The document discusses the changes in business and marketing in the 21st century due to major societal forces like technological advances, globalization, and deregulation. Customers now have more information from the internet and expect higher quality products with customization. Firms face intense competition from both domestic and foreign brands. Marketing strategies must change and adapt to factors like changing technology, customer empowerment, and industry convergence. Businesses now face major challenges and opportunities from globalization, technology, deregulation, and increased competition.

1. BY: SRIBATSA PATTANAYAK M.B.A , A.B.A, BALASORE

2. The current millenium has unfolded new business rules .The market place is not, what it used to be. It is changing radically as a result of major societal forces such as Technological Advances , Globalisation & Deregulations etc. These forces have created new behaviours & challenges. INTRODUCTION

3. NOW CUSTOMERS ARE OBTAINING EXTENSIVE PRODUCT INFORMATION FROM THE SATELITE TV & INTERNETS, WHICH PERMITS THEM TO SHOP MORE INTELIGENTLY. THEY ARE EXPECTING HIGHER QUALITY , SERVICE WITH SOME CUSTOMIZATION. THEY ARE BECOMIMG MORE PRICE SENSITIVE IN SEARCH OF VALUE. CUSTOMERS OF 21ST CENTURY

4. FIRMS OF 21 ST CENTURY THE BRAND MANUFACTURERS ARE ALSO FACING INTENSE COMPETITION FROM DOMESTIC AS WELL AS FOREIGN BRANDS. THE STORE-BASED RETAILERS ARE FACING PROBLEMS WITH NEWSPAPERS, MAGAZINES, TV ADS, DIRECT TO CUSTOMER ADS & INTERNETS. COMPANIES ARE CHANGING THEIR TRENDS IN THE FORM OF RE-ENGINEERING, OUTSOURCING, BENCHMARKING ETC. THE MARKETERS ALSO RETHINKING THEIR PHILOSOPIES, CONCEPTS & TOOLS.

5. FACTORS AFFECTING MARKETING IN 21 ST CENTURY CHANGING TECHNOLOGY GLOBALISATION DEREGULATION PRIVATIZATION CUSTOMER EMPOWERMENT CUSTOMIZATION INDUSTRY CONVERGENCE RETAIL-TRANSFORMATION DIS & RE-INTERMEDIATION

6. MAJOR MARKETING CHALLENGES OF 21 ST CENTURY BUSINESS TODAY FACE 4 MAJOR CHALLENGES & OPPERTUNITIES : GLOBALISATION TECHNOLOGICAL ADVANCES DEREGULATIONS COMPETITION

7. THE END