We Live in a Society driven by information. Information provides the building blocks upon which knowledge is constructed. Today, knowledge is the real currency of business-the stimulus that drives our economy and thus our livelihoods.
Two of the most revered thinkers of the past 100 years, Peter Drucker and Philip Kotler, were clear in their characterization of the contemporary business environment. That is, we now live in a knowledge society.
Peter Drucker noted this transformation in his book The Post Capitalist Society, exhorting, “That knowledge has become the resource, rather than a resource. Further, “This fact changes-fundamentally-the structure of society.”
According to Kotler “the passage from an Industrial Economy into an Informational Economy is introducing new considerations that question the suitability of conventional marketing thinking in developing today’s and tomorrow’s marketing strategies.”
The past ten years have seen tremendous tumult in the field of marketing. We live in a media-rich world in which information bombards us from all angles. In his compelling book, Influence: The Psychology of Persuasion, Robert Cialdini states, “You and I exist in an extraordinarily complicated stimulus environment, easily the most rapidly moving and complex that has ever existed on this planet.”
These views suitably describe the world we live in, where information and knowledge are central to our existence. The advent of computers, the Internet, wireless communication, and other technologies are presenting new opportunities for marketing practitioners.
One of the areas is that of partnering with customers, both business-to-business and business-to-consumer, to create a learning experience in which the customer learns-both how to better define their problem and how to best solve this problem.
In this new reality, it’s the customer who, for the most part, runs the show.
Customers are using technology to learn about the company behind the product and services they purchase along with dissecting every element of the product via self-education-and that fundamentally changes everything.
Capturing the customer’s attention is no longer possible by simply putting your message “out there.” An emphasis on knowledge creation calls for bold changes.
What has to change? The way you communicate.
The fast pace of today’s marketplace-whatever your industry-has changed the way customers want to do business. Marketing has become less about pushing messages out to people, and more about empowering them to make informed purchase decisions.
Rather than engaging in a manipulative process, marketing communicators should look to inform and educate potential customers, providing them with insight and information they need to make an intelligent decision. Doing this is the new way of building customer loyalty.
This paper discusses a new method of understanding and influencing the customer through communications that inform and influence. This method is called edumarketing.
Edumarketing is the activity initiated by a company that is designed to influence changes in knowledge, skills, or attitudes of customers-whether individuals, groups, or communities.
Cognitive psychology, and particularly research dealing with how people learn, tells us that people use existing perceptual filters and mental representations when making decisions.
Numerous studies verify that thinking …