Marketing Major Trends or Forces Might Affect Marketing Paper

Select a company mentioned in our chapter 1 reading (Padgett & Loos). Considering the three key forces driving the new marketing realities, design a two-paragraph plan of how your chosen company is likely to change in the future. What other major trends or forces might affect marketing for this company?

Two citations/references (in addition to the text) are required for this engagement.

Finding new customers is important for any business but does exempt a business from taking care of their current customers. Current customers are more open to make additional purchases Immediately after a previous pleasant sales experience.  Research has suggested that it is 7 times more expensive to sell to a new customer as compared to a returning customer (Ahmad & Mohsin, 2012).  The relationship you establish with your customers is instrumental in ensuring a favorable after-sales service for your company. There are a number of different approaches to building customer relationships. Marketing to those your pre-existing customer base is just as important as the strategy utilized to attain new customers. 

Ahmad, S., & Mohsin Butt, M. (2012). Can after sale service generate brand equity? Marketing Intelligence & Planning, 30(3), 307-323.

Peer 1:

the first one clasmetThe global market is a dynamic environment. The implementation of transformative change can result in new challenges and possibilities, in addition to the development of new business models. The realities of modern marketing are shaped in large part by three important factors: technological advancement, globalization, and corporate social responsibility.The selected firm is Procter & Gamble, a publicly listed global conglomerate specializing in the production of household and personal care products. David S. Taylor serves as the Chairman and CEO of the firm, while John R. Moeller serves as both the Chief Financial Officer and Vice Chairman (“The Procter & Gamble Corporation (PG)”). The company’s administrative offices are located in the United States. The consistency of Procter & Gamble’s financial performance over the years is one of the company’s defining characteristics. “The Procter & Gamble Firm (PG)” describes the company as having several well-known brands under its umbrella, including Gillette, Tide, Olay, Oral-B, and Pampers, amongst others. Despite declining revenues over the past few years, the firm has increased its dividend payout and extended its market share, maintaining its position as a market leader.As a result of globalization, the relationship between businesses and customers is closer than it has ever been. Products created in one region are easily accessible in other regions of the world, and customers may promptly offer feedback on their purchases. Procter & Gamble produces a diverse range of goods, all of which are aimed specifically at satisfying the requirements of its customers, which has proven to be an extremely beneficial aspect of globalization for the company. In addition, corporate social responsibility (also known as CSR) is extremely important to the public image. Customers are becoming more conscious of their favorite companies’ impact on the local environment and the communities in which they make their homes (Chahal & Sharma, 2006).These three aspects are intricately linked to one another. Technology will make globalization easier by simplifying the process of disseminating information, while social responsibility guarantees a company’s survival in the long run.In the future, in order to entice investors, Procter & Gamble will place a significant amount of emphasis on the three characteristics outlined above. Investors are essential to any company’s growth since the cash they supply is used to improve the company. However, given that investors are profit-driven, they must guarantee that the money is spent in the appropriate areas (Chen,2021).Second, Procter & Gamble can raise its technology budget and invest in research and development. The utilization of current marketing trends will be utilized to achieve the goal of organizational sustainability. Social media is a modern marketing tool available today. For the Procter & Gamble corporation to increase the number of customers it reaches, the company needs to implement social media marketing. More customers interested in trying out new goods can be attracted to Procter & Gamble by the company’s use of Internet marketing. Analyzing raw data is essential in order to have a proper understanding of who their clients are. Once the Target Age and demographics of the consumers have been determined, an advertising campaign can be launched on various social media platforms to communicate with all the customers who have been specifically targeted.Environmental and global factors can also affect how an organization markets itself. The Procter & Gamble Company may be affected by several key forces, two of the most important of which are knowledge and involvement on the part of consumers. Consumers can obtain information on all items that are offered. They may use the internet to access information in many other languages, such as online encyclopedias and dictionaries, medical information, newspapers, and other information sources.The success of social networking platforms such as Facebook, Flickr (images), Twitter, Instagram, Wikipedia (encyclopedia articles), and YouTube is driven by personal relationships and user-generated content (video) (Kotler & Keller, 2000).On the other hand, consumer engagement provides customers a voice to influence their colleagues and the general public. Because of this acknowledgment, businesses are increasingly inviting consumers to engage in creating and marketing products and services, strengthening the sense of connection and ownership that individuals have with the products and services. Many customers view their preferred companies as “workshops,” where they may pick the goods and services that best meet their needs (Kotler & Keller, 2000).

Peer 2:

the second oneApple Inc. is a leading smartphone company because of creative products and revolutionary marketing strategies. The company is utilizing all the three key forces that drive marketing realities such as globalization, technology, and corporate social responsibility. iPhone users worldwide are increasing because it serves customers with unique experiences. Every year, when introducing a new model Apple comes up in fresh and unexpected ways, which is what customers like about the brand. The company is making enormous success in different countries because while designing, it focuses on need, demand, and want, which helps them drive significant customer lead (Bradley, 2022). The company organizes its marketing and advertising efforts according to customers, which helps the company to make customers loyal and return. In the future, the company’s marketing and advertising will be automatic as the company is putting huge focus and investments in technology like the internet of things and artificial intelligence. Apart from this, the company is investing in society and the betterment of the community as a whole. The company focuses on sustainable innovation and advancement to keep its market position. By 2030, the company will not change its different styles and creative process of creating products. Still, the company will change its marketing strategy and communication strategy to target customers accordingly in the future. The company goes with the flow; thus, it is pre planned that, over time, consumers’ choices will also change; thus, the goal is to keep need, want, and demand in mind to achieve expected outcomes (Gabriele, 2022). The company is moving worldwide after globalization; thus, the goal is to adjust every consumer’s mind to increase sales and profits. The company is making awareness of its products by differentiating it from the rest of its competitors in the marketing. In the future, the company will modify its products to differentiate it from the rest of its competitors. Over time substitute products are increasing in the market, which might impact the demand for Apple’s products; thus, the company will keep working on differentiation, technology evolvement, and more corporate social responsibility to keep itself iconic (Gabriele, 2022).Competitive and economic forces are two significant factors that could affect marketing for Apple Inc. Every smartphone company worldwide is evolving due to technological advancement and automation. Smartphone brands are introducing innovative products for consumers of every class that affects consumer preferences over time. Competition in the market involves the marketing strategies of the company. For example, when consumers have substitute products available at an affordable price, the demand for the company’s products will decline. To deal with competitiveness, the company would have to make its visiting customers return and serve them with their desired products. Economic forces also play a stronger role in affecting marketing strategies. In countries with a low economy, people will not purchase an iPhone that costs more than a hundred thousand. Regardless of the effectiveness of the company’s marketing strategy and the fact that the company is utilizing the best marketing strategy, consumers will not purchase the product. For example, suppose an individual’s monthly salary is fifty thousand, and the new model of the iPhone costs four hundred thousand. In that case, the individual couldn’t purchase the products because he could not afford them (Turpin, 2021). Thus, it is evident that the market where the product is placed matters more than marketing and advertising. Economic forces impact customers’ choices and decisions; this is why different marketing strategies bring different results in various consumer markets. In some places, prices don’t matter over quality, and consumers pay higher costs in return for high quality. For example, Apple products in the United States are highly preferred by customers regardless of higher costs. While in low-income countries, people go for cheap android smartphones because, for them, price matters more than quality.