technology is the heart of changes and evolution in marketing

technology is the heart of changes and evolution in marketing

Marketing

Marketing has evolved over the years through various stages encompassing marketing1.0, 2.0, and 3.0 with different opportunities. Understanding the standpoint of each was informative and transformative individually and organizationally. Marketing practices that focus on the product-centric era as the first stage of marketing evolution. The second marketing stage incorporates information technology to make decisions and designing products to meet customer needs. Operating under the analogy that “the customer is king” is the customer-centric approach that depicts customers as passive targets (Kotler, Hessekiel, & Lee, 23). The third, Marketing 3.0, objectives to resolve the shortcomings of the customer-centric approach by proposing the value-driven era in marketing. I have learned that technology is the heart of changes and evolution in marketing shifting product, customer, to value-centered marketing strategies.

My aha moment came at appoint of marketing 3.0 as a nexus of collaborative, cultural, and spiritual marketing perspective. The marketing efforts were categorized into the age of participation and collaborative marketing that incorporate a significant level of technology, such as social media, to ensure it reaches optimal potential customers. The objective of the marketing approach is to make the world a better place. The alteration heavily influences it in consumer behavior and attitude in different eras such as globalization paradox (cultural marketing) and age of productive society which adopt the human spirit marketing. Marketing is critical and can be deployed to improve society by ensuring quality services and products are available for use. One can use the approach of collaborative marketing with technology as the primary driving force, cultural marketing that is influenced by vices such as political, legal, economic. Sociocultural values resolve the paradox in the global market and market focus in the age of productive society and human spirit marketing to improve society and make the world a better place.

2. Blue Ocean Strategy

Strategic management is not the same anymore with the introduction of the Blue Ocean Strategy. It shifts the focus of the organization from competition to designing an approach to exploit new opportunities and unexploited fields and markets to improve the performance of the organization. The smartest aspect of Blue Ocean Strategy entails its main cornerstones, which are value innovation, which renders competition irrelevant, thus, opening new and unexploited market spaces (Kim, & Mauborgne, 23). The goal of value innovation in the blue ocean is to minimize expenses and maximize performance encompassing profitability, value, and overall quality for consumers.

Aha moment was making a value innovation strategy that requires a whole system approach alignment of organization utility, cots, price, and human resources. The levels of value innovation differ from department and industry to another, for instance, structuring organization cost structure to improve the current cost leadership strategy without altering the utility proposition of its offering. Blue ocean strategy can be used in different ways to resolve issues facing organizations, individuals, and society as a whole. Value innovation is breaking market boundaries and industry structure through reconstruction and create new best practices policy by realigning the current value cost trade-off. Creating a blue ocean strategy to save the business or institution from turning red is instrumental. It helps in improving the performance of the organization through the exploitation of uncontested market space, creating demand, among others.

3. Corporate Social Responsibility

Corporate social responsibility is not the primary responsibility of business ventures that seek to optimize profits. In the business organization, corporate social responsibility is a strategic move to gain public acceptance and establish a stronghold position in a competitive market place. It holds two broad perspectives in the field of corporate social responsibility, including marketing oriented and expressing and advance corporate values and objectives. Marketing oriented corporate social responsibility seeks to cause product and service promotion, corporate social marketing, and cause-related marketing in the firm. CSR is rooted in the commitment to improve the community’s well-being demonstrated via discretionary business contributions and practices of corporate resources.

The Aha moment is illuminated contribution to community health, safety, education, employment, the environment, community and economic development, and other basic human needs and desires of the community. Corporations support come in the form of cash contributions, promotional sponsorship, paid and earned media support, grants, in-kind contributions, employee volunteers, technical expertise, and access to established distribution channels. Applying corporate social responsibility as a strategy in both marketing orientation and corporate value is proved to work effectively to improve the performance of the corporation and improve its brand in the market.

4. Transnational Marketing

It’s a marketing strategy that targets to taken business beyond borders of nations. Transnational marketing is understanding and addressing consumer wants, needs, and desires in their countries of residence and beyond in a borderless cultural situation using synergies that arise across national borders and transfer of experience, advantage, and expertise shared between markets (Sirkeci, 56). transnational business operation function in two or more nations based on transnational mentality and organizational structure sustaining the target market resources and environmental provisions satisfactory exchanges among participating parties. The understanding of the concept and perspectives of transnational marketing is vital and awakening. The organization deploys a transnational marketing strategy based on its resources to cultivate transnational organizational mentality and a stable marketing strategy.

The levels of transnationality in an organization are influenced by marketing strategy, a marketing plan that entails decisions regarding marketing mix, among others. Applying a transnational marketing strategy is a vital step in taking the business to the global market and reaching optimal customers without restrictions. Transnational marketing strategy is the highest marketing goal an organization can ever achieve, and it improves the performance of the organization in terms of competitiveness, market share, and sales/profitability performance. Consumers have access to a wide range of quality products and services due to transnational marketing.

5. Quality Improvement

The product and service quality of the organization promotes the performance and development of the organization. Improving the quality entails eliminating the infectives, and defects from the product or system of production. The quality improvement approach adopted in this section aligns with Six Sigma with the primary goal of eliminating defects and waste by streamlining and ameliorating business processes to improve both quality and efficiency. The approach is essential because it guarantees 99.9996% of production to be free from defects (Kotler et al., 236). Six sigma quality improvement approach was initially designed to be deployed in manufacturing, and many companies across different industries have picked it up to increase the reliability of service and product delivery to clients.

Six sigma approach involves identification and removal of the variables causing defects and minimizing process variability to improve the quality of output. To realize the desired results, use six-sigma along with a set of quality improvement techniques to align resources for a quality outcome. It meticulously uses statistical tools for evaluation and analysis to get the righty root cause of the variation. The tools common for the strategy is to attract the customers and increase the market size of the company through quality improvement.

Work Cited

Kotler, Philip, et al. Marketing: an introduction. Vol. 1. Englewood Cliffs, NJ: Prentice-Hall, 1990.

Sirkeci, Ibrahim. Transnational marketing and transnational consumers. New York, Heidelberg, London: Springer, 2013.

Kim, W. Chan, and Renée Mauborgne. Blue ocean strategy, expanded edition: How to create uncontested market space and make the competition irrelevant. Harvard business review Press, 2014.

Kotler, Philip, David Hessekiel, and Nancy Lee. Good works!: Marketing and corporate initiatives that build a better world. and the bottom line. John Wiley & Sons, 2012.