In the outline below, each element includes references (in parentheses) to related content. “CH.##” refers to the chapter objective; “PPT Slide #” refers to the slide number in the PowerPoint deck for this chapter (provided in the PowerPoints section of the Instructor Resource Center); and, as applicable for each discipline, accreditation or certification standards (“BL 1.3.3”). Introduce the chapter and use the Ice Breaker in the PPT if desired, and if one is provided for this chapter. Review learning objectives for Chapter 4. (PPT Slides 1-3).
Introduction (PPT Slide 4)
Changes in marketing are dynamic and fast-paced
Require companies to think outside the box to anticipate disruptions and new technology-enabled competition
Organizations require effective planning and sound marketing strategy
Technology disruptions include:
Blockchain
Omnichannel technologies
Consumer-centric technology
Streaming entertainment
The Challenges and Opportunities of Marketing in Today’s Economy (PPT Slide 11)
Power shift to customers
Comparison shopping and broader purchase options
Creates price match pressure on retailers
Companies are striving to:
Regain power
Focus on unique customer experiences
Understand how macro factors (e.g., weather) affect buyers
Greater anticipation and forecasting of customer needs
Changes in products and selection
Free shipping
Competition has exploded
Vast information on products
Displaced product lines
Transaction efficiency
Disrupted industries
Audience and media fragmentation
Broadcast TV and streaming have created mass channels and uncertain targeting