they must practice marketing by attraction —creating market offerings and messages that engage consumers rather than interrupt them. Hence, most marketers now augment their mass-media marketing efforts with a rich mix of online, mobile, and social media marketing that promotes brand-consumer engagement and conversation. Question 4 A growing part of the new customer dialogue is consumer-generated marketing, by which consumers themselves are playing a bigger role in shaping their own brand experiences and those of others. This might happen through uninvited consumer-to-consumer exchanges in blogs, video-sharing sites, and other digital forums. At times, these exchanges are not always positive (for example, conduct a search using “I hate…” with any company name to see numerous negative comments). But increasingly, companies are inviting consumers to play a more active role in shaping products and brand messages. Question 5 The major changes in the marketplace are: (1) the digital age, (2) the changing economic environment, (3) the growth of not-for-profit marketing, (4) rapid globalization, and (5) the call for more ethics and social responsibility. The explosive growth in digital technology has fundamentally changed the way we live—how we communicate, share information, access entertainment, and shop. Beyond brand Web sites, most companies are also integrating social and mobile media into their marketing mixes. The Great Recession of 2008 in the United States caused many customers to rethink their spending priorities. In response, companies have aligned their marketing strategies with the new economic reality, emphasizing the value in their value propositions. Marketing also has become a major part of the strategies of many not-for-profit organizations, such as colleges, hospitals, churches, and so on that provide value. Sound marketing can help them attract membership and support. In an increasingly smaller world, companies are now connected globally with their customers and marketing partners. Finally, as the worldwide consumerism and environmentalism movements mature, today’s marketers are being called to develop sustainable marketing practices. Corporate ethics and social responsibility have become hot topics for almost every business, and more forward-looking companies readily accept their responsibilities to the world around them.
Lesson 1 provided an overview of marketing and marketing management. In particular, we described a five-step model of the marketing process. Lesson 2 focuses on steps two and three of this model: the design of a customer-driven marketing strategy, and the construction of an integrated marketing program that delivers superior value. First, however, it is important to understand that in many organizations, marketing is considered to be an organizational function like accounting, finance, research and development, and human resource management. As such, the marketing function has to operate under the parameters that top management sets and must provide information and other inputs to help management with strategic planning. This dual role of the marketing
- Spring '15