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The Future of Marketing

  1. Selling Concept / Marketing Concept 1
  2. Selling / Marketing Concept Starting Point Focus Means Ends Factory Product Selling & Promotion Profit, Through Sales Volume Starting Point Focus Means Ends Target Market Customer Need Integrated Marketing Profit Through Customer Satisfaction Selling Concept Marketing Concept
  3. Marketing Mix ? Word of Mouth Marketing
  4. Marketing Mix
  5. Word of Mouth
  6. Word of Mouth The act of consumers providing information to other consumers. Word of Mouth Marketing Giving people a reason to talk about your products and services, and making it easier for that conversation to take place. It is the art and science of building active, mutually beneficial consumer-to-consumer and consumer-to-marketer communications.
  7. Buzz Marketing Viral Marketing Community Marketing Word of Mouth Marketing Grassroots Marketing Product Seeding Influencer Marketing Cause Marketing Conversation Creation Brand Blogging Referral Programs
  8. Positive WOM usually results for a good brand experience and is spread by ‘Brand Ambassadors’. Negative messages are spread by ‘saboteurs’ or ‘detractors’. What Is Word Of Mouth Advertising? Word of Mouth Advertising  Word of mouth is difficult to control and measure  Can spread quickly and be highly influential in purchase decisions  Personal recommendation from a friend or trusted acquaintance
  9. What is Word of Mouth? Who are we listening to? When asked what communication was used after purchase, 63% said face-to-face. 78% say consumer recommendations most credible form of advertising.
  10. Why Word of Mouth? Shift In Power From Media To Consumer  26% of consumers trust advertising  68% trust peer driven WOM  67% of all decisions are driven by WOM  90% trust their spouse  65 % trust friends  27% trust manufactures  14% trust advertisers  57 % of people have stopped doing business with companies that don’t “respect” them.
  11. Marketing Journey Product- Driven Customer- Centric Human- Centric Digital- Centric 1.0 2.0 3.0 4.0
  12. Fans Friends Family Followers F FACTOR
  13. Sell products Industrial Revolution Mass Buyers with Physical Needs Product development Product specification Functional One-to-Many Transaction Satisfy and retain the consumers Information Technology Smarter Consumer with Mind and Heart Differentiation Corporate and Product Positioning Functional and Emotional One-to-One Relationship Make the world a better place New Wave Technology Whole Human with Mind, Heart and Spirit Values Corporate, Vision, Values Functional, Emotional, and Spiritual Many-to-Many Collaboration MARKETING 1.0 MARKETING 2.0 MARKETING 3.0 Product-centric Marketing Consumer-oriented Marketing Value-driven Marketing Objective Enabling Forces How companies see the market Key marketing concept Company marketing guidelines Value propositions Interaction with consumers
  14. Rethinking Marketing Customer 4.0 HUMAN Marketing 4.0 SUPER HUMAN Business 4.0 ROBOTIC Customer 3.0 PERSONAL Marketing 3.0 DIGITAL Business 3.0 ELECTRONIC Customer 2.0 ASPIRATIONAL Marketing 2.0 INTEGRATED Business 2.0 INNOVATIVE Customer 1.0 DEMANDING Marketing 1.0 COMMUNICATING Business 1.0 MECHANICAL
  15. Marketing 1.0 Marketing 2.0 Marketing 3.0 Marketing 4.0 Product Centric Customer Centric Value Centric Digitalization From Products to Customers to Human Spirit Moving From Traditional to Digital Mind Heart Spirit Online/ Offline, Machine to Machine to Man Artificial Intelligent Full loT Support
  16. 2 The New Customer Path – 4A to 5A
  17. The New Customer Path 1. Increased mobility and connectivity 2. Limited time to consider and evaluate brands 3. Attention customers experience difficulty in focusing. 4. Multiple channels Online and Offline ( O2O) 5. Too much of everything: Product features, Brand promises, and Sales talk. 6. Confused by too-good-to-be-true advertising messages 7. Trustworthy sources of advice: their social circle of friends and family.
  18. Understanding How People Buy: From 4 A’s to 5 A’s One of the earliest and widely the customer path is AIDA: Attention ( Grap Attention ) Interest ( Initiate Intrest ) Desire ( Strength Desire ) Action ( Ultimately Drive & Action)
  19. 4A’s 1. Aware (Customer learn about a brand) 2. Attitude (Like or dislike the brand) 3. Act (decide whether to purchase it) 4. Act again (Decide whether the brand is worth a repeat purchase ) Eg. TV advertising at the Aware phase, Consumer like or dislke the brand the Attitude phase, salesperson at the Act phase, service center at the Act again phase
  20. AWARE APPEAL ASK ACT ADVOCATE AWARE ATTITUDE ACT ACT AGAINCustomer Path Pre-Connectivity Era Customer Path in Connectivity Era In the pre-connectivity era, an individual customer determines his/her own attitude toward a brand; in the connectivity era, the initial appeal of a brand is influenced by the “community” surrounding the customer to determine the final attitude In the pre-connectivity era, loyalty is often defined as retention and repurchase; in the connectivity era, loyalty is ultimate’s defined as willingness to advocate a brand. With it comes to understanding brands, customers now actively connect with one another, building ask and advocate relationship depending on the bias during the conversation, the connection either strengthens or weakens the ran appeal. Shift #1 Shift #2 Shift #3 A1 A2 A3 A4 A1 A2 A3 A4 A5 Figure: The Shifting Customer Path in a Connected World
  21. Mapping Customer Throughout Five A’s AWARE APPEAL ASK ACT ADVOCATE Customers passively expose to long list of brands from past experiences, marketing communications and/or advocacy of others Customers process messages exposed to and attracted to short list of brands Customers research for more information from friends & family, media & brands Customer interact deeper through purchase & usage Retention, re-purchase & advocacy • Learn about brand from others • Expose to advertising • Recall past experience • Attracted to brands • Create consideration set of brands • Call friends for advice • Search for product review online • Contact call center • Compare prices • Try out products • Buy in store or online • Use product for first time • Complain • Get service • Keep using brand • Repurchase brand • Recommend brand to others KeyCustomer Impression Possible Customer Touchpoints Customer Behaviour I Recommend I’m Busying I’m ConvincedI LikeI Know A1 A2 A3 A4 A5 Figure: Mapping the Customer Path throughout the Five A’s
  22. 3 Driving from Awareness to Advocacy: The O Zone (O3)
  23. Driving from Awareness to Advocacy: The O Zone (O3) OWN OTHER OUTER Figure: The O Zone of Driving Customers from Awareness to Advocacy
  24. The O Zone of Driving Customers from Awareness to Advocacy The Outer influence comes from external sources, through advertising and other marketing communications. Come from Other customer interfaces such as sales force and customer service staff.  Comes from Own a close circle of friends and family as word of mouth.
  25. Customers may be influenced by conversations they heard on Social Networking Platforms The Youth, Women, and Netizens (YWN) are the most influential. Others’ influence coming from them is often the major driver of purchase. Other hand, Own influence comes from within oneself. Past experience and interaction with several brands, personal judgment and evaluation of the brands, and ultimately individual preference toward the chosen brand(s). The O Zone of Driving Customers from Awareness to Advocacy
  26. OWN OTHERS’ OTHER APPEAL AWARE ASK ACT ADVOCATE Figure: The O Zone across the Customer Path
  27. The O Zone across the Customer Path 1. Outer influence is more important than the rest, marketers can focus more on marketing communications activities. 2. Others’ influence is the most important, marketers should rely on community marketing activities. 3. Own influence is the most important, marketers should put more emphasis on building the post-purchase customer experience.
  28. 4 Human-Centric Marketing for Brand Attraction
  29. Human-Centric Marketing for Brand Attraction Customers are the most Powerful Players. They build communities to strengthen their positions. In Marketing 3.0, Human-Centric Marketing In Marketing 2.0, Customer-Centric Marketing In Marketing 1.0, Product-Centric marketing In Human-Centric Marketing, marketers approach customers as whole human beings with Minds, Hearts, and Spirits.
  30. “What does it mean to be Human In A Digital World?”
  31. Understanding Humans Using Digital Anthropology Digital Anthropology focuses on between Humanity and Digital Technology. Humans interact with digital interfaces, technologies How technologies are being used by humans to interact with one another. To understand how people perceive brands in their digital communities and what attracts people to certain brands.
  32. 1. Physicality 2. Intellectuality 3. Sociability 4. Emotionality 5. Personability 6. Morality Building the Six Attributes of Human-Centric Brands
  33. More and more, brands are adopting human qualities to attract customers in the human- centric era. The brands should be Physically attractive, Intellectually compelling, Socially engaging, and Emotionally appealing while at the same time demonstrate strong personability and morality. When Brands Become Humans
  34. 5 Marketing the Future
  35. Magnetic Marketing - Attracting customers: (Stand for something) - Connecting with customers (Engage customers) - Motivating customers (Stimulate action)
  36. Marketing the Future  Do we need to market the future?  The way marketing used to be Future-based Marketing: 1) Understand online customers’ profiles, behaviors, and perceptions. 2) Inspire customers to think (different) about the future 3) Allow customer to be part of the future 4) Create a new lifestyle not a technology
  37. Marketing the future is more important the future itself
  38. Interbrand Best Global Brands 2017 Brand became the most important asset
  39. "Nearly overnight, we went from a world of face to face commercial transactions to a world that was simultaneously more connected and further apart." Dev Patnaik, author of "Wired to Care" Product-based marketing Companies sold commodities / Customer bought products
  40. Mass Marketing Mass media-based marketing Companies sold goods / Customers bought benefits Product-based marketing Companies sold commodities / Customers bought products
  41. Mass media-based marketing Companies sold goods / Customers bought benefits Product-based marketing Companies sold commodities / Customers bought products Customer-based marketing Companies sold brands / Customers bought Emotions Mass Customization
  42. Mass media-based marketing (Informing) Companies sold goods / Customers bought benefits Product-based marketing Companies sold commodities / Customers bought products Customer-based marketing (Persuading) Companies sold brands / Customers bought Emotions Market-based marketing (Inspiring) Companies sold Ideas / Customers bought Experiences “Marketing is all about spreading ideas.” Seth Godin
  43. Welcome to the Digital Age  Websites are available 24 hours and sell unlimited products.  The internet transform from a primarily transactional medium to relationship building.  The internet transformed the power from companies to consumers and made them as much producers as consumers.  The internet allowed customers to be connected at anytime and approximately for free.
  44. 6 Guerrilla Marketing
  45. A new tactic, closely associated with sponsorship, is known as guerrilla marketing (sometimes called ambush marketing).
  46. Guerrilla Marketing
  47. 1. The market is continually changing. 2. People forget quickly. 3. Your competition won’t quit. 4. Marketing strengthens your identity. 9. Marketing allows your business to continue operating. 8. Your marketing program gives you an advantage over competitors who have ceased to market. 7. Marketing maintains morale. 6. Marketing enables you to keep your customers. 10. You stand to lose out on the money, time, and effort you’ve invested. 5. Marketing is essential to survival and growth. Why You Should Continue To Market.
  48. 7 Multi Channel or Holistic Approach
  49. Focusing on Mobile Commerce in the “Now” Economy As more and more customers make purchases on mobile phones – mobile commerce was 30 percent of the total U.S. E-commerce in 2015
  50. Optimizing Omnichannel Experience with Big-Data Analytics
  51. Thank You! Presented By: Tin Zan Kyaw President & Founder Device Consulting Group tzk.device@gmail.com 09 – 5111 758
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