Dealing with Marketing Phenomena: Impact on Business and Consumers

This report delves into the realm of marketing phenomena, focusing on their impact on businesses and consumers. It examines key trends such as increasing personalization, data security, and transparency. The report explores how these phenomena are changing business practices, including advanced personalization techniques and the importance of data security. Furthermore, it analyzes how consumers are adapting to these changes, considering factors like purchase history and preferences. The report also discusses the future prospects of each phenomenon, suggesting a continued rise in specialization and the integration of digital technologies for enhanced control. The report is supported by several academic references, providing a comprehensive overview of the subject matter.

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Running head: DEALING WITH MARKETING PHENOMENA
Dealing with Marketing Phenomena
Name
Institution
Author’s Note

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DEALING WITH MARKETING PHENOMENA
Marketing phenomena
Explanation of the phenomenon?
Marketing phenomena is an issue that has been able to gain high levels of popularity
across various business boundaries. Moreover, they have been able to give a perfect description
of quite a number of situations and as a result, taking business opportunities to higher levels that
could never be imagined before. Additionally, there are different types of marketing phenomena
that have been implemented for various purposes in this modern society (Meyer & Peng, 2016).
In most cases, quite a number of companies have been able to implement different types of
marketing phenomena with an intention of attaining high standards that can be able to put much
focus on quality and reliable customer services through specific products that they have decided
to put much focus on. The following are among the major marketing phenomenon being used by
various companies to attain certain goals within a stipulated time frame;
Increasing personalization- Currently, the large amount of data available is currently
allowing them to carry out advanced personalization in their messages with an intention of
reaching out to a wide range of customers within a short time frame.
Data security and transparency- This is an important marketing phenomenon that most
companies have been able to put much focus in. This allows them to be able to come up with
several forms of general data protection regulations that have been able to enhance higher levels
of security within the organization. This mode of marketing phenomenon is also focused towards
implementing quite a number of issues that are known to be fully associated with transparency
within the marketing boundaries thereby attracting the attention of quite a number of target
groups.

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DEALING WITH MARKETING PHENOMENA
How does this phenomenon change the manner in companies are doing their
business?
Scaling up personalization- This phenomenon changes the way companies are doing their
business by making sure that they are able to attract the attention of various customers.
-Advanced personalization is able to increase awareness across all the customers thus making
them to respond well to various personalization issues (Katsikeas, Morgan, Leonidou & Hult,
2016)
-Lastly, advanced personalization allows various companies to personalize quite a number of
their messages by considering different forms of ethical rules hereby giving them an opportunity
to reach out to most of their customers.
Data security together with transparency- This phenomenon changes the way companies are
implementing their business by providing one of the best opportunities to focus on security
issues for both the organizations together with that of the customers.
-The phenomenon also enables companies to be more transparent in their dealings thus
increasing the bond that exists between them and all the customers.
-The phenomenon has also enabled various companies to come up with quite a number of
automation processes within the digital marketing sector thus making it much easier to retrieve
various types of essential information at any given time (Resnick, Cheng, Simpson & Lourenço,
2016).

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How the consumers are changing their way to consume various types of products.
Scaling up personalization- Under this phenomenon, more than half of the consumers are more
likely to buy from different types of retailers that are aware of their purchase history.
-Different consumers are more likely to purchase various products in relation to all the
recommendations that they get that strongly rely on their preferences.
-Lastly, there is a group of consumers who are more likely to make a direct purchase from the
retailers who are capable of providing them with quite a number of personalized promotions.
Data security together with transparency- A good percentage of consumers are more likely to
use products that are secure and are not able to relay quite a number of information about them
without their consent.
-Different consumers will also prefer making purchase from a transparent and reliable business.
-A good number of consumers are likely to make a direct purchase from the companies that have
invested much in data security issues (Ndubisi & Nataraajan, 2016).
The future for each phenomenon
Scaling up specialization-The future for increasing specialization as a marketing phenomenon is
likely to scale up to higher levels thus gaining popularity across many companies that are
focused towards attaining a specific goal.
Data security together with transparency- There is a high probability that the future for this
phenomenon will be propelled by the implementation of quite a number of digital technologies
thus making various operations to be more easier to control.

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References
Katsikeas, C., Morgan, N., Leonidou, L., & Hult, G. (2016). Assessing performance outcomes in
marketing. Journal of Marketing, 80(2), 1-20.
Meyer, K., & Peng, M. (2016). Theoretical foundations of emerging economy business research.
Journal of International Business Studies, 47(1), 3-22.
Ndubisi, N., & Nataraajan, R. (2016). Marketing relationships in the new millennium B2B
sector. Psychology & Marketing, 33(4), 227-231.
Resnick, S., Cheng, R., Simpson, M., & Lourenço, F. (2016). Marketing in SMEs: a “4Ps” self-
branding model. International Journal of Entrepreneurial Behavior & Research, 22(1),
155-174.