The Next Ten Years: How Will Marketing Change?

marketing strategyWe spend so much time talking about marketing that many of us forget that “marketing,” as a concept, is less than 50 years old. In fact, prior to the release of Philip Kotler’s Principles of Marketing, “marketing” – at least as far as we know it – did not exist.

The Impact

Many of Kotler’s concepts have become so ingrained in modern marketing that we have forgotten that they were ever revolutionary. Here are a few of the marketing concepts for which we can thank Philip Kotler.

  • The idea that you need to attract customers with powerful promotional messages;

  • The idea that you ought to show your customers that the use of your product is a rational choice for them;

  • The idea that marketing research and statistics should drive all business decisions;

  • The idea that marketing is all about “the big idea;”

  • The idea that brands are king.

Changes Are Coming

Of course, the world has changed quite a bit since Principles of Marketing was published. As a result, the field of marketing can be expected to change as well. Forbes recently ran a story about the changes that marketers can expect to see over the course of the next decade. Here are a few of the highlights:

  • Customers will be more interested in the experiences that brands can provide them than they are in the promotional messages companies send;

  • Customers will be driven more by passionate engagement than by rational calculation;

  • Traditional marketing research will be less impactful than newer research methods that incorporate social media and other newer technologies;

  • Brands are less important than the platforms the brands market themselves on.

Of course, these changes are mere projections at this point. Still, it is clear that the faster technology changes, the more the ways we market our brands and businesses will change. Furthermore, if technology continues to change as quickly as it has in the past decade, the field of marketing will look very different a decade from now.

How have you changed your marketing strategies in the past several years? How do you anticipate adapting your marketing strategies over the course of the next several years?

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Elizabeth

A teacher by trade, Elizabeth LaBelle graduated with honors from the University of Michigan in 2011. After specializing in Political Science and Francophone Studies with a minor in Korean, the only tangible skill she can show for it is the ability to write in all three languages. Elizabeth never thought she would get paid to write in any language – but after four years washing dishes in an industrial kitchen and a year selling office supplies door-to-door, nothing surprises her. When she’s not writing or teaching, Elizabeth coaches high school debate and forensics. Her hobbies include thoroughbred racing, competitive pool playing and hunting for the perfect Chicago apartment.

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