look at the social media where people can access information about certain product or service globally.
The future of digital marketing seems promising for most companies that have embraced it. This is because there is a continuous shift towards technology and its impacts. People are transforming from analog to digital, people used mobile phones with no internet access a long time ago, and now they are fond of smartphones, people owned analog televisions, and now they own digital, the same case applies to owning a laptop or a tablet. All these transformations are inclined towards changing from analog to digital. To this effect, businesses and organizations are also experiencing a long-term shift whereby people will be using intent more often than ever. Therefore all the information regarding products and services will be transferred to the internet. Marketing, in this case, will be based on technology. Since marketing is one of the complex factors in business, it will be beneficial to organizations that have invested in digital marketing because they will experience long-term profits. Uses of Facebook, twitter, and youtube have become the most popular platforms for current marketing. Organizations are struggling for a space in the social media to advertise their products and services. This trend has proved to be a long term since technology will never cease to come up with innovation, and people will never get tired of embracing the good that comes with technology (Goldsmith, 2004).
Network marketing is another trend that has seen many organizations experience long-term benefits; marketing by networking involves the aspect of letting the customer transfer information to another customer who will also transfer to another customer. Andreasen, (2006) points out that this form of marketing creates a cycle of customers which will, in the long run, be beneficial to the company. Network marketing is the most affordable form of marketing, and it enhances loyalty among customers. This trend has been used globally through digital platforms. You find that many people prefer referrals than facing a sales person; therefore companies have opted to reward a customer who brings in other more customers. Network marketing has seen the use of social media platforms to pass information or to refer people to use certain products or services, therefore with the continuous embracing of this form of marketing, the future of marketing will be based on referrals, and also there will be a high level of customer loyalty.
It is through networking that products get to reach people globally, companies have invested in strategies that will enable networking to become simple and productive. Take for example the use of emails whereby people will get information or content on particular products. This form of marketing targets the business to business customers. It takes advantage of the fact that social media platforms have enables people to meet and share information and views about anything. Professionals, for example, will meet on LinkedIn and exchange views; therefore network marketing integrates the use of technology and customers to spread information. Whatsapp is another media that has enhanced communication, people will forward contents through WhatsApp, marketing, on the other hand, has embraced the use of this application to enhance networking, information can be shared to individuals or group chats. Videos and gallery of the products and services can, therefore, be forwarded by customers to other customers. This form of marketing is seen to have a long-term positive impact on business as it has embraced the use of technology.
Customer marketing relationship; this is where companies use information from Salesforce tools such as ZOHO to gather data concerning customer trends regarding their purchasing behavior and attitudes. This has seen organizations focus more on customers; with the intention to build a long lasting relationship. When there is a long term relation with customer, the business will enjoy the long-term benefits compared to customers that are not reliable. The focus on the customer has enabled companies always to ensure that customer get the best service and quality products. Also customers, on the other hand, will develop a positive attitude, and hence they will continue using products and services from the same company. Integrating network marketing with customer relationship management is the key aspect in experiencing long-term benefits in business.
Marketing relationship has been used as the basis for establishing a strong line of customers; the marketing teams set strategies and design marketing contents that target specific customers. Marketers have used customer information to customize their marketing strategies.it is important to note that customers have specific needs, they will, therefore, visit websites and various platform to search for products and services that will satisfy their needs. ZOHO tool, for example, will gather information about the customers; companies will, therefore, use the same information to design appropriate content to be used in marketing. With time customers will develop a strong relation with the marketer because they will feel that the product and service being marketed meets their specific needs.
Also, the face to face type of personal marketing has been enhanced by focusing on the specific customer and establishing a long term relation. Most companies have invested in personal marketing by ensuring that marketers present themselves appropriately to the potential customers, for example, the business to business form of marketing whereby clients meet a marketer, and they engage in long talks where the client seeks to find in-depth information. At this point, marketers have been trained to engage in productive discussion with potential clients and conduct a follow up to enhance the relation (Belz, 2006).
Kimmel, A. J. (2005). Marketing communication: new approaches, technologies, and styles. Oxford University Press on Demand.
Goldsmith, R. E. (2004). Current and future trends in marketing and their implications for the discipline. Journal of Marketing Theory and Practice, 12(4), 10-17.
Andreasen, A. R. (Ed.). (2006). Social marketing in the 21st century. Sage.Belz, F. M. (2006). Marketing in the 21st century. Business Strategy and the Environment, 15(3), 139-144.
If you are the original author of this essay and no longer wish to have it published on the SuperbGrade website, please click below to request its removal:
- Impact of Social Media Promotion: A Case Study of Kowloon Motor Bus Company
- Exploratory Essay Sample on Relation of Social Media Marketing Campaign for Doritos to the Age Cohort
- Application for Online Marketing Position
- Nike Competition in the Market
- Expository Essay Example on Retention of the HR Function Within the Organisation
- Discussion Questions About Companys Marketing Strategies
- Informative Essay on Product Liability, Tort Law and Consumer Law