Post on 16-Aug-2015
transcript
Important changes in marketing macro environment such as 1.Globalization2. Market fragmentation3. growing consumer awareness about environment4.The explosion of social media has led to many shifts in Marketing namely..
#1 Reengineering
Appointing teams to manage customer-value building processes and break down walls between departments
#7 Merging
Merging with firms in the same or complementary industries to gain economies of scale and scope
#9 Accelerating
Designing the organization and setting up processes to respond more quickly to changes in the environment
#10 Justifying
Becoming more accountable by measuring , analyzing, and documenting the effects of marketing actions
#13 Broadening
Factoring the interests of customers, employees, shareholders and other stakeholders into the activities of the enterprises
#14 Monitoring
Tracking what is said online and elsewhere and studying customers, competitors, and others to improve business practices
Consider, Toyota Prius..Toyota predicted sales of 3,000,000 cars within five years of launching
its gas and electric hybrid Prius Sedan in 2001.
But, By 2004, The Prius had a six month long waiting list !Moral of the story : Functionally successful new products that consumers see as good for the environment can offer enticing options ! Marketing and Products have undergone many important shifts.
Now more than ever, marketers must think holistically and use creative win-win solutions to balance the ever rising demands !
Created by Aishwarya Kandukuri, IIITD&MK during an internship by Prof. Sameer Mathur, IIM Lucknow.
www.IIMInternship.com