Skip to main content

MARKETING 2.0: A REVOLUTION IN MARKETING

"Marketing 2.0" is the label being given to the new ways marketing is being practiced with Web 2.0 concepts and tools. While these new ways are particularly evident in marketing communications (how sellers and buyers talk to one another), they are affecting the entire practice of marketing.

Several factors have contributed to the growing excitement amongst marketers about Marketing 2.0, including: (a) the growing availability of broadband Internet connections, (b) the much easier searchability of the Internet, (c) the increased experience and self-confidence of Internet users, (d) the increased skepticism of all corporate communications (from press releases to advertising), and (e) the increased physical separation of people (resulting in desires for 'virtual socialization'). Marketing 2.0 is all about tapping into the remarkable growth in 'social networking'.

In many ways, Marketing 2.0 is an attempt to leverage an old marketing idea : potential customers frequently trust and value the opinions of one another more than they do the commercial messages of corporations trying to sell them something; that is, word-of-mouth (WOM). WOM has never been controllable by marketers, but today WOM is active in ways unimaginable to marketers in the past. Marketers have two basic stances they can take WOM online: (a) they can listen and observe and learn (of course, they must respect privacy rights and the rules of online communities as they do this), and (b) they can actively enter into the conversation attempting to steer it or encourage greater dissemination of it (some refer to such interventions around WOM as "buzz marketing" or "viral marketing").

The techniques for social networking are changing continuously, but here is a list of the majors today:

  1. Blog (personal; easily updates websites plus blogging aggregators, e,g., Twitter)
  2. Online communities (e.g., Facebook, Myspace, LinkedIn)
  3. Podcasting and videocasting (e.g., YouTube)
  4. Virtual worlds (e.g., Second Life)
  5. Widgets and wikis (e.g., Wikipedia)
  6. Online games and contests)
  7. RSS feeds (means "really simple syndication" to track other sites)
Sophisticated marketers are experimenting with and learning about Marketing 2.0 new methods of marketing research to get more authentic views of customers; new ways to design and promulgate marketing communication campaigns; and new ways to complement distribution systems. As a consequence, new markets are being opened and new measures of marketing performance are being created. However, Marketing 2.0 does NOT mean that all of the rest of this note will soon be obsolete. On the contrary, successful use Marketing 2.0 techniques requires effective application of the fundamental principles of marketing.

Comments

Post a Comment

Popular posts from this blog

EMOTIONAL BRANDING MERGED WITH SOCIAL MEDIA Companies and customers co-exist. Without any customer, no company can survive and on the other hand, if there is no need, want or desire of the customers, there will be no need of company. So, companies market their products and services to customers and customers need products and services to fulfil their needs, wants and desires. To obtain a better relationship with customers, companies need to make themselves strong yet humble in nature and continuously try to improve for better. This will enhance them to gain customer loyalty, customer retention and gaining more customers. In this cut-throat market today, where each company is trying best to survive itself in customers’ minds. Doing SWOT analysis (identifying strengths, weaknesses, opportunities and threats) from time to time, making use of proper resources, implementing extraordinary tools and techniques of marketing has become the need of the hour to create POD (Point of Diff...
10 comments
Read more

SELLING PRODUCT ONLINE: CONCEPT AND NECESSITY

To sell the product online, we need to understand concept of E-retailing or simply E-tailing. E-retailing  or E-tailing is defined as, "The sale of goods and services through the Internet." Electronic retailing, or e-tailing, can include business-to-business and business-to-consumer sales. E-tailing revenue can come from the sale of products and services, through subscriptions to website content, or through advertising. E-tailing requires businesses to tailor traditional business models to the rapidly changing face of the Internet and its users. E-tailers are not restricted solely to the Internet, and some brick-and-mortar businesses also operate websites to reach consumers. Online retailing is normally referred to as e-tailing. Now for the product to be sold online, let us think why is it necessary for us to sell our product online and what benefits can we achieve from it? Why should we decide to go online? In my view, the answer is changing Consumer Behaviour....
9 comments
Read more

COLOURS ARE THE NEW BRANDS!!!

Colours have been a part of recognition today. Each action and experience of our life can be represented by colours. Though these colours are given by Nature, we have been customizing it through our likings and preferences. Colour, thus, is an important emerging element in the field of marketing. The marketers are playing with colours to understand how colours as an attribute can enhance their product likings among the customers. Every person has his/her own preference in colours based on some parameters like past experiences, eye appealing, aura generating, feeling of warmth or coldness, age, gender. Like, there’s a tendency to say that pink is for girls and blue is for boys. Though, it’s not true in all cases. There are basic twelve colours along with a lot of shades for each one of them. So, it would be highly inappropriate to come to a conclusion on the marketer’s end to decide which colour can get more customers, without any proper research or observation, because there are ...
8 comments
Read more