Marketing-Insider
  • Home
  • Updates
  • Marketing Explained
    • I: Marketing and the marketing process
      • Definition: What is Marketing?
      • The Marketing Process
      • The 5 Marketing Concepts
      • The Marketing Strategy
        • Market Segmentation
        • Market Targeting
        • Differentiation and Positioning
          • Differentiation
          • Positioning
      • The Marketing Mix – The 4 Ps
      • Marketing Instruments
      • Portfolio Analysis: Boston Matrix
      • Portfolio Planning: Growth and Downsizing
      • SWOT Analysis
      • Definition of Product and Service
    • II: Understanding the marketplace
      • The Macro Environment
      • The Buyer Black Box – Buyer’s Characteristics
      • The Buyer Decision Process
      • B2B Market Characteristics
      • Customer Lifetime Value
      • Customer Relationship Groups
    • III: Designing a marketing strategy
      • How to create a Marketing Plan – 8 Steps
      • The Consumer Product
        • Three Levels of Product
        • 4 Types of Consumer Products
        • Different Types of Consumer Products
      • Product Line and Product Mix Decisions
        • Individual Product Decisions
        • Product Line Decisions
        • Product Mix Decisions
      • New Product Development (NPD)
        • The New Product Development Process
        • New Product Development Strategies
      • Pricing Strategies
        • What is a Price?
        • 3 Major Pricing Strategies
          • Customer Value-based Pricing
          • Cost-based Pricing
        • Additional Pricing Considerations
          • New Product Pricing
          • Product Mix Pricing Strategies
          • Price Adjustment Strategies
          • Initiating price changes
      • Product Life Cycle (PLC)
        • Product Life Cycle Stages (PLC)
        • Product Life Cycle Strategies
      • Branding Decisions
      • Characteristics of Services
    • Interesting
      • New View on Marketing
      • Next-Gen Marketing Tool: Virtual Reality
      • Advertising Evolution
      • The 5 Don’ts of Presentations
      • Successful Mobile Marketing
      • Why Most Marketing Strategies Fail
      • How to create a Marketing Plan – 8 Steps
      • How to write a good Marketing Plan
      • 5 Don’ts of LinkedIn
      • Using Social Media in Marketing
    • SEO
      • What is SEO?
      • How Search Engines work
      • How to do SEO?
      • SEO Rules for 2016
  • About Marketing-Insider
Popular
The Macro Environment – Six Forces in the Environment of...
The New Product Development Process (NPD) – Obtain new Products
4 Types of Consumer Products and Marketing Considerations – Convenience,...
Three Levels of Product – Core Value, Actual Product, Augmented...
Characteristics of Services: What is a Service – And what...
Branding Decisions – 4 Brand Strategy Decisions to Build strong...
Product Mix decisions – Width, length, depth and consistency
Product Life Cycle Stages (PLC) – Managing the Product Life...
Characteristics of the Product Life Cycle Stages and their Marketing...
Cost-based Pricing – Pricing based on Costs
Categories of New Products – What is a New Product?
Market Segmentation Criteria – How to segment markets
Marketing-Insider
  • Home
  • Updates
  • Marketing Explained
    • I: Marketing and the marketing process
      • Definition: What is Marketing?
      • The Marketing Process
      • The 5 Marketing Concepts
      • The Marketing Strategy
        • Market Segmentation
        • Market Targeting
        • Differentiation and Positioning
          • Differentiation
          • Positioning
      • The Marketing Mix – The 4 Ps
      • Marketing Instruments
      • Portfolio Analysis: Boston Matrix
      • Portfolio Planning: Growth and Downsizing
      • SWOT Analysis
      • Definition of Product and Service
    • II: Understanding the marketplace
      • The Macro Environment
      • The Buyer Black Box – Buyer’s Characteristics
      • The Buyer Decision Process
      • B2B Market Characteristics
      • Customer Lifetime Value
      • Customer Relationship Groups
    • III: Designing a marketing strategy
      • How to create a Marketing Plan – 8 Steps
      • The Consumer Product
        • Three Levels of Product
        • 4 Types of Consumer Products
        • Different Types of Consumer Products
      • Product Line and Product Mix Decisions
        • Individual Product Decisions
        • Product Line Decisions
        • Product Mix Decisions
      • New Product Development (NPD)
        • The New Product Development Process
        • New Product Development Strategies
      • Pricing Strategies
        • What is a Price?
        • 3 Major Pricing Strategies
          • Customer Value-based Pricing
          • Cost-based Pricing
        • Additional Pricing Considerations
          • New Product Pricing
          • Product Mix Pricing Strategies
          • Price Adjustment Strategies
          • Initiating price changes
      • Product Life Cycle (PLC)
        • Product Life Cycle Stages (PLC)
        • Product Life Cycle Strategies
      • Branding Decisions
      • Characteristics of Services
    • Interesting
      • New View on Marketing
      • Next-Gen Marketing Tool: Virtual Reality
      • Advertising Evolution
      • The 5 Don’ts of Presentations
      • Successful Mobile Marketing
      • Why Most Marketing Strategies Fail
      • How to create a Marketing Plan – 8 Steps
      • How to write a good Marketing Plan
      • 5 Don’ts of LinkedIn
      • Using Social Media in Marketing
    • SEO
      • What is SEO?
      • How Search Engines work
      • How to do SEO?
      • SEO Rules for 2016
  • About Marketing-Insider
Monthly Archives

January 2019

    How will Marketing change in the Future?
    Marketing Explained

    How will Marketing change in the Future? – Major Changes ahead?

    by Maximilian Claessens 23rd January 2019
    written by Maximilian Claessens

    While marketing literature is largely concerned with optimal marketing techniques and strategies to maximize customer value and capture value in return, little focus is on potential shifts in marketing ahead. How will marketing change in the future? Are there major changes awaiting us for which we should prepare?

    The Customer as the Constant in Marketing

    The one factor that continues to shape the future of marketing is the customer. Despite potential changes in marketing, the customer will stay in the center of all strategies and efforts. However, consumer needs are changing everyday and continually become more sophisticated. When seeking an answer to the question how will marketing change in the future, this is certain: the consumer continues to be at the center, but consumer needs and expectations become more complex.

    Focus on Customer Service

    The customer wants more information, assistance and support – fulfilling his increasingly sophisticated needs and expectations. For that reason, there will likely be a stronger focus on customer service in the future. Assisting the customer in any way and accompanying him over the complete lifecycle is more important than ever. Instead of a single sale, a customer experience is aimed to be sold to the customer. Keeping the customer for a longer period than just one purchase is increasingly focused on.

    Technology

    In order to bind the customer to the firm over the complete lifecycle, it is crucial to understand what the customer wants and how needs evolve. Advancements in technology help marketers to better understand the consumer journey. Many people panicked when they returned to Facebook to see an ad on just what they had been searching for in Google, but technological advancements like this are only a part of what we may expect for the future. Artificial Intelligence is already in play, however, it will get much stronger. Using AI, customer engagement and service will increasingly be automated to assist individual customers at any time.

    Communication

    Answering how will marketing change in the future certainly involves thinking about communication. With advances in AI, also the manner in which people receive assistance will evolve. People now use their phones and devices to type in what they want and what they want to do. With the introduction of Siri, Google Assistant, and Amazon Echo, we have seen how easy it can become to seek support. Clearly, this was only a first step – we will see it everywhere and in a much more advanced way in the future. This introduces a completely new way of communication, and promises a strong marketing channel to reach out to consumers and engage in multidirectional communication.

    Increased Personalization and Targeting

    Marketers in the past used to do research about a target group. They would then develop a style of communication and send out a message to the target group. Conversion rates were clearly not always satisfying. The Internet has already allowed us to get a little closer to what consumers want, and therefore offers the ability to target groups in a much more narrow manner. With tons of information about individuals’ interests, habits and demographics, targeting becomes increasingly easy. And if there is one thing certain in how will marketing change in the future, it is that we will be more and more able to collect increasingly detailed data about the consumer’s interests, preferences and behaviors. This is perfect information for personalized marketing. It is almost certain that marketing will become much more personalized as a consequence. C

    23rd January 2019
    1 FacebookTwitterPinterestLinkedinRedditWhatsappEmail

Popular

  • 1

    The Macro Environment – Six Forces in the Environment of a Business

  • 2

    The New Product Development Process (NPD) – Obtain new Products

  • 3

    4 Types of Consumer Products and Marketing Considerations – Convenience, Shopping, Speciality and Unsought Products

  • Three Levels of Product – Core Value, Actual Product, Augmented Product

  • Characteristics of Services: What is a Service – And what makes it so special?

  • Branding Decisions – 4 Brand Strategy Decisions to Build strong Brands

  • Facebook
  • Twitter
  • Instagram
  • Pinterest

© 2020 Marketing-Insider. All Rights Reserved. Privacy policy | Impressum


Back To Top