MARKETING: The activity, the set of institutions and processes to create, communicate, deliver and exchange offers that have value for consumers, customers, partners and society. In this document, the evaluation of marketing strategies is explained and in-depth research about the marketing mix is r...
Marketing II
Translated summary of all the classes
Sandra Merks
Institute of Accounting and Administration,
University of Aveiro, 3810-193 Aveiro, Portugal
sandramerks@ua.pt
,Aula 2: Marketing 5.0
MARKETING: The activity, the set of institutions and processes to create, communicate,
deliver and exchange offers that have value for consumers, customers, partners and society.
Marketing 5.0 – Philip Kotler (Growth, ROI and ‘next tech’)
Marketing 5.0, by definition, is the application of human-mimicking technologies to create,
communicate, deliver and enhance value across the customer journey. A sustainable society
supported by smart technologies.
With marketers facing a trio of challenges in the form of a generation gap, imbalanced
wealth distribution and digital divide, the aim of Marketing 5.0 remains the same: ‘To create
a new customer experience (CX) that is frictionless and compelling.
Predictive marketing: Allow businesses to envision how the market will respond and
proactively influence it.
Contextual marketing: Includes profiling and personal interaction driven by tech. As such, ‘It
is the backbone that allows marketers to perform one-to-one marketing in real-time,
depending on the customer context.
Augmented marketing: improves productivity of marketers. Think chatbots and virtual
assistants. The result here is speed combined with the ‘convenience of digital interface with
the warmth and empathy of people centric touchpoints.
3
, Aula 3: The evaluation of marketing
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Evaluation of 4P’s to 4E’s
Product → Experience
Touchpoints, Customer Journey, Experience
- The product is no longer primordial and has given way to what we call experience
marketing.
- Currently, what is valued is the user experience, which depends from person to person.
- Digital marketing doesn't just sell products anymore, it sells user experiences. A unique
experience is irreplaceable, a product is not.
Place → Every Place
New media, new approaches, new communication and management models.
- Physical shops still have their role, but technology has changed everything.
- Before buying in a physical shop, we do research on the internet. How many times have
we found something that has made us change our purchasing criteria?
- Distribution is no longer just a single point of sale, but any place where we have access to
the Internet, available 24 hours a day.
- So there is no longer a specific time or place to buy.
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