EMAIL
With the Internet and the Web, businesses need to adapt a new perspective on strategic marketing that is not so narrow and tactical. The concepts that supplement the traditional marketing concepts of “Product, Pricing, Promotion and Placement” are Personalization, Participation, Peer-to-Peer and Predictive Modeling. Today, these are the directions of cutting edge online marketing is advancing.
“Personalization” now takes on a whole new meaning referring to customization of products and services through the use of the Internet. Emerging technologies will continue to push this idea forward.
“Participation”, is to allow customers to participate in what the brand should stand for; what should be the product directions and even which ads to run. This concept is laying the foundation for disruptive change that we have yet to see the full impact with the degree of democratization brought about by this idea. By enabling each of us to create and publish our own stories, the power of deciding what we read; listen and watch has spread from a handful of media companies to anyone with a camera, a connection and a computer.
“Peer-to-Peer” refers to customer networks and communities where advocacy happens. The historical problem with marketing is that it is "interruptive" in nature, trying to impose a brand on the customer. Take for example TV ads, which pushes their own ideas of what brand is without engaging the customers. These "passive customer base" will ultimately be replaced by the "active customer communities". Brand engagement happens within those conversations. P2P is also referred to as Social Computing and will likely be the most extensive change in the future of marketing.
“Predictive Modeling” refers to neural networks algorithms that are being successfully applied in marketing problems.
Marketing in the past focused mainly on basic concepts, and primarily on the psychological and sociological aspects of marketing. Competitive advantage was created by directly appealing to the needs, wants and behaviors of customers, better than the competition. Successful marketing was based on who could create the better brand or the lowest price or the most hype. Marketing in the future will be based on a more strategic approach to competitive marketing success. Los Angeles Web Design expands upon traditional marketing by consciously building and allocating resources, relationships and business models for your company that your competitors will find hard to match.
ResourcesCompanies with a greater number of resources than their competitors will have an easier time competing in the marketplace. Resources include: financial (cash and cash reserves), physical (plant and equipment), human (knowledge and skill), legal (trademarks and patents), organizational (structure, competencies, policies), and informational (knowledge of consumers and competitors).
RelationshipsSuccess in business, as in life, is based on the relationships you have with people. Aggressively build relationships with consumers, customers, distributors, partners and even competitors if you want to have success in today's competitive marketplace.
Business ModelsThe concept of product vs. product in competitive marketing is dying. Think business model vs. business model. Business model innovation can make the competition's product superiority irrelevant. Business model innovation allows a marketer to change the game instead of competing on a level playing field.
Customer focusMany companies today have a customer focus (or customer orientation). This implies that the company focuses its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the sense of identifying market changes and the product innovation approach.
In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for this approach is that there is no point spending R&D funds developing products that people will not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.
