Future Trends in Marketing: 7 Predictions

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What is one predicted trend that will define the future of marketing?

Increasing complexity in consumer purchasing decisions

Why is it becoming harder to categorize consumers based on their shopping preferences?

Consumers are using a mix of media for shopping decisions

What is a factor contributing to the prevalence of personalization in product design and communications?

Growing availability of big data and social media

Why might a consumer choose a luxury brand product over a cheaper alternative?

They value tradition and craftsmanship

What is a predicted trend for pharma companies in the near future?

Moving towards personalized medication based on individual differences

In relation to mobile communications, what have companies been doing recently?

Delivering targeted ads using WhatsApp user phone numbers

Why are businesses realizing the importance of transparency in today's age?

To avoid hefty fines and maintain customer loyalty

What does the text suggest about personalized data-driven marketing?

Companies are learning about individuals to target them effectively

What major challenge have marketers faced in the past according to the text?

Justifying and measuring the impact of their decisions

What is a key point made in the text regarding the measurement of advertising effectiveness?

Digital technology is improving measurement accuracy

What is one trend that will define the future of marketing according to the text?

Increasing complexity in consumer purchasing decisions

How is personalization in product design and communications described in the text?

More prevalent due to big data, social media, and flexible manufacturing

Why is it becoming harder to categorize consumers based on their shopping preferences?

Consumers purchase products with a mix of emotions and rationale

What role does big data play in the prevalence of personalization in product design and communications?

Enabling companies to offer customized products and designs

What is one emerging trend mentioned in the text that pharma companies will soon be moving towards?

Personalized medication based on differences such as age, sex, weight, and medical history

Why are companies realizing the importance of transparency in brand-customer relationships?

To avoid hefty fines, lost loyalty, and business from customers

What is an example of how mobile communications are becoming central in marketing, as mentioned in the text?

WhatsApp giving Facebook users' phone numbers for targeted ads

What role does big data play in personalized data-driven marketing according to the text?

Helps companies target and communicate effectively based on individual preferences

What is one challenge that marketers have faced in justifying the impact of their decisions according to the text?

Difficulty in measuring online activity accurately

Why will more accurate metrics continue to emerge in marketing according to the text?

Digital technology is improving measurement capabilities

Explore the 7 key trends that are expected to shape the future of marketing based on a discussion at the Chief Marketing Officer Roundtable at IMD. From consumer purchasing decisions to the role of media, discover what the near future holds.

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