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The New Marketing Era

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The New Marketing Era

Marketing to the Imagination in a Technology-Driven World

McGraw-Hill,

15 min read
10 take-aways
Text available

What's inside?

You can use a vast array of innovative technology to reach your customer, but the sophisticated messages won’t work unless you also understand human psychology.

Editorial Rating

5

Qualities

  • Concrete Examples

Recommendation

Paul Postma explains marketing strategies based on new technology. His strongest material emphasizes using information age technology to learn about consumers’ behavior. New technologies, he explains, must be adapted to actual human behavior, because technology has changed quickly, but the human mind has not. Postma cites successful applications of these techniques, mostly from the Netherlands. A few concerns about the book: There are many good insights, but they sometimes get lost in the academic writing and extraneous detail. The basic marketing discussion is very basic. And, rapid change has already slightly dated some material though the book is only two years old. getAbstract recommends this book to marketing managers and company owners who use the newest technology, and to academics teaching college classes on marketing methods.

Summary

The Changing World of Marketing

The marketing world is changing. The processing power of the silicon chip has increased so rapidly in the last twenty-five years, it has opened many new opportunities in electronic commerce. At the same time, the processing abilities of the human brain haven’t changed and neither have many of the fundamental characteristics of human behavior. Thus, you need to adapt your marketing approaches to use the power of the new technology and, at the same time, to recognize human needs and limitations.

In this new era, think of marketing as "the transmission and reception of communication impulses with the ultimate aim of receiving sales impulses." In other words, sending electronic messages to achieve a sale.

As a result of this new means of marketing, the traditional marketing mix of the "Four Ps" - product, price, place, and promotion - has shifted. These four elements are no longer enough. Now you must consider a more individualized approach to marketing. You can still use personalized mass communication by sending the same message - individually addressed - to customers. And, now you can use the same large-scale, personalized mass ...

About the Author

Paul Postma is managing partner of Ernst & Young, a leading consulting firm, and its European Director for Marketing and Customer Relations Management. His clients include banks, airlines, oil companies, government agencies, and members of the IT industry. He lectures internationally and has written five books and many articles on marketing.

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