Brand Owners, Advertisers<\/b>\u00a0and\u00a0Marketers<\/b>\u00a0were once cosy with ‘\u00a0Mass Market\u00a0<\/b>‘. Try and reach the maximum audience numbers through mass media. A lot of the times it was about\u00a0Spray and Pray<\/b>. Mass Market transitioned to ‘\u00a0Mass Customisation\u00a0<\/b>‘ which went beyond one size fits all to one size fitting some. With the advent of\u00a0Artificial Intelligence<\/b>,\u00a0Machine Learning<\/b>\u00a0and\u00a0Data Science<\/b>, we are now in an era of the ‘\u00a0Customer Segment of One\u00a0<\/b>‘, where one individual as an audience is targeted with high degree of precision and success.<\/p>\n
The disclaimers have been turned on its head as well. What used to be common place was a term going as ‘\u00a0Caveat Emptor<\/b>\u00a0‘ which essentially was to say\u00a0buyers beware.<\/b>\u00a0The entire onus and risk on buying a product or service was all on the buyer\/end user. Now, in an over commoditised world, where we have moved on from\u00a0push and control<\/b>\u00a0to\u00a0pull and engage<\/b>, where\u00a0top down\u00a0<\/b>has given way to\u00a0bottom up<\/b>\u00a0marketing, what is evident is ‘\u00a0Caveat Venditor<\/b>\u00a0‘, where the accountability and responsibility rests fully on the seller. The wheel has gone a full circle.<\/p>\n
Not until long ago,\u00a0brands<\/b>\u00a0and their\u00a0marketing<\/b>\u00a0plans were etched out keeping\u00a0demographic groups<\/b>\u00a0in mind. A pre decided age group with a certain buyer persona was carved out and\u00a0communication<\/b>\u00a0was created to influence and impact that community. The universe has changed dramatically. Brand marketers have now started addressing\u00a0mindsets\u00a0<\/b>which throws conventional wisdom out of the window. As they have now begun to chant,\u00a0RIP Demographics!<\/b><\/p>\n
Consumer aspirations have taken a twist as well. Yesteryears we had all marketing and communication created to induce\u00a0brand ownership.\u00a0<\/b>With so much millennial consumption happening, the entire paradigm has now shifted to\u00a0owning experiences.\u00a0<\/b>The new\u00a0brand mantra\u00a0<\/b>for marketers is\u00a0CeX(Customer Experience) and the City.\u00a0<\/b>Ownership is passe,\u00a0experience is the new aspiration.<\/b><\/p>\n
Remember those days when the quintessential manna from heaven was ‘\u00a0brand loyalty ‘.<\/b>\u00a0Coveted, treasured, revered. Loyalty was royalty. In an era of surplus of goods, information, choices, services and a deficit of trust, attention and resources, ‘\u00a0customer infidelity<\/b>\u00a0‘ has replaced loyalty. Cheaper, better, faster? Here we shift loyalties!<\/p>\n
We were just coming to terms with the ‘\u00a0knowledge economy<\/b>\u00a0‘ as it moved on from the\u00a0 ‘ Industrial Economy<\/strong> ‘and before we knew it we were bang in the middle of the ‘sharing\/collaborative economy<\/b>‘. The dust had hardly settled on that and now the entire attention is rooted on the ‘\u00a0attention economy<\/b>\u00a0‘. In an age of perennial distraction,\u00a0attention is the new premium.<\/b><\/p>\n Since advent of marketing, and the quest for differentiation, the narrative has revolved around a\u00a0USP(Unique Selling Proposition)<\/b>. That feature or benefit which makes your brand distinct or unique from other competitors in the eco system.Then came the not so holy communion onslaught- the\u00a0SOS- Sea of Sameness.\u00a0<\/b>Nothing unique, nothing distinct, the herd mentality, the also ran, the me too. Which prompted our research at\u00a0ISD Global<\/b>\u00a0to discover what we have come to label as\u00a0UFP- Unique Feelings Proposition<\/b>– where state of the heart is what brands are appealing to win trust, loyalty, mind and wallet space.<\/p>\n Am sure we will have more to chew on as the intersection of consumer behaviour, rapid evolution of technology and the ever changing socio economic landscape will throw up more perspectives that we have to come to terms with. Till then,\u00a0au revoir.<\/b><\/i><\/p>\n ENDS<\/b><\/p>\n www.groupisd.com\/story<\/strong><\/p>\n www.brandknewmag.com<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Marketing the New ‘Terms’ of Endearment Over the years, tried and oft used terms in the world of business and marketing have transcended convention. We seem to be in a perennial state of having to come to terms with these terms. Here is the term sheet on that. Brand Owners, Advertisers\u00a0and\u00a0Marketers\u00a0were once cosy with ‘\u00a0Mass … Continue reading “Marketing the new ‘Terms ‘ of endearment”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[26,193,186,190,37,72,192,189,64,194,135,185,130,46,102,63,191,16,188,187],"class_list":["post-332","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-advertising","tag-artificial-intelligence","tag-attention","tag-brand-loyalty","tag-branding","tag-cmo","tag-community","tag-creativity","tag-customer-experience","tag-data-science","tag-demographics","tag-economy","tag-isd-global","tag-knowledge","tag-machine-learning","tag-marketing","tag-mindsets","tag-social-media","tag-ufp","tag-usp"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/posts\/332","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/comments?post=332"}],"version-history":[{"count":1,"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/posts\/332\/revisions"}],"predecessor-version":[{"id":333,"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/posts\/332\/revisions\/333"}],"wp:attachment":[{"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/media?parent=332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/categories?post=332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/tags?post=332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/www.sureshdinakaran.com\/blog\/wp-content\/uploads\/2018\/04\/UFP-233x300.jpg\")
<\/p>\n