Archive for June, 2010
Marketing has come a long way in 100 years. It was about 100 years ago that the industrial revolution was cranking up and so was mass production. With mass production came the need to sell all that the economy could produce…and thus was born the modern discipline of marketing. For an early discussion of public relations and marketing click here.
Today’s world of marketing has a number of precursors that give us the opportunity to serve consumers in a direct manner. Just-in-time production and other production techniques have given firms the ability to produce products that are customized to the needs and wants of the customer. Meanwhile the internet has given companies the ability to communicate directly and to do business effectively and directly with customers. From DELL to Porsche, customers are getting exactly what they want.
The function of marketing today is about assuring production of goods as consumers want them and working within the firm for efficiencies to assure a strong value proposition. Today’s research of customers helps firms to niche the marketplace to target customers better. Much of research has been about ASKING questions…today, marketing research starts more with listening, and especially listening on the Internet. (See www.geeyee.com)
In 1936, the AMA was formed as a coming together of two predecessor groups…a group of economists and a group from psychology. Consumer behavior and market mechanics are still at work in modern marketing…and these continue to evolve, ever faster then before.
Rainforest Café … Cabella’sAquarium … The APPLE Store … Product Launch Events .. World Cup Soccer
The common element of the items above is that each creates a situation for the customer to get involved in something that is part of their lifestyle. Today’s marketer needs to create experiences to gain engagement. Experiences engage customers and show a level of empathy about the lives of potential customers. When MasterCard wanted to go into Latin America, it became involved in the one experience that means so much to them, soccer. With regard to experiences we need to listen, comprehend, and ACT.
When a major game company wanted to launch it new flagship product, it created the BUZZ in the heart of the marketing communications world, New York City and Times Square. The BUZZ over this product has been nothing short of phenomenal. Cabella’s is not just a great merchandiser for the outdoor’s enthusiast, it is a destination with an aquarium, an African Wildlife exhibit and a restaurant featuring game. It is an experience…a destination.
Experiences engage the customer, create excitement, Customers feel they are understood and cared for. Their inclination is to buy from the firm that enhances the relationship through engagement.