We are in an era of massive disruptions in markets, media, management approaches and business models. These disruptions are being caused by rapid technological changes on the one hand and tectonic shifts in customer preferences and societal behaviour on the other. Marketing knowledge and practices have to advance at a significantly higher pace to address the changing context of market behaviour. Handbook of Advances in Marketing in an Era of Disruptions is meant to share ideas and new knowledge that are relevant to this world of disruptions. Leading scholars from around the world, who have keenly observed the changing market environment, business policies, parameters, theories, methods and practices, have put forth their theses on how marketing thinking needs to evolve to keep pace with the market reality.
Chapter 13: Harnessing Disruptions for Marketing Strategies
Amid the many ‘disruptive changes’ around us that are creating new markets and overturning existing business models, most of the talk is about how terabytes of new individual-level data can now make marketing much more data-driven and algorithmic. I argue instead that by leveraging these disruptive shifts in consumer expectations and practices, marketing strategists are now much freer than before to imagine and create totally new businesses and business models: We now are able to configure entirely new ways of creating and delivering customer value. This age of disruption could therefore bring us back to the days when great marketers entrepreneurially sensed what new and unmet consumer needs existed, and ...