Marketing plays a major role in satisfying the needs and wants of customers. In addition, the prime objective of marketing strategies or techniques is to influence the purchasing behaviour of customers through the creation of favourable feelings and thoughts in regard to brands, services, and products.
This is aimed at ensuring repeat purchases. Organisations always endeavor to develop marketing technologies or strategies which command power in society and to consumers (Gupta & Syal 2012).
The availability of information has changed customers’ behaviour while consumers’ expectations have also increased the level of competition.
As such, in order to perform better and survive in a competitive marketing environment, marketers have come up with a variety of new modern marketing techniques such as guerrilla marketing, Bluetooth marketing, ambush marketing, viral marketing, social media marketing, and eco marketing, among others (Gupta & Syal 2012).
The choice of a modern marketing strategy depends on consumer behaviour. In this case, consumer behaviour has been used in the context of behaviour displayed by consumers in regard to the acquisition, utilization, and disposition of services or products.
In this paper, an attempt has been made to discuss the presupposition that “modern marketing techniques or strategies are responses to how consumers try to satisfy their needs and wants.”
Modern marketing has emerged as a marketing concept which according to Mihart (2012) “highlights the need for having detailed and founded information about the consumer needs, motivation, attitude and actions” (p.121). This means that modern marketing is based on customers’ needs and expectations (Mihart 2012).
Mihart (2012) has further observed that the essence of modern marketing is to go to the extent of responding to customers’ needs and expectations in a particular segment. In the current competitive economic markets, consumers have become more informed owing to increased availability of information (Clemons 2008).
As a result, consumers’ expectations and needs have increased competition as well as demand. This means that consumer behaviour has been altered and as a result, marketers have opted for modern marketing strategies or techniques.
This position has also been supported by Clemons (2008) who notes that consumer behaviour changes have compelled marketers and firms to revise their marketing strategies and the 4Ps so as to reach the target market.
Modern marketing strategies which present adequate information to consumers allow consumers to optimize on their choices. Subsequently, businesses respond to consumer behavior changes and be able to reach their target segment better (McDermott; 2013).
Michman, Mazze and Greco (2012) describe modern marketing strategy as the process that entails the segmentation, targeting, and positioning in a competitive market. Therefore, response to consumer behaviour is to ensure brand positioning and increase market share through segmentation and targeting.
As a result, it becomes possible to meet consumers’ needs and expectations (Michman et al. 2012).
In contemporary market setting, consumer behaviour entails the study of individual consumer or a group of consumers in regards to the selection, purchasing, and the usage of services, ideas, products, or experiences (Bray 2012).
In response to change in consumer behaviour, there have emerged modern marketing approaches categorized as technology-based, cause-based, and concept-based approaches.
Among these marketing approaches, the most common ones include social media marketing, guerilla marketing, internet marketing and viral marketing, among others (Gupta & Syal 2012). Through guerrilla marketing, firms create impulsive word of mouth or buzz.
This creates repetitive purchase and referral actions via word of mouth and personal canvassing, among others to gain and maintain market share. With respect to consumers’ behaviour, this form of modern marketing creates a buzz and referral actions if the needs and expectation of consumers in a certain segment are met.
According to modern marketing strategy “it is believed that consumers’ purchase decisions are influenced by effective advertising and are more likely to conform to reference groups’ influences” (Xihao & Yang 2012, p.1333).
What this means is that the reference groups determine the purchasing behaviours and decision of consumers. In their research in the telecommunication industry, Xihao and Yang (2012) found that reference groups have influence on the purchasing behaviours.
For example, using viral marketing to sell cell phones, reference groups are more likely to persuade consumer behaviour if they perceive that the products meet the demands of the consumers.
This presupposition has been validated in an interview with Frank Boulben conducted by McDermott (2013) on the perception towards Blackberry ownership. According to McDermott (2013), the perception that Blackberry Smartphone belongs to people in suits has changed.
Therefore, Blackberry has changed its development strategy to increase its market share in the Smartphone segment. As a result, real-time marketing techniques such as use of videos are being used to market Blackberry and its new features and qualities.
Blackberry has been undertaking hyper-differentiation in the mobile phone industry as a way of responding to consumer behaviour. Through differentiation, Blackberry is able to provide its customers with new phones with new features and capabilities thus fulfilling the needs of consumers. (Gupta & Syal 2012).
According to Rahnama and Beiki (2013), the choice of marketing strategies is based on marketing mix which entails promotion, place, place, and product.
Therefore, firms basically use marketing mix to advertise their products with the objective of connecting to the emotions of consumers and providing them with a reason to purchase.
For instance, through social media and viral campaigning, companies use more integrated strategies in response to consumers’ desires to have a bond with the company (Keller 2009). As a result, companies ensure that the 4ps are put into considerations (Clemons 2008).
Therefore, to ensure that the bond is created, marketers try to understand the demand side in terms of consumers’ choices, the amount to pay, and their demands (Sandhusen 2008).
Agile Corporation Pty Ltd and Ten Network Holdings Limited are two of Australian companies listed on the ASX 200. The two companies use modern marketing as a way of responding to the needs and the expectations of the customers.
For example, Agile Corporation Pty Ltd uses modern marketing strategies such as email marketing, and viral marketing provided by Webitecture to make the most of consumer behaviour. On the other hand, Ten Network Holdings Limited which has interests in the television segment focuses on a youthful audience.
Therefore, Ten Network Holdings Limited provides adequate information to its audience as part of convincing the targeted segment that the provided services or products are better compared to those of competitors.
According to Rahnama and Beiki (2013) the world is rapidly changing and as a result, new products such as new programs in TV are marketed through modern marketing strategies.
In other words, a company like Ten Network Holdings Limited is compelled to revise and review its marketing strategies. In addition, these companies are able to provide consumers with adequate information necessary for making optimal choices (Rahnama & Beiki 2013).
In conclusion, modern marketing is a new concept that entails the use of new strategies such as guerrilla marketing, viral marketing, social media marketing, and online video marketing, among many others.
Based on the discussion, modern marketing strategies are based on the ability to ensure that a company’s strategies meet consumer needs and expectations. This is because the needs of consumers have increased and changed customer demands.
Therefore, changes in consumer behaviour have forced marketers to revise their marketing strategies and the 4Ps so as to gain and maintain their market share. Marketing strategies provide consumers with reliable information necessary for consumers’ choice optimization.
One of the modern marketing strategies such as guerrilla marketing is used to create impulsive word of mouth or buzz which creates repetitive purchase and referral actions via word of mouth after the target market is reached.
The use of real-time marketing techniques such as use of videos meets the needs and expectations of consumers by providing them with a platform making choices.
Moreover, Agile Corporation Pty Ltd and Ten Network Holdings Limited use modern marketing techniques to satisfy the needs of consumers in their different competitive markets.
This writer is of the opinion that modern marketing techniques or strategies are responses on how consumers try to satisfy their needs and wants. Using modern marketing techniques, marketers are able to respond to consumers’ behaviour to reach the market target, gain and maintain market share, and utilize resources effectively.
Reference List
Bray, J 2012, Consumer Behaviour Theory: Approaches and Models. Web.
Clemons, E K 2008, ‘How information changes consumer behavior and how consumer behavior determines corporate strategy’, Journal of Management Information Systems , vol. 25, no. 2, pp. 13–40.
Gupta, S K & Syal, H 2012, ‘Emerging marketing approaches to influence customer buying behavior, International Journal of Research in IT & Management, vol.2, no.2, pp. 75-84.
Keller, K L 2009, ‘Building strong brands in a modern marketing communications environment’, Journal of Marketing Communications, vol.15, no. 2, pp. 139-155.
McDermott, J 2013, ‘Blackberry is no longer just for the suits’, Advertising Age, vol. 84 Issue 6, pp.20-20.
Michman, R D, Mazze, E M & Greco, A J 2012, Lifestyle marketing: reaching the new American consumer, Westport, Praege.
Mihart, C 2012, Impact of integrated marketing communication on consumer behaviour: Effects on consumer decision – making process, International Journal of Marketing Studies, vol. 4, no. 2, pp. 121-129.
Rahnama, R & Beiki, A H 2013, ‘Modern marketing, concepts and challenges’, Arabian Journal of Business and Management Review, vol. 2, no.6, pp. 143-155.
Sandhusen, R 2008, Marketing, Hauppauge, Barron’s Educational Series.
Xihao, H & Yang, J 2012, Social influence on consumers’ purchasing behavior and related marketing strategy — a cross – nation comparative study, Georgia College & State University.