Future Trends in Marketing

The insights industry is continuing to evolve every day and salespeople encounter changing trends each day. Given the various changes in today’s marketing research, researchers have to brace and anticipate the influence of several competing interests and technological advancements in the various industries they serve. Moreover, researchers have to learn how to use recent technology trends to the advantage of their firms. Some of the emerging trends in marketing research include:

  1. Automation- recently, companies have been creating retail apps with in-store experiences which assist customers to conduct all the processes of identifying and purchasing products and even delivering (Line & Runyan, 2012).
  2. Marketing segmentation is also emerging in the international marketing strategies where a company focuses not only on the world market but also on the various customers with various needs. Companies tend to specialize in specific segments to improve their profitability. Other emerging issues in international strategies include brand policy and international marketing communication. 
  3. Mergers and acquisitions- Professional services firms are pursuing mergers and acquisitions as their growth strategy (Kotler, 2018) 
  4. Expansion in mobile research- research indicates a continued increase in global mobile data traffic from 15 exabytes in 2017 to 107 exabytes in 2023 (Schlegelmilch & Öberseder, 2010). This translates to a 39% annual growth rate. Many people, especially, youths use their mobiles to find out about products and even make online purchases 
  5. Inbound and Outbound marketing- Inbound marketing aims at attracting clients through relevant content and adding value strategically, in the client’s buying journey. In inbound marketing, potential customers connect to you through mediums such as blogs, social media, and search engines (Chabowski, 2011). Conversely, in outbound marketing companies advertise through televisions and other traditional channels of communication.  

References

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Chabowski, B. R., Mena, J. A., & Gonzalez-Padron, T. L. (2011). The structure of sustainability research in marketing, 1958–2008: a basis for future research opportunities. Journal of the Academy of Marketing Science, 39(1), 55-70.

Kotler, P., Keller, K. L., Ang, S. H., Tan, C. T., & Leong, S. M. (2018). Marketing management: an Asian perspective. Pearson.

Line, N. D., & Runyan, R. C. (2012). Hospitality marketing research: Recent trends and future directions. International Journal of Hospitality Management, 31(2), 477-488.Schlegelmilch, B. B., & Öberseder, M. (2010). Half a century of marketing ethics: Shifting perspectives and emerging trends. Journal of Business Ethics, 93(1), 1-19.

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