Marketing in the 21st Century There Are Essay

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Marketing in the 21st Century

There are several trends that have worked to create new dynamics for marketers in the 21st century. The advents of ecommerce and social media have definitely changed the ways that consumers buy and research products. There are multitudes of different ways that consumers can rate products and get professional and peer reviews for products online. There are also new ways of distribution and product placement. Consumer perceptions of traditional marketing messages have also grown to be cynical and effective marketing must now transcend the old paradigms and reach consumers in new ways. This analysis will provide a brief overview of the challenges that face marketers in this century.

Marketing and Promotions Process Model

Marketing products in the mature phase of their lifecycle can be a daunting task. Maturity is the third phase and represents a product that really isn't new anymore and it is difficult to create new demand.

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It has become an established brand in its target market and the trick now is to maintain this position as long as feasible possible. At this stage, competition begins to try to steal market share as competing companies either mimic the mature product's strategy or possible have designed something newer or somehow improved (Suttle, 2011).

Much of the target market has already been established with mature markets. However, there are generally opportunities to find new markets for existing products with different usages or different niches. The profitability of established products is affected greatly by the extent to which they ar (Harris & Ogbonna, 2003)the individual….....

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"Marketing In The 21st Century There Are", 25 October 2014, Accessed.17 May. 2024,
https://www.aceyourpaper.com/essays/marketing-21st-century-193066
   

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