In this article, we will discuss the modern view of marketing. This view was pioneered by Charles Duhigg and his book The Power of Habit.
Modern views of marketing emphasize a focus on customer behaviour and customer needs. These views were influenced by his research and by the advent of technology that can facilitate customer interactions.
This new approach to marketing is referred to as behavioural or need based marketing. It emphasis on making customers feel like important parts of the process they are shopping or operating with them.
This new view of marketing was influenced by research in psychology, sociology, computer science, business administration and other disciplines.
Marketing is about delivering value
At its most basic, marketing is about delivering value to customers. That’s what makes it marketing!
But let’s be real for a second. We’re really good at delivering value to our customers. We measure our success by how much our customers are happy with us.
We like what we hear, we trust our intuition, and we make decisions on the basis of that trust.
That is why it is so hard for people to change up how we deliver value to our customers. It takes a lot of courage to start looking beyond your product or service and who you are talking to.
How can you start changing up your value-delivery if you don’t know the next step after putting out a message? How do you know if you have the next step or not?
It can be scary, and sometimes we just need guidance from others. That is why we brought on The Modern View of Marketing speakers.
Customers are in control
In the modern view of marketing, consumers are the ultimate target audience. Companies should never make decisions for them based on what’s best for the consumer.
Instead, companies should focus their efforts on providing great consumer experiences that earn people’s trust. They should also continuously evaluate how they do that and how to improve it.
Finally, consumers are the ones who must take charge and decide if a product is good enough to buy. They should be able to choose whether or not to purchase a product, and they should be the ones who determine whether or not a company is trustworthy.
This new view of marketing challenges long-held assumptions about target markets, marketing methods, and organization of a business unit focused entirely on targeting a specific audience. It also calls for changes in internal communication and organization routines.
Marketing is no longer just about selling products and services
In the modern view of marketing, there are no products or services that deserve to be sold alone. Instead, there are always places and things that you can add value to the community you’re in.
Modern marketing is about sharing knowledge and doing good with the world. Even small gestures such as sending an email with a discount code can add value to someone’s life outside of your company.
By being involved in other communities, you will learn about new products and services as well as meet new people. This will increase your business potential as well as make you feel more attached to your company.
A Modern View of Marketing believes that marketing is not just about selling products and services, but also about telling stories, engage with people, and being flexible.
Marketing is not just about promoting products and services
While there is still a focus on promoting products and services in most marketing campaigns, this focus is changing. It is expanding to include all areas of human life, including marketing.
In fact, the modern view of marketing sees it as a way to promote people and ideas. It sees marketing as an essential part of business growth, offering opportunities to develop individuals and groups before they become successful businesses.
This new view of marketing places more emphasis on non-product skills than many companies do today. Even the most successful companies don’t always spend time looking at how an individual can grow into a great company.
This new view of marketing was developed for one reason: People are becoming less interested in buying things and more interested in being healthful. They want to be shown that what they are buying has an effect on their health rather than just told about it.
Creating a marketing strategy requires an understanding of customer behavior
There are a number of reasons to have a marketing strategy. A understanding your customers behavior and what they want out of your business is one of the main ones.
In this era where everyone has a smartphone and is constantly looking for information, having a strategy that accounts for modern customer behavior is important.
At its most basic, the marketing strategy can be described as designing how people encounter your business, how they spend their money, and how you make them feel like you care about them.
This can be done on many levels, from producing print advertisements and marketing materials to developing online content and advertisements. Regardless of how it is implemented, the goal is to understand who your business affects and why they should care about it.
The modern view of marketing emphasizes listening than talking and says that creating material only goes up hill in theory, but in practice it makes a difference.
MARKETING IS ABOUT CUSTOMER EXPERIENCE
At its root, marketing is about being customer-focused. That’s why so many companies offer their own branded products or services – they want to be the one you go to when you need a specific product or service.
But with all this emphasis on customer experience, how does a company get started?
What Do Customers Want?
Most people will tell you that wanting something isn’t enough to make a purchase. You have to know what product or service you want it for and how it will benefit you.
That’s true not just for big purchases, but for any kind of investment in your business. You need to know that it will help you get what we want out of it, and that it will be worth the effort.
MARKETING IS ABOUT DELIVERING VALUE
The landscape of business is shifting. Instead of focusing on selling products or services, most people are selling value.
Value is defined as what you can do for someone else that they will appreciate and appreciate you for it. In business, you’re trying to deliver value to your customers or clients.
This new view of marketing sees marketing as a delivery system for value. It’s about switching from sales to management and from content to craft.
As a result, marketing agencies are rethinking their practices and developing new ones. Most recently, we’ve seen this in the form of the internet-first approach to marketing.
Customers are in control
At the end of the day, it comes down to you. You. You created and implemented your marketing strategy, so let’s talk about that.
As a leader, you have the power to set standards for yourself and for your team. You can make decisions that are outside of what others expect of them and for them.
You can choose to be assertive and direct in your communication with your clients and customers. You can choose to be interactive and offer choices in response to requests.
You can make choices that focus on who you are rather than what you sell. For example, if you are a hair stylist, than you might spend your time and money doing things that make you feel good rather than making money.
This modern view of marketing recognizes that people are the most important product type. It emphasizes being confident in our artistry but also recognizing financial reward from it.