Recent trends in marketing
In recent years we have seen that marketing has taken a new phase in every field. To be efficient in marketing we have seen how we market to reach the consumers in various ways. There has been a large shift in communications from traditional media to a worldwide conversation that flows faster and farther than anyone could have imagined. With those economic, cultural, political and environmental events, as well as the advances in technology and the global online conversation in mind, these are the trends that affect all areas of marketing, from advertising to branding and everything in processes of marketing.
1) Today’s consumers not only ask for product and services but they expect more than that. They don’t want to just hear about the market around them but they want to see it. Gone are the days when ads and marketing messages were developed for the sole purpose of getting the attention of consumers.
People expect more from businesses and brands. So recent market has become alert about these things and we do see that they have been trying to communicate a feeling of security in their marketing efforts to meet to our needs.
2) In last few years we have seen economic downturn has occurred which has stopped many in their tracks. Consumers are watching their money and because of this, they will only spend on purchases that they consider to be of value. They will continue to seek value in every rupee spent. Consumers no longer purchase just because an item is on sale, rather they will justify every rupee spent. When the economy recovers, that behavior will not disappear immediately. So the marketers have to be well prepared for the consumer focus on value and build marketing campaigns with that consumer demand in mind. This means marketing should have the value of their product or services in order to get consumers to meet their demands.
3) We have to leverage the social web to interact with people around the world and build relationships that wouldn’t have been possible a decade ago. When we build relationships with consumers, we also build a band of brand loyalists that can become our most powerful source of word-of-mouth marketing, brand advocacy, and brand guardianship. So in new market trend communication and relationship with consumers have become the most important factor for any business or brand.
4) Technology has played a tremendous role in bringing up marketing methods and help to reach consumers in various ways. E-mail marketing, mobile marketing, online videos, social network marketing, blogging, podcasting, online radio etc. There have been so many ways to explore our business and reach our consumers. But the number of marketing communications that people see each day is overwhelming, so it’s important that your messages don’t get lost in the clutter. You can make your brand, your business and your messages stand out by surrounding consumers with branded experiences and allowing them to choose which of those experiences they want to consume.
5) Combining all the above points the marketing should focus on each and every aspect to meet the needs and demand of consumers. Transparency and trust, Less interruption, more enhancement and value-add, relationship with loyalty should be seen in every market aspect.