Marketing 3.0

markiting

History of marketing is as recent as the history of man on earth. In the story of Prophet Adam (A.S) and Eve, Satin was influential marketer as he described product features in a way that Prophet Adam (A.S) took action under influence of that campaign. Production and selling is very important economic activity Apart from today’s marketing and selling we must know that what Islam says about these activities.

No fraud or deceit, the Prophet (PBUH) is reported to have said, “When a sale is held, say, “There’s no cheating” (Al-Bukhari).

Sellers must avoid making too many oaths when selling merchandise. The Prophet (PBUH) is reported to have said, “Be careful of excessive oaths in a sale. Though it finds markets, it reduces abundance” (Muslim).

Marketing principle “feel yourself in customer shoe” has extracted its roots from saying of Holly Prophet (PBUH) “what you like for yourself. Like it to others” in the light of these Islamic principles that would be deceptive marketing if we negatively force anyone for a sale by exaggerating products features that are not actually part of product. In Pakistan there is more emphasis on selling and marketing part is neglected. Focus in selling is “products” while in Marketing we focus “customers” So product focused strategy involves excessive oaths and exaggeration about product features. According to Islamic teachings it can win temporary sales but it reduces abundance. Marketing strategy is normally designed for long term to create long term profitable exchange relationships with customers, so it is also important to take long term consequences of marketing efforts into consideration. If just selling a product is priority; it is possible that sale has been made. But later customer may find product’s performance not up to his expectations so he will not only form a negative attitude towards company but will also cause a negative word of mouth that travel hundred times faster then positive word of mouth. So this aggressive sales focused strategy is not good for company in a long run.

Due to such deceptive marketing now is the time that customers believe more on consumers like them than companies. Such Marketing is also responsible for this decline in consumers’ trust. Marketing is not what companies do for consumers. Consumers also do marketing for their fellow consumers. Everyone is marketer and consumer towards products. This is the reason that there is shift of “trust” from companies to social media. People now believe more in horizontal relationships (with fellow consumers) than vertical relationships (with companies). Developed nations are now focusing on marketing 3.0.  But we are still unable to differentiate marketing from selling concept.

 Under marketing 1.0 concept, priority of companies is “products”. Many marketers should confess that deep in their hearts consumers are never their top priority.

 Marketing 2.0 is customer oriented approach that delivers products for customers by designing customer driven strategies.

 Marketing 3.0 has human focus; it attempts to touch human soul. There is marketing shift from products to customers to the human spirit.

Motives that direct consumer behavior can be classified as physiological and psychogenic. Physiological motives can be satisfied by offering products and psychogenic motives can be satisfied by considering human spirit concern while designing products. As society is becoming more sophisticated, consumers are trying to satisfy higher needs (psychogenic) and basic needs (physiological) becoming secondary. Consumers are giving more consideration to social, economic and environmental impacts.  It is very interesting that a company’s social, economic and environmental impacts creates positive “image” about organization so brand image will be enhanced and ultimately will result in huge sale and market acceptability.

Marketing is creating (product management) communicating (brand management) and delivering value (customer management) to target market at a price. We have to change our marketing approach. Selling products or delivering services shouldn’t be viewed as company’s objective rather products should be viewed as source for need satisfaction of customers.  Need and want satisfaction should be viewed as the purpose and providing goods and services is the mean to achieve that end. Best and ideal marketing strategy has three components.

  1. Understanding of customer need and wants
  2. Company’s objectives and scope of operations
  3. Integrated marketing strategy (aligning departmental objectives with marketing strategy)

Company should design an integrated marketing strategy to satisfy customer’s needs through their need satisfying products by taking corporate objectives into consideration. Marketers need to identify the anxieties and desires of the consumers to be able to target their minds (marketing 1.0), hearts (marketing 2.0) and spirits (marketing 3.0.