Trends in the Marketing Industry

Trends in the Marketing Industry

In the current business era, the increase in competition has created a need for companies and businesses to invest in marketing. According to Hermawan (2019), the marketing industry is currently one of the industries experiencing rampant growth over the years. The changes are a result of the changes in consumer behavior (Hermawan, 2019). The development of technology has also played a significant role in boosting the growth of the marketing industry (Schmid, 2013). Over the past decade, there has been a rise of different marketing trends aimed at increasing customer reach, such as the use of big data to achieve better data analysis when conducting market research, email marketing, and RSS marketing. Get in touch with us at eminencepapers.com. We offer assignment help with high professionalism.

Trends in the marketing industry

The use of big data to conduct marketing research is one of the trends that are becoming prevalent in the marketing industry. Riahi and Riahi (2018) define big data as the use and evolution of technologies offering the right user at the right time with the right data from a mass of data that has been experiencing huge growth for a long time in modern society. According to Murphy (2012), the use of big data in the marketing industry includes using Twitter and Facebook to enhance research capabilities in the marketing field. The author advocates for the use of big data in future market research for better data collection. The use of big data in the marketing industry, therefore, offers room for the success of marketing activities, hence the need to embrace it in the modern marketing industry.

RSS marketing is another trend that is gaining recognition in the marketing industry. It incorporates the use of web feeds for the publication of current information used to publish content that is updated on a frequent basis. The information could be podcasts, blog entries, or news. In the marketing industry, RSS marketing is used by incorporating affiliate marketing, coupon feeds, product feeds, and press announcements and releases (Edvardsson & Whitehead, 2008). The coupon feeds are offered by using RSS feeds. In some instances, the coupon feeds are customized. Product feeds, on the other hand, incorporate the latest updates on products and services. The updates are provided to customers on a regular basis to ensure that they stay updated on any new products and services in the market. RSS marketing is, therefore, a promising trend to achieve customer loyalty by ensuring that customers are informed about the products and services they purchase.

Email marketing is one of the trends that have been in the marketing industry for a while now. In this trend, emails are sent to customers to enhance the relationship between a company and old and new customers. The emails include newsletters or advertisements that are sent to tempt older or new customers to make purchases or inform them of new services or products (Sinicki, 2019). The use of email marketing in the marketing industry enables companies to know their customers’ tastes by getting opinions from customers, thus creating a competitive advantage by meeting customer needs. The main advantage of using email marketing is that it allows companies to target their customers based on their interests because customers can sign up for a specific email.

Conclusion

Based on the above discussion, it is evident that the three marketing trends discussed enable a company to create a competitive advantage by effectively reaching customers and establishing a relationship between the company and customers. There is, however need to further explore the use of RSS marketing to understand its application in the modern business world in different sectors.

References

Edvardsson, I. R., & Whitehead, N. J. (2008). RSS as a new international E-marketing opportunity. International Journal of Technology Marketing, 3(3), 293. https://doi.org/10.1504/ijtmkt.2008.019926

Murphy, L. (2012), “Google, Twitter & Facebook… Oh my! The implications of the Twitter/Nielsen deal for mr,” GreenBook Blog, http://www.greenbookblog.org/2012/10/03/google-Twitter-Facebook-oh-my-the-implications-of-the-twitternielsen-dealfor-mr/ (accessed March 8th, 2013)

Riahi, Y., & Riahi, S. (2018). Big data and big data analytics: Concepts, types, and technologies. International Journal of Research and Engineering, 5(9), 524-528. https://doi.org/10.21276/ijre.2018.5.9.5

Sinicki, A. (2019). Why email marketing? Successful Email Marketing for Businesses. https://doi.org/10.1007/978-1-4842-5659-6_1

Xiao, Y., & Ling, F. (2019). On e-Commerce precision marketing strategy based on big data. Big Data and Cloud Innovation, 3(1). https://doi.org/10.18063/bdci.v3i1.1149

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Imagine that you recently began working in a department that supports your company’s strategic planning for growth in the industry. Your department head has asked you to do research from a newcomer’s perspective to inform future marketing directions for the company. He has asked you to write a detailed memo that identifies the three top trends in the industry. If he likes your work on this initial research, he will ask you to write a position paper on the most important issue related to these trends. (The position paper will be your assignment for project 3.) He is hoping to use your research to prepare your department to launch a new strategic plan.

This is your first real task for your new job, and you are excited and a little nervous about the assignment. You think you have a sense of the industry but know you need to do more research to be accurate in your analysis. The ability to spot trends in your industry is an important skill, and your boss wants to spend energy and capital on new growth areas, products, and services. Writing for Inc., Hall (2016) offers ideas about how to identify and evolve with industry trends.

As you begin your research, you will need to register for CareerQuest, review the available resources, and use Vault for some of your industry research. While this assignment asks you to use the resource called Vault, the graded discussion in week 5 will ask you to discuss other CareerQuest resources you found helpful or interesting.

Your assignment:

• Produce a well-researched and properly cited memo in which you identify three trends in your industry and discuss each one briefly.
  • Use the APA formatted template for project 2 – the template not only aids with correct formatting but also provides additional guidance regarding the organization of the memo.
  • The memo should be approximately 500-750 words in length (excluding the cover page and reference page).

Provide citations for at least three sources.  These sources should be a mix of journal articles from the UMGC library, information from Vault, and other pertinent and valid websites or online materials pertaining to your trends. Be sure to cite any words or ideas from your sources in the correct APA format and include a properly formatted list of references.