Up to now we have learnt many things about the today’s role of Marketing, which it changed from being focused mainly on transactions to be focused on clients. Companies are competing on value and there is widespread use of technology applied to marketing nowadays. Concepts that are widely used are:
- Value proposition
- Integrated Marketing Communications
- Data Driven
- Customer Insight
- Value co-creation
While some time ago, marketing’s role was focused on product transactions like creating, promoting and delivering products, nowadays marketing is an interface between customers and organizations. Due to products are easily imitated and the amount of competitors is bigger, companies need to offer what customers need: solutions, experiences and value instead of just products.
In order to do that, companies require having good knowledge on what their prospects are looking for in order to compete and in order to obtain this information they have to be closer to their target customers, and achieve a bidirectional communication with them.
Technology is one core component that allows companies understand the customer-buying behavior over time and it allows building and maintaining relationships between companies and their customers (Peppers&RogersGroup, 2003).
One of the most important concepts we learnt is the value proposition; it is the message created for the company in order to reach their target clients. It describes the points of difference from the company’s competitors, explains the benefits that customers will receive with the product or service and concentrates on the one or two points of difference that brings the greatest value to target customers (Anderson, J.C et al, 2006) .
Another concept we learnt was IMC, which is the acronym of Integrated Marketing Communications. It guarantees that all types of communications and company messages are carefully linked together in order to have a consolidated communication with clients.
The concepts of Data Driven and Consumer Insight are linked (Ad Esse, 2006).
Customer insight is a process that starts with knowing and understanding of what target customers want or need, and ends checking their satisfaction with the organization. This process requires a combination of face-to-face data collection and analysis of existing performance data and Data Driven applications allows doing these activities.
In conclusion, we learnt that today’s marketing role is to be the interface between customers and companies creating the value proposition using Integrated Marketing Communications and understanding the Customer Insight with Data-driven technologies.