DATA, TECHNOLOGY & SOCIAL MEDIA: THEIR INVASIVE ROLE IN CONTEMPORARY MARKETING

Marketers have paid a huge price for their inability to decipher which trend has come to stay and which one is a fad. Such a challenge has jeopardized the survival of blue-chip brands, as marketers anticipated in vain the end of existing red ocean strategies. Essentially, the traditional marketing strategies associated with the success of well-known brands in the past are losing their relevance in the current context. There is the need to identify and understand modern trends and their implications to marketing strategy development. In light of this, this study examines fourteen (14) fundamental 'game changing' trends that are poised to impact the traditional practices and perceptions associated with marketing at the operational and strategic levels. The study presents the trends under three categories, the invasive role of technology, data, and social media, alongside looking at their impact on contemporary marketing. Each trend has been identified and analyzed based on in-depth interviews with industry experts as the primary source of data. Relevant data has also been given to present a holistic perspective on each trend.