Future Marketing Concept Essay
Introduction In the changing world marketing is becoming more challenging and marketers are striving to find out new ways to keep pace with the more demanding markets. Future marketing will lead by the big ideas and innovations. Consumer will become knowledgeable about the products and their rights. It will change the consumer behavior and their patterns of consumption. Thousands of researches are conducting by marketing researchers to predict future market and develop the new ways of marketing. In this assignment we tried to forecast the future marketing strategies and few ideas based on our perception.
Intelligent and Communicating Packaging Most important tasks of packages will be protection of the product and maintenance of the packed contents and as a marketing aid. In the future, advances in packaging technology will enable packages to perform new, more advanced task. The package can be actively improving the product quality, Intelligent package will able to give information about the product quality directly, but also on the requirements of product quality; the package integrity and its head space gases and the storage conditions of the package.
Some intelligent packaging concepts, mainly time-temperature indicators, will be commercially available and their use will increase constantly. New concepts of package leak indicators and product freshness indicators will be patented and it can be expected that new commercially available products will be available in the future. It can also be expected that the development of these intelligent packaging systems will benefit from the developments in biotechnology, electronics and sensor technology. Pull Promotion Mix Strategy
Now a day marketers can choose form two basic promotions mix strategies Push strategies and pull strategies. A push strategies involve pushing the products through distribution channels to final consumer but in future marketing the distribution channels like distributor, wholesaler, retailer will run by the company itself and consumers will be knowledgeable and well informed about the products. That is why there will be no need to follow push promotion strategies. Future marketers will follow pull promotion mix strategies to build the demand of consumers.
Measurement and Accountability Marketers are dissatisfied with their present ability to measure almost all marketing campaigns. The old adage about not knowing which half of the marketing budget is being wasted still rings true for many clients and their advertising agencies. But in the future marketing there will be a perfect method of measuring the ability of marketing campaigns because there will be no need to sample survey. All necessary data will be in the hand of researchers.
Data will be collected and stored automatically in the computer system. Researchers will able to enter and use those data any time from computer system. Say for example we cannot measure accurately the advertising impact on sales because lack of information about reach potential consumers but in future marketing this information will be available because of technological advancement. Future marketers will know the relationship between marketing efforts and their effect on retaining customers. Robots will be used in direct marketing:
In a morning you will woke up by hearing the sound of door bell, after opening the door you will see a good looking robot says good morning this will occur in the future. Robots will be used in Direct marketing communication with carefully targeted individual consumer. The robot will have personal identity of each customer. The Robots will be programmed by companies that program determine the area and the activities of robots. These Robots will be intelligent that it will not only carry the advertising messages but also be able to conduct two-way communication.
Robots will capable to collect customer’s comment, purchase order, information and store that information. Robots will send that information to a server and it will help the marketing research. Advertising spending: At the present days companies spend billions of dollars on advertising but in the future marketing era spending on advertising will be hundred times more than now. Dramatic change will be happen in future marketing advertisement and promotion by the big ideas that will innovated by the marketers.
Here the graph shows in year 2050 which areas of media will get how much spending. This chart shows the future marketing advertising will focus on events and sponsors because in this way the companies will get maximum exposure of their products and create strong position in the consumers mind. Marketers will spend 40% of total advertising expenditure in this area. Second largest spending media will be the Internet because of its two way interactive communication facility. The marketers will spend 35% of total advertising budget on Internet.
Television will get less priority but it will remain the third important way of reaching the target consumers. Advertisers will spend 10% of their huge budget. Print media, Radio stations and others medium will get 5% each from the total advertising budget. E-mail advertising: In the future marketing e-mail will remain the most convenient way of communication. E-mail advertising will be the highest sector of spending. We are not talking about the junk mail. There will be a new way of email advertising.
Every e-mail will carry a personal message by any normal user for there own purpose and at the same time it will carry a small advertising message or logo of a company at the bottom of the page. This logo or message also work as a link of the company’s website. Advertiser will pay to the e-mail service providers a huge amount of money for those small but enormous number of advertising. The advertisement will be highly selectively segmented target consumers. E-mail can be accessible any time from any small devices like mobile, ipod and even from the wristwatch. Conclusion
Future marketing will care about socially responsible marketing and the future marketers will have a vast experience and marketing will adopt the changes of consumer perceptions. Future marketing will become more effective and efficient in fulfilling the demand of the consumers before they realize their demand. The future marketers will able to satisfy their consumers in a way they will able to build long-term strong customer relationship. ———————– Sponsors and events Internet Broadcast TV Radio Print (newspaper & magazines) Outdoor 40% 35% 10% 5% 5% 5%