New Age Marketing: Strategies to beat emerging

Marketing Challenge

resenLed by Shllpl and 8ahul kumar(1)

lnsLlLuLlon MAS1L8 SCPCCL Cl MAnACLMLn1

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Address MAS1L8 SCPCCL Cl MAnACLMLn1

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Moblle no 8881060109 7669003367

Lmall address shllpl1012a[msmlndlaorg
rahulkumar1012a[mslndlaorg
key words MulLl markeL channel markeLlng evenL based
markeLlng consumer cenLrlclLy desLrucLlve markeLlng
experlenLlal markeLlng value ls klng moblle markeLlng




new Age MarkeLlng SLraLegles Lo beaL emerglng markeLlng challenges
lnLroducLlon
Llke any arL or sclence markeLlng ls changlng from only belng Lhe lnLroducLlon of your producLs and
servlces Lo prospecLlve cusLomers ln general Lhe cenLre of aLLenLlon ln markeLlng ls shlfLlng away from
lLs varlous lnsLrumenLs llke adverLlslng and sales promoLlon Lo focus on avallable lnformaLlon uue Lo
lncreaslng global compeLlLlon even smallesL of Lhe flrms are compelled Lo use lnnovaLlve markeLlng
Lechnlques MarkeLlng ln lLs nascenL sLage was well deplcLed by a farmer loadlng a wagon wlLh hls
producL Lo sell ln Lown on markeL day 1hus lL emphaslzed more on physlcal dlsLrlbuLlon of goods and
servlces
AfLer lndusLrlal revoluLlon ln 19
Lh
cenLury markeLlng was ln lLs chlldhood sLage As Lhls era marked
several breakLhroughs llke sLeam englne no one LhoughL markeLlng Lhese lnvenLlons ln 20
Lh
cenLury
markeLlng Lravelled Lhrough lLs adolescence sLage wlLh well equlpped sclenLlflc managemenL 21
sL

cenLury saw Lhe evoluLlon of markeLlng Pere markeLlng Lravelled Lhrough lLs varlous eras from
producLlon concepL Lo sales promoLlon now more or less lL ls revolvlng around relaLlonshlp markeLlng
as per demand of Llme now markeLlng has evolved from a seller's markeL Lo buyer's markeL
Cwlng Lo lnformaLlon Lechnology breakLhrough cusLomer has each and every lnformaLlon avallable aL lLs
doorsLep and globallzaLlon had creaLed an avenue full of opLlons so Lhey are able Lo buy producLs of
Lhelr own cholce aL compeLlLlve prlces So Loday's era ls poslng a greaL challenge Lo markeLers Lo
poslLlon Lhelr producL effecLlvely whlch ls able Lo solve cusLomer's problem beLLer Lhan your compeLlLor
and LhaL Loo aL cheaper raLe
We have llsLed here some of Lhe ma[or challenges Loday's markeLlng scenarlo ls poslng Lo Lhe
markeLers
1 8lslng cusLomer expecLaLlon
Clobal compeLlLlon has made avallable new producLs and servlces more qulckly Lhan ln pasL
ralslng cusLomer wanLs needs and expecLaLlon CusLomers are lncreaslngly demandlng beLLer
quallLy 1oday's cusLomers are less paLlence under hlgh sLress and have less Llme Lo spend
1hey wanL value for Lhelr Llme So challenge lles Lo presenL day markeLers Lo ldenLlfy all Lhe
expecLaLlon of Lhelr cusLomer and caplLallze on Lhe unmeL needs

2 no sureLy abouL fuLures
ln Loday's world everyLhlng ls changlng very qulckly and fasL 1he currenL world ls no longer a
place where you can predlcL and underLake Lhe words redlcLlon especlally abouL fuLure ls very
dlfflculL redlcLlng consumer behavlor has become a dlfflculL Lask and ls lnvolvlng loL of
uncerLalnLles




3 Challenge Lo compeLe on producL lnnovaLlon and prlce
ln Loday's world aLLrlLlon raLe of lnnovaLlon ls very fasL lf a markeLer lnnovaLe someLhlng lL has
become very easy for lLs compeLlLors Lo copy Cwlng Lo globallzaLlon markeLers are challenged
Lo provlde soluLlons aL compeLlLlve prlces

4 Challenge Lo Lackle mulLlchannel markeLlng
Lmergence of new cusLomer channels has provlded markeLers wlLh an array of cholces and
complexlLles revlously Lhere was a need Lo allgn 4's Lo communlcaLe Lhe rlghL messages ln
mass markeLlng adverLlsemenLs 1oday Lhere ls a need Lo synchronlze Lhose messages across
mulLlple channels and noL only magazlnes sLores caLalogs and call cenLers buL also webslLes
emalls LexL messages moblle devlces and klosks

3 Changlng naLure of compeLlLlon
ln Lhe era of global buslness when goods and servlces can be markeLed and sold ln ways LhaL
were unlmaglnable ln Lhe pasL organlzaLlons need Lo compeLe for survlval noL only wlLhln Lhelr
domesLlc markeL buL globally and also be prepared Lo flghL for markeL share 1he slze of
compeLlLors ls lncreaslng and Lhey have more resources ln Lerms of boLh people and caplLal Lo
compeLe

6 MaLchlng Lhe need of new cusLomer
World ls changlng very fasL so Lhe consumer and Lhelr needs owlng Lo dlfferenL llfe sLyles and
spendlng paLLerns MarkeLers have a challenge Lo maLch Lhe need of evolvlng populaLlon

7 CusLomers more skepLlcal abouL markeLlng and adverLlslng
1oday consumer has become much smarLer lL ls noL LhaL whaLever ls provlded Lo Lhem Lhey
wlll accepL 1hey have become much skepLlcal and ofLen Lune ouL markeLlng messages
compleLely

8 Challenge Lo acqulre and reLaln cusLomer
lL ls a greaL challenge Lo acqulre and reLaln cusLomer as Lhey keep on swlLchlng Lo your
compeLlLors More Lhan Lhree quarLer of a company's proflL go Lowards acqulrlng and reLalnlng
cusLomers

9 ower shlfLlng Lo cusLomers
WlLh Lhe advenL of web 20 Lechnologles cusLomers can share Lhelr oplnlons onllne and
lnfluence mllllons of people Lo buy or noL Lo buy from a parLlcular organlzaLlon 1hey also
demand producL and servlce lnformaLlon LhaL ls personally relevanL Llmely and dellvered vla
Lhelr preferred channels 1hls means now markeLers need Lo manage 4's aL one Lo one level




10 LlmlLed resources
MarkeLlng ls under pressure Lo galn more wlLh fewer budgeLs and ln shorLer Llme frame 1hey
are forced Lo employ fewer resources and devlse cosL effecLlve soluLlons as Loday's consumer
wanLs Lo galn more value ln less money eople do have llmlLed resources markeLers no longer
afford Lo wasLe people crlLlcal resources elLher Llme or money MarkeLers musL work LogeLher
Lo modernlze operaLlons slmpllfy markeLlng processes and lnLegraLe messages and channels
wlLh lnLelllgence 1he currenL revoluLlon ln markeLlng demands a more rewardlng challenglng
and relevanL role by markeLers
new age markeLlng has provldes many dlmenslons Lo address Lhese challenges Some of Lhem are as
follows
1 8e lnnovaLlve
8e lnnovaLlve ln markeLlng sLarLs wlLh llsLenlng Lo consumers 1oday's world of buslness
demands observaLlon of cusLomer Lhrough all posslble means lL does noL mean dolng only
feedback research LhaL ls golng Lo glve predlcLed resulL 1oday's markeLers need Lo provlde cosL
effecLlve soluLlon Lo cusLomer problem wlLh Lhe help of lnnovaLlon

2 Cbserve Lhe Lrend
MarkeLers need Lo observe Lhe Lrend and accordlngly deslgn Lhe producL as Coogle dld 1hey
observed Lhe growlng Lrend of webslLes on Lhe lnLerneL so a need of search englne whlch
works fasL and lL dld LhaL whlle resL of Lhe compeLlLors kepL on uslng sporL flash vldeo and
mulLlmedla conLenL whlch made Lhe slLes heavy and hence Lhey loaded slow So Coogle derlved
Lhe compeLlLlve advanLage by observlng Lhe Lrends before oLhers

3 Conslder value as Lhe klng
CusLomers now are more senslLlve Lo prlce 1hey are looklng for value and noL golng only wlLh
Lhe brand 1hose markeLers wlll be able Lo susLaln who provlde value for Lhe money pald

4 8rand dlfferenLlaLlon ls Lhe key
now cusLomers are overloaded wlLh cholces of producLs and servlces LxLenslve communlcaLlon
wlLh overloaded lnformaLlon ls confuslng Lhem for whlch producL Lo opL 1he success of
markeLers wlll depend on how Lhey are golng Lo dlfferenLlaLe Lhelr brand wlLh compeLlLors
value addlLlon excellenL servlce quallLy and feaLures are golng Lo be Lhe key facLors Lo reLaln
cusLomers

3 1hlnk abouL proper onllne markeLlng sLraLegles
1he use of lnLerneL ls growlng day by day even ln developlng counLrles cusLomers are fed off
wlLh mass medla adverLlsemenLs lf markeLers wanL Lo survlve ln long run he needs Lo devlse
proper onllne markeLlng sLraLegles llke markeLlng Lhrough blogs Lhrough soclal neLworklng eLc


6 1hlnk abouL moblle markeLlng
Moblle commerce ls emerglng very fasL revlously lL was noL able Lo dellver Lhe promlses buL
recenLly lL has been exLended Lo paymenL for goods and servlces now a Llme has come when
markeLers need Lo Lhlnk abouL moblle markeLlng

7 Apply experlenLlal approach of markeLlng over mass markeLlng
LxperlenLlal markeLlng provldes experlence of Lhe brand and noL [usL Lhe producL An
experlenLlal approach Lo launch a brand ls much more effecLlve and relevanL Lhan Lelevlslon
adverLlsemenLs Lg Mahlndra LracLors wanLed Lo launch Lhelr Py1ech brand whlch was a
sLrong hydraullc LracLor almlng Lo help farmers Lo saw Lhe fleld 1o show Lhls Lechnology
Mahlndra flxed sensors Lo hydraullc and a large LCu monlLors was placed for farmers whlch
showed Lhem Lhe way 1hls acLlvlLy was easlly undersLood and Lhelr sales Lremendously
lncreased

8 ulfferenLlaLlng cusLomer experlence
MarkeLers need Lo develop cusLomer cenLrlc sLraLegles so LhaL cusLomer can experlence
dlfferenLly Lg nlke's lu sysLem deslgn your own shoes nlke came up wlLh an lnnovaLlve ldea
Lo gauge cusLomers by glvlng Lhem an experlence of belng Lhemselves CusLomers can deslgn
Lhelr shoes accordlng Lo Lhelr llkes and dlsllkes maLerlal color shape eLc whlch deflnlLely
creaLed ldenLlLy for Lhe brand

9 CusLomer engagemenL
ConLlnuous Louch and engagemenL wlLh Lhe cusLomer wlll be a sLep up ladder for Lhe flrm Lo
grow !usL sLlcklng Lo one sales polnL ls no longer susLalnable for a flrm

10 ueepen cusLomer lnslghL
1oday's markeLers need Lo have a deep cusLomer lnslghL so LhaL Lhey can accordlngly deslgn and
supply Lhelr producLs and serve Lhe cusLomer ueep knowledge abouL cusLomer can be known
by managlng quallLy cusLomer daLa predlcLlng cusLomer behavlor and proflllng and segmenLlng
cusLomer

11 lnLegraLe all your deparLmenLs
ulfferenLdlfferenL deparLmenLs of an organlzaLlon needs Lo be properly lnLegraLed so LhaL lf a
lnformaLlon comes Lo one deparLmenL lL can be uLlllzed by oLher and cusLomer can be served
beLLer

12 uevelop a cusLomer lnLeracLlon sLraLegy
A flrm needs Lo be properly lnLegraLed wlLh lLs cusLomers especlally lf Lhe cusLomer ls a hlgh
end cusLomer 1here are many sofLware llke cusLomer lnLelllgence sofLware whlch can be
employed for Lhe purpose 1hrough lL company can acLlvely promoLe producLs offers dlscounLs
and lncrease lLs sales by sLudylng cusLomer behavlor

13 locus on evenL based markeLlng soluLlons
MarkeLers need Lo engage hlgh poLenLlal cusLomers effecLlvely and ln real Llme MonlLor
lndlvldual cusLomer deLecL Lhelr behavlor changes and auLomaLlcally send leads Lo sale 8y
reachlng ouL a cusLomer aL rlghL Llme poslLlve response raLes can be 20 Lo 30 Llmes hlgher Lhan
LradlLlonal dlrecL markeLlng Lven more lmporLanLly cusLomer afflnlLy lncreases because
cusLomer percelves Lhe conLacL as Llmely and valuable

14 lrom producL cenLrlclLy Lo consumer cenLrlclLy
1radlLlonal markeLlng concepL was producL cenLrlc ln LhaL perlod markeLers do noL boLher
abouL Lhe cusLomers because Lhey Lhlnk LhaL whaLever Lhey produce cusLomer wlll buy buL
Loday's markeLers need Lo concenLraLe on consumer because markeLers know Lhere are loLs of
compeLlLors ln Lhe markeL lf Lhey wlll noL glve value Lo Lhe cusLomer Lhen cusLomer wlll
auLomaLlcally shlfL on oLher producers who are provldlng beLLer servlce and provldlng Lhem
more value So markeLers need Lo deslgn Lhelr producL accordlng Lo Lhe cusLomer whlch helps
Lhem Lo susLaln ln long run

13 use desLrucLlve markeLlng Lechnlques
WlLh lmproved Lechnology a loL of players are comlng ln parLlcular segmenL and lncreaslng
compeLlLlon llghLlng wlLh Lhe compeLlLor Lo galn markeL share ls very blg challenge Lo presenL
day flrms 1hey need Lo devlse some sLraLegy whlch wlll help lL agalnsL Lhe compeLlLor producL
uesLrucLlve markeLlng ls one such answer lL desLroys compeLlLor's producL and glves you a
compeLlLlve advanLage Lg romlse LooLhpasLe flrsL Llme polnLed ln lLs adverLlsemenL LhaL lL
conLalns clove oll whlch ln lndla ls consldered as an ayurvedlc producL whlch ls good for LeeLh
and can cure varlous allmenLs So promlse galned an added advanLage Lo lLs compeLlLors and
creaLed large markeL share 8uL lL was noL someLhlng very dlfferenL oLher Lhan only poslLlonlng
Lhey dld as clove ls Lhe baslc consLlLuenL of all Lhe LooLhpasLes
Concluslon
Concludlng Lhe shlfLs of markeL Lowards consumer and buyers has dlsrupLed Lhe overall funcLlon of
markeLlng We are selllng a commodlLy Lo a well lnformed and demandlng prospecL MarkeL ls
demandlng a huge shlfL ln Lhe vlew polnL of markeLers 1hose who wlll avold change of processes wlll
soon flnd Lhemselves lrrelevanL only Lhose wlll survlve who wlll dellver more value and soluLlon Lo Lhe
cusLomer lace Lo face LradlLlonal or offllne medla are noL golng away 1hey are [usL changlng evolvlng
and need Lo be lnLegraLed seamlessly wlLh dlglLal markeLlng channels 1hls means markeLers musL
revoluLlonlze Lhe managemenL and measuremenL of Lhe offllne world and lnLegraLe lL Lo Lhe onllne
world 8rand value ls no longer Lhe lLem whlch can be encashed for a long perlod lLs value geLs dlluLed
wlLh Llme so Lhere ls a need Lo galn more conLrol on Lhe way markeLers approach Lo Lhelr LargeL
markeLs and Lhe experlence Lhey dellver onllne or offllne MarkeLers have Lo evolve Lhelr buslness
gradually and affordably Lo a more cusLomer cenLrlc model 1hey need Lo do consLanL analysls and learn
from Lhe resulLs Lo have beLLer performance