Old versus New Rules of Marketing - On the Influence of the Web

Essay from the year 2018 in the subject Business economics - Offline Marketing and Online Marketing, grade: NA, , language: English, abstract: In this short paper an attempt will be made to present the old and new scenarios of marketing. This paper focuses on the old versus new rules of marketing. The separator of old and new rules of marketing is the web. Prior to the arrival of the web, marketing organizations had only two significant options for attracting attention of clients: Buy expensive advertising or get endorsement, mainly through advertorials, from the media. But the web has changed the rules. Organizations that understand the new rules of marketing develop relationships directly with consumers. In this scenario advertising today is a money pit of wasted resources. The web has opened a tremendous opportunity to reach niche buyers directly with targeted information that costs a fraction of what big-budget advertising costs. With old rules of marketing it simply meant advertising and branding; advertising needed to appeal to the masses; advertising relied on interrupting (for instance a TV show) to gain people's attention to a product; it was one way, company to consumer; creativity was deemed the most important component of advertising; it was more important for the ad agency to win advertising awards than for the client to win new customers. None of this is true anymore; the web has transformed the rules; this paper would like to argue that a company must transform its marketing to make the most of the web-enabled marketplace of ideas. Old style Advertising and Public Relations firms' role may have diminished drastically but their role is not extinguished. In the cyber age these have gone online. The wise thing for companies to do is to combine both the old and new ways of marketing, the emphasis perhaps being on the new. Online has provided companies the best opportunity ever to expand into global markets. Marketing has become borderless. This is a paper presented at an international conference.

Did his PG Diploma in Media studies from Griffith College, Dublin, Ireland, and Licence and Doctorate in Social Sciences, specializing in media, from Gregorian and St. Thomas Universities in Rome. Has a Master's Degree in Philosophy from Nagpur University. Licence in Philosophy from St. Thomas University, Rome. Taught Media, and Philosophy for 22 years at many Institutes and colleges. Was Director of Gyandhara, Institute of Philosophy, in Orlim, Goa. From 2012-15 he taught the Under Graduate and Post Graduate Programme in the Mass Communication Department, St. Joseph's College (Autonomous) Bangalore. He was also the Head Of the Department (HOD). Has published six books. Presented papers in national and international conferences and seminars. Published scientific papers in reputed journals. Written numerous articles in religious and secular magazines. Filed press reports and Letters to the Editor in secular magazines and newspapers. He has a significant presence in online media with a personal website, blogs, and social networking pages offering comments on economic, political, religious, and social matters. He has been a full Professor of Journalism and Mass Communication at Amity University, Gurgaon, Haryana, India.