Contemporary Issues in Marketing

present-day(a) Issues in tradeIn an era of Super smart-phones, high-speed internet, and product of digital media in day to day sprightliness, it is serious that traditional trade techniques to evolve along with the digitisation of advertizement, sales promotion and brand management. merchandise has moved on from basic advertising and sales promotion, to a much(prenominal) soulfulnessal and customised climb towards guests, delivering a whole cutting level of pastime and experience to the consumers.Marketing is the The management process responsible for identifying, anticipating and satisfying customer requirements profitably.(The Chartered Institute of Marketing) Marketing requires unendingly adapting to the changing consumer needs, and satisfying them in a way that is better than the competitors, in a profitable manner. In todays exceedingly evolved and competitive business environment, it is indispensible to employ the aid of engineering science in trade, the feat ure that engine room has a transformational impact on the merchandise is through with(p) cornerstonenot be ignored. Technology is changing the way companies interact with their consumers foodstuff is meet more(prenominal) foc apply on engineering science to increase the sales and returns on investment (ROI). Stephen Diorio sh ares his views on technology and selling, Over the next ten social classs, quickly changing technology go forth impact more or less aspects of sales and merchandising strategy and management, (Diorio S.G, 2002)Google is one of the silk hat instances of companies that sport successfully employed technology in their marketing strategies. The firm started up as a abject expect engine in 1998 and today has an estimated worth of more than $35 billion, employing more than 20000 people. In the further sections, I will be discussing how google holds technology in its marketing operations, and the specific areas in which they are employed.Marketing air intoMarketing look intois the systematic gathering, recording, and analysis of information about issues relating tomarketingproducts and run. (McDonald. M, 2007) Marketing Re pursuit helps a keep company determine, whether its current portfolio of products is satisfying the consumer needs, and what improvements spate be do in revolutionary products, and whether consumers will accept a freshly product or not.Google is well known for its inquisition elegance and optimisation over the years, it has consistently been successful in understanding what consumer is meddle or so for, and contriveting up relevant advertisements on their search results. Let us discuss what technologies google uses for its marketing researchAnonymous Data statistics bundleionGoogle analyses entropy that it receives from its search engine like the search keywords, location of user, age group, and so on And uses the data to deliver more optimised and local search results to the user, providin g a more precise and effective way of advertising. The data that Google collects is anonymous and is use for demographic classification only. Also if there is a bug or break in Googles search, it sends an error report to the company, so they roll in the hay work on fixing it and improving its results in future. This is a very effective marketing research technique is it does not involve much cost, and is base on reliable data that is generated on the companys own servers.This market research method is an congresswoman of excellent consumer involvement the data collected is with express licence of the users solely for improvement purpose, and Googles privacy policies intelligibly states that it is collected anonymously with no storage of the users personal information. Also there is an option for opting out of the research for anyone who does not want their data to be analysed.(Source Google Privacy Policy)Google AnalyticsGoogle analytics is Googles web analytics resoluteness it generates sixth senses into its websites traffic, total pattern of visits, subject of interest, location of users, etc and other statistical data which in turn the increases the effectiveness of marketing by identifying and analysing the preferences of the consumer and the product that they are searching for. It helps Google create better targeted and strategi constitutey channelised ads. Google also offers the analytics solution to many large corporations and companies helping them place their ads at strategic locations and increase their return on investment or ROI.It delivers sophisticated data to Google regarding its website traffic, and its get/loss of market share against its competing companies. The technique is an entirely stark nakedly approach compared to traditional marketing research methods like surveys and seminars, as this is totally electronic com displaceer generated research based on raw data collected from real(a) life users, and also it is more mathe matically correct and precise. Analytics smoke collect data from tracking fluid devices, location based website tagging and comparing the relevance of search toll to actual results.A very recent example of this tools utilities is when it surfaced that Bing, Microsofts proprietary search engine was copying Googles search results and algorithms, and Google was able to recrudesce this scam with its analytics tool. Amit Singhal from Google stated in his press release, Some Bing results increasingly look like an incomplete, stale version of Google results a cheap imitation, (BBC News, 2 February 2011)http//blog.hubspot.com/Portals/249/images/search.referrals.png perceptivity SearchThis is an interactive tool that Google uses to compare various search terms that are confusable, and based on consumer interest, it suggests the best corteged keywords and terms that must(prenominal) be used to increase advertisement revenue, it is a highly adept tool primarily working on elaborate p rogramming algorithms, which is st trim to Google. An example of this is given below.If Google is to place an advertisement for an automobile manufacturer, with the help of taste search it will be able to predict the message that best resonates the ad. For marketing a new car model it shall know what boast must be highlighted like fuel might, safety, ripe(p) looks, etc. With perceptivity search as we can see the most apt search term will be car safety as consumers clearly show more interest in that criteria over the othersCUsersChiragDesktopinsights_96693_en-time.jpgSource (Google insight Website)Google Insight uses an advanced intelligence algorithm called MYSql that filters the search results and provides suggestions that are more feasible and more likely to capture consumer interest this reduces the amount of toss away advertising and also offers more refined search results. This is a good tool for marketing research as it decreases the chance of misplaced advertising, wh ich is Googles largest author of income.Marketing intercourseMarketing Communicationsaremessagesand related media used to communicate with a market. Marketing talks is the promotion part of the Marketing Mix or the four Ps price, place, promotion, and product. (Clow. K, Donald.B). It is essential for any company to reach out to its consumers effectively, thus marketing communication is very important for successful business.Google has a very technology oriented approach for its marketing communication it promotes its advertisements and promotions in entirely non-conventional ways, let us examine the methods Google uses for its marketing communication purposesAd-WordsGoogle Ad-Words is Googles main advertising program and the prime source of income for the company. Ad-Words triggers advertisements based on the words that a user is searching for, it delivers relevant ads on various websites where advertisers want to place their ads. Ad-Words operates on the Pay Per Click (PPC) mode l, where Google gets salaried for each Click that an ad generates, and advertisers pee-pee to pay Google for the number of clock their ad is clicked on.The main features of Ad-Words are that it provides a non-geographical mode of advertising, it can place an advertisement on any website and not nevertheless its search page, which style that consumers have a repair accessibility to a plethora of products and services from the comfort of their homes. And for the advertisers, this is new and highly technological approach compared to traditional advertising methods like Hoardings, TV advertising, Radio advertising, etc, also it is interactive in nature.The most differentiating feature of Ad-Words is that the advertisements are customised for each and every user, It does not bombard the consumer with contrary ads and distracting pop-ups, it delivers the exact results the person is searching for, in simple and convenient text-based banners. For example If a person is searching for Holiday trip to Bahamas, then Google brings up the advertisements of travel agencies that offer the cheapest and the best deals for holidays to the Bahamas, and also other holiday packages to similar locations.This is nothing short of a revolution in the advertising labor in 2010 Googles revenue from Ad-Words advertising was US $28 Billion.(Source Investor.google.com)Click To claimThe Click to Call service offered by Google is a marketing communication initiative that was started in 2007 by Google through Click to Call, advertisers are allowed to put up their phone numbers on Googles website, and users can click on their advertisement to call them, Google connects them to the advertiser and the calling expenses are paid by Google. This is similar to Pay per Click advertising, except offers a whole new level of interaction to the advertisement.Google has also integrated this system of Click to call function on their new Phone operating system Froyo, whereby consumers search a map f or a nearby outlet and by tapping on it can directly call the advertiser. This is a considerable innovation in marketing communications. (Source Google ClickToCall official webpage)Google check-out procedure (Online Payment Integration)Thinking one tint ahead of just searching for products and services online, Google integrated the Search and get process, with the help of Google Checkout, Consumers can save their bank account details on Googles secure web servers, and when they are searching for something on the web they can simply buy it and make the payment for the product with the click of a barelyton, and the product is delivered to their doorstep.A consumer simply has to sign up with Google Checkout and take their details once after that whenever they want to buy something with the help of Google Checkout they just have to click on it and verify their identity with guarantor options like passwords, etc to prevent fraud. Also Google checkout comes pre-installed on smart-ph ones with Google operating system humanoid making it even more accessible.For example If a person is searching for Dan Browns Book, The Da Vinci Code on Google, it will return the search results, and the person can simply click the Buy button on the website from their computer or phone, and the payment for the book will be made and it will be directly delivered to their specified address. This simplifies the process of online to a ample extent.At the moment the products that are supported with the online payment systems are Books, CDs, and Media files, Google mobile handsets, and software program. As more traders sign up for Google Checkout the product portfolio will expand and provide more options to Google usersNFC MarketingThis is one of the latest technologies in marketing, also known as NFC or Near Field Communication it uses special radio frequency waves to communicate with devices like smart-phones, pdas, etc. NFC can be used to tag places and objects with RFID tags that c an be read by other devices by simply tapping on them. NFC can also be used to make payments with a smart phone by just swiping the device over the RFID (Radio Frequency Identification Device) Reader, this renders the need to carry near cash and debit cards useless. Google is integrating the NFC chip into its smart phones, and is place setting up NFC Hotspots all over large cities, to implement the new technology. This can be considered a breakthrough technology for the coming years.According to Claire Swedberg of RFID Journal, Googlehas been interrogation anRFID-enabled service aiming to link local businesses with customers. The service, known asHotspotdebuted in November 2010. (Swedberg. C, 23 February 2011)New Product DevelopmentNew product increase(NPD) is the term used to describe the complete process of bringing a newproductor service to market. (Ulrich.K, Eppinger. S, 2004). NPD is the preliminary step in developing a product or service, it involves a series of travel in order to introduce a new product in the market. NPD is essential to keep up with the changing technology and market trends.http//t1.gstatic.com/images?q=tbnANd9GcTgI2lqnURK33cJWjLaFAQlzQaU0rxXHSClOyJk_LUQ6xL68R7EbgGoogle is a company with a large number of products under its portfolio, to name a few we have, Google Search, Google spot, Google Maps, Google Checkout, Google Ad-Words, Google Documents, YouTube, Books, Android operating system, etc. Google has developed a number of successful products over the years. This is because Google insists on releasing products that are more appealing consumers, and has been able to remain successful by launching the products in market before the competitors, mostly in the form of Beta interrogatory and fender projects. Let us take few examples of how Google integrates the latest technology into some steps of its New Product Development processIdea extensionFor most organisations the process of idea generation involves Brainstorming session s, and SWOT analysis, but Google takes a new technological approach for idea generation. Every year Google holds the CodeJam competition at its head-quarters in Mountain View, California. In this competition it invites new engineers and programmers, in order to identify top talent among them, the participants have to turn arithmetic and structural problems, and also they are asked to come up with new ideas for products and software. This is an innovative and technical way of generating ideas, and many of Googles services like the Android operating system are a result of this.(Source codejam.google.com)PrototypingPrototyping involves producing a tangible product icon. Google is running a pilot testing programming for its new Google chrome OS, to run the operating system Google has made the CR-48 laptop, to test its efficiency and compatibility with hardware. It is allowing application developers and daily users to use a prototype laptop given out for free, and provide usage infor mation to Google, so that it can complete(a) the product for a full featured launch in the market. (Source Chrome Os Pilot Programme Website)The advantage of prototyping products is that it provides a real life test result of what is expected from the product, and as a wide range of users test it, more information can be collected regarding the product. If the prototype receives good reviews, then the product can be considered feasible for a market launch.Beta TestingGoogles main competitive advantage comes from the fact that it always launches new products in the market before its competitors this is because it always releases its potentiality products in Beta stage. And if later on if any rectification is compulsory in them, it rectifies them and makes the final launch, this is advantageous as by the time the final product is launched it already will have a consumer base and will be accepted quickly by the market.Beta testing is the testing and improving of unfinished software , Beta testing is very useful when the programmers of the software want to receive a meaningful feedback. This is because when unfinished software is put to actual use, any bugs and errors that it may have can be identify and sorted.Google runs a project called Google Labs (www.google.com/labs). Under Labs Google runs unfinished products not yet ready for a launch. Some examples of such products are Google Transliteration, which allows users to type phonetically in any language using an English keyboard, And Google Wave(www.wave.google.com) which is Googles real-time social meshwork initiative, it allows consumers to update and connect with their in real time by share-out messages, pictures, videos, and file sharing, etc.Many of Googles most successful products like Google Mail (Gmail), Google Documents (Docs), Calendar, etc are products of Beta testing that got successful reviews and are widely used and accepted today.CommercialisationCommercialisation is the final launch of the p roduct in the market it involves the final production and promotion of its products. Proper use of technology is very important for the successful commercialisation of a product. Android is Googles highly successful and competitive smart-phone operating system, the commercialisation of the operating system was highly technological and advanced in nature, and compared to the other smart-phone platforms, like Windows and Apples IOS, it was well advanced.Google commercialise the operating system by venturing with Taiwanese phone company HTC to lift a Google branded phone, the first of its kind, which became highly successful. Also the handset was advertize and can be ordered from Googles search page. It was the first time a internet search based company entered the smart-phone industry. And the rest of the manufacturers like Samsung, Sony Ericsson, etc followed suite with their android handsets.The real technological breakthrough was when Google delivered OTA or Over the breeze Sof tware updates for smart-phones with their operating system. No other company has used OTA to update a phones software before, it was basically used to update subscriber settings, but Google made the use of that technology to deliver and optimise the smart-phone software, which was widely comprehended by customers worldwide. This is a good example of commercialising a product with the use of latest available technology.ConclusionBusiness Leaders today have realised that looking beyond the conventional ways of marketing and adopting the new technology is the mantra of successful business, in current business environment. Firms like Google that constantly aim for the refinement of technology are the new market leaders.Companies have become re-inventive in the way they manage their people, and in the use of technology. gum olibanum we can say that Technology has had an huge impact on the process organisations and the process of marketing.Bibliography