Digital revolution

 Today, the digital revolution of the market place allows much greater customization
of products, services and promotional message than older marketing tool.
 By doing so, it enables marketers to build and maintain relationship with customers
just like the sales person grocer and jeweler.
 Digital technologies also enable the marketers to collect and analyze increasingly
complex data on consumers buying patterns and personal characteristics.
 The same technologies enable the consumers find more information about products
or services.

The growth of the information

super highway

 The rapid growth in the technological environment has changed the face of
competition and structure of the market place.
 Marketing is being used, not only to identify consumer needs and wants but also to
reward them for their loyalty.
 Technology is so advanced that it gives the customers a range of benefits that he/
she can enjoy

The digital revolution has introduced several drastic

changes into the business environment

 Consumers have more power than ever before.

 Consumers have access to more information than ever before.
 Marketers can offer more services and products than ever before.
 The exchange between marketers and consumers is increasingly interactive and
instantaneous.
 Marketers can gather more information about consumers more quickly and easily.
 Impact reach beyond the PC – based connecting to the web.
 Consumers have more power than
ever before

 They can use “intelligent agents” to locate the best prices for products or services,
bid on various marketing offerings, bypass distribution outlets and middle men, and
shop for good around the globe and around the clock from the convinces of their
homes.

Consumers have access to more

Information than ever before

 They can easily fine reviews for products they are considering buying that have been
posted by previous buyers, Click a button to compare the features of different
products models at the site of online retailers and subscribe “virtual/ communities”
of persons who share the same interest they do.

Marketers can offer more services

and products than ever before
 The digitization of information enables seller to customize the product and services
they are selling and still them at reasonable price it also allows marketers to
customize the promotional message directed at any customers.

The exchange between marketers and consumers

is increasingly interactive and instantaneous

 Traditional Advertising is a one way street where the marketers pays a large sum of
money to reach a large number of potential buyers via a mass medium and then
asses whether or not the message was effective via future sales or marketers
studies.
 Digital communication enables a two-way interactive exchange in which consumer
can instantly react to the marketer’s message.
 Marketers can gather more information about
Consumers more quickly and easily

 Marketers can track consumers’ online behavior and also gather information by
requiring visitors to web site to register and provide some information about
themselves before they get access to the site’s thus marketers can construct and
update their consumer database efficiently and inexpensively.

The Growth of relationship marketing.

 Relationship is a term meant the mean the process of building long term
commitment and loyalty from customer the growth of relationship marketing places
the emphasis that the transaction by a customer should not be seen as one off
transaction but rather a mechanism of building a long term relationship with the
client.

The growth of relationship……………

 The process of relationship marketing involves all activities, which an organization
can use to build maintain customers relationships.
 This concept is a relatively new concept that marketers are practicing, since firm
have understood that in this competitive world.
 Gaining customer loyalty pays in the long term.
 However relationship marketing is not a substitute to the exchange process that
takes place between a consumer and an organization, it only catalyst that for
providing value for both practice and make both, the seller and the buyers satisfied.
 Social and ethical issues will be the
overriding issues

 Today companies are been evaluated for their ethical behavior in the market place it
has become a measure of corporate excellence and shareholder increasingly
demanding that organization to conduct business in amore ethical manner.
 Bad quality is Baby trap, waiting destroy any organization and everything around it
defective products have annihilated companies, careers, customers and
communities.
 Some companies show lip service to quality until they are beaten by competition.
Other suffers costly tragedies because the organization was not quality driven.

Increase in the emphasis of quality and innovation

 As companies try to increase their competitive stance in the market place they
should not forget the customers are becoming sophisticated. Customers are
expending higher degree of care from organization today unlike the bygone era.

Ethics in Business and its relevance to the study of

consumer behavior

 The understanding of consumer behavior gives a clear advantage to the marketer

who would know all that is there to know about target consumer's personality and
choices.