marketing

Everything – from the definition of marketing through to its application – has changed. Branded goods have increased exponentially creating massive marketing clutter, digital media vehicles are forcing brands to radically rethink their business models, consumers are unwilling to silently accept marketing spiel, and most importantly, the marketer is no longer in control.
The art and science of marketing has changed:

Principles of Marketing textbook taught me that marketing was about selling products and services. That definition has been properly trashed in the last decade. Marketing is about creating long lasting and meaningful relationships with consumers. As with people, relationships with brands are not created by peddling their attributes and USPs, rather they start with a spark or a connection
The consumer’s perception of value has changed:

Consumers in 2010 are a vastly different species from those in 1999. Three factors have contributed to this change: increased access to technology, the expansion of the media and the devaluation of the rupee. Together these elements have created a more aware, sophisticated and frugal consumer. Couple these qualities with a lack of time and abundance of choice in terms of brands and entertainment options, and you have a consumer who is a) no longer brand loyal; and b) not sitting at home watching TV, but out and about in restaurants and malls.
The balance of power has shifted:

If you are a high on yourself brand manager who thinks of the world as your oyster, repeatedly say to yourself, “I am not in control” and keep reminding yourself of that undeniable fact, every day. Access to technology and more media choices have empowered consumers to the extent that not only are they smarter and more with-it than the average brand manager, they also control how goods and services are marketed to them.

In conclusion, Pakistani marketers need to radically rethink their strategies if they are to go forward in the next decade. Consumers are real people and these real people want conversations with brands that mean something to them. The new decade will be all about what people (consumers) want. Brands which are best placed to deliver on these wants will be the ones who win the race and take the prize.