A few years back, Philips (Royal Philips Electronics),
one of the largest electronics companies in the world, came
out with energy efficient lighting solutions. Wipro, a well-established
company in technology sector, launched its eco-friendly
products namely, Greenware. Volvo Bus Corporation launched
Volvo buses. Effective and efficient lighting solutions
launched by Philips or eco-friendly Greenware by Wipro or
the safety aspect of Volvo couldn't have become popular
on their own. Public Relations (PR)-oriented advertising
was the reason behind them all. This effort put in by famous
brands indicates that, in future, PR will be the best available
tool for all the promotional (marketing) activities.
Marketing is the process of identifying and reaching specific segments of a population for the purpose of selling products or services. There have been many changes involved in the process of marketing since its evolution. It has become imperative for every marketer to persuade one's customers to earn profit. Meeting the customers' needs, whose tastes are different from one another, is a difficult task. It is not easy to attract the customers who have diverse demographic, psychographic and sociological characteristics through eye dazzling techniques. The era of marketing mix which comprised 4Ps namely price, promotion, place and product, is out and that of Marketing 3.0 is in. It is no longer possible for an organization to survive on the basis of one way communication, i.e., through advertising. Marketing 3.0 or customer relationship management is the need of the hour as it enables sales and marketing professionals to deliver targeted communications to prospective and existing customers and shorten the sales cycle. |