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With the rapid adoption of social networks, marketing is increasingly multi-channel and relationship based, far exceeding the constraints of the initial 4Ps as a result (Mint, 2010). The use of social networks to create customer loyalty by listening more accurately and responding faster to customer needs is also a critical catalyst of change in this field (Bernoff, Li, 2008). In short, marketing is going through a metamorphosis, which will see it eventually become more focused on being real for the customer and making the entire organization align to their needs and expectations.
Marketing will also become more focused on analytics and metrics of performance as all digital channels can be easily measured and quantified in terms of performance. The rise of all forms of marketing analysis and the use of scorecards including lead scoring and funnel analysis are revolutionizing marketing and making it much more accountable and measurable in its performance. In short, marketing's transition to focusing purely on relationships is transitioning customer expectations and how people want to learn about new companies and buy from. The use of social networks has shown this is becoming prevalent for example (Rosman, 2010).
Examples of Companies Supporting My Explanation
First, Proctor & Gamble products set a very high bare of expectations and often exceed them through technology innovation (Byron, 2010). This is an example of a masterful marketing company, P&G, using its entire value chain to deliver exceptional value to customer's over time. The entire value chain of P&G is focused on how to exceed not only customers' expectations but also each member of the channel as well. A second example is Continental Airlines and their approach to managing customer service during the recent Iceland volcanic ash...
The third example is the aggressive staffing up of the Comcast Cable social networking teams in response to dropping service and customer satisfaction ratings (Bernoff, Li, 2008). In each of these examples the entire customer experience and marketing strategies have concentrated on synchronizing all efforts across the value chain to ensure customers were delighted.
References
Arussy, L.. (2010, August). When Customer Experience Matters Most. Customer Relationship Management, 14(8), 8. Link: http://www.destinationcrm.com/Articles/Columns-Departments/Customer-Centricity/When-Customer-Experience-Matters-Most -- 68542.aspx
Lior Arussy. (2005, March). Congratulations, You Are at Par: THE NEW FOUR Ps. Customer Relationship Management, 9(3), 48-49. Link: http://www.destinationcrm.com/Articles/Editorial/Magazine-Features/Congratulations-You-Are-at-Par-the-New-Four-Ps-43111.aspx
Bernoff, J., & Li, C.. (2008). Harnessing the Power of the Oh-So-Social Web. MIT Sloan Management Review, 49(3), 36-42. Link: http://www.inforesearching.com/downloads/oh-so-social-web.pdf
Ellen Byron. (2010, October 21). P&G Puts Spotlight on Newer Products. Wall Street Journal (Eastern Edition), p. B.1. Link: http://online.wsj.com/article/SB10001424052702304011604575564420769116624.html
Cashing in on social media's 'viral effect'. (2010, October 18). Mint. Link: http://www.livemint.com/2010/10/17222823/Cashing-in-on-social-media82.html
Katherine Rosman. (2010, November 3). A World in Which You Can Be Mayor - People Vie for Title, Glory, and Discounts on Foursquare.com; Marketers Play Ball. Wall Street Journal (Eastern Edition), p. D.1. Link: http://online.wsj.com/article/SB10001424052748704462704575590260880867750.html
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