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Created by : Sujatha srivastava, Associate/Senior Associate, AT Kearney  | 03 16 2010 10:17:08 +0000
Industry : Management & Strategy ConsultingFunctional Area : Business Models(Strategy & Execution)
Activity:  1578 views;  last activity : 04 16 2012 04:50:41 +0000

There has been a new way developed to look at things how marketing should be done. Previously companies followed a product based concept, & then the customer based concept came. Companies used to deliver the products as per the needs & requirements of the customers.


http://agoramedia.co.uk/blog/wp-content/uploads/2009/10/PhilipKotlerMarketing3dot0.jpg

But as the markets have evolved so the concepts of marketing. A new concept 'Marketing 3.0' has evolved which stresses that consumers should be seen as human beings & more value should be added to the offerings.

So, is this the future of marketing?? Will it change the whole concept of marketing & business??

Share your views....

 
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Top Argument
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5 new skills for the future of marketing

I've been thinking about quintessential marketing skills and how they're evolving.

Skills can be very specific, such as "mastery of ExactTarget for newsletter email marketing". But I'm more interested in broader skills that transcend individual projects and programs. For instance, in marketing, I've found that the following skills have perpetual value:

  • empathy with customers, seeing through their eyes;
  • a good ear for authentic, persuasive language;
  • a good eye for compelling visual design;
  • open-minded creativity and imagination;
  • fluid mapping of features to benefits in context;
  • an engaging flair for showmanship (without showboating);

5 New Marketing Skills

1. Analytical pattern recognition

2. Agile project management.


3. Experimental curiosity and rigor.

4. Systems thinking.

5. Mashable software fluency.


By ravindra shrivastava, Information Systems(MIS)-Manager, iifs pvt ltd  03 16 2010 13:58:45 +0000
 
Top Argument
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No, I don't completely agree with Sujatha. I don't think it the concept will have much impact on the business world.

Today also businesses focus on creating value to their customers. Companies have come to know that customers are king & they can't fool around with them.

Though the new concept is good & it can improve the functioning of businesses, but I don't think it will have much impact.


By Purvi Ghosh, Marketing analyst, Percept Advertising  03 16 2010 13:07:11 +0000
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Yes ! Marketing 3.0 is the future of marketing. Previously the marketing emphasises more on Product (to fit the customers need- Need-Gap Strategy)  and then Customer (the ultimate buyer, by PUSHING them) and now the Human ( touching the emotional chords- stimulazing or PULLING them to buy).

 Marketing 3.0 is actually the COMPLETE FORM of MARKETING. Aquiring a positive space in the humans mind is the big task especially in this cumbersome and heavily loaded competitors. This is what Marketing 3.0 does !


By Nadeem , Sr. Business Development Manager, Century Financial Brokers  | 03 27 2010 13:36:28 +0000
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Well in today's marketing world it's all about understanding the human behaviour and create a need for them that will be applied reality on a product or service.Take instance of mobile phone markets which has become very volatile with so many players on the frontline proving themselves to be the pathbreakers for their innovations.Each of them are clawing against one another by offering unique technological features as designed by their R&D to provide utility of the feature to the consumers.Hence a need is evolved and others follow suit since the demand for the same becomes high.The same applies to the telecom service providers where they often comes up with new plans like pay per use,everyday billing,etc or by adding a emotional touch in the hearts of the people.

 All these marketing strategies (creating a need,accepting it and evolving the same with massive changes in demand towards a high note) are developed keeping in view about the human behaviour which is a very important tool to sustain a product/service in the minds of the people.And yes,the advertising world is now designed to serve the same purpose-sustainability.And soon, you will see companies adding regional or local flavour with their product ads to achieve acceptability and sustainability for their brands.

  Therefore Marketing 3.0 is really the future tool of marketing.


By Kaushik Kumar Borah, Sr. Business Development Executive  | 03 26 2010 09:44:17 +0000
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human spirit and human feeling is the key. u possibly connect the 'highest; at that level. not to ofcourse undermine the product features and benefit-[product-centric approach.] but understanding the face technology being a leveller diminishes the feature differences between alike products, the best possible way to touch people close is the what we call marketing 3-0. will the next level be dream and fantasy explored and executed the sort of  kotler ways?.....


By ashok choudhury, Freelancer, Freelancer  | 03 22 2010 13:11:54 +0000
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Multiple entry of a particular product in various name makes the consumer to determine its value. Its therefore, the trend moves from brand to consumer to individual. As an entity, its his prerogative to decide what he intends to use. Decision making involves obviously the value. No doubt its value & human being considered high in Marketing3.0. As long as value is there, the marketing will boost up. Value can be in any dimension not necessarily its utility. Anything that makes him satisfied- may be price, availability, use, access to obtain etc. This kind of market study through survey will, certainly gives best results.


By KALIYAMOORTHY , Oil & Gas Area Coordinator, Undisclosed  | 03 20 2010 14:11:51 +0000
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Philip Kotler still has it in him! 

Marketing 3.0 : Its about Profitability, RealAbility and SustainAbility... Value to its customers and Creativity.

Traditional marketing has really been stagnant for years, but the consumers have changed. They have become more aware, have tonnes of information and know where to find about any product even before it comes to the market.

Marketing 3.0 is def the future, its about passing on information within a community, creating buzz, and reaching out to the costumers.

Probably, this is going to be the new way of creating a brand community!


By Varun , Ideator  | 03 19 2010 16:12:41 +0000
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Let us understand the consumer first, there was time consumer would go and buy without thinking much about all parameters, today he is more suave, intelligent and wants to have a product which is best in most parameters, of course depending upon his pocket.

As a product designer the wishes have changed, customer is king inversely the producer also wants to provide best value addition to the customer. Concepts change with times and anything which profits both is laudable and must be cashed upon.


By rasik upadhye, dyputy manager, idbi fortis  | 03 18 2010 12:20:33 +0000
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Definitely, Mkting 3.0 is Value Driven. Which is for sure the decision maker for current economic(Oligopolistic) times. Mkting 1.0 was for monopolistic times.... even Mkting 2.0 was not consumer oriented it was shareholder value that companies worked on. However now, the consumer empowered with social media, that means even a diminutive fallacy from company can rule out companies Brand equity in many sectors.

So we need to remember the companies only respect the powerful, in the times when they were powerful they respected themselves. When their shareholders were powerful shareholders were respected. But now the consumers have been empowered by Internet so they would try every bit of their cost to convince the consumers that their value is important to them.

Lastly, Consumer Value is always a long term strategy and the companies who have been following consumer value as their mission have sustained through tough times, for sure.


By Dhiraj Wohra, Dy. Manager, Centum Learning Ltd  | 03 18 2010 10:38:58 +0000
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"value proposition " and  " brand appeal" is new marketing phenomenon,social networking sites have become new platform for brands to communicate with consumers and provides them platform to keep their views .better value delivery and effective communication through "apt platform" is key to serve new age consumers.there many local brand be it of restaurants ,shopping malls or youth brands are increasingly opting for facebook,twitter,etc as there media to reach targeted consumer.


By kawaljit kaur, pgdbm student , Mount Carmel Institute of Management  | 03 18 2010 10:28:46 +0000
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In my childhood a radio in a village was luxury. I remember people from our surrounding, used to gather at my home for listening Radio in the evenings. When the television started marketing in India, I have offered a television for my father. MY father said I cannot carry this equipment every evening out the house for public watch and take it back. Now the present situation is changing, our body parts can be replaced as per requirement. We the human are growing through technology , the manufacturer can assemble the product as per our requirement. recently I have ask for an estimated price for a water maker from air. Other than their standard items published for marketing, they gave me proposal for my actual utility. so this is the future marketing.  


By George Varghese, Proprietor, Jecyees  | 03 18 2010 03:25:11 +0000
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modern talking :: by the rivers of babylon.............


By Ajay Ziz, Dy. Registrar,, University of Jammu  | 03 17 2010 09:46:55 +0000
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Modern marketing is the way forward in creating value addition for the consumer beyond orthodox concepts in the modern world of consumerism with an objective to bring in the human touch necessary to create wonders for a business.


By Subhasis Bhattacharya, Sr. Manager Operations, Narayana Hrudayalaya  | 03 17 2010 09:42:33 +0000
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The new concept will help in adding more value to the way businesses are run today. Customers will get more importance & better added value services. Companies will work on innovating new ideas in order to cater to their customers in a much better way. As a whole this concept will completely change the way businesses are done today.

 Thus, I think this concept will change the future of marketing.


By Sujatha srivastava, Associate/Senior Associate, AT Kearney  | 03 16 2010 10:17:08 +0000
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I agree with Mr.Purvi Ghose. The company has to dance according to the tune of the customers/buyers. If anybody wants to be successful in selling the products, he should first give what the customers/buyers want. It is give and take policy only.


By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 04 05 2010 18:31:24 +0000
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Greetings for every member of this group. I have joined new and also new in terms of industry experience and professional debate. With my humble view, I would like to say that marketing is a constant endevour towards settling down with the frickle minded attitude of the consumer. it hardly denotes any ongoing concept. new concept is always good to measure the momentum of marketing, but it only works for the time being. this concept can only be treated just like another marketing myopia where a pager could not see the mobile or a kirana store cannot see the retail chain.enhancing customer value, timely measurement of customer's latent need were always there in marketing. nothing new in this but the new should be to gauge the uncertainty of the customer mind?do we have something to ensure that?


By Biswarup Chatterjee, MBA/PGDM student, Graduate School of Business&Administration  | 04 05 2010 17:45:10 +0000
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Yes , to some extent value has to extended to offerings.. But now it not only the value for the product but the the level of service the product is attached.. Many high end products .. Still are not being touched by the consumers Bcoz.. of  the  after sales services are.. doubtful  .. Fabia -SKODA the new car in the segment seems to be the good value for many.. but Still the issue is still there..


By Sushil kaul, Zonal sales manager, Mother Dairy Inda Limited  | 03 28 2010 08:40:18 +0000
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this will not change the marketing, but will be follwoing same old business working ...... it has to be innovated with something that is more valuable and save cost for a whole segment in an organisation


By Malcolm , The Next Generation Of BUSINESS  | 03 26 2010 19:28:16 +0000
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Nope because it is just re-inventing the wheel to bring out a new concept. Any product that followed the core concepts of branding, r&d, value for money and quality will survive in the market place. It is just now that people have started looking at value seriously given financial condition that the world is in. Even so much as to make a premium brand like Marks & Spencers relook at their prices. Many luxury brands in the fashion segment have also followed suit and dropped their prices in panic. But the brands like Zara and Debenhams which retain their upmarket value will always survive as long as their core is not diluted.


By Jaygopal Raghavan, Marketing Manager, Landmark Group  | 03 24 2010 18:15:19 +0000
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Makrand... I also agree with You.

Its going to be the same OLD WINE IN A NEW BOTTLE, scenario.

According to me... Finally Marketing will be absolutely Home Based, as far as the Consumer is concerned.

Thats why today in Advertising it is the 'Direct Marketing' Concept which has an upper hand & more n moe Ad. Budgets are being diverted to direct marketing.


By Naushad H.L., Creative Director, MAD COMMUNICATION  | 03 22 2010 10:47:52 +0000
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May be the some more wrods are added to the vocablury, no new value addition is possible or drastically different approach not feasible. Marketing is product, concept and customer based and will remain so. Within this all value additions are done


By ravi vyas, sales and marketing, IFB Industries Ltd  | 03 22 2010 09:44:19 +0000
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GIVE VALUE FOR MONEY... WITH A HUMANITARIAN TOUCH ! With Inflation firing on all guns, it is time every consumer will look for 'Value for Money', or the Best Buy available in the market. Competition is so stiff, that the consumer can only end as the winner & the Companny which cares for Him ( consumer), both in terms of giving Him Value for Money & Boosting His Ego with a Humanitarian Touch... WILL WIN HANDS DOWN !
By Naushad H.L., Creative Director, MAD COMMUNICATION  | 03 22 2010 06:01:21 +0000
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There maybe a new thought process towards consumer habits and value offerings but I do not reaslly believe that this IS the new way of marketing!!

Marketing has never really been value based, it is always consept based and TG centric in terms of the offerings. Its sales that adds value in terms of consumption for the product/services/brand. These are often found on ground or even on value based commercials. These arent exactly value offerings but more for stock clearances. The ground promotions and events are more consumer focussed and offer some value to the buyer!!

I agree with you Purvi!


By Makrand Bhave, AGM - Corporate Business, E18, part of Network 18 Group  | 03 17 2010 07:43:39 +0000
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