Emerging technologies

New and emerging technologies have the capacity to change our lives. If they are used correctly, they can improve the way we live, work, and do business. If misused, they can create problems ranging from a small disturbance caused by automated software to a large scale security breach.

Rapid developments and adoption of these technologies in the enterprise are contributing to the digital transformation that slowly started some years ago. And so, year after year industry analysts identify the technology trends that will shape and disrupt businesses in the next few years.

Remote work and automation will flourish in 2021, among other interesting trends.

New Technology Trends for 2021

  • Artificial Intelligence (AI) and Machine Learning.
  • Robotic Process Automation (RPA) 
  • Edge Computing. 
  • Quantum Computing.
  • Virtual Reality and Augmented Reality. 
  • Blockchain.
  • Internet of Things (IoT) 
  • 6G.
  • Nanotechnology
  • Omni-Chanel
  • Cybersecurity
  • Wearable Technology
  • Chatbox
  • Voice

 The top three technologies (AI, 5G, and IoT) stayed the same, just changed order. New to the list this year were NLP and quantum computing, replacing 3D printing and drones in the top 10 from last year. Artificial intelligence is certainly going to have an important impact on the near future. Grand View Research projects the AI market will reach almost $391 billion by 2025, while ResearchAndMarkets predicts the AI in IoT devices market will surpass $105 billion in North America alone. 

Emerging Technologies in Marketing: What You Must Consider

AR, VR, and chatbots are three of the hottest emerging technologies. Here’s what you must know when incorporating them into your marketing programs.

1. VR for Storytelling

VR is little more than window dressing if it can’t immerse customers in the storytelling experience. Immersive VR has the power to create memories for the viewer that is as real as an actual real-life experience. I’d argue that it has the potential to deliver significant value to customers and some brands are already figuring out exactly what that looks like.

2. Drive Memorable Experiences with AR

AR experiences can improve customer engagement and keep people coming back for fresh content.

Renowned beauty brand Estée Lauder knows this all too well. Leveraging AR, Estée Lauder gives customers the ability to experience a variety of virtual makeup products with no product sample required.

3. Take Engagement to the Next Level with Chatbots

While traditional chat interactions typically take place on brand sites to help facilitate customer service conversations, chatbots can fill needs far beyond customer service.

Chatbots are all about assisting the user – be it queries posed by voice, text or even images – to help them perform general tasks like ordering a pizza or shopping.

References:

https://www.simplilearn.com/top-technology-trends-and-jobs-article

https://www.searchenginejournal.com/emerging-technologies-marketing-what-to-consider/273103/#close

Marketing Management Concepts

Marketing management is the activity of managing processes, people and marketing strategies in order to generate value for the market and meet organisational goals and objectives.  Philip Kotler, in his book Marketing Management: The Millennium Edition says that marketing management is the art and science of choosing target markets, satisfying their needs and building a profitable relationship with them, through analysis, planning,  implementation and control. These processes are part of any type of management in the routine of a business, be it business, financial, people management, etc.  The difference is that here they are applied to marketing, which covers a multitude of activities aimed at the market.

 When we talk about marketing, we immediately think about advertising and product promotion, but the area covers much more than that.  Within marketing, there are also market research activities, pricing, product design, distribution strategies, press relations and many others. With so many activities in one area, how do you put all this in order?  The marketing manager usually leads marketing management – that organises and aligns all these activities, and the people involved so that they have the best performance in the market and help the company achieve its goals.

Marketing Concepts involves identifying consumer needs and wants, then producing products. There are five marketing concepts :

  1. Production concept  : Consumers will favor products that are cheap and available
  1. Product concept : Consumers will favor products that are cheap and available
  1. Selling concept :  Consumers will not buy enough of the firm’s unless it undertakes a large-scale selling and promotion effort
  1. Marketing Concepts : Understand consumer’s needs and deliver satisfaction better than competitors
  1. Societal Marketing concept  :  Deliver value to customers in a way that maintains or improves both the consumer’s and society’s well-being.

Benchmarking

The objective of benchmarking is to understand and evaluate the current position of a business or organisation concerning best practice and to identify areas and means of performance improvement. 

The Benchmarking Process

Benchmarking involves looking outward (outside a particular business, organisation, industry, region or country) to examine how others achieve their performance levels, and to understand the processes they use.

In this way, benchmarking helps explain the processes behind the excellent performance. When lessons learned from a benchmarking exercise are applied appropriately, they facilitate improved performance in critical functions within an organisation or in areas of the business.

The application of benchmarking involves four steps:

  1. Understand in detail existing business processes
  2. Analyse the business processes of others
  3. Compare own business performance with that of others analysed.
  4. Implement the steps necessary to close the performance gap

Benchmarking should not be considered a one-off exercise. To be effective, it must become an integral part of an ongoing improvement process, the goal being to abreast of ever-improving best practice.

Types of Benchmarking:

  • Strategic Benchmarking
  • The performance or Competitive Benchmarking
  • Process Benchmarking
  • Functional Benchmarking
  • Internal Benchmarking
  • External Benchmarking
  • International Benchmarking

Case study for my college

The case study of Procter & Gamble illustrates well how the brand, always attentive to competition, outlined its marketing, communication and quality management strategies – becoming a reference in the sector of personal hygiene, cleaning products and baby care.

One of the most revolutionary products that appeared on the market was the company’s disposable Pampers diaper, the first to be marketed in 1961 before that, disposable diapers weren’t popular. Babies always wore cloth diapers, which leaked and required much work to wash. Pampers provided a convenient alternative, albeit at the environmental cost of more waste requiring landfill. Amid recent parents’ concerns about diaper ingredients, Pampers launches the Pampers Pure collection in 2018, which is a “natural” alternative to diapers. The company operating in more than 70 countries, “reported a profit attributable to the controllers of $ 3.2 billion in the second fiscal quarter of 2019 and is used by approximately 5 billion people worldwide”.

According to the company’s file, in the section “Doing what is right”, the company’s principles and values ​​encompass aspects such as:

  • Sustainability
  • Impact on the community
  • Gender equality
  • Diversity and inclusion
  • Alternative to animal testing (with animal welfare policy)

Advertising Action

 The brand worked, above all, with TV in a campaign in Brazil, the company raffles R$ 200 thousand in prizes for consumers who bought their products and registered on a promotional website. Detail: the prizes were placed in the airplane, nominate “Avião do Faustão” – after all, had to surpass a competitor who, previously, had a track called “Caminhão do Faustão”. According to P&G, more than 140 million Brazilians were impacted in the first and second edition of the campaign.

The campaign with Faustão was Procter & Gamble’s first significant move to take on the maternity of its products. Founded 173 years ago, the owner of market leaders such as Pampers, Gillette, Pantene and Eukanuba had never insisted on giving visibility to the corporate name. The global marketing guideline determined promotion of products and not of the company – exception made to the operations of Japan and the Philippines, which had already prioritised the communication of the corporate brand for some time. If it was possible to do it there, why wouldn’t it work in Brazil? Procter & Gamble products had great potential in the Brazilian market but weren’t well known. Showing that they are all from the same family was a way to make people aware, try and buy again”, says Nizan Guanaes, from Africa, the advertising agency of Procter & Gamble.

Sponsorship Action

In the second half of 2011, the company closed a millionaire contract with Flamengo, to be the master sponsor of its football team. The value of the deal was 5.6 million for a 4-month contract.

Procter & Gamble was one of the main sponsors of the London 2012 Olympic Games sponsoring 150 athletes, as well as one of the main sponsors of the 2014 Winter Olympics in Sochi. He also sponsors the 2016 Olympic Games in Rio de Janeiro and the 2018 Winter Olympics in Pyeongchang, South Korea.

Quality management

P&G believes that the safety of its products is a prerequisite for responsible business and this philosophy is reflected in the company’s Statement of Purpose “We provide branded products and services of superior quality and value that improve the lives of consumers worldwide, now and for generations to come. Safety is an intrinsic part of the quality and value of our products. “

Procter & Gamble invests massively in customer relations – it’s most significant differential – in brand management, product innovation, in addition to creating long-term strategies and perspectives, quality strategies, brand extension and seeking aggressive sales force.

It is the main objective to gain strength to subsidise the coming of global brands that are not yet in the Brazilian market and uses mapping strategies and study of the organisational environment to serve different social classes in Brazil.

What comes next.

Here in Ireland, we are in the sixth week of quarantine. I have lost count of how many days are full lockdown; anyway, I took this time to improve myself, study and do market research.

I try to imagine what will happen after COVID-19. I believe that after the pandemic, the world will not be the same, and the way of consuming products and services will change dramatically.
Essential services like groceries, pharmacy, will continue to be crucial indeed. Those that are not essential will end up migrating to eCommerce and reinvent themselves. Habits start to move forward; we will see online shopping grow unimaginably.

Also, cinema, pubs, concerts, restaurants, sports in general, will be jeopardized until they find a vaccine, unfortunately, will it be the same for the tourism sector, which will take time to rebuild.

I try to learn from the past to find answers for this moment. I don’t know what will happen.
How will the companies set up and grow?
How will people be confident enough to consume after everything?

If you have some ideas on how things will go, please share them with me.

Content Marketing

Content marketing is a digital marketing strategy in which companies create relevant and valuable content attracting, involving and generating value for people in order to create a positive perception of your brand and thus generate more business. Normally it is to use the publication and promotion of content to drive organic website traffic, increase qualified lead generation, motivate the sales team to quickly close deals.

 

Image by Diggity Marketing from Pixabay

It is part of a marketing strategy focused on creating and distributing relevant content (such as articles, ebooks, webinars and posts on social networks), without explicitly promoting the brand. Thus, the company helps its target audience to solve their problems and become an authority on the subject.

Also used as a way of engaging with your target audience and growth in your network of customers and potential customers through the creation of valuable content for people to create a positive perception of your brand and thus making more sales.

Content Marketing is one of the most powerful weapons that a company, of any size, can have at its disposal to attract and retain customers.

Hubspot is a great example of excellent Content Marketing.

Hubspot is one of the largest digital marketing companies in the world, with marketing, sales and CRM solutions to integrate all of this. Much of Hubspot’s success is due to the Inbound Marketing techniques that the company both uses and teaches others. Blogs, which are a reference in the market, are far from being the company’s only content channels: tools, templates, surveys and online courses are also included.  

Inbound Marketing

Inbound marketing is about delivering the right solutions and opportunities that have a positive impact on business and or people.

It is a strategy based on a series of online actions that aim to attract traffic to a website and work this traffic in order to become leads or active consumers of your products or services.

Why Inbound Marketing?

Conventional direct marketing is giving way to relationship marketing, where instead of directly offering products and services, the goal is to create relationship points and then disseminate a value proposition.

It is what is being known as New Marketing, a way to attract the attention of potential customers, presenting content that adds value to people’s daily lives, in a technique that is much less invasive than others used in traditional Internet marketing.


One of the advantages of Inbound Marketing is its segmentation. As it comprises a series of actions that seek to arouse public interest in the brand, its products or services, the public resulting from these actions is extremely segmented.

This greatly facilitates the work of inserting this audience into a sales funnel that allows brands to achieve a drastic reduction in the cost of acquiring customers while also positioning them as a reference in their market.

Plus, around 85% of consumers conduct online research before deciding to buy.