Transcript Marketing Trends

MARKETING TRENDS
Nick Mercuro
Austin Moore
John Skinner
WHAT ARE MARKETING TRENDS?
 A market trend is a tendency of financial markets to move in
a particular direction over time.
 Many factors ef fect these trends such as…
- Technological Advancements
- Changes in Economy
- Changes in Interests
- Demographics
TECHNOLOGICAL ADVANCEMENTS
 Over the past decade major advancements in science, human
research, and technology have been made to help make human
life more enjoyable and convenient.
 Some of the major advancements include…
- The Internet
- Smart Phones
- Social Media
- Television
 With this influx of people (especially teens) using this new
technology, companies are now able to market their products via
T.V. commercial, iPhone game ad, Twitter, Facebook, or YouTube
sponsorship ad allowing for constant exposure.
 In fact percentages show that the average person from the year
2000 will spend 70% of their life in front of digital media and
watch a total of 2 years worth of commercials.
TECHNOLOGICAL ADVANCEMENTS
(CONTINUED)
 Social media and the internet also allow companies to figure
out what the public and their target market are interested in.
 Companies can easily see what is trending online and be
constantly up to date on the newest ideas and products.
 Business can also conduct online surveys which can then be
instantly stored into data charts and tables allowing them to
make future decisions.
 Technology also allows the customer to write reviews for a
businesses product which can promote the product or inform
the company of any issues.
IMPACT OF EMERGING ECONOMIES ON
DISTRIBUTION
 Emerging economies tend to have…
- Technological Advancements
- Social/ Political changes
- Low Labor Costs/ Low Unemployment Levels
- High Demand for Products (Aggregate Demand)
- High Gross Domestic Product (GDP)
- Foreign Trade
 As the amount of labor/development in technology increases,
countries tend to become more efficient.
 This surplus in work helps to create a higher demand for product
as more people have jobs/money to spend.
 A lot of times countries decide that they can make even more
money by specializing on one field of industry so they trade with
other foreign countries.
CHANGING DEMOGRAPHICS
 Changing demographics means a change in your customer’s
wants and needs
 This can come about through migration, changes in family
structure, changes in beliefs and interests, average age
increasing or decreasing, ext.
 When demographics change, businesses need to change their
product development, tailoring it to the new interests and
need of the customers they are serving.
 For example, if you have an increasing average age in the
consumers that you serve, you should develop products that
appeal more to the elderly community and not so much to
teenagers and kids.
ECONOMIC IMPACT
 In more general terms, the economy is the thing that puts
money in the pockets of consumers to spend at your business.
 The health of the economy can change how you make
business decisions and how you market your business or
products.
 In a healthy economy, consumers will have more money to
spend on leisure and higher end products.
 As a business you can take advantage of this by providing a
product or service that is not a necessity, but will make the
life of the consumer a little better, at a higher price point
increasing your margins
ECONOMIC IMPACTS CONTINUED
 In a poor economy consumer are going to be more
reluctant to spend.
 As a business you can take advantage of this by
providing something that is deemed a necessity by
the consumer at a lower price point, so the
consumer doesn’t feel that they are spending to
much for it.
 Also you should market the business with a good
image.
 For example show the customers that your business
is helping the community. such as providing jobs for
the residents, donating to charities, or being
environmentally friendly.
 If the customers feel that your business is giving
back to their community in their time of need they
will feel better about spending their money there.
TWO IMPORTANT TRENDS FACING
MARKERS TODAY
 Disintermediation: The web has, and will continue to create
new business models and an attractive destination for
consumers. This is a great tool for businesses and marketers.
 Greater Retail Power: As Wal-Mart, Tesco, and Carrefour
continue to face a tough, competitive environment, they are
likely to lean harder on manufacturers, especially Consumer
Packaged Goods [CPG] companies which, in turn, are likely to
apply more pressure on their suppliers.