The multidimensional characteristics of modern marketing

The emergence of digital technologies and communication channels is pushing ahead a change in paradigm within the fundamental concept of marketing.

Marketing consists in creating value to customers in a way that it benefits organization and shareholders. Based on this fundamental understanding, marketing leaders try a vаriеtу оf diffеrеnt mаrkеting strategies in the quest for the all-important recipe that takes a company to the next level. Marketing itself plays an intermediate role between the target customers’ requirements and their economic patterns. It is important to keep in mind that marketing must be able to satisfy customers’ needs through a lively and inspiring exchange process that makes possible long-term relationships. Access to information through digital channels has become easy for customers leading to high expectations towards product and service providers. Nowadays, people do not buy a product or a service based on quality or price, but they make their purchase decision based on a the story behind a product or a service. The emergence of the Internet and the steadily increasing role of social media and other digital channels have made it possible to interact easily with customers. As a result, marketing has experienced a change in paradigm over the years.

Read more: The multidimensional characteristics of modern marketing: A broad, integrated perspective to marketing management (Kindle Edition)