How Marketing Has Changed
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Table of Contents
Introduction 2 What is marketing? 2 Traditional Marketing: 3 The new 4 p’s: 4 The change: 5 Internet Marketing: 8 Social Media 9 Mobile Marketing (M-Marketing): 10 The Mobile App: 11 Change in strategy 13 The Five Forces: 13 The e-volution: 15 The Future: 18 Conclusion 18 References 19
Introduction
With the introduction of many social networking sites, smartphones, gadgets and improved access to broadband, the face of marketing has undergone a dramatic makeover in the past twenty years and is still constantly changing. “Technological advancement has fundamentally altered the ways most individuals conduct business, make buying decisions, communicate personally and professionally and spend leisure time, and this impact continues to grow and morph into almost every aspect of daily life.” (Hill & Moran 2011:818).This paper will not only look at the new ways in which organisations attempt to capture the attention of potential and present customers with the help of technology through the use of mobile apps and social media websites but also how these new devices are re-shaping whole business strategies.
What is marketing?
For most, the term marketing is just another word for advertising. However, it is much more than this. The term marketing means anything one does to promote and grow a business by not just means of advertising but also sales, merchandising and distribution. Its about increasing awareness. The Chartered Institute of Marketing (CIM) defines marketing as the: “Management process for identifying, anticipating and satisfying customer requirements profitably”.
This definition is summed up by saying it is satisfying customers for a profit. An effective marketing strategy consists of a combination of four marketing strategies which were invented back in the 1960’s and are known either as the ‘marketing mix’ or the 4 P’s which can be summarised in the table (Table 1) below:
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Table of Contents
Introduction 2 What is marketing? 2 Traditional Marketing: 3 The new 4 p’s: 4 The change: 5 Internet Marketing: 8 Social Media 9 Mobile Marketing (M-Marketing): 10 The Mobile App: 11 Change in strategy 13 The Five Forces: 13 The e-volution: 15 The Future: 18 Conclusion 18 References 19
Introduction
With the introduction of many social networking sites, smartphones, gadgets and improved access to broadband, the face of marketing has undergone a dramatic makeover in the past twenty years and is still constantly changing. “Technological advancement has fundamentally altered the ways most individuals conduct business, make buying decisions, communicate personally and professionally and spend leisure time, and this impact continues to grow and morph into almost every aspect of daily life.” (Hill & Moran 2011:818).This paper will not only look at the new ways in which organisations attempt to capture the attention of potential and present customers with the help of technology through the use of mobile apps and social media websites but also how these new devices are re-shaping whole business strategies.
What is marketing?
For most, the term marketing is just another word for advertising. However, it is much more than this. The term marketing means anything one does to promote and grow a business by not just means of advertising but also sales, merchandising and distribution. Its about increasing awareness. The Chartered Institute of Marketing (CIM) defines marketing as the: “Management process for identifying, anticipating and satisfying customer requirements profitably”.
This definition is summed up by saying it is satisfying customers for a profit. An effective marketing strategy consists of a combination of four marketing strategies which were invented back in the 1960’s and are known either as the ‘marketing mix’ or the 4 P’s which can be summarised in the table (Table 1) below: