Acknowledgement
I would like to express my special thanks of gratitude to my teacher Miss. Ruwini Karunarathna who gave me the perfect knowledge to do this assignment successfully. Then I would like to thank my friends who helped me a lot in finalizing this assignment.
Abstract
After the globalization, there are drastic changes in every field of Industry. Due to these changes the Industrial sector has started to adopt the new technologies and techniques. The ruthless competition was created after globalization. It was a really challenging task for the manufacturing and others sectors to sustain in the environment. For this purpose they have made crucial reforms in major department like Purchase, Quality, Production and Marketing. After globalization there was shift of paradigm from sales to marketing. Now the concept sale is nearly abolished, and today the Marketing departments in organizations are facing new challenges while catching the target market and retaining them. This is happening due to various factors like Social media, E-Marketing, E-commerce. The buying behavior of the Customer is also changing tremendously. To counter the situation the industries have already started to adopt new marketing strategies and tools.
Table of Contents
Acknowledgement i
Abstract ii
Table of Contents iii
Introduction 1
Social Marketing 2
Relationship Marketing 3
Green Marketing 4
Personalized Everything 5
Better video content 5
Mobile marketing 5
Conclusion 6
References 7
Appendices 8
Gantt Chart 8
Introduction
In early ages of Industrialization, there was the concept of Selling it totally depends on the supplier that what should be offered to the customer? At what cost? When & where? Etc. There was not any awareness about who is the customer? What are their needs? What is his choice? After 1970 the economic trend was shifted from rigid economy to open economy. That was the real starting period of concept „Marketing management. At that time various concept of Marketing like target market, segmentation were developed. Now after globalization, the situation is totally different. Number of competitors are there, who are manufacturing the same product. Customer is looking for quality, variety and reasonable cost. He is becoming choosier, hence it is necessary to develop new strategies of marketing by considering buying pattern of customer. It is essential to develop new strategies for sustainability as well as to enhance the market share of organization. Market leader strategy, Market follower strategy, Market follower strategy are three traditional strategies. Apart from that in the today’s word of E-commerce it is required develop and establish the new strategies. There is a profound impact of latest technology in the field of marketing.
Social Marketing
• “An umbrella term that defines the various activities that integrate technology, social interaction, and the construction of words and pictures.” – Anvil Media
(Mass Comm ; pop arts Chapter 8 Flashcards | Quizlet, 2018)
We need to have creative idea for social marketing.
• Social Market-Talking about today world there is 96% of Millennial have joined the social network. The quickest developing fragment on Facebook is 50-55 years old.76% of individuals trust shopper proposal of procurement choice. There is likewise a little section of individuals on the planet which put stock in superstars. It is found in explore that organizations who haven’t taken a shot at social promoting is looking down deals.
• Size of social market-The span of social market is as large as you can consider there are zillion of person to person communication site. Presently a day’s normal individuals spend more than 1hr and on long range social networking website. Site like Google, Facebook, YouTube their fundamental pay is from the commercials on their site.
Relationship Marketing
What is Relationship Marketing?
“A long term Stagey to build relationship with individual customers. Relationship Marketing is a philosophy of doing business, a strategic orientation that focuses on keeping and improving current customers rather than on acquiring new customer.”(Relationship Marketing And The Ritz Carlton Hotel Company, 2018)
Work of Relationship Marketing
The reliable use of up to information learning of individual client to item and administrations configuration keeping in mind the end goal to build up a nonstop long haul connection. The concentration upgrading the association with existing clients that is to hold existing client.
Background to relationship marketing
Most organizations showcasing exertion is centered on getting client with little consideration paid to keeping them. The normal organization loses between 10% to 30% of its clients every year.
Green Marketing
• What is Green Marketing? It is the showcasing of items that are dared to be ecologically protected. Along these lines green promoting joins an expansive scope of exercises, including item adjustment, changes to the generation procedure, bundling changes, and additionally altering publicizing. Other comparable terms utilize set out Environmental Marketing and Ecological Marketing.
• How it is functioning Green” is maybe one of the greatest patterns to hit the cutting edge commercial center. Wal-Mart is making strides toward environmental friendliness. Hollywood famous people are eco-evangelists. The 2008 Olympics set the new highest quality level for economical occasions. Religious pioneers are making the condition an ethical issue.
• Green testament today, numerous associations’ ecological procedures rotate around showcasing efforts and repackaging contributions to tout Green cases. Purchasers are for the most part befuddled about what, as organizations hurl around “Green” with little understanding regarding what it truly implies. In spite of the fact that numerous confirmations exist today—numerous environmentalists grumble that they are not sufficiently hearty to make enduring change.
Personalized Everything
As we work to individualize everything from Coca-Cola jars to shoes, mass customization has progressed into personalization. For a few organizations, this will mean guaranteeing touch focuses are particular and person. For others, it’s essentially streamlining the acquiring procedure and making it more responsive.
Better Video Content
Content is as yet lord, however the sort of substance that standards the web is evolving. Social substance, surveys, web journals, papers, and eBooks are generally still vital parts of showcasing, yet video will be the anger advancing. Considering the accomplishment of games like Pokémon Go, expect virtual and expanded reality to bring us into what’s to come. Brands that neglect to join visuals and recordings will be left by the wayside.
Mobile Marketing
“Mobile marketing can use a wide range of other tools, such as advertising SMS/MMS, SMS Contests and voting, location-based marketing” (Prikrylová & Jahodová, 2010); “it can be used to collect CRM data and, once again, it is possible to make use of viral content especially thanks to the availability of mobile Internet” (Castronovo & Huang, 2012). “Mobile advertising offers the opportunity to make promotion effort with higher effectiveness and lower costs in respect of the target segment” (Selvi, 2014).
Conclusion
It gave us examination of the objective market. Through different illustrations we figured out how associations design about their item to be showcased, attempting to snatch an effect on clients is a testing and innovative assignment that includes broad research. Gigantic measure of cash is spent on promoting ever year and it appears to develop quickly with every year .Our general public is overflowed with notices each place we look, along these lines requiring organizations to discover new and one of a kind approaches to remain in front of the opposition.
