Advertisers must realize that it is no longer a matter of developing a one-way promotion (top-down) as it has been since the 1950s.
In a new Age of Business characterized by a profound disruption, or by a radical change in Demand, even Advertising must adapt to the new paradigm of the Market: and begin to develop bottom-up strategies.
And begin to come to deal with the new Demand of Customers:
● which can no longer afford to buy the current generation of products based mostly on emotional values.
● which, in the nascent phase of the Market, is in continuous evolution, and hides from the traditional marketing tools. <see The hidden demand >
For these reasons, Advertising must revolutionize its strategies (apply disruptive innovation to its Models).
THE ADVERTISING MUST BE INTEGRATED
IN THE PRODUCT DEVELOPMENT PROCESS
It must be taken into account that today the winning products are constantly evolving. More specifically:
● new versions of the products have been continuously released in order to satisfy the evolution of the new Demand (the software component of the new products often has a predominant role, and therefore updating this part the product definitely changes quality).
● today a customization of the product is required for individual targets (if not ad hoc customization for the single Customer).
For this reason today
involves continuous monitoring
of the evolving expectations of the Customers.
Remember the creation of a new generation of products is no longer an option: today it is no longer possible to convince the Customers to buy the products of the current generation, since they can no longer afford – with spending severely limited due to the crisis – products that have a very low effective utility (ie products aimed mostly at satisfying emotional needs).
So in the current market transition phase
Advertising must become
the link between the Customer and the Manufacturer
in the analysis of purchasing factors
That is, Advertising, from the current “passive” role (receiving the task of helping sales of an already developed product), must move to an active role in which it supports the producer in interpreting the new Demand.
The Advertisers must therefore know how to transform themselves from “subtle” persuaders into “consultants”.