We can say with some confidence that the marketplace isn't what it used to be. It is dramatically different from what it was even 10 years ago.
Major Societal Forces
Today, major, and sometimes interlinking, societal forces have created new marketing behaviours,
opportunities, and challenges. Here are 12 key ones.
• Network information technology:
The digital revolution has created an Information Age that
promises to lead to more accurate levels of production, more targeted communications, and
more relevant pricing.
• Globalization:
Technological advances in transportation, shipping, and communication have
made it easier for companies to market in, and consumers to buy from, almost any country in
the world. International travel has continued to grow as more people work and play in other
countries.
• Deregulation:
Many countries have deregulated industries to create greater competition
and growth opportunities. In the United States, laws restricting financial services,
telecommunications, and electric utilities have all been loosened in the spirit of greater
competition.
• Privatization:
Many countries have converted public companies to private ownership and
management to increase their efficiency, such as the massive telecom company Telefonica CTC
in Chile and the international airline British Airways in the United Kingdom.
• Heightened competition:
Intense competition among domestic and foreign brands raises
marketing costs and shrinks profit margins. Brand manufacturers are further buffeted by powerful retailers that market their own store brands. Many strong brands have become
mega brands and extended into a wide variety of related product categories, presenting a significant competitive threat.
Major Societal Forces
Today, major, and sometimes interlinking, societal forces have created new marketing behaviours,
opportunities, and challenges. Here are 12 key ones.
• Network information technology:
The digital revolution has created an Information Age that
promises to lead to more accurate levels of production, more targeted communications, and
more relevant pricing.
• Globalization:
Technological advances in transportation, shipping, and communication have
made it easier for companies to market in, and consumers to buy from, almost any country in
the world. International travel has continued to grow as more people work and play in other
countries.
• Deregulation:
Many countries have deregulated industries to create greater competition
and growth opportunities. In the United States, laws restricting financial services,
telecommunications, and electric utilities have all been loosened in the spirit of greater
competition.
• Privatization:
Many countries have converted public companies to private ownership and
management to increase their efficiency, such as the massive telecom company Telefonica CTC
in Chile and the international airline British Airways in the United Kingdom.
• Heightened competition:
Intense competition among domestic and foreign brands raises
marketing costs and shrinks profit margins. Brand manufacturers are further buffeted by powerful retailers that market their own store brands. Many strong brands have become
mega brands and extended into a wide variety of related product categories, presenting a significant competitive threat.
No comments:
Post a Comment