Marketing is the process that satisfies human and social needs. It is nothing but a value-creation process. If we look into the marketing process, the job of most marketers is to design and develop the value in such a way that attracts customers and makes them happy buying. But this scenario is changing very rapidly due to the pandemic and the huge development of digital technology. Now market and marketing processes are more digitalized than the conventional marketing system. The job of a salesman is changing to the digital selling process. Marketers need not make a flow-up plan, it is automatically set up by the technology and responses are coming within a specific time. So, the process becomes more hybrid through embarked digitalization in the system. Therefore, it is imperative that using of digital technology in marketing and its associated function is a substitute for marketing success. Looking into this, concept marketers are focusing more on digital expert professionals than the salesman. Due to the huge demand for this, manpower is scarce. This is one part of the other way the process of marketing is also changing. Like the development of promotion strategy, communicate with the customers and find out the most effective methods for approaching customers. Though all these are experience stages, on the other side to get succeed in the fast-paced environment they always look into the audience’s requirements, it is difficult to stay ahead of the audience because market nature is monopolistic.
The recent trend in the Marketing Process:
Mass marketing converted into customized marketing and especially influencer marketing which is more common through digital technology like artificial intelligence, and machine learning, Marketers identify the preference of buying of customers and they try to influence them by offering more customized products. Therefore, targeting an individual is much easier than the conventional process. Development of user-generated content is another tool to identify prospects, it is a technique that allows the customer to design their product, and using digital space marketers publish those products on the web and counts the most effective design out of the available design and makes the product based on these design. Companies also do marketing through publicize the video content and using web analytics they publish it through various social media like various web pages, Facebook, Twitter, and LinkedIn, and personalizing the email. This video makes confidence the buyer about product information, brand, service, and other components associated with the product. It applies to business to business and business to consumer and both the process learn and evaluate the impact of promotion using video content in social media which makes their marketing promotion faster. The current market depends on millennials and Gen Z, they are more inclined toward digital process and most of them prefer digital buying process, not only digital buying but also other parts of marketing, they prefer digitalization. Therefore, to enhance their buying power, there is a need for mobile-optimized digital services which may be an important part for business owners and houses who are looking to attract fast-paced tech-savvy generations.
Ephemeral content is a new arena of digital marketing. Here company publishes its information through social media and they always stay on social media through standard posts, videos, and live events. Customer is not able to show the message if they do not save it or achieve it. Therefore, it makes curiosity customers give more concentration on the information. It is an effective platform for marketing campaigns.
Application of Digital Technology in Marketing
Artificial Intelligence in marketing is mainly developed with the help of three main marketing disciplines research, strategy, and action, and three levels of AI intelligence, that is, mechanical, thinking, and feeling AI. While mechanical AI entails automation of repetitive and routine tasks mainly covering market research, strategy, and standardization, thinking AI relates to processing data for new insights and decision-making, and feeling AI refers to interactions with humans or analyzing human feelings and emotions. Another, important techniques are big data analytics, using these techniques marketers predict the outcome of the customers and it also techniques which help marketers to identify the preference, maintain inventory management, and manage distribution and logistics system. Machine learning is another digitalized technique that helps marketers to do proper market segmentation, it processes customer data and analyzes it for discovering recurring patterns across various features. It helps to do proper clustering of different various demographic segments and helps to measure the preference difference between various demographic segments. Using blockchain analysis marketers maintain the logistics system of the firms and maintain a smooth and faster delivery system. One other important area used by blockchain technology like user verification, Blockchain can be employed through advertisement networks and reduce the interface of agents and middlemen and help those users who want the information by clicking through the ad system and combat fraud. It helps advertisers to identify the source of fraud and advertisers can make more user interface design.
Therefore, digital technology must be not only an effective tool for modern marketing but in the future, it should be the only way for business growth and survival. Most large-scale firms have started their marketing practices and maintain all the marketing processes from taking the order to supplying feedback through digital space. In India, most middle-order firms were trying to adopt the blended process, with a few parts of technology-based and another part traditional because of the nature of Indian consumers. It is a challenging task for a small firm because its market and investment level is low. Therefore, the marketing professionals need to develop some skills that small firms can be benefitted without much more investment. Last but not the list, it can be commented that the traditional skill of marketing will not work for long. Digitalized skills need to learn by the marketing professionals at the time of career selection. Few specialized skills need to be imparted to get a better market understanding.