Abstract
The paper explores the way change affected the sphere of marketing and what field leaders can do about the occurring changes. The main aspect that caused several changes in the sphere of marketing is the rapid growth of technologies. Through the use of social media, market leaders can redefine their strategy and offer better value to customers. Furthermore, it is expected that the company will base its decisions on the demands of customers rather than precise calculations. Lastly, an important change that the marketing sphere should go through is the change from a brand to a platform that will be openly available to everyone.
Introduction
It is often stated that the field of marketing has not changed, what has changed is the use of new tools. In 2011, Arthur Kurzweil, an author, educator, and publisher talked in his Shop.org presentation about the ways the changes in technological pace had occurred and how this pace would continue to double in size. He also outlined the main aspects of the increase in computer storage capacity as well as how it could affect the notion of artificial intelligence.
However, the audience did not get why Kurzweil attended the summit on e-commerce. That moment had been an ironic situation when people did not understand the exponential change. Furthermore, they could not even imagine that in a few years they would ask their phone where the nearest McDonald’s was and get an answer within three seconds (Rabinowitz, 2011, para. 4). This is an example of how changes in technology affect the field of marketing.
Leadership in the Field of Marketing
Various definitions of leadership go around the field of marketing. A person may give a speech on the relevant subject or write a book and already call himself or herself a leader. In reality, a leader is the one who leads others using new ideas and thoughts as well as the one who plays a role of a valuable resource of knowledge within a particular area, especially marketing (Hall, 2013, para. 2).
There are many aspects of the marketing sphere in which the field leader can apply the concepts of change management. For instance, social media is the primary component of the marketing sphere that requires a strictly planned and successful strategy. Reengagement is something companies often implement on social media; however, when done too often, there is no value offered to the clients. In this case, a true leader is the one who uses new outlets to bring value rather than constantly re-engaging customers using already existing outlets (Hall, 2013, para. 13).
Program management is another component of effective change management. It is a precise link between a business strategy company implements and the value that appears after its implementation (Thiry, 2010, p. 181).
Technology as the Primary Change Driver
The marketing sphere is a technology-intensive field that constantly faces a quick and never-ending process of change. Some changes that happen in the rapidly changing market are linked to discontinuities that offer new opportunities for companies to overturn present leaders from their positions (Ryans, More, Barclay & Deutscher, 2000, p. 6).
Three marketing spheres that have greatly influenced the field of marketing are the reach, speed, and the relevancy of the marketing campaigns. The reach of campaigns has changed exponentially with the emergence of Facebook, Twitter, YouTube, and applications that are available on a large scale and can reach the target audience. The speed at which information is being transferred is one of the main benefits of the marketing sphere. For instance, once a new product hits the store’s shelves, customers can leave feedback on it on social media and share it with others within minutes. Furthermore, technological advances have also significantly affected the increase in relevancy. A marketing message can be aimed at a precise focus to a particular group of customers thus providing them with value (Benady, 2014, para. 10).
What to Expect
Through the use of proper change management, the sphere of marketing will be able to achieve the strategic goals and benefits set by the companies that operate in the field (Project Management Institute, 2013). In the past decades, the sphere of marketing was targeted at achieving rational benefits for engaging new customers to sustain and support companies. It was a rule that when a company acts and thinks rationally it can create a devoted customer base. Nowadays, on the other hand, it is believed that a company is not a rational entity that can calculate every step. For instance, it has been demonstrated that although a decline in prices can induce massive sales, it can lessen the customer enjoyment and negatively affect the company in the long-run (Satell, 2013, para. 8).
The second change in management style to be expected in the field of management is the shift from a brand to a platform linked to the changes in technology. This shift is connected to the fact that companies are now working in a semantic economy rather than the scale economy. In the new type of the economy, companies are driven to become open platforms accessed by everyone rather than being protected from a general view (Satell, 2013, para. 16).
References
Benady, D. (2014). How Technology Is Changing Marketing. Web.
Hall, J. (2013). 6 Ways Thought Leadership Will Take Your Marketing to New Levels. Web.
Project Management Institute. (2013). The Standard for Program Management (3rd ed.). Newtown Square, PA: The Project Management Institute. Web.
Rabinowitz, I. (2011). 7 Ways Marketing Has Changed (and It’s Not Just the Tools). Web.
Ryans, A., More, R., Barclay, D., & Deutscher, T. (2000). Winning Market Leadership. Etobicoke, Ontario: John Wiley & Sons. Web.
Satell, G. (2013). What Can We Expect from the Next Decade of Marketing? Web.
Thiry, M. (2010). Program Management (Fundamentals of Project Management). Surrey, England: Gower Publishing, Limited. Web.