Customer-Centric Excellence in the Marketing 6.0 Era: Industry 6.0

Customer-Centric Excellence in the Marketing 6.0 Era: Industry 6.0

Copyright: © 2024 |Pages: 28
DOI: 10.4018/979-8-3693-3108-8.ch013
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Abstract

This chapter examines the evolving landscape of marketing in the contemporary business environment, with a particular focus on the sixth wave of marketing (Marketing 6.0). This wave represents a paradigm shift towards unprecedented customer-centricity, where businesses are compelled to align their strategies with the ever-changing expectations and preferences of the modern consumer. The chapter begins by providing a comprehensive overview of the historical progression of marketing, from its inception to the current era, highlighting the pivotal shifts that have shaped each phase. It then meticulously explores the core principles and characteristics that define the Marketing 6.0 era, emphasizing the pivotal role of technology, data analytics, and artificial intelligence in reshaping the marketing landscape. Furthermore, the chapter addresses the key challenges and opportunities faced by businesses as they strive to adopt customer-centric excellence in Marketing 6.0.
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1. Introduction

1.1. Setting the Stage for the Evolution of Marketing

Customer-Centric Excellence in Marketing 6.0 Era involves a comprehensive understanding of the dynamic shifts in consumer behavior, technological advancements, and the emergence of new business models. In this era, the focus is squarely on the customer, with marketing strategies designed to meet their needs and expectations. Firstly, the digital revolution has significantly altered how consumers interact with brands. The prevalence of smartphones, social media, and e-commerce platforms has created a hyper-connected world where customers have instant access to information and can voice their opinions globally. This necessitates a shift in marketing strategies towards personalized, real-time engagement (Anderson & Jacobson, 2000). Brands need to leverage data analytics and artificial intelligence to gain insights into customer preferences, behaviors, and journeys. Secondly, the Marketing 6.0 Era emphasizes the importance of creating a seamless and integrated customer experience across multiple touchpoints. This involves breaking down silos within organizations to ensure that marketing, sales, customer service, and other departments work cohesively to deliver a consistent brand experience. Companies are adopting omnichannel approaches to meet customers wherever they are, providing a unified and personalized experience across online and offline channels. Moreover, the rise of social responsibility and ethical consumerism is another key factor in Customer-Centric Excellence in Marketing 6.0 Era. Customers are increasingly valuing brands that demonstrate a commitment to sustainability, social justice, and ethical practices. Companies must align their marketing strategies with these values, transparently communicating their efforts to build trust and loyalty among socially conscious consumers. Furthermore, advancements in technology, such as augmented reality (AR), virtual reality (VR), and the Internet of Things (IoT), are reshaping the way products and services are marketed. These technologies enable immersive and interactive experiences that can enhance customer engagement and create memorable brand interactions. Marketers need to stay abreast of these technological trends and incorporate them into their strategies to stay competitive in Marketing 6.0.

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