How has marketing management changed in recent years

HOW HAS MARKETING MANAGEME

NT CHANGED IN

RECENT YEARS?

THE NEW MARKETING REALITIES

We can say with some confidence that MARKET PLACE isn’t what it used to be. It is dramatically different from what it was

even 10 years ago.

MAJOR SOCIETAL FORCESToday societal forces have created new marketing behaviours, opportunities, &

challenges.

NETWORK INFORMATION TECHNOLOGY

Accurate level of productions.

More targeted communications.

More relevant purchasing.

GLOBALISATION

Easier for companies to market in.

Easier for consumers to buy from.

Almost any country could try to venture.

DEREGULATION

Create greater competition.Create growth opportunities.

HEIGHTENED COMPETITION

Raises marketing cost.Shrinks profit margin.

INDUSTRY CONVERGENCE

New opportunities for

two or more companies.

Helps local Entrepreneurial retailer improve

their product range.

Helps retailer develop service

quality.

RETAIL TRANSFORMATION

DISINTERMEDIATION

May decrease the cost of servicing customers.

 Increase profit margins if total costs are actually

decreased by eliminating distributors

or resellers.

CUSTOMER BUYING POWER

Consumer can compare prices,

features .

Consumers can aggregate

their purchases &

achieve deeper volume

discounts.

CONSUMER INFORMATION

Consumer can collect information about practically anything.

They can access online from anywhere in the world.

CONSUMER PARTICIPATION

Consumer influence peer & public opinion.

Companies invite them to participate in

market offerings to heighten their sense of connection.

CONSUMER RESISTANCE

Many consumer feels that there are fewer real product differences.

They become more price & quality sensitive. They become less tolerant about undesired

marketing.

These slides were created by-

Biswajit Biswas IIT(BHU), Varanasi During a Marketing

Internship by Prof. Sameer Mathur

IIM(Lucknow)

www.IIMInternship.com