Besides the fact that it is THE luxury event of the yearMay 27, 2015 9:48
The Evolution of Marketing: Are you ready for it?
Are marketers thinking on their feet fast enough to catch up to the changes that are taking place in marketing? Said Aghil Baaghil poses some tough questions.
March 13, 2012 3:35 by Precious de Leon
What is the one thought that leads everything in marketing?
Isn’t it brands?
It seems everything revolves around the concept of the brand, or at least the head of marketing and of the organisation work to serve the brand.
Has the practice of marketing changed since the days of the marketing mix, when that idea was first introduced during the AMA conference in Chicago, Illinois in 1967? And how does advertising communicate through all these changes the marketing industry is facing? These are just a few of the millions of questions that CEOs and shareholders are asking themselves every day.
Today, it’s not about competitiveness in marketing; it’s about innovation, creativity and strategy, while still maintaining the basic principles of marketing. All these things are the most fundamental drives. In the past decade we have even noticed that the marketing mix, which used to be only the four Ps, has now extended to encompass more ideas, more ‘Ps’. As industries change, the market environment changes and so does the target audience.
With the focus of the company being the brand, which drives almost everything before it, marketing has also changed from being a set of generic processes to encompassing a range of additional essentials to support the brand. For this reason, the field of marketing has many professional specialties beyond the basic practice of generic marketing.
For example: brand marketing is part of marketing but focuses more on the brand aspect instead of the generic trade aspect applied in many industries. I still believe the trade aspect is as important as the brand, because it’s the basic process that supports the brand and allows it to flourish, but again the objective of sales today is to secure brand performance in the minds of the target audience.
I have raised some important questions here which I won’t be able to address now, but these thoughts can flirt with our minds, and perhaps prompt us to envision the future of marketing and extend the support that marketing can get from the advertising and public relations industries.
The most important thing to bear in mind is the evolution that marketing will undergo in the coming years, and over the next couple of decades, and how the nature of the market is dictating how we must change. As marketers you must think about what factors will help your brands lead. These thoughts are a few to keep in mind and to showcase at work, or even reconsider yourself so as to be prepared for what are sure to be some big changes.
Said Aghil Baaghil has twenty years of branding and marketing strategist. He is the author of The Power of Belonging and he will be sharing his expertise with Kipp readers every 12th of the month.