Abraham Alapatt gives his set of 10 mega trends which he believes are Transforming The Market today, and why marketers need to adapt to them
In today’s world, everything has to be quick and seamless. Even the classical brand and marketing concepts are being rewritten completely. Here are 10 mega trends which I believe are transforming the market today and that we, as marketers, need to continually adapt to.
1. We cannot control what messages go out to customers: Social networking, virtual communities, blogs, mobile, et al, have ensured this. So, just make sure you have a lot more good messages than bad to share.
2. The power of social networks has multiplied manifold: Harnessed by technology, the influence of social networks is now, both a potent marketing weapon for those who use it well and a dangerous minefield for those who don’t.
3. Increasingly, customers will try to find you – not the other way round: So, you need to be easily visible to succeed. Use tools like search engine optimisation, listings, key words/tagging, wide retail network, kiosks, et al, to maximise your visibility.
4. DIY (Do it Yourself) customers – who want to evaluate products and services without an intermediary and make decisions themselves will become the norm, especially in services: Marketers should merely be facilitators and providers, not sellers or hawkers.
5. Customers want to own and influence brands, and not the other way around as it was traditionally: Let ownership transfer happen without hindrance. Nike, for example, in US borrows design cues for the next season by inviting youngsters (playing basketball in their neighbourhood) to pick new shoes from an open dumpster, and noting down which designs they go for first. They call it “Bro’ing” (marrying “borrowing” with “bro”). Apple is another cult brand that demonstrates this – Apple users are so involved with their company’s new products that they both ensure their success and/or failure – faster than their rivals. So, Apple knows real quick whether they have a winner on their hands or not!
6. Customers want to be able to choose/filter their media & media environment and not be bombarded. Privacy (or perceived privacy) is critical: Anti spam, DND listings, HD DTH subscriptions without ads, DVRs are symptoms of a growing trend, especially with more affluent customers, who want to filter their media exposure every way they can. Decide time, place, content and delivery to suit their mood and convenience.
7. Young like that: With a young demographic increasingly being the largest consumers, every brand is trying to be young, at least in imagery and metaphorically.
In today’s world, everything has to be quick and seamless. Even the classical brand and marketing concepts are being rewritten completely. Here are 10 mega trends which I believe are transforming the market today and that we, as marketers, need to continually adapt to.
1. We cannot control what messages go out to customers: Social networking, virtual communities, blogs, mobile, et al, have ensured this. So, just make sure you have a lot more good messages than bad to share.
2. The power of social networks has multiplied manifold: Harnessed by technology, the influence of social networks is now, both a potent marketing weapon for those who use it well and a dangerous minefield for those who don’t.
3. Increasingly, customers will try to find you – not the other way round: So, you need to be easily visible to succeed. Use tools like search engine optimisation, listings, key words/tagging, wide retail network, kiosks, et al, to maximise your visibility.
4. DIY (Do it Yourself) customers – who want to evaluate products and services without an intermediary and make decisions themselves will become the norm, especially in services: Marketers should merely be facilitators and providers, not sellers or hawkers.
5. Customers want to own and influence brands, and not the other way around as it was traditionally: Let ownership transfer happen without hindrance. Nike, for example, in US borrows design cues for the next season by inviting youngsters (playing basketball in their neighbourhood) to pick new shoes from an open dumpster, and noting down which designs they go for first. They call it “Bro’ing” (marrying “borrowing” with “bro”). Apple is another cult brand that demonstrates this – Apple users are so involved with their company’s new products that they both ensure their success and/or failure – faster than their rivals. So, Apple knows real quick whether they have a winner on their hands or not!
6. Customers want to be able to choose/filter their media & media environment and not be bombarded. Privacy (or perceived privacy) is critical: Anti spam, DND listings, HD DTH subscriptions without ads, DVRs are symptoms of a growing trend, especially with more affluent customers, who want to filter their media exposure every way they can. Decide time, place, content and delivery to suit their mood and convenience.
7. Young like that: With a young demographic increasingly being the largest consumers, every brand is trying to be young, at least in imagery and metaphorically.
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Source : IIPM Editorial, 2011.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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