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@emerging Business & Marketing Trends

This document summarizes emerging business and marketing trends presented by Jeffery Lim. It discusses the advantages and threats of glocalization, five emerging business trends including digital transformation, supply chain issues, sustainability, the metaverse, and talent challenges. It also summarizes marketing trends like influencer relationships, video content, AI, IoT, social responsibility, and privacy. Finally, it discusses managing relationship marketing, the transition from a linear to circular economy, and drivers of the circular economy like digital technologies.

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Hương Ly Lê
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31 views32 pages

@emerging Business & Marketing Trends

This document summarizes emerging business and marketing trends presented by Jeffery Lim. It discusses the advantages and threats of glocalization, five emerging business trends including digital transformation, supply chain issues, sustainability, the metaverse, and talent challenges. It also summarizes marketing trends like influencer relationships, video content, AI, IoT, social responsibility, and privacy. Finally, it discusses managing relationship marketing, the transition from a linear to circular economy, and drivers of the circular economy like digital technologies.

Uploaded by

Hương Ly Lê
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Emerging Business & Marketing Trends

Delivered by Jeffery Lim


+84 377373896 [email protected]

@2007, Huong
Glocalisation Advantage
• Expand market share and reach new customers offering products or
services tailored to local needs and tastes
• Enhance customer satisfaction and loyalty – expectations and values
• Promote innovation to develop new solutions and features that
address local market
• Promote cultural diversity by exposing customers to different
perspectives and experiences from other parts of the world.
Glocalisation Threats
• Increase costs and complexity of production and distribution by
requiring businesses to modify their products or services to comply
with local regulations and standards
• Ethical and social dilemmas on local culture and norms and
maintaining their global identity and values
• Threaten local identity and sovereignty by eroding the
distinctiveness and autonomy of local culture and economy in the
face of global influences and pressures
• Exploitation on natural resources and generation of waste and
pollution as a result of mass production and transportation of goods
or services
Five Emerging Business Trends

1. Accelerating of the Digital Transformation


Most visible in development of 5G technology, Block Chain,
Cloud, Internet of Things (IoT), Augmented Virtual Reality (AVR) –
enhancing each other by applications of artificial intelligence (AI)
What Drives
Omnichannel Marketing ?
Customer Target Audience
Centrism Segmentation

Customer
Personalisation
Data

Tools and Metric and


Technology Analytics
Five Emerging Business Trends

2. Inflation and Supply Chain Security


Covid-19 brought about business stagnation and disruption of world
supply chains. Ukraine war brought about insecurity of supply chains
causing shortages and pushes up prices.
Companies need to improve their resilience in ways they can to reduces
exposure to volatile market pricing and commodities. As well as building
protective measures in the supply chains to deal with shortages and
rising logistical costs.
Five Emerging Business Trends

3. Sustainability Resilience
Centre of all companies and investors to reengineer their business
processes and supply chains to ensure they can manage and
minimize negative effects on their businesses
Five Emerging Business Trends

4. Emergence of The Metaverse


The 3rd evolution of Internet and focus on application of Augmented
Reality (AR) and Virtual Reality (VR) giving customers more reality and
3D immersive experience.
An example: Hugo Boss using avatar technology to allow customers to
mix and match clothing using created customer’s Avatar. The future
these Avatar will become more realistic humanlike for higher quality
experience. Augmented Virtual Reality (AVR) conferencing allow us to
participate in meetings, and revolutionize the world of virtual
entertainments.
Five Emerging Business Trends

5. The Talent Challenge


Companies having to secure talented people to collaborate and
match working alongside intelligence machines. Massive talents gaps
in areas such as digital literacy, artificial intelligence (AI), data science,
metaverse skills and so on.
Huge challenge to reskills workforce for the happenings 4th Industrial
Revolution. HR challenge to attract the right talents and adapt to
offering flexibility, hybrid work, authentic leadership that focus on
value diversity and flexible work days and locations.
Phygital marketing is a
Marketing marketing strategy that
bridges the divide between
the physical and digital world
to provide a unique
interactive experience for
customers, where these two
worlds are blended into one.

Customers are essentially


phygital as they inhabit both the
physical and digital worlds. It is
therefore important for
marketers and retailers to utilize
this space between the physical
and digital worlds and meet the
consumers in between.
Marketing Trends – Changing
Consumer Behavior

1. Long-term Influencer Brand Relationships


One of the best marketing strategies is word-of-mouth advertising.
People are more likely to try a product or service from someone
whom the know.
Marketing Trends – Changing
Consumer Behavior

2. Live streaming and video-based content


A key focus area in social media marketing because it can capture
a viewer’s attention for a longer amount of time compared to
static posts.
From FB, TitToks to Instagram reels, marketers are using bite-sized
videos to drive engagement and increase brand awareness among
millennials and Gen Z
Marketing Trends – Changing
Consumer Behavior

3. AI For Better Trendspotting


Artificial intelligence (AI) is making a huge impact in many industries and marketing
professionals are leveraging AI methods such as data models, algorithms, and
machine learning to better understand their target audience. AI managed data can
help marketers optimize spending, customize and target content, and personalize
their customer experience. AI benefits:
- Smarter, more targeted advertisements
- Accurate trendspotting and predictions
- Better understanding of buyer behavior
- Increased customer retention and loyalty
- Enhanced self-service capabilities
- Higher ROI through effective targeting
Marketing Trends – Changing
Consumer Behavior

4. Incorporating the Internet of Things (IoT)


The Internet of Things (IoT) is now broadly known and accessible to
users through e.g., Alexa, Siri, Chatgpt etc. According to Cisco, 500
billion devices are expected to be connected to the internet by 2030.
Which mean marketers should consider thinking about how to
incorporate IoT and artificial intelligence (AI) into their marketing
strategy programmes such as omnichannel marketing across their
potential buyers will be using
Marketing Trends – Changing
Consumer Behavior

5. Social Responsibility and Reputation


Consumers prioritise brands that practice social responsibility by
balancing their money-making initiatives with social beneficial practices.
Marketers realized this importance and practices:

- promoting recyclable packaging


- promotions that spread awareness of societal issues
- running one-for-one campaigns to donate products to those in need
- having company-sponsored community services or activities
- promoting fair trade
- advocating for social justice
Marketing Trends – Changing
Consumer Behavior

6. Emphasis On Consumer Privacy


Many companies are developing new systems to ensure
customers feel secure when providing their personal information.
While identity theft and data breaches have always existed, the
rise in cyberattacks has consumers realizing just how vulnerable
their data is.
Managing Relationship Marketing
– Be Consumer Centric

Apply mix of tactics to promote long-term satisfaction and


customer loyalty. Examples of relationship marketing include
Proactive customer service, Loyalty programs, encouraging
Feedback, and Promoting the Benefits of a product rather than just
its features.
Relationship
Marketing
CONVENTIONAL ECONOMY_ LINEAR

In a linear economy, which has been in use since the


beginning of the industrial revolution and dramatically
increased since WWII, the product life cycle is: “make, use,
discard.” Linear model generates billions of tons of waste
every year and contributes to increases in greenhouse gas
emissions.
Emerging Trends: CIRCULAR ECONOMY

“A Circular Economy is an industrial system that


is restorative or regenerative by intention
and design. It replaces the end-of-life concept
with restoration, shifts towards the use of
renewable energy, eliminates the use of toxic
chemicals, which impair reuse and return to the
biosphere, and aims for the elimination of waste
through the superior design of materials, products,
systems, and business models. ”
Drivers Of Circular Economy
Digital Circular Economy

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