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evolution of modern marketing concept
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Introduction
The marketing discipline is moving at breakneck speed right now. New channels are added daily, new techniques are changing daily responsibilities, and new strategies are changing the way marketers think. With so many changes flying at the modern marketer
There is a continuous change in the marketing world. Daily new channels are getting added which makes the marketer to think in hundred different directions. There have been changes in the consumer’s tastes and the method of interaction over a period of time. But fortunately no matter how much the discipline changes, there is one thing that remains constant: the way the consumers think.
No matter how fast our society has been changing, but humans have always followed a consistent and even predictable pattern of behaviors throughout. The humans even do not realize but they tend to follow certain behaviors that are guided by a set of psychological principles that affect their behavior.
The amount of emphasis put on leads these days is also staggering. Sales is constantly demanding more, marketers are always trying new ways to find them, and a large part of marketing success is tied to the number of leads generated.
White Paper
This quest for more leads is what drives companies to implement exciting new technology like marketing automation: to capitalize on lead nurturing, streamline processes with lead scoring and grading, and utilize advanced reporting to perfect their marketing campaigns. There is however, another change marketers can make to generate results that isn’t tied to technology at all: understanding the psychology of conversions.
The decision making process follows a relatively predictable pattern, with triggers that influence and guide consumer behavior. Un...
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...company can hire some celebrity for the promotion of the product if the company has the budget to do it. Otherwise the marketer himself can act as graet celebrity representing his company through the perfect time personality and intelligent & sensible talks.
Although there have been drastic change in the marketing discipline, but still the psychological drivers behind customer’s decision making style and thinking remains almost the same. Marketers normally don’t think in terms of psychology of a customer, these days’ marketers are busy creating their knowledge in terms of the latest technology, etc. but they forget to think in terms of the customer’s mind, his fascinating patterns and different type of behaviors to different situations. This White paper wil hopefully help the marketers to understand the psychology of the customers for better conversions of the sales.
More importantly, the decision to purchase is done subconsciously. This means that the majority of the time, your consumer is not even aware of their decision to buy or not to buy your product. In fact,
Firstly, one of the most important focuses would be given to the target customer as we will need to know more about their taste and preferences. What it is they need and or want. Particular topics covering this area will be, the need for ‘Market segmentation’, identifying a competitive position in the market about to enter in the market and studying consumer behaviour, will all be discussed.
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
Conclusion Companies are better able to market their products to consumers if they have a good Understanding of the consumers and the basic purchase decision process. By understanding the consumer and the type of purchasing behavior associated with different products, marketers are more likely to create a marketing campaign that positively impacts the consumer’s purchasing decision.
Kotler, P. & Keller, K.L., (2009), A Framework for Marketing Management. 4th edition, Pearson Prentice Hall: USA
Marketing is not a static construct, but it grows and develops over time to become what is known as marketing today. “The marketing revolution divides neatly into four separate eras’, eras’ which parallel rather closely the classic pattern of development in the marketing revolution.” (Keith, 1960). The first of these 4 eras was until the 1930’s and was production and profit orientated, and are considered to be outdated. During this era “the new product decision was product oriented not marketing orientated.” (Keith, 1960). “The second era was a sales oriented era, whereby marketing was seen as a series of activities designed to produce profit through ascertaining, creating, stimulating, and satisfying the needs/wants of a selected segment of the market.” (Eldridge, 1970, p. 4). The 3rd and 4th eras are a representation of what
Donaton, S. (2004, February 23). It is time to take a fresh look at the definition of marketing. Advertising Age, 75(8), p-16.
“Viewpoint: Who Knows What Lurks in the Hearts of Consumers? The Inner Mind Knows.” Advertising Age. 09 06 1997: n. page. Web. The Web.
The practice of brand management is a key component of marketing and performs an integral function by motivating the wants and needs of consumers. It is known that marketing can shape consumer needs and wants, however, consumers today appear to be more knowledgeable about the information regarding products. Consumers lead busy lives and have therefore gone to the internet as one of the many channels to learn about products in order to make informed decisions. This paper will discuss the argument that marketing should reflect the needs and wants of consumers rather than shaping these attributes. Due to the speed and ease of obtaining information, consumers do not take at face value strong marketing efforts that appear to be overly aggressive and push a brand rather than just being informative. Brand managers have to be aware of these changing dynamics and carefully craft brand management practices to meet the demands of consumers.
“Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” (AMA, 2007)
Marketing professionals create, manage and/or enhance brands in order to create or bolster demand for the product. A successful marketing plan will help assure that consumers look beyond just the price or function of a product when making a purchasing decision, in part, a well planned marketing effort will create a “feel good” association about the product the consumer is about to purchase (Petty) A key part of a career in marketing is to understand the needs, preferences, and constraints that define the target group of consumers or the market niche corresponding to the brand. This is done by market research. This is accomplished through market research, essentially using survey techniques, statistics, psychology and social understanding to help gather information on what consumers want and/or need, and then designing products, or services, to hopefully meet ...
Kotler, P. (2000). Marketing in the 21st century. Marketing Management Millenium Edition, Tenth Edition, New Jersey: Prentice Hall.
In the 1990s direct marketing became the most important tool in the mix because technology had enabled a form of communication by appealing directly to the target customer. This change led to new media formats, and the subsequent development of the Internet. Digital technologies have accelerated change in the marketing communications
VARGO, S. L. & LUSCH, R. F. 2004. Evolving to a New Dominant Logic for Marketing. Journal of Marketing, 68, 1-17.
The research on consumer behavior assists the organization recognize and forecast the purchase behavior of the consumers while they are purchasing a product. Thus, the study of consumer behavior helps the marketers not only to understand what consumer's purchase, but helps to understand why they purchase it (Kumar, 2004). There are a lot of elements which can influence the purchase decision of consumers such as social influences, cultural influences, psychological factors and personal factors (Super Professeur, 2011). Understanding these factors helps the company to market the product on right time to the right consumers in order to generate more profits. On the other hand, if the marketers fail to understand these components that might influence consumers, they will fail to convince the consumers to purchase that product or will fail to meet the demands of consumers. However, consumer behavior is one of the stimulating and challenging areas in marketing studies being a human activity focused on the products and services. Thus understanding the behavior of the consumers is a great challenge. Moreover, it is not easy to get a full picture of consumer behavior as customers make plenty of different buying decision every day and they usually do not know exactly what influences their purchase. In short, basing on all