Marketing in the digital age

“Target Marketing” Problem with this term?  consumer is not the enemy

“service dominant thinking”

Eco : production and consumption , all business is driven by people consuming things,

Consumption is the heart of marketing.

People consume people “celebs”, services.

Marketing is the heart that tries to drive the behaviour.

I B schools consumer behaviour is psychology.

Consumers first “ marketers don’t do it very well, whole bunch of data and analytics, Engg very
product oriented?

What need does it satisft, Marketing they call it growth hacking> they think of it at sales and
balllalala, but really it comes at the beginning.

Consumption is a sole end and purchase. Consumption is using thing,

Cusp of change in marketking . now data ends at point of sale. After that we don’t know what
happens . our data trail ends at POS.

Now we have digital connectivity . data is now available through appliences with wifi Bluetooth eg :

Whirlpool machines with wifi ,

Sales ? purchase data? Consumption data

Spend a lot of ti,e In services

Big driver is digital tech .

Beying music was a product now we consume it as a servise, shit becayuse of digitation.

Turns markting of products in to service , “INTERINET OF THINGS”

Connection of products with networks

Demeans” consumer spending

Its an over simp to say marketing

Primary; DEMAND FOR CATEGORY and Secondary demand: Demand for a specific brand .

Brands are overemphasized. If u wanna write a book write it on branding . tendency among think
brands are so paramount they forget about the product and goals.

Products fail ,,, brand exist in the mind of the consumer

Ususally drivers are leading brands, Stand by growing that category , getting more people to
consume. “ penetration” get people to purchase things more

Social And culytural aspects.

Social and cultural aspects

We often declare who we being to .

Who would wear a cococoala tee?

Its not the brand, belongingness, willingly do thinhd diffetent

The theory of the lisure class 1899, - Thorstein Veblen(the weblen Effect)

# kids in uniforms.Students all wore the same brands , feeling of belongingness

Social Class-

Consumption

- Conspicuous

Macro Consumer behaviour

Culture –

David foster wallice grad speech

What is water-? Speech

Culture is an enormous driver

Macro vs Micro

Ad agencies build brans and strategies ( it figures out where people are going and attach the brand
to it)

GLOBAl CONSUMER MARKETS

All agencies had global and world wide , driver of globalization

Success of starbucks driven by advertising.

What is marketing?

- Marketing is a social and managerial

process by which individuals/groups

obtain what they need/want through

creating, offering and exchanging

products of value with others

(Kotler, 1991)

1. Marketing is an organizational

function and a set of processes for

creating, communicating, and

delivering value to customers and for

managing customer relationships in

ways that benefit the organization

and its stakeholders (AMA, 2004)

Marketing is the activity, set of

institutions, and processes for

creating, communicating, delivering,

and exchanging offerings that have

value for customers, clients, partners,

and society at large. (AMA 2008)

Northwestern MEDILL

3 definitions? Why

Originally it ment : getting product to market .

“marketing in 1920’s”

Now called suppily chain , Place,

How businness come together to sell products

Marketing Definition Today

What's going on with these definitions?

-Attempt to broaden marketing beyond the

Marketing Department (McKinsey Reading)

-Focus on longer term (cash flow over time)

versus immediate transactions

-Represent all organizations not just businesses,

i.e., politics, nonprofits (Kotler's broadened

concept of marketing).

“customer relationship management”

Constituency Theory
“paul Anderson”

Comes from management

Marketings role is to represent consumer.

Marketing Management 4 P'

1. Consumer Wants
2. Market Segmentation
3. Product Strategy and Brand Positioning
4. Pricing, Distribution, Sales, Promotion
5. Purchase Behavior

The Re-creation of Marketing

Marketing management was founded and developed for

an era of mass production, mass distribution and mass

communications

The digitization of media (and much else) requires a re-

creation of marketing concepts

We'll cover the traditional concepts as well as the

emerging ones for the digital era

Northwestern

Marketing concept:
“ted levitt”, odd term because

Consumer orientation

Market orientation

Marketing Concept

The marketing concept is the idea that firms

exist to satisfy consumer wants; not sell the

products they make

Related concepts:

- Consumer orientation

- Market orientation

CONSUMER INSIGHT
MARKETING MYOPIA
People only see the product and market. U travel by traing u only see the train but the goal is
transport

TO this day rails are less patronized, Print news( gone bad)

They cant get outta their own way , tring to salvage news paper . trying to get people to subscribe
but they wont read my kids never read. Newspapers go away.

Key trends affecting marketing

Digitization of media.

I want to connct big data, anything digital throws of data.

Ecosystem

They don’t use much data , unless they \

Survey of 17k people.

Frank mulherns paper ‘ cellphones’

Palantir : spying on the digital world.

Marketing is becoming much more data driven

If u want to work in marketing be good in strategy and analytics

“proud of being bad at math” but its important to be good real upside is in analytics

Data visialization.
Tableu Laern data visual software “power BI”

“hates pie charts”

Key Trends affecting marketing

Built on financial models

Much more emphasis on finance . not been well respected of

Impact of adv is so poorly measure, if u cut back there is decline in metrics of brands

Agencies _ BBDL

Media companies

Devolving media world People

Work within the case