The changing face of marketing
Must reads on strategic marketing
The future of marketing is fast moving, constantly evolving and a point of intrigue for both B2B and B2C marketers. Has the time come to bury the old paradigm?
#1 – The traditional purchase funnel is kaput
For years, marketers have explained the process of consumer choice narrowing from multiple purchase options down to one with the purchase funnel. But the time has come to say say goodbye the funnel.
→ Read more: The traditional marketing funnel is kaput
#2 – The five Ps of marketing
Product, placement, price and promotion – these are the four Ps of marketing. The 4Ps of marketing, also known as the producer-oriented model, have been used by marketers around the world for decades.
The growing influence of the internet has made these classic principles look a bit archaic in light of the new relationship that businesses have with customers. The time come to rewrite the Ps of marketing!
→ Read more: The marketing mix – The 5 P’s of marketing
#3 – Word-of-mouth recommendations
Word-of-mouth is the most trusted source of information for consumers around the world according to many studies and there is now measurable proof that social voice drives product sales both directly and indirectly.
#4 – Trends that are changing sales
The accelerated speed of communication and customers ability to access information with just a few keystrokes is changing everything – including how customers make purchase decisions.
#5 – Customer loyalty is disappearing in a hurry
The high degree of customer loyalty which was normal in the “good old days” is now just a pleasant memory of times gone by. Now customer loyalty is disappearing in a hurry.
#6 – The consumer decision making process has permanently shifted
Widespread access to the internet, both on traditional devices like desktop and laptop computers and increasingly on mobile devices, has made it easy and natural for consumers to research every buying decision. The normal path from stimulus to store now has a common diversion – Read more
#7 – Forget marketing without the entire customer experience
Customer service may have always been technically important, but today it is amplified by the power of “word of click“ – Read more
#8 – Take customer experience seriously
Build better customer relationships is no longer an optional business initiative. With increased access to information, competition and real-time opinions from other customers, providing an exceptional customer experience is a key piece of running a successful business – Read more
#9 – Trust as an integrated part of marketing strategy
Once upon a time, companies had complete control over their image and branding. By pouring money into advertising, they could effectively steer and control the perceptions of consumers. Unfortunately for companies – and fortunately for consumers – the information revolution transferred this power squarely into the hands of consumers – Read more
#10 – Are brands being disrupted by the Internet
For generations, brands have successfully generated demand for goods and services. But is the disruptive power of the Internet disrupting even this? This would probably be an over-simplification. But! – Read more
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Top 10+ must reads on strategic marketing — https://www.torbenrick.eu/t/r/ftc
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