What is Marketing 4.0, customer data collection plays the main role and completely transforms the buying process, focusing on needs as well as expectations and behaviours.
Between evolution and revolution, marketing 4.0? is an effort between the mix of the old and the new, evolution has definitely generated a great benefit for both companies and consumers, this evolution is a mix between traditional and digital. For this we will go deeper into the concept.
Before going into Marketing 4.0, let’s talk about and understand its predecessors and the difference of the previous phases by putting the customer on the same horizontal communication plane to understand the new concept.
The main distinguishing feature of this type of marketing is the lack of a target audience. Companies used to manufacture their products and advertise them to anyone who wanted to buy them. There was no alignment, and competition between brands was much less.
Here, competition between companies began to grow and new opportunities arose for consumers, giving them more power to choose. As a result, companies began to tailor the promotion of their products to a more specific target audience.
It is about being more connected to individual consumers and reaching an audience whose interest goes beyond consumer satisfaction.
. Here, brands understood that people more see them as a potential customer profile with a need to satisfy in the material, also emotional, is the extent to which a company focus all its humanistic and professional philosophy to produce a positive value to the economic environment.
Since then, advertisements have shown that they don’t just want to sell products, but that they want to understand and support individuality. Brands started to engage with social causes and movements to show that they were also fighting side by side with their consumers.
What is Marketing 4.0
According to Philip Kotler, one of the most important and respected names in the field, Marketing 4.0 can be considered a revolution in the field. It is the integration of digital marketing with traditional marketing. It seeks to unify the two fields of marketing.
Kotler also says that marketing as people know it will continue to exist, but digital will continue to gain more and more traction and become the main reason for brand performance. This is due to the growth and power of the internet and social media. Both have the ability to influence individuals.
Marketing 3.0 was born with blogs, social media and websites and focuses on consumer experience and brand identification. With the advent of Marketing 4.0, everything that was previously worked on was expanded.
Along with Marketing 4.0 also comes Consumer 4.0. Therefore, it is necessary to integrate people with technology to find the perfect balance between the two. This is crucial because even though marketing trends change rapidly, they still change by people and for people.
Data is increasingly present in the strategies that are created, and making the right decisions tends to increase. Artificial intelligence and robots are also more present in everyday actions.
Characteristics of Marketing 4.0
The company anticipates customer needs, creates a permanent connection through a multichannel marketing strategy using inbound marketing.
5A The traditional «4 P’s» of the marketing mix (product, price, promotion and place) have been replaced by «5 A’s»: assimilation, attraction, argumentation and attraction.
«: assimilation, attraction, argumentation, action and apology.
The customer can be interested in several brands, obtain information on the Internet, buy and then give his opinion on his purchase. An everyday purchase can be transformed into influencing social media to positively impact the online consumer.
Marketing 4.0 leverages data collection to better meet the needs of more demanding individuals (through personalised services) in new social media technologies as mobile applications have changed much of the way consumers shop for products and services, so marketing strategies have evolved.
Digital technology profoundly transforms the buying process: customers can now discover a product online and then buy it in-store, or, conversely, they can go to the shop first and have the product delivered to their homes.
But «classic» marketing is not dead: it is still important to start by looking at the product, setting its price and then defining the places where it will be available before promoting it.