PART 01

The concept and role of marketing in the 21st century

A new economy has evolved in the twenty-first century as a result of significant technological
breakthroughs. To grasp the modern industry, it is necessary to first know the old. The old
economy began with a focus on mass production of standardised commodities. Companies
expanded into new markets around the world as production increased, lowering prices and
catering to a larger customer base (Gamble et al., 2011). Top management issued orders, which
were carried out by middle management in charge of the workforce in the old economy.

However, in today's world, the digital revolution has given consumers more purchasing power.
Consumers have access to all product and service information. Homogeneity has given way to a
massive increase in product offerings. Customers may now buy online 24 hours a day, seven
days a week and have their items shipped straight to their offices or homes.

Data is also being used to improve customer marketing plans and distribution channels. As a
result of the digital revolution, messages sent via text message or email have all seen significant
speed increases. As a result, making decisions and putting plans into action becomes easier
(Ameen and Waraich, 2007).
Marketing is the act of promoting goods and services to customers and businesses. Marketing
encompasses everything from products and services to locations and ideas. This presents a
number of difficulties for marketers. Customers make target market decisions regarding product
and packaging design and distribution.

Marketing professionals must have a thorough understanding of the products they sell in order to
maintain or build a reputation in a given industry. Additionally, marketers must consider trade
restrictions, trade relationships, and market conventions (Ameen and Waraich, 2007). For non-
profit firms with limited means, product pricing is crucial, and firms must create and distribute
products accordingly.
Any organization's marketing strategy must consider the interests of the company, its customers,
and society as a whole. Companies support a strong correlation between large production
numbers and lower unit costs and mass distribution (Ameen and Waraich, 2007). Large
quantities of goods are required in a developing market, and this method works well in that
market. Customers are willing to pay a premium for high-quality products, so companies
concentrate on producing them well.

Individuals should be forced to buy something they would not want otherwise, according to the
selling philosophy. Thus, in accordance with the marketing concept, products are developed and
sold solely based on customer demand.

The customer philosophy is based on customizing products based on previous client transactions.
The final philosophy is social, which holds that products should be designed in such a way that
they benefit society and the environment while also meeting the needs of their customers
(Lavidge, 1970).

The technological age and the dawn of the twenty-first century have forced businesses to
transform. In an effort to save money, many companies are looking to streamline their processes
and systems (Lavidge, 1970). At many businesses, work is increasingly being done locally (or
globally-locally). Companies' marketing departments seek similar long-term relationships with
their customers. This collaboration will allow us to better understand the needs of our customers.
Distribution networks are viewed as trading partners rather than shoppers by marketing
professionals. Desktop models are used by marketers and advertisers to make a judgement.

Roles and responsibilities in marketing

Marketers are tasked with educating the public about a company's goods and services so that
they may make an informed purchasing decision. In order to be an effective marketer, one must
connect with the company's marketing team and determine the interests, preferences, and needs
of the target market.
Communication

Marketing is a great career choice if you are fluent in English. Marketers must be able to
effectively communicate information about their companies, goods, and services. Marketing
professionals write copy for ads, press releases, and other professional communications.
Marketing communications specialists can design, write, and create multimedia campaigns, to
name a few (Webster Jr, 1992). A thorough understanding of the finished product and the
intended audience is required. Marketers nowadays must be able to communicate clearly.

Having a Say

Public speaking abilities aren't required for every marketing career, but many do. Many salesmen
might improve their public speaking skills. One may be requested to speak in front of a group to
introduce a new product or marketing campaign (Webster Jr, 1992). Marketers usually have to
pitch their ideas to upper management, the board of directors, peers, and clients. It's fairly
uncommon for marketing professionals to host large meetings of potential customers. Customers
are more likely to hire a company that has a good public speaker on staff.

Analytical Skills

Marketers' work is often both creative and analytical. To be successful, today's marketers must
understand the value of data and how to use it to inform future marketing decisions. Today's
marketing requires in-depth data research to define target audience goals, needs, and interests.
Modern marketers plan and design strategies based on data. Data collection and analysis
specialists must also be able to quickly change direction when new data is collected.

Creativity

Despite the increasing analytical nature of advertising, it's still a great job choice for creative
people. Many marketers look outside the box and come up with creative marketing strategies.
Professional marketers must be able to think of something unique and unusual that helps a firm
stand out from the crowd (Ruekert et al., 1987). Marketing experts must come up with innovative
ideas that appeal to target clients in order to attract them and persuade them to select one brand
over another. Think outside the box when it comes to ad design, distribution, and more. Make
unique and compelling stories.

Negotiation

Today's marketers will need to negotiate constantly. One may need to bargain with customers to
set expectations, a timeframe, or pricing. Marketers may need to negotiate with designers,
suppliers, venues, and other campaign experts (Ruekert et al., 1987). Communication is key in
negotiation. Competent negotiators can also appraise a strategy's strengths rapidly.

Adaptability

Modern marketing is dynamic. Social media marketing and influencer marketing were unknown
just a few decades ago. To work in marketing, you must be aware that your function will evolve
with marketing and marketing technologies. In 10 years, product or service sales will probably
look significantly different. To survive in today's world, marketing gurus must be versatile,
curious, and up to date.

New Technology Expertise

Today's successful marketer must also stay up to new technology and be open to new marketing
strategies. Nowadays, almost every part of marketing relies on technology. Technologically
savvy marketers are the most successful and fastest-rising (Lavidge, 1970). Marketers have an
increasing number of alternatives when it comes to leveraging technology.

How the marketing function works and interacts with other departments

Publicity Using social media

As an example, have a look at some of the most popular fast-food restaurants on social media.
All of these qualities are present in the work they do. Customers are more likely to buy
something if they are reminded of it on a daily basis. A terrific way to promote staff and make
customers feel like they're part of the shop community is by using this strategy. –

Don't Go Far

Plastic straws have been outlawed in some places. Everywhere you go, you'll find farmers'
markets. Sustainable, environmentally friendly lifestyles are becoming more and more popular
among families (Lavidge, 1970). In order to participate in the movement as a grocery store, one
can stock local produce, such as local meats and eggs. Promoting these local offerings on social
media boosts the number of visitors.

Ads That Run During Specific Times of the Year

Seasonal incentives, according to supermarket operators, can only be offered in the fall and
winter. So, there's no need to wait for the holidays to cash in. Because of the reduced number of
days between Easter, Valentine's Day, and Mother's Day, they may be able to make money all
year around. There's a perception that big supermarkets are terrible (Ameen and Waraich, 2007).
It may be necessary to exert considerable effort in order to persuade clients to change their
thoughts. It's possible to create a positive reputation with clients by focusing on national holidays
from both countries and regions.

Basically, they're trying to attract more affluent customers to the store. In addition to offering a
wide range of goods, the supermarket serves as a hub for other similar establishments. Even
though it's little, it's comparable to a large retail mall in terms of amenities (Ameen and Waraich,
2007). When people come to visit and make purchases, they may also take a tour to get a better
sense of the new market. Despite the fact that consumers may not intend to, they still use this
free marketing to obtain other items.
The importance of a company's vision and purpose for strategic direction cannot be overstated.
An organization's goals and beliefs are communicated to its employees through this method.
Setting priorities, allocating resources, and assuring that everyone is working towards the same
end goal is an important part of any company goal, and it provides a road map for the future.
Reference
Ameen, K. and Waraich, N.F., 2007. ROLE OF MARKETING IN THE 21ST CENTURY
LIBRARIES IN PAKISTAN. Pakistan Library & Information Science Journal, 38(4).
Gamble, J., Gilmore, A., McCartan-Quinn, D. and Durkan, P., 2011. The Marketing concept in
the 21st century: A review of how Marketing has been defined since the 1960s. The marketing
review, 11(3), pp.227-248.
Lavidge, R.J., 1970. The growing responsibilities of marketing. Journal of Marketing, 34(1),
pp.25-28.
Ruekert, R.W. and Walker Jr, O.C., 1987. Marketing's interaction with other functional units: A
conceptual framework and empirical evidence. Journal of marketing, 51(1), pp.1-19.
Webster Jr, F.E., 1992. The changing role of marketing in the corporation. Journal of
marketing, 56(4), pp.1-17.