The new marketing realities
2 important questions on The new marketing realities
The 12 key societal forces that changed marketing:
- Network information technology
- Globalization
- Deregulation (loosened laws)
- Privatization (converted public companies to private ownership)
- Heightened competition
- Industry convergence (Industry boundaries are blurring)
- Retail transformation (Store-based retailers face competition from internet so they make entertainment into their stores to make the shop about the experience instead of just a product assortment)
- Disintermediation (Through the increase of e-commerce the consumer buys directly from the manufacturers and retailers the broker(tussenhandelaar) is dissapearing).
- Consumer buying power (increased)
- Consumer information
- Consumer participation
- Consumer resistance (less brand loyalty more price and quality sensitive)
What does the marketing planning process consist of?
- Analyzing marketing opportunities
- Selecting target markets
- Designing marketing strategies
- Developing marketing programs
- Managing the marketing effort
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