Forces of change in growth markets
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Transcript of Forces of change in growth markets
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MARKETING IN A GROWTH MARKET
Dr Dennis Price
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The World
Australia
WA
Consumers…
in high growth area…
People…
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act[ the world is changing ]
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• Richest in the World
• Largest Military
• Center of world business and finance
• Strongest education system
• World center of innovation and invention
• Currency the world standard of value
• Highest standard of living
Name this country…
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England…
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In 1900
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orces of change
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two forces colliding
DIGITAL CULTURAL
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20 years in tech…
1990
2010
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spot the difference
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Male = Female
40% = >35
48% = >75K
21.26 million
active mobile phone
servicesin AU
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ephemeralisation
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Live Music
Vinyl
TapeCD
Cloud
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SNAPCHAT
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socialisation
ME WE
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facebook twitter
while the sexy girls of social media walk past you take your eye of the road
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ME
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WE
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life’s a game
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INFOGRAPHICS, becausespreadsheets are too hard
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April 2013
Whoever has will be given more, and they will have an
abundance. Whoever does not have, even what they have will be taken from them.
THE MATTHEW EFFECT(Matthew 13:12)
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two forces colliding
DIGITAL CULTURAL
MobileUbiquity
InstantaneousEphemeral
SocialInfantile
PresentistEmpowered
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the story so far…
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The World
Australia
WA
Consumers…
in WA
People…
PresentismUbiquitousEmpowered
GamificationVigilant
Collaborative
?
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ut in WA…
AS A REGION
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Economy = Commodity driven
Volatile and Cyclical
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Perth consumers generally pay more for
retail commodities than other state
capital cities
Vulnerable to online & showrooming
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Transient employees = Transient consumers
Low Commitment
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WA retail businesses
52% (1-19 employees) 38% (non-employing)
90% =Small (Risky/ Dependent)
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bout growth
GENERALLYSPEAKING
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Growth attracts competition
Many optionsPrice pressure
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Hard to habituateNew/Now/Low
Increasing options
Neophilia
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Demand
Supply
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PAIN forUser
PAIN for Supplier
Demand Curve Supply Curve
Growth creates Supply & Demand Momentum
Lag
AsynchronisedSupply & demand
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The World
Australia
WA
Consumers…
in WA
People…
PresentismUbiquitousEmpowered
GamificationVigilant
Collaborative
?Volatile/CyclicalSmall/VulnerableTransient/Disloyal
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arketing in WA
ECONOMYCompetitive
CyclicalVolatile
RETAILERSSmall
VulnerableRisky
CONSUMERSTransientDisloyalVolatile
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Smarter ways to listen
Hyperbole doesn't work in
social –the opposite!
Be the Man(Never win
another argument)
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RIPPrivacy
Be Flawed
Be Authentic
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Ask(Wisdom of
Crowds)
Involve
Risk
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Others have succeeded…
Where must yet go …
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crowdsourcing
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citizen journalism
citizen mining exploration
citizen military intel
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Consistency
Reliability
Trust
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Reward
Keep Score
Make it Fun
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Whoever
Whenever
Wherever
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It does not matter where you are, the only thing that matters is
where you are THAT INSTANT when the customer
wants to buy.
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TITThe Internet of Things
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Flexibility
Partnership
Innovation
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the end…
PLAN OF ACTION:Turn those 7 principles into questions … and
answers and you will have a future-proof marketing strategy.