Consumers are no longer isolated individuals; rather they are connected with one another. In making decisions, they are no longer unaware but are informed. They are no longer passive but are active in giving useful feedback to companies.
Technological advances have brought about huge changes in consumers, markets, and marketing over the past century. Marketing 1.0 was initiated by production technology development during the Industrial Revolution. Marketing 2.0 came into being as a result of information technology and the Internet.
Now, new wave technology becomes the major driver for the birth of Marketing 3.0.
New wave technology is technology that enables connectivity and interactivity of individuals and groups. New wave technology consists of three major forces: cheap computers and mobile phones, low-cost
Internet, and open source. It enables people to turn from being consumers into prosumers.
Social Media is one of the enablers of new wave technology. It can be classified into two broad categories.
One is the expressive social media, which includes blogs, Twitter, YouTube, Facebook, Flickr and other social networking sites. The other category is the collaborative media, which includes sites such as Wikipedia, and Craigslist.
The popularity of blogging & twittering has reached the celebrity & corporate world. General Electrics, for example, has established a Tweet Squad group of young employees who train older employees to use social media. Celebrity like Salman Khan has crossed half a million followers on twitter & used it as a reliable tool for the promotion of his personal & professional happenings.
The growing trend towards collaborative consumers has affected business. Marketers. Marketers today no longer have full control over their brands because they are now competing with the collective power of consumers.
Therefore marketing evolved. In the first stage, marketing was transaction oriented, focused on how to make a sale. In the second stage, marketing became relationship oriented, how to keep a consumer coming back and buying more. In the third stage, marketing has shifted to inviting consumers to participate in the company’s development of products and communications. Companies practicing Marketing 3.0 aim to change the world. In this interlinked economy they know they can’t do it alone, they must collaborate with one another, with their shareholders, channel partners, employees & the prosumers- formerly consumers.
The rise Marketing 3.0 is suggesting marketers to approach consumer as whole human beings with minds, hearts & spirits.
FOR FEEDBACK: saddamonline@gmail.com, www.twitter.com/saddamonline
Technological advances have brought about huge changes in consumers, markets, and marketing over the past century. Marketing 1.0 was initiated by production technology development during the Industrial Revolution. Marketing 2.0 came into being as a result of information technology and the Internet.
Now, new wave technology becomes the major driver for the birth of Marketing 3.0.
New wave technology is technology that enables connectivity and interactivity of individuals and groups. New wave technology consists of three major forces: cheap computers and mobile phones, low-cost
Internet, and open source. It enables people to turn from being consumers into prosumers.
Social Media is one of the enablers of new wave technology. It can be classified into two broad categories.
One is the expressive social media, which includes blogs, Twitter, YouTube, Facebook, Flickr and other social networking sites. The other category is the collaborative media, which includes sites such as Wikipedia, and Craigslist.
The popularity of blogging & twittering has reached the celebrity & corporate world. General Electrics, for example, has established a Tweet Squad group of young employees who train older employees to use social media. Celebrity like Salman Khan has crossed half a million followers on twitter & used it as a reliable tool for the promotion of his personal & professional happenings.
The growing trend towards collaborative consumers has affected business. Marketers. Marketers today no longer have full control over their brands because they are now competing with the collective power of consumers.
Therefore marketing evolved. In the first stage, marketing was transaction oriented, focused on how to make a sale. In the second stage, marketing became relationship oriented, how to keep a consumer coming back and buying more. In the third stage, marketing has shifted to inviting consumers to participate in the company’s development of products and communications. Companies practicing Marketing 3.0 aim to change the world. In this interlinked economy they know they can’t do it alone, they must collaborate with one another, with their shareholders, channel partners, employees & the prosumers- formerly consumers.
The rise Marketing 3.0 is suggesting marketers to approach consumer as whole human beings with minds, hearts & spirits.
FOR FEEDBACK: saddamonline@gmail.com, www.twitter.com/saddamonline
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