Sunday, October 4, 2015

Changing Paradigm of Marketing


World is becoming a saturated yet complex marketplace in the repercussions of globalization, now a buyer is globally aware of widely available options and influenced by the technological advancement in the rapidly revolutionizing hi-tech world. Many brands invest in global culture yet others are motivated in targeting the ethnic cultures. 
  In paradigm of change, marketers are exposed to new set of challenges which are being complicated in the series of Geometric Progression so marketers have to be dynamic and spontaneous.  Human brain is influenced by the stimuli and now it is being bombarded by millions of stimuli so it is a biggest challenge of all to be prominent in millions. Marketers have to study cognitive sciences and also have to be technology friendly to identify highly and frequently occurring changes.
  I would like to quote a conversation with one of software engineer friend, my ankle was fractured so with his helpful hand I was on my way towards class slowly and slowly, we intellectually discussed about changes in our fields so I made a point that future of business world pertains to the combination of three fields psychology, marketing and technological sciences. You would have been listening about the terminologies like Computational Psychology, Customer Intelligence and Neuromarketing in which two of three fields are combined and influencing each other, now here I am talking about the combination of all three and I would use terminology naming it Customer Behavioral Intelligence, algorithms' based on human behavior and relating the buying influences of globally and regionally influenced customer.

  As MIT psychologist and big name in mind sciences Dan Airely uses terminology Predictably Irrational which I find appropriate phrase to describe a customer and his buying behavior , human brain is influenced daily by the changes in the environment , changes particularly in the macro and micro perspective , but in it yet prevails sense of conscienceness existed 100,000 years ago. Even it is also a established fact that human brain is the least discovered part of human body. So there is too much to be known about this 3 lbs (approx) universe.

  But most of all, a marketer has to be good at intuitive analysis of market because sometimes the worst lies of this world are the well established facts, I believe that quantitative and qualitative analysis are less significant without the proper establishment of intuitive analysis, it is my personal opinion and many people could disagree who might be the firm believer of statistical proof of every logical decision making. Intuition doesn't mean it has to be irrational but it has to be predictably Irrational. And it is only developed through thorough study and observation of wide range of subjects, which would empower and educate marketer to count on the beats of the society. And explore new areas which are unaddressed in terms to gain the competitive advantage.
  The technology is on the verge of its peak and every single hour bring a technological diversity , rapidly changing hi-tech society is also socializing technologically because physical presence could be costly as the time is valued like gold currency. But this widely occurring changes bring new opportunities and challenges for marketers, e-marketing is also becoming widely accepted phenomenon and companies are working on virtualization the buying experiencing which would not require the travelling hassle but will provide you on your Android or IOS the application of Virtual store .Marketers have to wise enough to work on future ideas and putting advertisements on the appropriate platform. Because in e-marketing involves the risk of spamming and data stealing. Facebook is becoming the phenomenon but what I see future is the Facebook diversifying and beyond socializing it will provide the Life Management Devices impaired with all aspects of persons life. But future is yet to come so competition is increasing day by day.

  The business history is on its peak in terms of completion, this much of competition never existed in human history, and time is of the value, if your competitor is time efficient and you are not then it doesn't matter how much you are efficient in our work, you are just ruined. Because now it's the high time for the saints advice in which he says most important time is now and most important person is the standing in front of you, and important place is here. And adding more I would like to say service delayed is service denied. Time Management in marketing is all about right time in marketing mentioning at right place with right person.

  Marketers are the true revolutionist of this era, and they can set and upset the trends, they can influence the vision of life and they are the stakeholders of the society, when I was child I used to hear the phrase Jack of all, Master of none. Now I rephrased it Jack of all is the master of marketing, a marketer should know about all aspects and should be observant enough to sense the change. Marketers should be the first one to invest in the change. But it must be kept in view that constraint of today's world is not gaining information, it is avoiding and identifying misinformation. There is too much information that it is creating misinformation. Keeping in view the constraints my suggestion to all marketers out there is that Revolutionize with the mastery of your passion.