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Kathy Voltan
Rachel Minicucci
Three Drivers of Change in Marketing Industry
May 17th, 2016

In recent years, the marketing industry has experienced several changes that
have shaped the way marketing takes place today. In this memo, I will discuss
the three major drivers that have accelerated this change within the industry:
consumer driver, revenue driver, and technology driver.
Consumer Driver
Consumers now hold the power in the marketing industry. Businesses are
dependent on their consumers to play an active role in creating content about
products and services experiences (Danciu, 2013, p. 39). This places significant
risk onto the business as consumers are given a lot of power. Businesses risk
brand equity if their product or service is not up to the consumers standards.
Consumers have a voice on social media platforms and this poses advantages
and disadvantages for business owners. As Jon Miller, co-founder of Marketo,
stated, Business success today depends less than ever on your message or
brand, and more than ever on the relationships your business builds with each
customer (2015). Businesses now operate with transparency and rely heavily on
consumers to drive positive messages about their brand.
Revenue Driver
Historically, marketing has been viewed as an expense to businesses but has
recently shifted to being regarded as a source of revenue. There is now a source
of revenue that is attributed directly to marketing (Ellett, 2015). This newfound
information has created a shift in focus for many businesses from sales to
marketing. Marketing is no longer just a single campaign published by the
business but now takes on a focus for customer experience (Venture Beat,
2015). This effort translates into customer lifetime value, which is important to the
brands loyalty and continues to derive long-term revenue for the business.
Businesses now recognize the return on their investment associated with
marketing and this has changed the way they allocate their budget.
Technology Driver
Technology is a powerful engine for marketing (John, Weiss, & Dutta, 1999).
Technology has altered the way marketing takes play as platforms such as
Facebook, Twitter, Instagram and Snapchat become increasingly popular.
Jessica Gioglio from Convince and Convert reports, During Superbowl XLVIII,
Audi turned to a strategic partnership with Snapchat and The Onion to raise
awareness with the Millennial demographic (2014). This is an example of one of
the many ways businesses are using technology as a marketing tool. Technology
such as social media in this case, is a way that businesses are stepping away
from traditional marketing platforms such as radio and television (Shank &
Lyberger, 2015). This campaign was successful as Audi gained more than 5,500

new followers during the Superbowl. Technology has pushed the limits on
marketing and is dominating the industry with new innovative and creative
approaches.
To close, consumers, revenue and technology are the three drivers of the
marketing industry today. I hope this information has assisted you with your
analysis of the current industry. If you would like to discuss this information in
greater detail or have any questions or concerns, you may contact me directly by
email at rachel.minicucci@ryerson.ca or by phone 647-123-4567.

Work Cited
Danciu, V. (2013). The future of marketing: An appropriate response to the
environment changes. Theoretical and Applied Economics, 20(5), 33-52.
Retrieved May 15, 2016, from http://store.ectap.ro/articole/859.pdf
Ellett, J. (2015, February 4). Retrieved May 15, 2016, from
http://www.forbes.com/sites/johnellett/2015/02/04/new-study-says-6changes-that-will-transform-marketing/#5de4aeefe4da
Gioglio, J. (2014). 5 Creative Ways Brands Are Using Snapchat. Retrieved May
15, 2016, from http://www.convinceandconvert.com/social-media-casestudies/5-creative-ways-brands-are-using-snapchat/
John, G., Weiss, A. M., & Dutta, S.. (1999). Marketing in Technology-Intensive
Markets: Toward a Conceptual Framework. Journal of Marketing, 63, 78
91. http://doi.org/10.2307/1252103
Shank, M. D., & Lyberger, M. (2015). Sports Marketing: A Strategic Perspective
(5th ed.). Oxon: Routledge.
Venture Beat. (2015, June 3). Campaigns are so yesterday marketing today
must focus on the customer experience. Retrieved May 15, 2016, from
http://venturebeat.com/2015/06/03/campaigns-are-so-yesterdaymarketing-today-must-focus-on-the-customer-experience/

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