Here is a link to a great article from the Economist discussing recent trends in marketing. The author, Paul Markillie provides insight into the changes in marketing facilitated largely by the Internet.
First, we now have transparency. Consumers are increasingly well-informed about products (both features and price comparisons) before they actually buy. The chief marketer at Dell notes that even small price changes result in immediate consumer reaction on Dell's site traffic and transactions, a sure sign that people really understand price points and price/value relationships in the computer market.
Another major trend is disintermediation — a marketing term than means taking out the middle man in plain English. With consumers able to do their own research and connect directly with companies, what happens to the traditional layer of marketing communications and advertising? Do we still need traditional advertising to attract customers in the digital age?
While advertising probably still has legs, companies are focusing on new media to deliver their messages. In this process, they are moving more toward genuine conversations with their constituencies. That's a really positive trend in my view. What do you think?
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