Defining Market For

The 21st Century

Rahee Hardaha

Major social forces have created new marketing Behaviors……

Today market place isn’t what it used to be 10 years ago.

Network Information Technology

Accurate level of production Targeted Communication Relevant pricing

Globalization

Deregulation

Government policies of

deregulation and liberalization

Heightened Competition

Industry Convergence

New opportunities at the intersection of two or more industry

Retail Transformation

reduction in the use of intermediaries between producers and consumers

Disintermediation

Consumer Buying Power

Compare product price and features and order online

Collects information in depth Can draw out the offerings they

want More price and quality sensitive

Societal forces created new set of Capabilities for marketers

Today market place isn’t what it used to be 10 years ago.

Fuller and Richer Information

Markets

Sales channels

Competitors

Customers

Feed information and updates

Creating buzz

Ads and coupons

Tapping into Social Media

Mobile Marketing

Location based Ad and offers

Individually Differentiated goods

Improved Recruiting and Training

Better Internal communication

Created by Rahee Hardaha,IIT Delhi, during an internship by Prof. Sameer Mathur, IIM Lucknow.

www.IIMInternship.com