#YouAreTheMarket

Marketing has been defined in many ways than ever in the last decade or couple. The art and shopping practice has changed many folds since the evolution of smartphones. A handheld device is a basic need in our life. Last year, I shifted to a new house where wi-fi connection was the first amenities I ordered even before the landlord started to refurbish the house. This wireless connectivity partnered by our smartphones has crippled us into a thin bottleneck of choice. You’ve seen how Facebook has altered the public decision-making process of voting Trump to the power. Every advertisement delivered to you is based on your personal choice of content where you’re getting biased towards your own emotions. You get to see only what you believe in and you don’t get to see what others love to consumer. You’re gradually losing the art of respecting other’s opinions. Day by day, you’ll become the loyal word-of-mouth tool for the brand. In this era, “the core task of marketing is to achieve sales target through most efficient use of brand communication and channels to reach the key decision maker”.

Going back some decades. There was a time when MacGuyver used to be the favorite TV show of our generation. I clearly remember an evening where a birthday celebration was about to take place but the birthday girl refused to cut the cake because it was time for MacGuyver on BTV. There were a talented pool of people behind the TV channel working days and nights to find out the best possible family entertainment source for the country. Those were the days when BTV and Radio was controlled by the government too. Only the print media industry had a big revenue market with number of newspapers getting published. The market wasn’t too lucrative but healthy enough to fight for a good sustainable revenue. Thanks to Bangladesh Awami League for launching the first ever private TV channel and credit goes Bangladesh Nationalist Party for continuing the run by giving license to many new TV channels. There got created a new market – the television entertainment production and advertising market. The monopolistic market of Radio also took a backseat when Radio Today and Radio Foorti struggled to the top of public popularity. The media industry surely was growing faster than ever with new musicians and artists increasing in numbers more than ever. The crisis for artists were so high that some models started acting without any prior experience with theatre or equivalent academics.

This market was alive for a decade until Youtube started to rule the video market. Stars are born everyday around your neighborhoods. People are going live from tea stall on facebook acquiring thousands of views – the TRP/GRP market got saturated. With every new sign up, the cost of advertising on Youtube would change. Now Youtube won’t dictate you to sit and watch your favorite music on a given time. #YouAreTheMarket now who would choose when to watch and what to watch. Upload a video, campaign for a million views – start earning. Yes, You are the market.

On every signup on facebook, #YouAreTheMarket. The bidding rate will go high based on your interest. Cost of advertising is highly dependent on your status, what you’re talking about. The content of your message would be highly essential to the advertisers to find you more precisely and create a market around you for your relevance. Relevance begets word-of-mouth. Yes, #YouAreTheMarket, you’re the new media who writes the content, drives people of similar interest to follow his/her posts and advertisers pay to reach them. Great media you are.

#YouAreTheMarket dear. In this commercial world, marketing is a big blessing for the art of consumerism.

However, I remember the doctor who once told me – there is no credit on prescribing a medicine, the best prescription is to amend your lifestyle.

Marketers are running after creating newer channels to reach more sales every day. Thanks to Uber for creating on-demand service solution. Now consumers are the market. Uber doesn’t need to procure any inventory because #YouAreTheMarket.

On demand services are highly applicable for an urgent need. This is the era, when brands need to become more responsible and partner with government to resolve various crisis with on-demand services. A steel manufacturer can partner with BIWTA to prepare emergency boats for flood victims on-demand. Electric cable brands can partner with government and setup on-demand electrician service across the country. Even pharmaceutical companies can partner with Health Ministry and start on-demand service to call doctors at the rural areas. There are so many opportunities to find out around you. Afterall, #YouAreTheMarket.

Published in the souvenir for Bangladesh Marketing Day