New Marketing Realities: Technology, Social Responsibility, Globalization - An Essay.

Requirement:

There are two topics and students need to discuss both topics.

Topics:

1. Consider the three key forces driving the new marketing realities.  How are they likely to change in the future?  What other major trends or forces might affect marketing?
   
   
2. What brands and products do you feel successfully speak to you and effectively target your age group? Why? Which ones do not? What could they do better?

Technology: Enhancing Marketing

It is seen that market is considered as a place where the products and services can be available easily to the consumers. If the focus is given to the new marketing realities then the three key factors that are considered are:  

Marketing is considered as an important aspect if the recent scenario is taken into consideration. If the technology is not there, then it cannot be possible to conduct the activities in an effective manner. Technology is known as one of the new marketing realities that have given enhancement in the productivity and overall profitability of the organization. Due to enhancement in the digitalization that production levels and also the large target audience can be attracted towards the company.  The latest technology is one of the assets of the organization. If the organization does not adopt the proper technology, then it cannot be possible to accomplish goals and objectives in a proper way. Technology helps the organization in the field of transportation, shipping and communication and also the marketing of the products and services can be done easily.  Due to the enhancement of the technology, the impact is also analyzed on the buying behavior of the consumers. The consumers can purchase the products and services by sitting at home. It has not given an increase in the sale of the products but due to this, the company can easily attain profitability (Cheung & Vogel, 2013).  

Innovation is one of the best outcomes that are attained by taking into consideration latest technology. With the help of the latest technology, the innovation can be done on a continuous basis by many companies. The new ideas and thoughts are presented by different companies so that the customers can easily be induced to purchase the products and services.  Technology has brought a change in conducting the activities of the company and also to survive in the competitive environment. If the company takes into consideration latest technology, then it is analyzed that the competition level can easily survive in the high level of the competitive market. Latest technology also enhanced the marketing. In the form of television advertisements and also internet marketing the company can easily promote the products and services in the market have given a positive impact on the consumers and also on the companies. The activities can be conducted in less time and also in a smooth manner (Morgan-Thomas and Veloutsou, 2013).

By giving focus on marketing the products and services in the market, the first factor that should be considered by every company is a social responsibility. It is one of the important factors considered at the time of promoting products and services in the market. It is evaluated that there are many companies who give focus on the social responsibility to create a positive image in the mind of the consumers. The main emphasis is given on the practice so that the consumers give more preference to the products and services offered by the company.  By giving advertisement by highlighting the issue related to society like education, poverty the company attracts the attention of the consumers towards the products.

Social Responsibility: Attracting Consumers

Like for example: In the Hindustan Unilever the emphasis is given on educating the girl child, so it attracts the attention of the consumers towards the products and services offered by the company (Fitchett & Caruana, 2015).

Globalization is also one the new marketing realities that have given enhancement in the profitability of the organization.  It is related to the change that takes place globally and also it is seen that with the latest technology one can purchase the item from another place in an easy way.  The focus is given by various companies so that the activities can be conducted from a single country to multiple countries.  The impact of globalization can be seen taking into consideration two categories. First is related to market globalization in which the emphasis is given to satisfy the needs and wants of the consumers (Woodside, 2016).

Due to globalization, there are many organizations that are able to promote the products and services in the market. It is also seen that to promote the product and services globally, it is essential to take into consideration proper taste and preference of the consumers. The small firms can also promote the products and services internationally just because of the globalization of the markets.  Nest category is related to the production globalization. In this the globalization is one of the effective methods that help to interact with a particular market and also that enhances the flow of products and services in the market (Rauniar et al., 2014).

Technology has brought a drastic change in the future and also in the field of marketing it has assisted the company to enhance the products and services. With the help of the latest technology, the company can easily conduct the activities in less time and with more efficiency. The consumers take into consideration the use of the latest technology like mobiles and laptops that help the organization to promote the products and services in a proper manner (Peek et al., 2014). The biggest challenge for many companies is to communicate with the consumers but with the latest technology the companies can easily communicate and give knowledge about the products and services offered to the consumers. It is also very convenient for the consumers to purchase the products and services in future also.

 The technology will bring more changes and make the process simpler for both the consumer and the company. There are many brands like Nike and Puma who conducts the campaign on the social media and due to this, they analyze the enhancement of the sales. By giving focus on the future, it is seen that the companies can easily promote the products and services and the consumers can also easily avail the products and services offered by the company (Hsieh et al., 2018).

This is one of the important factors that will bring change in future. By giving emphasis on social responsibility it is evaluated that the company will increase the growth and profitability easily in the market.  The image of the company is also enhanced if proper social responsibility is taken into consideration.  If the company gives emphasis on social responsibility, then the change in future can be made and the company can achieve the positive outcome in future. This factor attracts customers towards the products that not only enhance the sale of the products but also help the company to enhance its marketing in future (Naresh and Prakash, 2015).

Globalization: Increasing Profitability

Globalization helps the organization to enhance its marketing and also attain the profitability. With the enhancement of the technology, the company can easily sell the products and services on the international level.  Travelling by taking into consideration the international platform has also given enhancement in the working pattern of many companies (Smilansky, 2017).  There are many markets that are merged into the single market by taking into consideration the requirements of the consumers. The company can only achieve success if there is high satisfaction level of the consumers.

The development in the field of the technology has given enhancement in satisfying the needs and wants of the consumers. If the company does not take into consideration latest technology, then it can be very difficult to market or promote the products and services in the market. For example, internet has given drastic change in the lives of the people (Turkle, 2017).  If the company does not promote the products and services on the social platform, then it cannot be possible to attain profitability and growth in the organization. So, it is essential for the organization to take into consideration the latest technology, so that the marketing of the products and services can be done effectively (Scott, 2015).

The high competition level in the market also gives negative impact on marketing. If the level of competition is high in the market, then it is important for the company to enhance its marketing strategies so that the goals and objectives can be accomplished.  If the focus is not given on the enhancement of the marketing strategies, then it is not possible to attain profitability in an effective manner. To survive in the competitive environment it is important to take into consideration proper strategies so that the marketing can be done effectively (Sheth and Sisodia, 2015).

Conclusion 

By analyzing the report, it is evaluated that it is essential to consider the new marketing realities, and then only the company can accomplish the goals and objectives. The new marketing realities that are discussed in this report are technology, social responsibility, and globalization. It is essential for the organization to give focus on the marketing realities so that the sales can be enhanced and profitability can be attained in a proper manner. The forces are also taken into consideration in this report. The forces that give direct impact on marketing are competition and technological factor. The emphasis should be given on the forces so that the marketing can be conducted smoothly. Marketing is essential for an organization to survive in the competitive environment.

References

Cheung, R., & Vogel, D. (2013). Predicting user acceptance of collaborative technologies: An extension of the technology acceptance model for e-learning. Computers & Education, 63, 160-175.

Fitchett, J., & Caruana, R. (2015). Exploring the role of discourse in marketing and consumer research. Journal of Consumer Behaviour, 14(1), 1-12.

Hsieh, Y. C., Chiu, H. C., Tang, Y. C., & Lee, M. (2018). Do Colors Change Realities in Online Shopping?. Journal of Interactive Marketing, 41, 14-27.

Morgan-Thomas, A., & Veloutsou, C. (2013). Beyond technology acceptance: Brand relationships and online brand experience. Journal of Business Research, 66(1), 21-27.

Naresh, M. S., & Prakash, J. (2015). Marketing films through Social Realities: Shyam Benegal’s ‘Welcome to Sajjanpur’-A Case Study. International Journal of Scientific and Research Publications, 5(2), 1-8.

Peek, S. T., Wouters, E. J., van Hoof, J., Luijkx, K. G., Boeije, H. R., & Vrijhoef, H. J. (2014). Factors influencing acceptance of technology for aging in place: a systematic review. International journal of medical informatics, 83(4), 235-248.

Rauniar, R., Rawski, G., Yang, J., & Johnson, B. (2014). Technology acceptance model (TAM) and social media usage: an empirical study on Facebook. Journal of Enterprise Information Management, 27(1), 6-30.

Scott, D. M. (2015). The new rules of marketing and PR: How to use social media, online video, mobile applications, blogs, news releases, and viral marketing to reach buyers directly. John Wiley & Sons.

Sheth, J. N., & Sisodia, R. S. (2015). Does marketing need reform?: Fresh perspectives on the future. Routledge.

Smilansky, S. (2017). Experiential marketing: A practical guide to interactive brand experiences. Kogan Page Publishers.

Turkle, S. (2017). Alone together: Why we expect more from technology and less from each other. Hachette UK.

Woodside, A. G. (2016). Embrace Complexity Theory, Perform Contrarian Case Analysis, and Model Multiple Realities. In Bad to Good: Achieving High Quality and Impact in Your Research (pp. 57-81). Emerald Group Publishing Limited.