Consider the three key forces driving the new

marketing realities. How are they likely to change in

the future? What other major trends or forces might
affect marketing?
Introduction:
The world as a fully-fledged economy thrives on various markets existing owing to the consumer
taste and aspiration across the globe. It doesn’t matter in which part of the world one goes, one
would always find a sparkling resemblance in each market on the grounds of comparison like the
Demography, Target Audience, Social sentiment, Ethnic Origin and the list goes on along with the
regulations clipped by the governing bodies of respective states to protect the domestic traders and
interests of small sellers in the whirlpool of big emerging technology-based giants trying to
consummate the territories to assuage the hunger of their territorial ambitions.In this quest for
expansion of business for the one and only motive i.e PROFIT, one needs to take every step extra
cautiously by analyzing and updating oneself for the ground market realities. Now, what are
marketing realities? Know about it in the next section, meanwhile wrapping up the contents of this
assignment.
This assignment is motivated to answer the question as to what are the factors affecting the new
marketing realities, how are they changing and what others are present in the same dimension. But
before we start discussing the tit-bits of marketing realities and forces associated with it, let’s have a
look at the meaning of marketing realities first in the upcoming section and then trace our steps back
to the real motive of answering the question.
But before that, we need to keep a few points ready in our mind related to the upcoming study that
all the concepts and theories are just data based on some real-time surveys and analyses done by
some prominent surveyors which include not each and every entity in that field, since it’s difficult to
cover that. But still, we can rely on the data for segregating our bias towards the conclusion at the
end of this assignment, keeping in mind the main crux of final conclusions of the respective surveys
mapping all the main topics of considerations in our study.
Marketing Reality
For a newbie in this field, this could be easily answered by the work of guess just by looking at the
term: Marketing Reality. A real-time existing tactic to generate leads for marketing is the crispest and
simple definition of marketing reality. With changing times, rather with every second now, the war of
standing out from the crowd is getting tougher amongst the participants (sellers/traders). One has
realized that if there is even a single day’s delay in updating your knowledge with the ‘NEW’ thing in
the market, you consider this as an already lost race. One has to keep up with the pace of
improving, updating, and analyzing the entries and exits of a market.
A marketing reality is something that changes and governs our road of marketing. It can be
something already existing but latent, or something which has just emerged out of nowhere. Just
imagine your business being started at some point of time, making you hopeful of your future
endeavors, and overwhelmed by your marketing strategies, but out of nowhere, there is a new
governmental obligation to be met by you at some front like taxes! Boom! Your strategies are now
gone, you are nowhere in your mind palace of prospering, you become depressed by the failures of
your investment since ‘A CHANGE’ is required to understand the nature of market once again. That
CHANGE is the Marketing Reality. Since it’s a change, it’s utterly variable. One can’t predict the
oncoming of change, nobody can, and there is no remedy for that. But, what about being
provisionally ready for it?
That’s what normally all successful businesses are up to, they are constantly leaving provisions of
change to evolve with the marketing realities. Be it the electronics giants like AMAZON, EBAY, and
ALIBABA who have a flexible structure of the business to go along with the flow of their host nation’s
ease, or Retail giants like WALMART, SPARR, SHOPPERS STOP who also have now started
giving a tough match to the online platforms. Now, what difference does it make to have an online or
offline presence as long as you are selling it to someone? IT DOES due to marketing realities. This
is the power of marketing realities.
In the next section, we are going to talk about the major forces affecting new marketing realities to
this date and time. As we write, the new realities also are losing their sheen since its variable
remember? But before we talk about the forces let’s have a look at the existing marketing realities in
brief. As we have mentioned above about the online and offline seller platforms, we have touched
upon the most important aspect of realities that is changing nature of selling platform. Thus, Offline
platforms are also witnessing the wave of change in seller’s attitude towards analyzing customer by
the use of technology. Another reality is Use of Technology by businesses. We are going to see in
the next section, how the number of technologies used by a seller is directly proportional to their
reachability in the market. One more reality is the Budget of a business. It determines every aspect
of a business but most importantly about the decision of keep changing with times and competing on
the same grounds as offered in the marketplace.
3 Major Forces
The present part of the study will explain in detail about the various factors which these marketing
realities are dependent upon. Albeit the forces are never constant, thus it would be wise to say the
contemporary forces in existence to sap any sense of confusion in our discussion. The three major
forces in the market right now are
1) Customer Behaviour Prediction: Customer behavior is the most important factor that was, is
and will always be a prominent mystery with new locks to be opened by a key provided by time
differently. Before the era of the internet, Only the Brick and Mortar retailers existed, no e-commerce
was present. So customer base was very restricted, and also customers did not have a scope of
exploring options. After Internet (Initial Stage), Still coming in terms to understand how to decipher
this new invention for marketing purpose, so by and large the same case. After Internet (present
stage), Fully explored scope. The customer is god now. Online retailers at benefit leveraging the
technology and offline now starting to realize the fear of losing out.
It has been generally assumed that customers involved in online platforms are a larger chunk, but
it’s not so. Only 8.4% of total retail sales were in the spectrum of online platform selling, rest 91.6%
was offline. So it’s important to discuss the behaviour prediction on both platforms. For online
customer prediction, there are various tools available with e-commerce giants nowadays. Google
Analytics has changed the picture of prediction patterns and application single-handed to e-
commerce businesses. It helps analyze the incoming traffic and optimize business strategies
according to the customer prediction.
The combined power of TECHNOLOGY, BIG DATA, ANALYTICS serves a major revolution in the
field of e-commerce platforms. Every seller now thrives hard to have their hands on this set of power
which is no less than an elixir in the cutthroat environment. But the picture of offline prediction is a
little sulky right now. With no clear technology to assess the physical presence of customers and
track their movements, it’s quite difficult to take advantage of this 91.6% share. Though there still
exists an idea of offline prediction pattern which is very popular now i.e. WIFI DIGITAL
FOOTPRINTS. According to this idea, wifi hotspots in a brick and mortar marketplace can serve as a
major tool in mapping and trace the customer movements through the marketplace. The market still
awaits this.
2) Marketing Budgets: Marketing Budget, as we will see later, takes up a huge chunk of spending
in a business strategy. It is easy to provide some amount periodically for this purpose, but difficult to
assess the right field of investment. Though this is a really important force, it’s so huge that it itself is
governed by sub-factors like Economic balance of nation, Changing technology, Business Size,
Brass decisions, Historical overview
Various studies have demonstrated it well as to how budget rules the roost in the marketing strategy
of businesses. According to the new Gartner Research, the average global marketing budget is
increasing every year by 1% from 15% (2015) to 16% (2016) to a new record level of 12%
(2017). Also, the research entails upon explaining the prominence of how budget spending is very
important in reaching out to pockets. Targeted and triggered campaigns are believed to cross 58%
of total retailer revenues. What determines the budget spending covers a lot of aspects right from
COMPANY SIZE to ECONOMY SIZE and regulations, for instance, the budget cutting by 20%
following the 2008 recession hit market left sellers dumbstruck.
3) Technology and the evergreen challenge of Competition: competition will never fade in its
element to exist as a major factor affecting any line of business. The competitive environment is a
boon for the customer’s pocket while a bane for the seller’s. Its prominence in the field of decision
making is so huge that it cannot be avoided now at any level, at any cost.
The above landscape picture representation might look confusing to anyone as it contains over 4000
new technologies which at present make competition tougher in the marketplace. Imagine how it
might affect the budget and strategies of businesses. This is the recent quest to clinch the title in the
war among businesses. Competition has taken a toll on the marketplace so much so that imitation is
the new villain here. One could find overlapping of campaigning strategies in electronics, media
entertainment, apparels and many more sectors.

Other Potential Forces

As already stated, the list was not exhaustive. So here are a few more forces which have the
potential of affecting the marketplace and govern the marketing realities.
1) Marketing channels: A business along with just allocation of the budget has to be wise in the
selection of marketing channels.
2) Information Technology: Although a generic term, it has the power to instantly topple the market
sentiment.
3) Globalisation: Quest to clear territorial limitations is a major motivation to many big and small
emerging sellers and businesses.
4) Deregulation: Ease of doing businesses is another important consideration going in hand with
globalization.
5) Convergence: When 2 or more industries join hands, it leaves a bigger impact on existing
realities and future too.
6) Delivery: The biggest headache is taken care of by houses like FedEx, DHL and many other
packages and delivery houses making things easier for small dreams of making it big.
7) Loyalty: Various Brand Loyalty programmes are doing a good job in customer retention
possibilities for major and small business houses.