Saturday, October 27, 2007

Marketing Tools have changed but the Principles Haven't

Marketing has traveled a huge journey since the birth of humankind. The story of marketing is the story of human race. But yet I believe that the more it travels the more it remains the same. Don’t misunderstand me…what I mean is that the outward manifestations’ change but the core remains the same. The tools change but the effect desired remains the same. The expectations of consumers change overtly but the principle of a ‘need being satiated’ remains the same.

Also, when new media of communication emerges, it defies some basic principles of marketing in its journey of first few years and we get carried away that the principles have changed. In fact they do not and after a few years of rapid growth they also settled down to the same cycles and seasons.

Marketing started with ‘direct, 2 way communication’ and its moving back towards it. The more interactivity comes back in marketing the more effective it would be. Of course it also poses huge challenges in this vast world of massive choice and entry barriers but we must remember that we have better tools now. Marketers are supposed to satisfy and create new demand. Let’s march on.
With gratitude to all the customers I have met in my life so far who have reinforced the above message.
(Excerpt from my small message at the IMT marketing conference today)

1 comment:

Mrinal said...

The fundamentals of businesses rarely change, but that is not the point of emphasis, what is important is for corporations looking at changing customer behavior, and based on that observation undergoing tactical shift.

Who can imagine that one day Airlines would be competing with Railways for their business, but that is a fact today?

Understanding customer wants and aspirations will always be critical for an enterprise.