(1) The Changing Marketing Landscape PDF

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Lecture 1, Semester 1...

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The Changing Marketing Landscape Rupert Murdoch notes - ‘the world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.’

Uncertain Economic Environment In 2008 the economy experienced a meltdown like no other, stock markets plunged, and trillions of euros of market value was known to evaporate. ! This led to rising unemployment, devaluation of homes, a severe credit crunch and people short of income. ! In response to this and a more aware consumer market of what they were spending, discounted stores such as Lidl and Aldi as well as luxury brands such as Lexus and Montblanc have realigned their marketing strategies to adhere to these changing wishes. ! Companies new strategies focus around expressing the value in their value propositions. Focusing on value for money, practicality, durability and the worthiness of a life-long investment in a brand or product rather than just a one off purchase. ! Even luxury brands are adapting their strategies as even the rich are becoming conscious of a good investment. For example luxury diamond marketer Dr Beers has adjusted its iconic ‘a diamond is forever’ promise by cleverly adding ‘Here’s to less’ towards the end of the promise. ! The challenge stands to balance the brand’s value proposition with he current times while also increasing its long term equity - too many cuts can damage a brands reputation. ! The decrease in an economy and the money people have to spend can be seen as a bonus and opportunity for brands, for example when 40% of consumers said they weren’t eating out, the fast food markets and supermarkets can take advantage of this and produce cheap meals which have similar properties or aim to meet a home style eating out dining experience for less. !

The Digital Age ! The digital age has provided marketers with exciting new ways to learn about and track customer needs. ! The Digital age has also provided new ways with relation to advertisement, now boasting through online advertisements and through. This shift means that marketers can no longer expect consumers to seek them out. ! The most dramatic digital change has been that of the internet. Online marketing is now the fastest growing form. !

Sustainability Marketing - the call for more Social Responsibility Marketers are now focusing more on social values and responsibilities alongside the very earth that sustains us. ! Worldwide consumerism and environmentalism movements mature, today’s marketers and being called to develop sustainable marketing practices.

Companies such as marks and Spencer’s practice ‘caring-capitalism’, this means setting themselves apart by being civic minded and responsible. They build social responsibility and action into their company value and mission statements. ! Not-for-profit Marketing Schools, hospitals, museums, zoos and other not-for-profit organisations face stiff competition for support and membership so therefor have turned to marketing and certain marketing strategies to boost this. ! For example, WaterAid, they ran emotive television advertisements and used video blogging to spread the message about dirty water in order to gain donations and the knowledge of the worldwide problem. ! They also ran a 24hour ‘tweetathon’ from ‘Australia to Zambia’....