Assignment 7

Being asked by our instructor to put into words my thoughts about marketing convergence I am able to narrow it down to the basic information that I always think about. First is what is marketing convergence and second is why there is even a need for marketing convergence.

We all know that marketing in simplest sense is the act of presenting products which may come in different forms, like tangible products which can be all around techno devices and intangible products which can come in the most notable form which are services, are then directed to the customers and clients hoping for a chance and opportunity to sell their product. Making use of this situation every business inclined establishment dreams of putting their products in the limelight to add a big possibility of a sure sell opportunity, with this we can conclude that a higher chance of a sure sell opportunity lies in the most effective and efficient process of marketing and that is to incorporate marketing to a several mediums or approaches which can ensure the most effective way of marketing and that is where marketing convergence comes in.

What is Marketing Convergence?

Marketing Convergence is said to be one of the many strategies rooting from another strategy which is Convergence.

Convergence is said to be a strategy which entails the development of new technologies, can be a combination of existing ones or the determination to innovate as long as it is able to meet the needs of the new and always evolving target market. Convergence has always been the answer to the challenge of time when it calls for different businesses to try out something new. For success cannot be achieved when you keep on settling with something in common, something that has already been existing for quite some time now. It tries to suggest to the businesses to try thinking out of the box, develop and achieve something that is new. As said by Gary Hamel, “The Greatest rewards go to companies that create new business models, spark new ideas, new market, new sources of revenue based on changing technology, demographics and consumer habits”. The reality is that not all the businesses and marketers can almost immediately and effectively handle the new products that are developed or innovated since it is understandably difficult when creating something new or introducing the changes applied in situations like this Marketing Convergence helps in successfully managing by using the same principles of marketing re-engineered to be applied to the always changing and evolving market.

Marketing convergence, to simply put it is the act of converging the process of marketing and combining them with the new possible mediums, approaches and ways provided by the world of information technology enabling business inclined and oriented groups for a sure success of marketing process resulting to a sure sell of the product.

Why is there a need for Marketing Convergence?

The world has never been a static environment; it has been constantly changing making use of different factors and giving birth to different trends, that’s why different industries have to learn to adapt to the change to survive. For businesses for whatever scenario or situation they are in, their goals never change and that is to find a strategy what will help increase the probability of income, and so as a new adaptation to the changes that has been observed lately they set their sights to the newest opportunity for profit and that is to engage in Marketing Convergence.

The usage of Marketing Convergence by different businesses as an answer to the call of times for a development of a better new way and strategy to ensure the increase of the probability of income has been a lot of success and benefited different industries and businesses, due to the fact that Marketing Convergence makes use of the new possible strategies has been proven to benefit different businesses since the Marketing Convergence makes a lot of use of the different ways and opportunities that is steadily provided by the Information Technology Industry.

Some of the strategies if not all derived from Marketing Convergence roots itself to the area of Information Technology because this area itself has begun to bolster and continued to grow by finding new innovations for almost everything, from devices to process and even offered automated alternatives to the past traditional ways. The usage of the information technology has broaden itself and has undeniably begun to enter the different paths affecting major or minor, businesses and industries alike. The information technology has committed itself to providing solutions to the traditional problems of the past and has been continuously adding and creating new opportunities creating virtually limitless accounts to what it can possibly do.

As for now one of the most notable trends rooting from Marketing Convergence are the online strategy styles, made possible by the technology, and has widely grown and spanned out. The era of marketing the products through the internet has come eliminating the need of physical intervention in marketing the products, all the client needs is to surf the net. This online strategy is considered to be convenient for both the businesses who wants to market their products and to the clients who can have access to information about the business or the products online. The combination of the process of marketing and incorporating the process to the very thing that is considered to be part of the daily lives of almost every person in the world is what gives Marketing Convergence a unique ability to provide different businesses with new and limitless possibilities, a larger scope for them to market and a lot of opportunities to find new customers.

Inevitably the act engaging with the different strategies presented by the Marketing Convergence has made a lot of impact to different businesses, but it doesn’t necessarily mean that they are killing the traditional ways of marketing, it is a mere answer to the reality that in the modern age the right usage of technology could really easily give a smashing advantage and a lot of better opportunities, observance also of the strategies provided by the Marketing Convergence does create a major shift in how customers behave, how businesses operate and has opened a lot of doors for business opportunities that can be used for the generations to come.