Skip to main content

Marketing 3.0 From Minds to Spirits via Hearts

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

Comments

Popular posts from this blog

From Gully to Indoor Cricket

     After the advent of T20 cricket,fans have switched their loyalty to shorter,action packed format of cricket and I believe that indoor cricket will also get popular with the passage of time. Indoor cricket is set to be introduced in Pakistan as "Gally Cricket" several tournament of this format has been be played in indoor cricket arena under lights. Google Images: Indoor Stadium Your rules, techniques and playing arena is what we expect from Gally Cricketbut for fairplay World Indoor Cricket Association has developed some rules. Google Images: Pitch of Indoor Cricket Indoor Cricket is played usually in a warehouse. The size of indoor cricket court is 30 meters x 10 meters with nets surrounding the court. The ground is concert with astro turf on top. The cricket pitch is the same length as normal cricket. We don't use a real cricket ball, we use a tennis ball with a cricket ball casing. Indoor cricket has the same basic rules as norma...

Wheel of Fragrance

Its Summer time, perfume is an essential EDC but don’t judge the book by its cover. You don’t wear the bottle of perfume or the fancy packaging. What you wear is, The Fragrance. In a brief survey, I found that while buying fragrances most consumers’ decision is based on very crude/basic rationale e.g. long-lasting, discount, affiliation with loved-ones, religious beliefs, word of mouth, ads etc. They are almost unaware of sense the Notes and Ingredients that form a fragrance. Michael Edwards, creator of The Fragrance Wheel, has made fragrance selection an exciting journey instead of difficult chore. It holds the key to your fragrance likes and dislikes. It have four clusters and every cluster has relationship between the 14 different families. Floral Notes: You smell like a bouquet of Rose, Jasmine and/or other flower/s you are wearing a scent from  Floral Family . Soft Floral Family’s  fragrances contains nostalgic scents that are soft, powdery, sweet, and creamy. Amber, Oran...

My Summer Reads

The current economic turmoil, political instability, judicial uncertainty, and military repositioning has influenced my bookshelf of the summer too much. My summer reading list compromises money management books.   1. The Psychology of Money: The Psychology of Money by Morgan Housel. It is one of the finest books on understanding money and its management or we can say the relationship between Money and Human Behavior. The premise of the book is that we think of earning money as rational and logical but we spend money based on emotions and psychology. It consists of independent chapters on money, saving, investment, and spending. It can be read interdependently if you need recommendations on some specific targets.   2. Intelligent Investor: Intelligent Investor is written by Benjamin Graham. First published in 1949 and revised in 1972. It is a comprehensive and classic guide to investing but if you are interested in understanding classic strategies on the share mark...