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Marketing 5 0
TODAY'S MARKETING
Editors
Assoc. Prof. Dr. İnci ERDOĞAN TARAKÇI
Asst. Prof. Dr. Ramazan ASLAN
The Essentials of Today's Marketing
Editor Editor
İnci ERDOĞAN TARAKÇI Ramazan ASLAN
ORCID (0000-0002-4101-7111) ORCID (0000-0002-1427-8543)
ISBN 978-625-6939-76-9
E-ISBN 978-625-6939-77-6
First Edition March 2023
This book; publication, sale and copying rights belong to EFE ACADEMY.
Library Card
The Essentials of Today's Marketing
ERDOĞAN TARAKÇI, İnci – ASLAN, Ramazan
First Edition, 288 p., 160 x 235 mm.
Keywords:
1. Marketing, 2. Digitalization, 3. Management, 4.Social Sciences
Design Burak GÜNGÖR (burakgungor@efeakademi.com)
Cover Design Gamze DUMLU (gamzedumlu.2710@gmail.com)
Certificate No 49168
Printing Certificate No 49168
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4
CONTENTS
PREFACE.............................................................................................................. 3
HR MARKETING .............................................................................................. 37
Çağla DEMİR
5
SENSORY MARKETING ................................................................................ 217
Serhat BİNGÖL
6
MARKETING 5.0
87
Introduction
Developments in information and communication technologies have
affected digital transformation. Digital transformation has reshaped human
life in the modern world. People have rapidly changed their production and
consumption habits. Traditional marketing understanding has been
insufficient to understand the modern consumer. The consumer has become
flexible. Because, in the global competitive environment, the consumer was
able to instantly access the product or service they wanted and make
comparisons (Spangenberg, & Lorek, 2019). Therefore, analysis of consumer
behavior and producer-consumer cooperation became inevitable. Traditional
marketing approaches have taken a new form with digital combinations.
Marketing in the modern world has evolved from 1.0 to 5.0 (Ödemiş, &
Hassan, 2019).
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businesses that offer the quality they want in the product. It is a period in
which the global competitive environment has increased, the flexible
consumer profile has become widespread, and customer loyalty has decreased.
Consumers choose the most suitable product among the alternatives.
Businesses have started to give importance to consumers in their marketing
processes (Kotler et al., 2010).
89
quickly and effectively, being a static method, lack of interaction, and a
flexible marketing approach (Singla et al., 2021).
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*Reaching the market in traditional marketing is paid. Digital
marketing is generally free.
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Table 1. The Evolution of Marketing
Marketing 3.0
Marketing 1.0 Marketing 2.0
(People
(Product Oriented) (Consumer Oriented)
Oriented)
Making the
Aim Sell products Customer satisfaction world a better
place
92
Marketing 5.0
93
personal content can be produced and presented. Thus, businesses can make
effective decisions in multi-channel interactive processes.
94
Figure 1. Artificial Intelligence and Business-Customer Relationship (Perez-
Vega et al., 2021)
Data-Driven Marketing
95
The key to success is understanding customer wants and needs. In this
context, big data is very valuable. It is the processing of customer data needed
to understand consumer preferences and meet their expectations. Businesses
can gain some advantages with the effective execution of data-based
marketing processes. These (Grandhi et al., 2021):
Agile Marketing
96
Businesses can gain a competitive advantage when they can renew
and differentiate themselves. Businesses need to be aware of the changes in
the market and potential customers in modern society where technology is
developing rapidly. Businesses should identify the current situation, possible
situations, opportunities, and threats in the market. Businesses can create a
dynamic business culture, renew themselves, and differentiate themselves
(Yusoff et al., 2019). Thus, they will continue to expand their market shares
and gain a competitive advantage. In this context, businesses can develop
innovative, different, applicable, fast, and utilitarian solutions (Uygur et al.,
2019).
Predictive Marketing
97
information systems in processes. How managers process and evaluate data
affects the success of the process. Businesses can establish the right strategy
and planning. So they will be able to increase their market share (Beauvisage,
& Mellet, 2019).
Contextual Marketing
98
Augmented Marketing
Conclusion
99
agile and data-based marketing disciplines. These form the core components
of Marketing 5.0.
100
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