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Role of marketing in a rapidly changing world


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Role of Marketing

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Role of marketing in a rapidly changing world

  1. 1. Role of Marketing (Simon Corah – NOT SYLLABUS) 1. Watch, Interpret, Predict (Trendspotting, market research, data mining) 2. Develop Strategy (Focus, clarity, consistency) 3. Execute Strategy (Who, what, when, where, how?) 4. Measure and Refine
  2. 2. The dawn of a new era: The Share Economy
  3. 3. • In the Share Economy individuals and the Community fill the gap between demand and supply • We are moving from a world organised around ownership, to one organised around access to assets. • From conspicuous consumption to collaborative consumption • It’s everywhere!
  4. 4. In any revolution there are laggards (those who fall behind) 1000’s of famous brands have failed over the past few years • Borders • Kodak • HMV Group • Saab • Atari • 350 US Banks • Most US airlines
  5. 5. Tasks: In relation to the role and importance of marketing, explain why Borders and Kodak failed. (6)
  6. 6. Task: Determine how a business can remain successful in a rapidly changing world. (5)