The consumer is changing every day. Much has been said on the multitude of choices available that the new-age consumer has and how this is only increasing some more. And as new products and services make way in the market, through known and emerging channels, there also is information and communication overload. Today's consumer truth revolves around decreasing attention span and increasing cynicism – DND is the preferred response to advertising. Paid messages are truly living a new battle.
To add to this, distribution mechanism is undergoing change. The rise of modern retail came with unprecedented opportunities but it has also brought new challenges. India too has begun to see its share of personal selling but even before marketers could really comprehend what this would have meant as business opportunities, one can already see the emergence of the internet as a distribution channel. Group deal sites are no longer just experiments.
Value” has always been important for the Indian consumer, but progressively it finds a new meaning. Media exposure has created the Connected Consumer. They know what is happening around them, and they don’t shy from comparing prices, product attributes and features and quality of services not only for big buys but also for the smallest purchases. The active lookout of “what more” and “how much better” has increased and this can be seen in the change in the sale culture, in brands creating experience for consumers and in companies creating talking points.
Consumer expectation, not only from product and service but also from company per se, is increasing. The small margin of consumers that look beyond the product and price-tag, and care about what a corporate is doing for the society and for the consumer, is increasing every day.
In such a background, where the Indian marketplace is seeing new kinds of segmentation, what should a marketer do to address the New Marketing Era?
Push” in communication and messaging is nearing the point, where its relevance and effectiveness can soon be questioned. Engagement with the audience has become all important, and even as everyone speaks of it, how many truly achieve it.
Media communication channels are increasing but so are the platforms that enable consumers to make more informed decisions. Paid media can pale in front of user feedback on a web portal. Word of Mouth is more important than a campaign Share of Voice. Company salesmen are competing with search results.
When earned media is easier said than “earned”, how are industry game-changers and thought leaders Reshaping Media Priorities?
The exchange4media Conclave 2011 will revolve around discussions that will deliberate all aspects of these questions.