MARKETING IN MODERN AGE
Word Count 5022
Table of Contents
Effectiveness of internet marketing. 10
Creative approaches in marketing. 15
Abstract
This review is based on the fact that technology has transformed marketing in the modern age.
The scope involved various themes that connect with the noticeable shift in the trends and strategies of marketing. Predominantly, the study placed significant emphasis on the patterns of adoption of online marketing strategies by big and small companies. These factors were considered in line with the subject of marketing in the modern age. The use of snowballing was appropriate in establishing consistency and harmony in the information obtained. Overall, the research created a strong ground for readers to understand the key concepts of marketing in the modern age. The study emphasized on how technology has increased benefits of marketing thus, allowing businesses to expand both locally and internationally. This research established the need for organizations to embrace creative marketing strategies. This form of marketing is crucial as it helps businesses to convert first time clients to frequent and potential clients. The review therefore focuses on how technology has influenced marketing in the modern age.
Introduction:
The noticeable shift in the methods and strategies of marketing provides a clear signal to the changing market forces and conditions on localized and international stages (Watson, 2008, Begalli, Codurri & Gaeta, 2009 and Cateora, et al 2012). For example Watson (2008) argued that, technology has transformed how businesses market their goods and services in the modern age. Further, Begalli, Codurri & Gaeta (2009), the changes of marketing in the modern age have emerged because of the need to align the goals of marketing with emerging global realities, expansion of technological solutions, and the fluid nature of consumer preferences. To Cateora, et al (2012), the methods of marketing in the modern age have changed and improved. Unlike in the past centuries, businesses become more efficient on how they market their products both locally and internationally. Overall, Watson, 2008, Begalli, Codurri & Gaeta, 2009 and Cateora, et al 2012 affirm that technology has become the driving factor, which facilitates the process of globalization. To Shimasaki (2009), the improvements of technology have increased communication and information exchange, thus increasing access to information. Shimasaki believes that, the development of technology has enhanced efficiency in promoting new products and ideas worldwide regardless of the geographic barriers.
The articles and books reviewed were subjectively evaluated to ensure their relevance and validity in this research. The searches for the articles were done as per topic because the review analyzed three themes. In some instances, snowball literature search was utilized, which involved looking for the most recent articles through libraries such as proquest. Other recent articles were searched through Google search engine. Overall, the research obtained was reviewed from books, journals, and reputable institutions. The snowball approach allowed for the exploration of a body of literature, which responded harmoniously with the requirements of the study. The approach ensured that the topic remains within the specific dimensions of the study.
Social Media Marketing
Marketing in the modern age has transformed significantly (Zeithaml, Parasuraman, and Berry (2005). The growth of the internet technology has created a strong platform for companies to market their goods effectively (Jovicevic Ratimir and Jovicevic Ljubica 2014, p1076). The two researchers concluded that the growth of the internet technology has multiplied options for marketers in ways that enable companies to reach wider segments in a more effective and sustainable manner. Using a survey of how developed countries have embraced technology in their businesses, Zeithaml, Parasuraman, and Berry (2005) argued that, social media has transformed marketing in the modern age. Although this research reported that social media has enhanced a great impact in marketing, it failed to analyze various social media sites used by businesses to market their products. On the other hand, Jovicevic Ratimir and Jovicevic Ljubica (2014, p1076) used quantitative research to examine how developed countries have embraced technology in their businesses. Their research concluded that, marketing in the modern age has changed significantly because of technology. Application of new technological tools has created strong impact on the marketing and multiplies profit in businesses. This research affirms that, the current marketing practices enhance a strong influence for companies to attract new clients and further convert them to frequent and potential clients. This research looks for a deeper approach to discuss how technology has increased the intensity of customer satisfaction. Despite Zeithaml, Parasuraman, and Berry (2005) and Jovicevic Ratimir and Jovicevic Ljubica (2014, p1076) agreeing that social media has created a strong platform for companies to market their goods, the two studies failed to provide various social media sites used by companies to market their goods and services.
Minton, Lee, Orth, Kim & Kahle (2012, p69-84) and Soliman (2011) observed that, social medial creates an ideal advertising medium for companies because it increases communication, which is a vital tool in marketing. The two studies employed an analytic approach to determine the impact of social media on modern marketing practices. The analytic methodology enabled the study to reach logical and testable conclusions that enhanced the element of the study. In many ways, Minton, Lee, Orth, Kim & Kahle (2012, p69-84) asserted that social media has improved communication in the business industry. Additionally, Soliman (2011) agreed that social media sites create a strong ground for companies to interact with their consumers. Despite Minton, Lee, Orth, Kim & Kahle (2012, p69-84) ) providing marketers with adequate details about, which motives to target on which social media; they failed to provide the best social media sites used by most companies. In future, the two studies would consider adding this information to help those in business.
Fisher (2009), Taleghani, Gilaninia &Mousavian (2011), and Hoffman and Fodor, (2010) considered social media as an emergent marketing strategy by which firms can enhance their levels of profitability and reduce on the costs. These researchers concluded their research that, advertisers should develop mass-marketing campaigns and delve into marketing campaigns that attract consumers across the globe. Specifically, an analytic study conducted by Hoffman and Fodor, (2010) and Taleghani, Gilaninia &Mousavian (2011) discovered specific advantages of social media marketing for firms and businesses. The two studies considered social media as an emergent marketing strategy by which firms can enhance their levels of profitability and reduce on the costs. This study employed an analytic approach to determine the impact of social media on modern marketing practices. The analytic methodology enabled the study to reach logical and testable conclusions that enhanced the element of the study. In many ways, the study by Fisher (2009) showed that, technology has improved marketing in the modern age. Fisher (2009) used quantitative research to examine how most developed and developing countries have improved in their marketing. The study explored the subject of marketing in line with the attendant comparative advantage when analyzed against the traditional approaches. . In future, these researches would consider giving detail information of how companies can achieve effective marketing campaigns.
On the other hand, Palmer (2011) and Treem &Leonardi (2012) argued that, marketers have attempted to embrace untested strategies in response to the unique market forces that originate from globalization and liberalization of the global market economy. A growing body of literature by the two studies discussed the extent by which modern market preferences differ from the traditional approaches. However, there is need to broaden their discussion study to include the impact of these new approaches to performance and sustainability as argued by (Lovelock and Gummesson 2004)
A study conducted by Witkemper & Waldburger (2012, p170) and Surchi (2011) examined the influence of social media in businesses. These studies concluded that social media marketing has transformed the business industry. According to Witkemper & Waldburger (2012, p170) social media is frequently used by sports organizations as well as athletes to communicate with their fans. Witkemper & Waldburger research provided a number of sites used by sports organization. For instance, the research outlined that Face book, Twitter, and Instagram have been utilized to provide information, post videos and pictures, and advertize upcoming events. YouTube has also been used to share videos with fans. By utilizing social media, sport organizations are attempting to take advantage of evolution of technology that keeps consumers connected and aware of its brand. The research was a healthy beginning for this research on marketing in the modern age. However, theories on the impacts or effects of social media in sport should be further developed to identify additional constraints and motivations. Strengthening this research could increase effective sport marketing strategies that connect sport organizations to their fans. On the other hand, Surchi (2011) focused on the concept of a temporary store as a convenient marketing tool. The fashion brands were selected because of their application of the concept of a temporary store. The study also applied in-depth interviews that focused on the nature, successes, and challenges of the concept of temporary store on the Italian market. This research evaluated whether or not social media had enhanced a great impact in marketing in the fashion businesses. After evaluation, it was clear that those businesses that utilized social media sites such as Face book, Twitter, and Instagram were in a better position to attract new clients and convert them to potential and frequent clients. The study was deep in content in that, it laid a strong ground to understand the benefits of social media in marketing particularly attracting new clients. In future, this business would consider adding theories or hypothesis about the effect of using social media sites in marketing.
Key Learning
From the ongoing discussion, it is evident that with the recent innovation of technology, social media has improved marketing in this era. Overall, most authors agree that social media have reduced marketing cost. It is crucial to note that, the ability to tweet or post a message in face book is more cost effective than putting a message in the billboard. Social media have impacted the search results of marketing in the modern age. Social media allow businesses to broadcast their content to wide number of interested readers. It has also created a strong ground where businesses can evaluate customer comments, concerns, and questions regarding the goods and services offered. Most authors agree that customers using social media platforms such as Twitter and Face book can easily make their comments than visiting offices to do so.
Effectiveness of internet marketing
In their research, Ketter & Avraham (2012, p285) and Witkemper & Waldburger (2012, p170) agreed that, marketing and communication are crucial processes of exchanging information between businesses and consumers. The two researchers concluded that, back in the 1800s, most businesses encountered difficulties while marketing their products. Technology created a strong path for marketers to market their goods and services effectively without having to travel in miles. Specifically, Ketter & Avraham(2012, p285) believed that the evolution of online marketing is related to the evolution of technology. According to Witkemper & Waldburger (2012, p170), recent changes in the technological environments play a crucial role of marketing and communication. Although this study discovered integrative relations that enhance effective communication in the modern age, it should be noted that the traditional methods of marketing such as face-to-face still exist in the modern age. This provided a great opportunity for future studies to access the transforming environment of traditional methods of marketing in the modern age.
In a different research Hussain et al, (2012), Lovelock and Gummesson (2004), Begalli, Codurri and Gaeta (2009), Oliver (2004) and Simmons (2011) conducted a qualitative study on the effectiveness of internet marketing for medical doctors and practitioners in Malaysia. Their study seeks to fill in the gap left by studies that have overlooked the value of the internet as an innovative and highly effective marketing tool. According to these researches, the practice of medicine needs the support of an effective marketing strategy for productivity and success. Hussain et al, (2012) study acknowledges the unique challenges facing doctors and medical practitioners who rely on traditional structures and methods of advertising. The study was premised on the fact that the traditional methods of advertisement have significant limitations that affect the levels of efficacy of medical doctors and other medical practitioners from achieving their full potential. The study recognizes internet marketing as an effective approach to marketing and the development of strategy. Lovelock and Gummesson (2004) and Simmons (2011) affirmed that, internet is applied towards the purpose of enhancing the aspect of popularity on the market. The usage is customized in a way that enhances the reception of the market. This characteristic of the ISW usage of the internet is consistent with the way in which other entrepreneurs apply the usage of the internet to influence positive results. The internet resource enables the wine entrepreneurs to sell their brands to the market with high effectiveness and faster speed. This usage also comes with the advantage of reduced costs particularly when compared with the traditional forms of marketing. . In future, researchers would consider the effect of embracing technology in marketing. This would create a strong ground to understand the benefits and limitations of internet in the marketing in the modern age.
Begalli, Codurri and Gaeta (2009) and Oliver (2004) sought to determine the levels of internet marketing and the effectiveness of such marketing within the Italian wine industry. The findings showed that the usage of the internet as a marketing tool is at the preliminary stages. Specifically, Begalli, Codurri and Gaeta (2009) study focused on the Italian Specialty Wineries (ISW). The study entailed a sample of 272 wineries of high quality. The methodology involved analyzing the existing websites through a 7Cs model, which was adapted. Among the various advantages of an adapted 7Cs model is that it involves a combination of a univariate and a multivariate series. In addition, the methodology involved a structured questionnaire, which was used to obtain the views of the various entrepreneurs regarding internet marketing. Unlike other studies that focus so much on the importance of internet in marketing, Begalli, Codurri and Gaeta, (2009) and Oliver (2004) seemed to take their research in a different point of view. After conducting their research, the two researches affirmed that the determination of the value of marketing should be assessed in terms of that combines effects of the synergies and other supporting factors that connect with the element of change. In this regard, it becomes necessary to assess the impact of the new approaches to marketing. The uniting themes in these studies seem to locate internet marketing at the center of the market modern approaches with noticeable emphasis on the aspect of quality and performance. The perspectives adopted in this study are largely united in their estimation of the opportunities in the various approaches of internet-based research. However, Begalli, Codurri and Gaeta (2009) and Oliver (2004) failed to recognize the cost that most companies use in internet-based research. Recognizing why most companies encounter challenges of meeting the cost of technology would help future researchers to include a budget that meets the cost of internet marketing.
According to Oliver (2004) and Begalli, Codurri and Gaeta, (2009), both small businesses and multinationals have adopted flexible practices that attune with the fluid practices in marketing. Their study concluded that, Internet marketing offers opportunities for interaction in ways that help in the pursuit of various objectives in businesses. The advantage of a feedback mechanism in Facebook and Twitter provides effective opportunities for engaging with clients of various demographic distinctions. In various respects, Levere (2002) also believe that, some of the factors that determine the competitive advantage of a company usually revolve around the ability to connect with the clients across various demographic variables. The use of the current approaches to obtain a competitive advantage is a matter that engages with the need represent the client within a broad market as established by current studies. The use of Facebook as an effective marketing tool provides a good example of the unique and effective nature of internet marketing. However, Oliver (2004) and Begalli, Codurri and Gaeta, (2009) failed to recognize the most used social media site that attracts most clients.
Consequently, Jambulingam and Sharma (2010) and Stuart (2013) conducted a study on internet marketing regarding its value on its value on pharmaceutical companies in the United States. The study was anchored on a hypothesis that matched stock prices on the availability of information. The value of internet marketing was examined in line with its contribution to the productivity and general performance. The findings were coherent in that they created a strong ground to understand the importance of internet improving marketing in the modern age. It was clear that; internet has opened many opportunities to interact with consumers and most importantly improved communication. Through internet, consumers have had a wonderful experience to search what they want online. There is no restriction whatsoever in regard to distance or time. Businesses have also had a great opportunity to market their products worldwide. A person in the United States can learn about a company in Africa even without travelling in that region. However, the Jambulingam and Sharma (2010) and Stuart (2013) failed to mention the challenges that emerge in internet marketing.
Key Learning
After conducting the research in the above theme, there are various lessons that one may learn from most authors. Overall, most authors agree that internet has improved marketing in the modern age. Specifically, it has improved communication and information exchange. Unlike in the past centuries where businesses had to market their products via face-to-face method, internet has created a strong platform where can market the products online. Typically, most authors agree that businesses have flourished because of recent innovations of technology. Businesses can interact effectively with their consumers through social media networks such as Facebook and Twitter. Also, businessmen have had a wonderful opportunity to interact with other businessmen. Internet has created a path where business can flourish in their marketing. Internet has become very beneficial in the modern age.
Creative approaches in marketing
Pati, (2002), Mullin, Sutton & Hurdy (2007) and Stoldt, Dittmore, & Branvold (2012) believes that technology has enhanced creative approaches in marketing. These researches helps readers to understand the tremendous change that have occurred from traditional methods of marketing such as billboard to those creative approaches. In particular, Pati (2002) argues that, the modern practices of marketing provide great synergies for businesses performance regardless of variations of place, size, and nature of business. In detail, Mullin, Sutton & Hurdy (2007) affirm that, traditional approaches to marketing usually entailed a heavy reliance on the print and electronic media as the most significant way of connecting with the targeted market segments. The use of bill boards and other types of mass publications helped advertisers to adjust appropriately with the requirements of the market. Now, it becomes clear to Mullin, Sutton & Hurdy that, the use of the internet resource changed the art of communication in ways that helped companies save on costs and multiple logistical disadvantages. According to Stoldt, Dittmore, & Branvold (2012), countries have managed to adjust to new market realities that require creative solutions in order to enhance the element of performance. Despite Pati, (2002), Mullin, Sutton & Hurdy (2007) and Stoldt, Dittmore, & Branvold (2012) outlining how social media have improved communication, they fail to analyze how this has affected marketing in modern age. In future, these studies would be improved by considering the creative strategies enacted by technology. In so doing, the researches would enhance a great impact to the readers particularly those in businesses.
In the modern age most organizations have embraced creative marketing to attract new clients and further convert them to potential and frequent clients (Stoldt, Dittmore, & Branvold 2012, Shimp 2010, and Smith & Taylor 2004). These studies concluded that most companies have taken advantage of recent innovations of technology. Most businesses have also implemented new and better marketing strategies to emerge the best over other competitors. Shimp (2010) conducted his study among local and international businesses. He found a positive correlation between technology and creativity in marketing. Through the help of the social media and internet, Stoldt, Dittmore, & Branvold 2012, Shimp 2010, and Smith & Taylor 2004 found out that marketing has progressed and created endless opportunities for businesses to expand both locally and internationally. The studies were limited in that they only focused on few organizations. In future, these researches would be improved by analyzing a large number of local and international businesses in the world, which would increase validity and accuracy of data.
A research conducted by Nike in 2013 and Mullin, Sutton & Hurdy (2007) affirmed that, a growing preference for creative approaches in marketing has largely been defined by the wide spread adoption of social networking as a suitable, convenient, and flexible way of advertising. Essentially, Facebook and Twitter are some of the results-oriented approaches that have helped companies and institutions to gain large access to targeted markets over the times. Based on their financial analysis in 2013, Nike found out that they had achieved a considerable profit after embracing technology that increases creativity. Mullin, Sutton & Hurdy (2007) believed that, some of the dominant factors that determine the success of online marketing entail the use of results-oriented approaches to affect the markets. In many ways, the use of social networks enables the marketers to engage with the market in a more precise way as compared to the other available solutions. The various studies that engage with the question of effectiveness usually entail the creation of an effective approach that enables the pursuit of specific business goals. Mullin, Sutton & Hurdy (2007) and Nike (2013) believes that creative strategy must be informed. In this case, businesses must establish various things that competitors are doing in the market to succeed. They should also embrace the recent innovations of technology to succeed in the modern age where technology is the order of the day. Although these researches are deep in content, they fails to consider the main strategies used by online marketers and how effective they are in attracting new clients and further converting them to potential and frequent clients.
From the ongoing discussion, the professional and act of creative marketing is an interesting aspect. As Jambulingam & Sharma (2010), Deresky (2013), and Essawy (2011) put it, for a marketing message to attract a large number of audiences, it must be precise and highly focused on the audience. This requires companies to make choices that attractive, plausible, and logical. Essawy (2011) believes that a creative strategy defines what the company intends to achieve over a given span of time. Thus, Usui (2008), Wilkinson (2008), Williams & Page (2011), and Wilson, Gosling, & Graham (2012) believes that, a company should work hard to market its goods and services in a capturing way to attract clients worldwide. When enacting a creative strategy, the company should understand the target audience and further, evaluate ways to reach the community or else the audience. Knowing the target audience of the marketing and advertising helps the company to plan how to attract a large number of clients. In a different research by Tsiotsou, Rigopoulou & Kehagias (2010), these authors believe that companies should highlight the benefits that emerge when consumers become potential and frequent clients. This research believes that, an organization must have an idea of why the audience should prefer purchasing their products to other organizations. Therefore, the organization may use facts and perceptions that portray quality products and services. On the contrary, Richtel (2013) believes that there various factors that would affect and influence the success of the brand in the market. The author gives a perfect example of smoking in public, which has been considered a social vice thus affecting sales and marketability of cigarettes in the past. This research would be improved if it embraced how marketing is done effectively to sell the brand. Future researchers would outline how various companies succeed to market their brand to consumers.
Key Learning
Most authors believe that creative marketing has been a powerful force of attracting new clients and converting them to frequent and potential clients. Creative marketing strategies have created a strong ground where businesses can market their products effectively by targeting the audience. There are various things that evolve creative marketing strategies. Some of the things that businesses should consider are creating captivating and persuasive message to the audience. Businesses should persuade their consumers that their products and services are worth considering. Overall, most authors agree that creative marketing strategies cannot be underestimated in improving marketing in the modern age. To sum up, this theme outlines that creative marketing helps businesses to achieve their goals and objectives.
Methodology
Most of the studies reviewed were mainly conducted through survey research such as Tsiotsou, Rigopoulou & Kehagias (2010), Usui (2008), Wilkinson (2008), Williams & Page (2011), and Wilson, Gosling, & Graham (2012) just to nam a few. For instance, Wilkinson (2008) conducted an online survey among 200 companies who had embraced technology in their marketing. The research concluded that those using technology in the modern age are succeeding and emerging the best over other competitors. In a different research, Minton, Lee, Orth, Kim & Kahle (2012, p69-84) and Soliman (2011) utilized analytic approach to collect data about marketing in the modern age. Their research affirmed that, social medial creates the best platform for advertising in the modern age.
In the first theme, most sources were from secondary date in form of books, journals, and articles from the existing databases. Overall, most articles presented adequate facts and information concerning marketing in the modern age. Although each author presented his or information different, the fact of the matter is that they agreed to each other at some point. In the second theme, most authors agreed that technology is a crucial tool that cannot be underestimated in improving marketing in the modern age. Most information was collected from surveys, thus making the research more comprehensive. Most authors presented their surveys on the subject. The research was all-inclusive in general and it was able to avail comprehensive data and facts related to marketing in the modern age. In theme three, majority of sources was collected from surveys. Most of the sources reviewed provided comprehensive facts on the importance of technology in increasing communication. Overall, most authors agreed that technology has increased communication at a high rate, thus making it easier for businesses to market their goods and services.
The above literature review implies that technology has provided many benefits of marketing in the modern age. The literature analyzed in this chapter has a number of strengths and weaknesses. Strengths include its coherence and dependability. Most of the articles are scholarly articles and include extensive literature. Most of the researches are supported by many authors thus, making the research deep in content. However, the main weakness of the literature review is that most authors analyzed the existing data but, failed to conduct further research. For instance, while most authors agree that technology has opened many doors in marketing, they fail to mention various social media sites that most organizations use recently and why. To some extent, some articles discussing about marketing were written over 14 years ago, thus not being applicable in contemporary society where technology has advanced at a high rate. The analyzed articles imply that, there is a strong need to conduct more research of marketing in the modern age. Although the analyzed literature review is deep in content, there is a need for authors to conduct thorough research of how marketing in the modern age continues to advance at a high rate because of innovations in technology that occur yearly. There is need to research why most companies embrace technology to market their goods and services. It is also important to mention some of the limitations that emerge when companies advertise their goods and services through internet. This will enable future readers to grasp ideas built on continuously from one year to another.
Conclusion
Overall, the literature review has shown that, the concept of marketing in the modern age has attracted worldwide attention. Most researchers have emerged in the field to outline how technology has improved marketing, thus making businesses to succeed in the operations. Based on the facts and information collected from the literature review, it is evident that each of the themes has presented its information in depth, thus making the research more comprehensive. After compiling the research, this literature evaluated that technology has enhanced a number of benefits in the business. It is crucial to note that, a business cannot succeed without embracing marketing in their business. Marketing is what make businesses to succeed and emerge the best among its competitors. Overall, technology has improved communication and information exchange. Unlike in the past centuries where businesses could market their goods and services via face to face, businesses are now marketing their products via technological tools such social network sites, websites, and Google just to name a few. With this, technology makes it possible for businesses to compete with other businesses both locally and internationally. Through technology, businesses can exchange ideas with other businesses doing well worldwide. With this, it is crucial to note that, there have been advancements on how companies market their products and services. Based on this, businesses are more likely to perform well because they have better and equipped tools to market their products both locally and internationally. In future, this research would recommend most authors to provide examples and evidences of companies have performed well after embracing the recent innovations of technology. Thus far, this research has achieved its purpose of discussing marketing in the modern age.
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