November, 2017
 
 
 

By Khawaja Amer

In terms of changing market trends, future markets will revolve around handy gadgets such as mobile phones, tablets, etc. The market today is racing towards a new direction - a trend just unthinkable only a couple of decades back. It is definitely difficult if not impossible for the oldies, the conventional marketers to keep pace with the emerging market trends. Marketing has now turned into a highly personalized relationship between the marketer and the customer, because both with their smart phones, are just a call away.

The amazing development in IT and the immense interest of the millennial generation in technological development has completely changed the concept of marketing. When we talk of marketing today, change is the name of the game. In fact, just when you think you’re getting the hang of things, you realize that you may be lagging behind. The 2016 marketing technology landscape Supergraphic unveiled at the MarTech Conference listed 3,874 marketing solutions representing vendors from a wide range of marketing areas. The number of companies offering marketing solutions in Supergraphic went up from approximately 150 in 2011 to 3,874 in 2016. That’s tremendous growth in just five years.

Marketing is a domain that has seen many changes and the countries which could afford to keep pace with the changes have become powerful financial hubs. The Pakistan economy currently ranks 43rd. It is forecast to be the 18th by 2050. This shows that the country is definitely progressing. Only some decades back, companies and manufacturers were using only two media to market their products and brands. From 1947-1964, advertisers depended only on print and radio. It was in the late 60s and 70s that companies started using TV as a third medium for marketing and realized the power of this new medium. In the late 80s, agencies started using computer graphics for TV commercials which instantly attracted the masses. The creative advertising agencies further developed TVCs with animation and visual effects. Internet ever since its arrival in Pakistan in around 1995, has gradually become a marketing tool for many brands.

Pakistan did not lag behind in coping with emerging market trends. It is encouraging to note that Morgan Stanley Capital International (MSCI) has reclassified its

 


Pakistan Index to the higher status of ‘Emerging Markets’. The decision has upgraded Pakistan from the stature of ‘Frontier Markets’ to ‘Emerging Markets’ and is expected to generate inflows of global portfolio investment, amounting to $475 million by the end of 2017.

Modern marketing techniques are playing an important role in boosting businesses in Pakistan. The rapid progress in the IT sector has brought enormous changes to the way national and multinational organisations are doing advertising and marketing today. The phenomenal growth of smart phones has created new ways and means for advertising and marketing. Now we receive a number of messages on our cell phones regarding sales promotions and arrival of new products from a number of big brands like Khaadi, Amir Adnan, Interwood, Habitt and a host of others. Fuelled by the explosion of devices to access customers directly and personally, marketing trends in Pakistan have changed completely as customers are now getting instant information on a daily basis from their favourite brands. This trend helps manufacturers to develop a rapport with their customers and market their products rather conveniently and effortlessly as they do it just with the touch of a button.
With the introduction of Facebook and twitter, marketers now have another very effective platform to communicate with peers, customers and potential consumers. It personalizes the “brand” and helps the marketer to spread his message in a relaxed and conversational manner. Almost all marketers are now also going for social media marketing. The trend is going viral and Pakistan is now taking a big part in developing social media marketing standards.

Today, brand communication is all about individually connecting with people and retaining that connection on a regular basis. When the marketers are on social media, customers can also view what the company says about the product and what friends, media, peers and relatives are saying as well. This helps them to select the brand they can trust or can relate to. It goes without saying that understanding customers is the key to provide better service and the best way to understand customers is through comments on the Facebook page.

     
 
     
     
 
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