Nature of marketing has changed over the years due to changes in the sociocultural, economic , technology , politics , regulatory and other factors . Some of the changes that I have noticed along with the changes mentioned above are :
1, Contextual Marketing : due to advent of technology it has become important for marketers to find the context where consumer will think about the product and search the product . Marketer as to be present at that point only . for example when a consumer is driving from one place to another and he thinks food he would search along on his GPS , in such a situation one’s restaurant should appear in the list for being a part of the consideration set . The chances of consumer visiting us would be high.
2 Customerization of the products , one should be able to develop consumer specific products . This will enhance loyalty and sale of the company .
3.Global trends , it is observed that more and more products are moving from regional trends to global trends as a consequence marketers have to learn to think globally and create such products .
4. Reducing place of origin respect : as China became world factory , there is a lot acceptance for products coming from across the world . In this scenario place of origin tag importance has come down and product features and quality play a more important role .
5. Hybrid marketing channels : to day consumers like to buy same product through mobile application , online store , digital kiosk at metro station and at the store . All products eventually should reach wherever the consumer is and therefore companies need to develop hybrid marketing channels .
6. Personalized communication : we have channels which recognize consumers’ demographics and behavior and communication can be adapted accordingly on Google and others . Companies need to work on reaching rightly to these consumers .
7. Engaging consumers mentally so as to get mind share rather than wallet share .
8. Digitization of marketing all processes is another change in marketing .
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