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Marketing means which strategy to sell a product this limited concept used previously.
But now days it has been changed. Now marketing means to create a relation with
customer and hold it with profitability. In the meantime, it is using to sale a product and
those strategies. Marketing is using to promote various social activities as like child
labor, women rights, women empowerment, No bribe, child marriage etc.
Now days we can produce a lot of product through advance technology. But we cannot
create customer through technology. Thats why we need marketing to reach out
customer and sale those products easily.
Over the past 15 years, marketing phenomena has been changed tremendous growth
and profound changes. Now-a-days customers are very much concern about their
rights, quality product and services, reasonable price and immediate better service.
Marketers also concern to reach their customer effectively and efficiently. They want to
identify new need, want and demand in better way.
Marketing is about identifying and meeting human and social needs. It is social and
managerial process by which individuals and groups obtain what they need and want
through creating and exchanging products and value with others.1
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1. Needs, wants and demands
The most basic concept underlying marketing is that of human needs. Human needs
are states of felt deprivation. They include basic physical needs for food, clothing,
warmth and safety; social needs for belonging and affection; and individual needs for
knowledge and self-expression.
Marketers did not invent these needs; they are a basic part of the human make-up.
When a need is not satisfied, a person will do one of two things:
People in industrial societies may try to find or develop objects that will satisfy their
desires. People in less developed societies may try to reduce their desires and satisfy
them with what is available.
Wants are the form human needs take as they are shaped by culture and individual
personality. A hungry person in Mauritius may want a mango, rice, lentils and beans. A
hungry person in Eindhoven may want a ham and cheese roll and a beer. Wants are
shaped by ones society and are described in terms of objects that will satisfy needs. As
a society evolves, the wants of its members expand. People have narrow, basic needs
(e.g. for food or shelter), but almost unlimited wants. However, they also have limited
resources. Thus, they want to choose products that provide the most satisfaction for
their money. When backed by an ability to pay that is, buying power wants become
demands. Consumers view products as bundles of benefits and choose products that
give them the best bundle for their money.
The beginning of the new century brought a series of new challenges: the steep decline
of the stock market, which affected savings, investment, and retirement funds;
increasing unemployment; corporate scandals and of course rise of terrorism. These
dramatic events were accompanied by the continuation of existing trends that have
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already profoundly influenced the global landscape. In 2005, more transistors were
produced (and at a lower cost) than grains of rice; the U.S. blog-reading audience is
already 20% of the size of the newspaper reading population; and insatiable world oil
consumption is expected to rise 50% by 2030.
1. Demographic Environment
2. Economic Environment
3. Natural Environment
4. Technological Environment
5. Political-Legal Environment
6. Social-Cultural Environment
Africas population will grow 116 percent, from 720 million in 1995 to 1.6 billion in 35
years.
Asias population will increase 47 percent, from 3.4 billion to 5.1 billion.
Central and South America will have a 51 percent population increase, from 475
million in 1995 to 715 million.
Oceania will increase its population by 36 percent, from 29 million to 39 million in the
same time span.
North America will have a 24 percent population increase, from 295 million in 1995
to 368 million in this period.
Europe will have the lowest population increase 1 percent over the next 35 years,
from 731 million to 742 million.
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Graph 1: Projected World Population of 2030
According to Bank estimates, the five fastest growing countries in the world over the
next 35 years will be Oman a 209 percent increase; Gaza Strip, already one of the
most densely populated regions on the Earth, will grow by 208 percent. Some countries
with declining population from 1995 to 2030 will be:
Countries with almost no population change in the same time span: Romania (22.8
million); Denmark (5.2 million; Slovenia (2 million) and Estonia (1.5 million).
China is the most populous country in the world now with 1.2 billion people and will
remain the population giant in 2030, with 1.5 billion people.
India is the second most populous country now 934 million people. It will grow to 1.4
billion by 2030.
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In 2030, the United States will remain the third most populous country with a population
of 328 million, up from 263 million next year.
In 36 years, Indonesia will be the fourth largest country with a population of 274.7
million, increasing from 192.5 million in 1995.
Brazil will grow to 231.5 million people in 2030, making it the worlds fifth most populous
country.
Bangladesh will grow to 20 million people in 2030, making it the worlds 28th populous
country.
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Graph 2: Projected Population of Bangladesh by 2030
Besides fertility rateshow many children women give birth to in their lifetime another
key factor affecting the world and national population estimates is the average length of
life. Worldwide, the average person can expect to live to 72 years by 2030. Now the
average is 66 years, but life expectancy at birth varies widely by continent:
Africa 54 63
North America 77 82
Asia 65 73
Europe 74 79
Oceania 73 77
In 2030, the countries with the longest life expectancy will be Japan (82.8 years);
Switzerland (82.6 years); Canada (82.2 years); Italy (82 years); Sweden and Iceland
(81.9 years) U.S and France (81.8 years); Norway and Greece (81.7 years). 4
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b) Economic Environment: On September 25th 2015, countries adopted a set of
goals to end poverty, protect the planet, and ensure prosperity for all as part of a
new sustainable development agenda. Those new sustainable development 2030
goals from the United Nations are:
These goals are interrelated with economic environment as like No poverty, Zero
hunger, Quality education, Decent work and economic growth, Industry innovation &
infrastructure etc.
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c) Natural Environment:
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d) Technological Environment
Artificial Super-Intelligence: An AI R&D arms race is underway among the worlds top
technology giants. Current interactions with Siri or Google Now on your phone, Jarvis
from Iron Man or IBMs Watson are frustrating and unfulfilling, but were at the tipping
point. Soon AI will become the most important human collaboration tool ever created,
amplifying our abilities and providing a simple user interface to all exponential
technologies.
Sensors & Networks: Today were used to being constantly connected via always-on
mobile phones, but by 2030 smartphones will have 30+ sensors embedded in them,
measuring everything about the user and their environment. Very soon every single
manufactured item will also be connected. All devices at home and work (screens,
thermostats, DVRs, appliances, computers, cars) will automatically connect seamlessly,
with the smartphone as the central hub.
Virtual and Augmented Reality: Well over $5 billion has been invested in AR and VR
by all of the major technology companies, from Google to Microsoft and Samsung to
HTC. These developments will allow marketers to shift from obsessing over what
advertising looks like, to what advertising feels like.
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4. Customer Relationship Management
Customer intimacy: is a marketing concept in which the customer accepts the service
provider as a partner, with a certain familiarity and knowledge of the customer's needs.
Amazon is a good example: the information from all previous purchases and searches
are saved and used to actively offer new products to the customer - automatically! This
means, the more you know about your customer as a person, including personality and
life style, the easier it will be to target the customer emotionally. Advertising messages
can be adapted according to personality types, for example making use of people's
curiosity or need for safety. In this field it is especially important to handle privacy issues
with great care.
CRM systems: like that of CAS Software are able to enhance company profiles by
collecting reference information from the internet. Phone calls can be identified from the
first incoming call. Social media monitoring is a one-click solution, providing a wealth of
information - be it a potential customer or job applicant. The CRM system is connected
to platforms like Twitter and Facebook and can forecast what might be important for a
customer. Even information about the potential customer's credit history may be
immediately available.
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xRM-cockpits: enable an overview and control of a situation at one glance. xRM
cockpits connect a lot of different information sources, giving a clear overview, and
provide information about live data. New types of questions can be answered, e.g. are
there customer we are a lot in contact with, but there is a low turnover?" but also even
more importantly: is communication slowing down with high-turnover customers?"
Answering such kind of questions allows companies to react much earlier to changes in
the customer relationship.
Apps: is just the beginning of a new era of software developed according to customer
needs. Lean and highly specific applications can be integrated easily in a user's working
environment, e.g. xRM connectors are integrated seamlessly with applications like
email, Facebook, XING or Word press.
IT-service from the cloud: enables processing power and cloud space via the Internet,
providing companies with a lot of advantages: employees are connected to customers
and partners with the option of file and data sharing, hybrid solutions make efficient use
of the IT infrastructure and administration and save a lot of costs and highly efficient
data processing centers ensure data safety.
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5. Marketing Channels
Multichannel marketing is the way of the future. With new channels emerging almost
weekly, marketers are coming under pressure to connect with their customers across
multiple channels and in meaningful ways.
Multichannel marketing is not about pushing the same message out across all
mediums. It requires thought and strategy to ensure that the right messages are
delivered to the right customers, at the right time, via the right medium.
Collect, measure and analysis data from all channels and interactions with customers. If
the resources are lacking in-house, then look to outsource this process to achieve
higher cut through with marketing campaigns.
Marketers need to know and understand the latest digital developments, and have the
ability to adopt new technologies quickly and effectively. To achieve this, marketing
needs to work closely with IT, whose skills and knowledge will prove invaluable in
building the long-term marketing strategy.
Marketers need to make better use of channels without increasing budgets which
means being smarter about using fewer, more targeted pieces of communications.
v. Start a dialogue
Move away from the practice of pushing marketing messages to the practice of starting
dialogue to pave the way for consumers to start exchanging views and opinions. This
will provide marketers with greater ROI in the longer term.6
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6. Supply Chain Management
It is clear that new outcomes cannot happen through a focus on traditional continuous
improvement programs. Advancements will not happen by doing more of the same with
greater efficiency. It requires rethinking business outcomes using advances in
technologies through a redesign of supply chain processes.
i. Outside-In Processes
One of the current issues for the supply chain leader is the unchecked rise in item
complexity. This coupled with the lack of customer-centric supply chain processes
makes it difficult to serve customer needs. While many companies have customer-
centric and demand-driven projects, they are not connected in a meaningful way. Most
companies are treading water because they are not rethinking the basics of demand. It
is time to get clear. The traditional focus on Enterprise Resource Planning (ERP) and
Advanced Planning Solutions (APS) does not bridge the gap. Independent demand, or
channel consumption, is the basis of demand-driven value networks, while MRP and
DRP translate orders and shipments. As a result, MRP and DRP are precise, but wrong.
The supporting data will be self-correcting. We believe that we will have no master data
managers in the age of Supply Chain 2030 and that the systems will be self-correcting
with continual learning. It will be easier. The supply chain planners role today is too
hard. The planning system will adapt and learn autonomously. Companies using
traditional technologies coupled with Excel spreadsheet ghettos will be at a
disadvantage.
When we ask companies to Imagine Supply Chain 2030, the first response is a focus on
analytics. We agree that analytics are important, but we also believe that source, make
and deliver will be redefined. It will be about the confluence of technologies. Digital
manufacturing3D printing, M2M interface through the Internet of Things, Robotics and
Bimolecular re-engineeringwill enable new capabilities in manufacturing. The factories
of the future will be more agile and autonomous. To help our team, do not think about
the digital pivot in hollow words and aimless, but well-intended strategies. Make it
concrete. Embrace the confluence. Imagine what the processes of manufacturing,
transportation and procurement can be in Supply Chain 2030. The options are endless.
While we talk of value networks, and connecting trading partners through business
networks, the reality of the world of supply chain is that 27% of orders and purchase
orders move hands-free and only 7% of flows are automated through business
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networks. The adoption of Supplier Relationship Management technologies increased
the time to onboard a supplier by 30-60 days, and most companies feel like they are
portaged to death. While 40% of companies have supplier development programs, only
24% believe they are effective.
Today, while we talk about social responsibility, the focus is on the four walls of the
corporation. Today companies have a risk that they have committed to be socially
responsible to the market and over 70% have made claims in marketing
communication. However, only 20% of companies are aggressively addressing the
issues of managing the extended network. The major opportunity to deliver a socially
responsible value network lies outside the four walls. Today 65% of nonrenewable
resources are in value networks. As water supplies tighten, and the consumer becomes
more aware, companies will be forced to actively manage value networks to ensure fair
labor, build the ethical supply chain, and manage nonrenewable resources. I think the
evolution of these strategies will lead to the building of the network of networks.
Today, the supply chain operates on a cost agenda. The focus is inside-out and
dependent on the current horizontal processes of revenue management, Sales and
Operations Planning, New Product Launch, Corporate Social Responsibility and
Supplier Development. In the future, we believe the supply chain will become the engine
of growth through active listening posts, market sensing, and management of the
network of networks. While the supply chains of the past were dependent on test
markets and limited tests, we believe the supply chains of the future will be actively
adapting based on markets.
Finally, I welcome the infusion of new business models. In my lifetime Ive witnessed the
birth of Airbnb, Amazon, Facebook, Lyft, and Uber. I also watched the decline of
packaged food and the obsolescence of many consumer technologies. I think that the
market is ripe for the creation of new business models. I want to fuel that Guiding
Coalition to think about new possibilities.7
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7. Branding
The marketing practice of creating a name, symbol or design that identifies and
differentiates a product from other products. An effective brand strategy gives you a
major edge in increasingly competitive markets.
Todays hard-and-fast rules of marketing are tomorrows broken ones. We have got to
be flexible to stay on the path toward relevancy. For example, where making your brand
design elements available for public use was seen as a quick way to dilute your brand's
impact and lose control of your message, today brands are using this to better integrate
within their audiences world.
Brands arent relegated to 50-page guidelines anymore because they are not static. And
like any other thing that is living, they have to grow and evolve in order to thrive in their
surroundings. So think of your brand like you would a person. If someone asked your
brand a question, how would it answer? Would it be funny? Creative? Stern? Is your
brand an early adopter or a bit more timid? Knowing these details about your brand can
help you to know what, where, and how to execute whenever a new experiential
opportunity presents itself.
Every month some new unicorn darling catches the attention of the press. Most recently
it was Peach, which popped up out of nowhere, was a darling for a couple months, then
was gone just as quickly. New experiences move so quickly, it can feel that youre
constantly being forced to make decisions between analysis paralysis and full steam
ahead. However, if you build a strategy around whats "in" today, by the time its ready
to go, youre already too late.
Brands that will thrive in 2030 will start to think about these things today. While
execution and marketing environments change, the key to future brand relevancy is the
same as today: Purpose-driven brands win.8
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8. Consumer Trend
Consumer taste and preference is changing day by day. There are some trends of
consumer. Five dominant forces-and an underlying set of trends-will drive change in the
consumer landscape over 2030.9
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9. Promotion
Advertising
An expert might be reasonably good at predicting the growth of any one of the
exponential technologies listed above. However, trying to predict the future of an
industry not directly linked to any of the technologies that are all doubling, morphing and
recombining is a significant challenge. Theres no question that we are in for a very
exciting (and unpredictable) future.
That said, here are 6 big picture predictions on how marketing and advertising will
change in response to the exponential and disruptive shifts were currently
experiencing.
You cant un-invent the camera. You cant un-invent the Internet. 200 years ago, when
photography was invented, people feared having their picture taken because they
believed a part of their soul would be stolen. Shortly thereafter, photography (and the
human desire to capture memories) created a multi-billion dollar industry. The camera
was the beginning of the end of privacy in the modern world and the Internet and social
platforms have exponentially obliterated any concept of privacy.
Technology users have willingly traded their personal data for the privilege of using free
services: Google, Twitter, Facebook, LinkedIn and others. In short, they have become
the product.
Lately, though, theres been a shift toward more considerate personal data collection
and selective sharing. More and more individuals are building personal data portfolios
containing biographical and biological information, skills, abilities and experience, job
history, remuneration, preferences, performance assessments, personality
assessments and other useful personal information. LinkedIn profiles are the simplest
example of these new types of portfolios.
In the near future consumers will have access to a Personal Data Exchange, where
their personal data can be traded for personal profit, rather than their data being owned,
controlled and sold by tech and advertising giants.
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Prediction 3: The End of Broadcast Advertising
Consumers are already aggressively filtering out largely irrelevant mass broadcast
advertising and advertisers will need to undergo a fundamental shift away from target
audiences to timely circumstances. One example could be highly specific mobile
notifications, triggered by complex combinations of personal data, location data and
environment data. Personal Data Exchanges combined with chatbots will be the
medium consumers use to filter or allow brand communication.
While voice-recognition-powered virtual assistants like Siri, Cortana, Google Now and
Amazons Echo continue to get more useful and reliable on the march to platform-dom,
there is a parallel wave of development underway that has captured the public eye,
where machine learning, artificial intelligence and natural language processing are
being corralled for more narrowly purposed meansby way of chatbots. X.ai is one
such example and they recently raised $23 million in Series B funding.
Twenty years from now, the most successful businesses will also be the greatest
servantsor evolved enterprises. That form of business is a radical departure from the
way goods and services are advertised and sold today, and indeed the way capitalism,
over-consumption and planned obsolescence works. Serving will precede selling and
the very act of making an offer will move the prospect closer to their desired outcome,
whether they buy from the advertiser or not.
The big craze right now is content marketing: creating compelling content that
supposedly informs, educates and inspires. The next big shift will be the mass
extraction and interpretation of personal information from Personal Data Exchanges to
determine patterns and predict future outcomes, needs, desires and trends and respond
to those in meaningful, relevant, helpful ways.
The extent to which advertising reaches and influences consumers will be largely
controlled by consumers themselves, enabled by personal data owned and managed by
individuals.10
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Digital Marketing is steadily revolutionizing every aspect of our lives. We all
sense it how we live, play, and work will never be the same again. In the past,
enterprise software used to be about making existing work more efficient. Now,
the opportunity for software is to transform and reimagine how we do everything.
The trends, opportunities, and predictions about the future of digital marketing.
Here is a small snapshot of their observations.
By 2030, 2 billion jobs will disappear roughly 50% of all the jobs on the planet as
a result of technology advances.
Private and commercial robot use will grow 2,000% from 2015 to 2030, creating a
$190 billion market.
78% of employees believe in the importance of working for a digitally enabled
company or a digital leader.
Purpose-driven & value-oriented organizations outperform their competition 15 to 1.
53% of millennials would work harder if their organizations were focused on
impacting the world positively.
2. Gen Z will further change the future of work by the end of this decade
3. The Internet of Things (IoT) is one of the most valuable and influential
advancements
By 2025, the total worth of IoT-enabled technology is expected to reach $6.2 trillion.
Within the next three years, the data created by IoT devices will reach 403 trillion
gigabytes annually.
The IoT will yield a potential economic impact between $4 trillion and $11 trillion a
year by 2025.
By 2030, sensor use will grow 700,000%, solving nearly every human need such as
cancer-killing chips.
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4. Businesses are no longer the sole creator of a brand it is co-created by
consumers
Consumers want businesses to enact social and environmental change (68%) and
greater accountability (81%).
People seek brands that are socially and environmentally responsible (84%) and
linked with a cause (90%).
More than half (57%) of all B2B purchase decisions are made before buyers talk to a
sales rep.
What convinces consumers to recommend brands? Simpler experiences (70%). And
38% will pay a premium for it.
72% of consumers trust friends and family, versus CEOs (46%), politicians (40%),
and celebrities (34%).
By 2027, there will be a 75% turnover rate of companies listed in the S&P 500.
96% of marketers cite data-informed decisions as high importance when responding
to disruption.
By 2030, 10% of the largest companies in the U.S. will consist of virtual
workforces.11
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10. Products and Offerings
As Brexit and Donald Trumps victory show, predicting even the immediate future is no
easy feat. When it comes to what our world will look like in the medium-term how we
will organize our cities, where we will get our power from, what we will eat, what it will
mean to be a refugee it gets even trickier. But imagining the societies of tomorrow can
give us a fresh perspective on the challenges and opportunities of today.
Global Future Councils experts predicted on the world in 2030, and these are the
results, from the death of shopping to the resurgence of the nation state.
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11. Changes Phenomena of Marketing by the year of 2030
Marketers are constantly looking into the future, trying to predict the next big trend, be it
for their brands or their clients. This subject is 80years older in worldwide and 30 years
older in Bangladesh.
Here are the 10 trends that I think are going to have the biggest impact on the future of
marketing.
3. The need for good content will not slow down. Ever. Content, particularly visual
content, will rule the roost in the online marketing world, evolving into various forms and
disrupting the conventional marketing models. Moreover, the speed at which a brand
can create amazing content will play a part in their success.
4. User-generated content will be the new hit. The power of user-generated content
will surpass branded content as brands begin to relinquish control of their own brands
marketing to their customers. From online reviews, to social media posts and blogs, this
means there will be a strong need for brands to create a positive impact in their
consumers minds. In response to this model of content production, content co-creation
between brands and consumers will become a popular trend.
5. Social will become the next Internet. Social will become an integral part of the
broader marketing discipline. As its impact grows stronger, most brands will fully
transition their marketing efforts to social channels. As such, social has the full potential
to become not just one of the channels but the channel.
6. Brands will own their audience. By cultivating brand community and entering into
direct conversations with their customers, brands will begin to own their audience in a
way that will create loyalists and brand advocates. In the future of marketing, branding
and marketing efforts will have their seeds rooted in what customers are talking about.
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The customers responses and feelings toward the brand will dictate future campaigns.
Essentially, if the customers are happy, theyll gladly wear the marketers hat and do
what is needed to bring their favorite brand in focus.
8. Good brands will behave like product companies and not like service
companies. While service companies aim to create a happy customer and look forward
to a contract renewal, product companies thrive on innovation. So, for brands of the
future, customer satisfaction and retention will not be enough. They will need to
innovate more efficiently to create more value for their customers. However, great
service will NEVER go out of style.
10. More accurate metrics will surface. What most brands do in the name of
measuring marketing success is look at hollow vanity metrics such as likes, shares, or
tweets. Even in terms of data mining, we are still developing more sophisticated means
to capture the right data. Many ideas are hypothesized, but few are practical. The future
will witness the rise of better analytical tools to help marketers gauge the success of
their campaigns.13
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Reference
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for the 21st Century, Page: 5
2. Principles of Marketing, Philip Kotler, Veronica Wong, John Saunders, Gary Armstrong, 14th Edition,
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Of Business. [ONLINE] Available at: https://www.forbes.com/sites/sap/2015/09/28/99-mind-blowing-ways-
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2017].
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marketing/#4a1ff3b5f97b. [Accessed 21 October 2017].
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