Besides the fact that it is THE luxury event of the yearMay 27, 2015 9:48
2010: Trends and realities, Part II
Gulf Marketing Review magazine offers some insights that marketers might find handy to use in the New Year, Part II.
January 6, 2010 1:54 by Precious de Leon
Taking your brand to as many touchpoints as possible is a function of the changing definition of customer loyalty. Nowadays, because there are so many product choices, a satisfied customer is not necessarily a loyal one, so brands need to keep the conversation going.
The product choice quandary is compounded by standardization of features, such that in some cases branding and marketing are the only apparent differences between products – category atomization. Then, as products become multifunctional and more homogenized, they overlap several categories. However, this atomization of categories not only exposes the brand to new markets but creates opportunities to invent unique categories.
Convergence is not limited to media and sectors either. As consumers create bigger digital footprints through online social communities, they are also forming or “converging” into different groups, based on geographical locations as well as interests and personalities. They will seek out like-minded individuals, creating masses of targeted niche groups that marketers can target. In addition, as Mohan Agarwal, visiting professor of marketing at the University of Delaware, has found, these consumers have new expectations: they want solutions, not products; they value support more than the product; and they expect a great purchase experience.