Chapter 3 : MARKETING TRENDS

 Everyday, we notice the world's continuous changes (positive and negative) which directly affects consumers perception of goods and services (how they consume and choose brands).This information is gathered with the help of  Marketing Intelligence System.

A typical consumer may tell you what his current needs are now but cannot predict what he wants five to ten years from now that is as the world changes, technology advances, consumers expectations changes. Consumers values over a particular period is known as trends. 

What are marketing Trends 

In today's fast-paced world, companies must adapt and embrace latest trends to remain relevant, competitive and take up new opportunities.Being up to date with these trends can help create successful marketing strategies.

Artificial Intelligence as a Trend

With the fast pace in advancement of technology, the role of A.I in our daily lives is also on the increase. With the growing needs of consumers seeking personalized experience, By  gathering and analyzing vast amount of data, artificial intelligence enables brands to better understand their target audience to provide tailored solution.AI provides timely interactions with consumers, which ultimately results in increased customer satisfaction and loyalty.

A.I - It's implications in Business and Marketing

Businesses are leveraging AI to deliver tailored solutions. From targeted marketing campaigns to customized product recommendations, round the clock support, personalization enhances customer satisfaction, drives loyalty, and increases conversion rates.

Amazon, a giant  in the e-commerce business and also a pioneer in the  use of AI technology for its marketing strategy. Here are some key points about Amazon's use of AI in marketing:

• Product Recommendations: Amazon's AI-powered recommendation engine suggests products to customers based on their browsing and purchase history. This has significantly increased sales to resulting in customer satisfaction. In fact, it's estimated that 35% of Amazon's sales come from product recommendations.
• Search Engine Optimization (SEO): Amazon's search algorithm uses A.I to understand the context of a search query and display the most relevant products. This has helped Amazon become the go-to destination for online shopping.
• Advertising: Amazon uses AI to target ads to customers based on their purchase and browsing history. 
• Alexa: Amazon's virtual assistant, Alexa, is powered by AI and has become a major player in the smart home market.

In conclusion,As the role of AI technology in marketing continue to grow, marketers will be able to deliver personalized content at unprecedented levels of effectiveness.

References :Ilias Avgeropoulos(2004) Marketing Planning power point , Kotler (2000) Marketing Management ,AIContentfy team (2003) The Future of Marketing