Marketing's Paradigm Shift: Adapting to the Modern Consumer

Authored by Kimmy Babbar, Head, Corporate Communication, JCBL Group

The Changing Face of Marketing 

Marketing, which is predominately about promotion and selling products and services, has drastically evolved over the past few years, forcing brands to adapt their strategies to market requirements. The linear trajectory from barter to digital has been punctuated by seismic shifts in consumer behavior, technological advancements, and societal dynamics. As such, the marketing function has evolved from a passive conduit to an active architect of brand experience. Whether in B2b or B2C, the brands that failed to adapt to these changes often face obsolescence. The range of products offered has transitioned from physical goods to digital products and solutions, reflecting the dynamic market. 

The Early Era of Marketing

In the very early era, a few centuries ago, India’s marketers relied on print advertising. Beginning with black and white, it then evolved to bright brand colors, to associate the visual identity with the product. Traditionally in B2B business, connections were crucial; with a major emphasis on increasing brand awareness. The best way to achieve this was to create a unique brand identity to differentiate one’s brand from the competitors. Eventually, print media evolved from pamphlets to banners displayed on different modes of transport like buses, trucks, etc, often accompanied by an announcer or presenter who discussed the product.

The Era of Growth and Modernization

Exceptional economic growth increased consumer buying power. The advent of radio broadcasting in the twentieth century brought in the revolutionary medium of jingles and slogans. Radio provided a platform to reach a broader audience, thus increasing brand awareness.

The Akashvani era introduced television, offering brands a platform to shift from audio ads to video ads. This transition worked wonders for B2B products, humanizing them created awareness among all kinds of consumers, regardless of their association. Initially focused on product specifications, video ads soon evolved to include storytelling elements, often featuring well-known personalities. This era also saw improvements in distribution and transportation across regions.

The Globalization Boom

Globalization allowed foreign companies to enter local markets, leading to a broader range of product alternatives and shifting marketing strategies from product-centric to consumer-centric. The automobile industry saw various alternatives for everything, from sourcing spare parts to assembling them. This wave also spurred technological advancements in production.

The Rise of Branding and Corporate Identity

Branding involves distinguishing oneself from the competition. In the era of the barter system,  branding meant burnt marks customized for individuals. For B2B companies, this provided an opportunity to simplify complex products using media kits, logos, color schemes, and distinctive packaging.

The Era of the Internet

The internet revolutionized marketing, introducing additional channels like emails, websites, newsletters, and e-brochures to reach customers directly. For B2B companies, this provided an opportunity to simplify the complex product using detailed content, case studies, and technical specifications. The rise of e-markets facilitated direct sales from manufacturer to end-users, eliminating the traditional chain of distribution channels.

The Era of Social Media

The rise of social media has altered the entire marketing landscape. For B2B brands, social media has become a place to showcase thought leadership, networking, and lead generation. Companies can now directly engage with the decision-makers, eliminating the different channels of the traditional sales funnel and fostering stronger customer relationships. The growth of influencers and affiliates gave B2B companies a chance to showcase their product specification. It also became a platform for industry experts to address the audiences directly and endorse their products to niche audiences.

The Era of AI and VR

Technologies like AI and VR provided a new vision to B2B companies and transformed entire systems. Incorporating AI in the production process eliminates the scope of error and revolutionizes data analytics enabling companies to better understand customer needs and personalize communications. VR offers a different product experience, allowing potential clients to understand the product and alter it as per their specifications virtually before making the purchasing decisions. 

Conclusion

The evolution of marketing illustrates the significant impact of technological advancements on consumer behavior and business practices. Businesses that embraced these changes have flourished by leveraging new tools and strategies. As we look to the future, the continued integration of AI and VR promises to revolutionize production processes, creating more efficient, personalized, and engaging marketing experiences. The future is bright for companies ready to adapt and innovate, as they stand to benefit from the ever-evolving landscape of marketing technology.

DISCLAIMER: The views expressed are solely of the author and Adgully.com does not necessarily subscribe to it.