In this short paper an attempt will be made to present the old and new scenarios of marketing. This paper focuses on the old versus new rules of marketing.
The separator of old and new rules of marketing is the web. Prior to the arrival of the web, marketing organizations had only two significant options for attracting attention of clients: Buy expensive advertising or get endorsement, mainly through advertorials, from the media. But the web has changed the rules. Organizations that understand the new rules of marketing develop relationships directly with consumers. In this scenario advertising today is a money pit of wasted resources. The web has opened a tremendous opportunity to reach niche buyers directly with targeted information that costs a fraction of what big-budget advertising costs. With old rules of marketing it simply meant advertising and branding; advertising needed to appeal to the masses; advertising relied on interrupting (for instance a TV show) to gain people’s attention to a product; it was one way, company to consumer; creativity was deemed the most important component of advertising; it was more important for the ad agency to win advertising awards than for the client to win new customers. None of this is true anymore; the web has transformed the rules; this paper would like to argue that a company must transform its marketing to make the most of the web-enabled marketplace of ideas.
Old style Advertising and Public Relations firms’ role may have diminished drastically but their role is not extinguished. In the cyber age these have gone online. The wise thing for companies to do is to combine both the old and new ways of marketing, the emphasis perhaps being on the new. Online has provided companies the best opportunity ever to expand into global markets. Marketing has become borderless.
This is a paper presented at an international conference.
Table of Contents
1. Introduction
2. Marketing
3. Objectives of the Research
4. Research methodology
5. Marketing Communication
6. The Need for Marketing Communications
7. Traditional Marketing Communications Mix
7.1 Marketing Mix
8. New Rules of Marketing
9. Integrating the Old and New Marketing Mix
10. Conclusion
Objectives and Themes
The primary objective of this paper is to examine the fundamental shifts in marketing practices brought about by the emergence of the digital age. It explores the transition from traditional, mass-oriented, and one-way marketing models to interactive, web-based strategies that prioritize direct consumer relationships and targeted engagement.
- The evolution of marketing paradigms from traditional media to internet-driven strategies.
- The adaptation of the marketing mix (4 Ps) to include digital-age requirements.
- Analysis of marketing communication models, including control, content, audience, and media analysis.
- The shift from "push" marketing mechanisms to "pull" mechanisms facilitated by web interactivity.
- Strategies for integrating traditional and modern marketing tactics to maximize business outcomes.
Excerpt from the Book
8. New Rules of Marketing
New rules of marketing is conveyed through new forms of communication namely through digital medium. “The internet and other digital media such as digital television and mobile phones enable new forms of interaction and new models for information exchange.” How this is done is explained by using the model developed by McDonald and Wilson (1999). They describe the ‘6 Is of the e-marketing mix’.
1) Interactivity: the modus operandi are the following: a) the customer initiates contact seeking information; b) the marketer is fully attentive to the customer when he/she is viewing a website; c) the company gathers and stores the data about the customer; d) individual needs of the customer will be taken into account and addressed in the future.
Old media were/are predominantly push media – marketing message was/is sent from company to customer and other stakeholders. There is limited interaction with the customer. On the web medium it is often the customer who initiates contact and is seeking information. In other words it is a pull mechanism. Therefore, it is important for an industry to have good visibility in search engines (Chaffey, 21). The internet is being used for two-way communications, which may be extensions of the traditional direct-response approach. According to Hoffman and Novak (1997) digital media represent such a shift in the model of communication that it is a new model or paradigm for marketing communications. They suggest that in this mode of communication the medium itself comes into play: “Consumers can interact with the medium, firms can provide content to the medium, and in the most radical departure from traditional marketing environments, consumers can provide commercially-oriented content to the media.”
Summary of Chapters
1. Introduction: Outlines the shift from old to new marketing rules driven by the internet and the transition from traditional to new media.
2. Marketing: Defines marketing and explains the need to expand the traditional 4 Ps framework with digital dimensions and additional elements like People and Process.
3. Objectives of the Research: States the paper's intent to explain digital-age marketing changes, compare traditional and modern methods, and identify benefits of new rules.
4. Research methodology: Describes the study as a descriptive-explanatory approach focused on the transition from traditional to modern marketing modes.
5. Marketing Communication: Analyzes marketing through communication theory, using Laswell’s framework to evaluate control, content, audience, media, and effect.
6. The Need for Marketing Communications: Discusses how total product offerings help companies and consumers reach their respective goals through effective communication.
7. Traditional Marketing Communications Mix: Details common promotion tools like advertising and public relations, while introducing the traditional Marketing Mix variables.
7.1 Marketing Mix: Defines the four traditional variables—Product, Price, Place, and Promotion—within the context of a company's target market objectives.
8. New Rules of Marketing: Explains the "6 Is of the e-marketing mix" and contrasts "push" and "pull" mechanisms in the digital environment.
9. Integrating the Old and New Marketing Mix: Advocates for a hybrid approach that combines traditional awareness-building tactics with modern internet-based relationship strategies.
10. Conclusion: Summarizes that while traditional methods remain relevant, companies should integrate new online strategies to succeed in a borderless global market.
Key Words
Marketing, Internet, Web, Marketing Mix, Communication, Digital Marketing, Traditional Marketing, E-marketing, Interaction, Intelligence, Individualisation, Integration, Industry Restructuring, Online Marketing, Promotion
Frequently Asked Questions
What is the core focus of this publication?
The publication examines the transformation of marketing practices due to the advent of the internet, contrasting traditional mass-marketing approaches with modern, web-enabled strategies.
What are the primary thematic areas covered?
The main themes include the evolution of marketing communication, the adaptation of the Marketing Mix, the shift from push to pull marketing, and the integration of online and offline strategies.
What is the overarching research question of this study?
The study seeks to understand how the internet has fundamentally changed marketing and what benefits organizations can achieve by adopting new, web-enabled rules of marketing.
Which scientific methodology is utilized in this paper?
The paper employs a descriptive-explanatory research methodology, exploring and explaining the characteristics and functions of marketing as it transitions from traditional to digital models.
What does the main body of the paper discuss?
The main body covers communication theory in marketing, the traditional 4 Ps, the new rules of e-marketing, and practical insights on integrating physical and digital marketing efforts.
Which keywords best characterize this work?
Key terms include Marketing, Internet, Web, Marketing Mix, Digital Marketing, E-marketing, and Communication.
What are the "6 Is of the e-marketing mix" mentioned in the text?
The "6 Is" are Interactivity, Intelligence, Individualisation, Integration, Industry restructuring, and Independence of location, which define the operational dynamics of digital marketing.
How does the paper differentiate between "push" and "pull" marketing?
Push media, associated with traditional marketing, sends messages to consumers with limited interaction, whereas the web medium acts as a pull mechanism, where consumers initiate contact and seek information.
What is the author's final conclusion regarding traditional versus modern marketing?
The author concludes that rather than abandoning traditional methods, companies should strategically combine them with new, online marketing tactics to maximize their reach in a borderless marketplace.
- Arbeit zitieren
- Francis Arackal Thummy (Autor:in), 2018, Old versus New Rules of Marketing, München, GRIN Verlag, https://www.grin.com/document/462818
