Dr. Buranin Rattanasombat, President of the Marketing Association of Thailand (MAT), along with Assistant Professor Dr. Ake Pattaratanakun, Vice President of Sustainable Communication and Marketing Activities, unveiled four marketing trends that are prompting businesses to adapt their business models to meet consumer demands. They propose a progressive strategy, the "Change and Reform Concept," to succeed in the modern marketing world.
Dr. Buranin revealed that consumer behavior is becoming increasingly complex, signaling a new era in the marketing business. The behavior, needs, and expectations of consumers have significantly changed, rendering traditional marketing plans ineffective in achieving desired results.
"In a business world where consumers are seeking new value and experiences, executives and marketers must pay attention to strategy adjustments, changing methods, and innovative inventions to meet their needs. These will lead to the four major marketing trends of 2023: 'Personalized Marketing,' 'Marketing on Multiverse,' 'Real Marketing,' and 'Dynamic Brand Marketing'," said Dr. Buranin.
The Marketing Association of Thailand (MAT) proposes a strategic guideline for organizations to follow: 1. Customer Empowerment: Prioritizing customers and making them the center of attention enables the creation of meaningful experiences aligned with their changing needs. 2. Applying Data Analytics and Machine Learning: Organizations must leverage technology to analyze data and derive marketing and sales benefits. 3. Accelerating Personalized Marketing at Scale: Utilizing technology and data to create personalized experiences for customers. 4. Building Ecosystems: Focusing on building comprehensive ecosystems, rather than solely focusing on brands or products.
These four major trends culminate in the New Marketing Model for the Future, which seamlessly connects the real and virtual worlds, with the consumer at the center and a focus on empowering customers while delivering valuable experiences.
Assistant Professor Dr. Ake Pattaratanakun, Vice President of Sustainable Communication and Marketing Activities, emphasized that this changing landscape also presents an opportunity for service providers and marketers to embrace the "Change and Reform Concept" and drive their businesses forward smoothly. In this era, there are five new marketing dimensions, collectively known as PILOT: P: Pioneering, leading the way I: Insights, delving deep L: Long-term, taking a forward-looking approach O: Openness, being open to new possibilities T: Timeliness, being responsive at all times
In this era, organizational leaders must act as pilots to drive the business forward, while new technologies serve as co-pilots. Combining vision and technology enables leaders to create change, starting with themselves and their teams.
Furthermore, the approach to creating change involves "Reframe & Reform," which means modifying and reforming ideas. Reframe - Modify and connect the old with the new world. When technology leapfrogs, consumers leap, and new-age children leap, organization leaders or marketers have to jump over the original pattern to embark on a new thought process that connects with changes, enabling them to soar. Reform - Reform the business to continue in the new world that is full of changes all around. It is important for executives to open their eyes to new ideas in order to find the possibility of keeping going and growing.
The Marketing Association of Thailand has launched two flagship courses catering to executives seeking to drive change. The course "XYZ: Experience Your Zero" offers an executive program organized as Cross-Generation Experience-Based Learning. This course will run from August 16 to September 20, 2023, and helps senior executives gain new perspectives and a deeper understanding of the Gen Z marketing world. The content covers four essential insights: 1. Gen Z Insight: Understanding the concepts and different worlds of Gen Z. 2. Business Insight: Expanding the vision of doing business in a changing world. 3. Communication Insight: Adapting communication perspectives to connect with the new generation. 4. Technology Insight: Transforming the traditional working world with new technology.
Additionally, the course "MORPH: Visionary Re-Defined" focuses on reframing and reforming ideas through the 'Morphology' Growth Mindset Marketing Program. It showcases real-life stories of executives who are not just thinkers but also doers, risk-takers, calculators, and change-makers.
The course encourages participants to reflect on the essence of their organizations, understand the need for change, embrace technology, and strive towards their goals. The aim is to create a community of new-generation executives who are ready to learn, adapt, and excel in all aspects. The course will be held from September 8 to November 3, 2023.
Source: PR & Associates
