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The Future of Marketing

In: Marketing Management

Author

Listed:
  • Michael R. Czinkota

    (Georgetown University
    University of Kent)

  • Masaaki Kotabe

    (Waseda University
    University of Hawaii at Manoa)

  • Demetris Vrontis

    (University of Nicosia)

  • S. M. Riad Shams

    (Northumbria University)

Abstract

Remaining vigilant in changes in the diverse market environment is instrumental to proactively meet customers’ needs, wants, and expectations. In this chapter, we have first discussed environmental changes from the contexts of technological environment, financial environment, regulatory environment, societal environment, geopolitical environment, competitive environment, and the outbreak of COVID-19 and the subsequent pandemic. Second, we have discussed how marketers could plan for their product, price, place, and promotion strategies to respond to such market environmental changes. Finally, we have discussed how marketers and customers are interdependent in pursuing their individual goal and presented an overview on ethical consumers and sustainability concerns, ethical consumers, expanding marketing mix, cross-cultural customers and the global village as single market, some ongoing changes in marketplace, and how marketers become change agents in the marketplace. It is important for marketers to explore customers’ latent needs to become successful change agents.

Suggested Citation

  • Michael R. Czinkota & Masaaki Kotabe & Demetris Vrontis & S. M. Riad Shams, 2021. "The Future of Marketing," Springer Texts in Business and Economics, in: Marketing Management, edition 4, chapter 15, pages 695-730, Springer.
    • Handle: RePEc:spr:sptchp:978-3-030-66916-4_15
    DOI: 10.1007/978-3-030-66916-4_15
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