The globalization has created a broad and wide economy opportunity for all the companies around the world to have access the global and dynamic market. In a constantly change business environment, it has make the companies to keep up with the emerging trends so that they are not left behind. According to Heather Hatty (2017), competing in the dynamic and global markets describes that fast moving of changes within the global markets on customer level and the competitor level. These dynamic and global environments is greatly influence the market. The global forces and trends tend to determine ho the companies interact with the customers and how they deal to the competition in marketplace.
The dynamic and global market affecting the company to focus on the sustainability of their business activities and compete with the competitors. This is because, the changing in the business environment contributes to the strengthening and maintain their marketing strategies in order to compete in the vast and fast moving environment in today’s business world. Besides that, the changing in the market also require the companies to create competitive advantage to attract and retaining their consumers and also need to acquire the information and knowledge of their competitors in the dynamic and global marketplace. This is due to keep their competitive position in the industry.
In the business world, there are two major competition which involving the non-traditional competitors and also traditional competitors. The traditional competitors are are companies that use method of direct marketing in which they can interact with the customers face to face in the business activities that involves the distribution of products and the transactions. On the other hands, non-traditional competitors are the companies that use new technology or non traditional methods of providing their products and services. In the growing trends of technology in the market, non-traditional competitors are said the most profitable in the world. This is because, with the coming of the digital era, we can see companies are emerging and forming the non-traditional methods in delivering their products and services to reach a wide customer.
Hence, how will these two competitors will compete in the dynamic and global markets in order to reach their consumers? The global markets are becoming more easily to access if these two competitors develop their marketing strategy effectively and efficiently to grab the opportunity and avoiding threats that impact their companies.?
Although the non-traditional competitors is said to be the most profitable companies in the business world and the digital technologies have changed the way of marketers doing business, however, not to forget also the traditional competitors in their contribution to the economy. The traditional competitors are also significant to compete in the dynamic market as they also have the strategies that enable them to compete against the non-traditional competitors. The traditional competitors can compete in the dynamic and global market because it still remains as a key lever in enhancing and promoting business.
The methods and strategies of the traditional competitors in order to compete in the dynamic market is by creating strong branding with customers (Ashley Orndorff, 2018). This tactic and techniques are still matter in the dynamic and global market because it can build a strong and cohesive brand that is always been important to business of a company. Through this method, customers will interacts with the business on various and multiple channels, the associations with the brand is more important because this will keeps the consumers’ experience with the company consistently across channels. Besides, the methods of localize offline (to build trust also an effective strategies of the traditional competitors in dealing with non-traditional competitors in the dynamic market. By localizing and market offline with the core consumers, they can stay on top of mind of their customers. This is because, they interact and engaged through direct marketing with the customers during the business transaction and this will leads to creates trust among the customers.
Moreover, traditional competitors implement the methods of putting the effort and invest in press in dealing with the non-traditional competitors. This is due to people still read news and advertising is still the most powerful strategy to connect with the potential customers. By investing in writing for good storytelling in the content and doing things that are newsworthy can reach the customers and drive them to engage with the brand directly. Hence, the implication of strategies of the traditional competitors in competing the non traditional competitors is it can provides and creates a positive customer experience on the offerings of the company and thus it will also increase the brand awareness. This is because, they able to have physical interact and engaging with the products which can capture their loyalty through the experiential marketing rather than through digital marketing. Furthermore, traditional competitors can create competitive advantage through their implemented strategies that differ from the non-traditional competitors.?
Non-Traditional competitor’s strategies depend on the new and unusual marketing methods. Anything that out from the categories of traditional marketing can be reflect on as competitors, but the term has typically referred to a more specific range of marketing tactics. The goal of competitors advertising is to create amazing advertising experiences that seizure attention through their creativity and unpredictably. Much of competitors require putting advertisement in ways, hoping to order the attention of natural or humble viewers (Marketing school, 2012).
Since the non-traditional competitors depend on many uncertain factors, it is important for any campaign to go through wary planning. Developing a comprehensive marketing plan does not make this strategy any more predictable, but it can help to focus on the efforts and maximize the possibility for success. The first strategy of the plan is to identify the target viewers. This important strategies helps to decide whether the competitors marketing method makes sense or not. If a product has mass retrial, something like a soda or movie release, marketers might plaster city streets with creative ads. But if the product has more limited retrial, software for accountants, for example, a widespread ad campaign would be a waste of resources. If they can recognize who will buy the product makes the target audience easier to reach. Hence, this will make the non-traditional competitors compete in the dynamic market.
Other than that, the next strategy will be to pick the competitors method that will be apply. The specific method employed has to be chosen carefully for the way it will impact consumers and the message that it will project. Companies will need to study market research and seek advice from branding experts to find the best way to place their advertising messages with their intentional customers. At this point, it may be necessary to consult deals for advertisement spaces in usual places. Non-traditional advertising frequently creates its own marketing channels. If the goal is to show ads in places where ads have never been before, this will need wary negotiation between the advertiser and the property owner.
The final strategy of a competitor’s plan will be to identify the metrics for success or failure. This can be the most difficult strategy because competitors often have scattered goals. Rather than only increasing sales, competitors can be used to redefine the image of a brand, or to introduce product lines to new demographics. Before any campaign is put into place, empirical guides need to be set up for judging the success of the campaign.
As a conclusion, the use of the non-traditional competitors in the retail trade has increased and this had important impact on many clients’ buying process. One of the most problems that the business people are interested is the problem of growth and access to the non-traditional. This growth includes entertainment, e-commerce, e-banking and e-marketing. All cue point to both business and clients growing dependence on the non-traditional and its related processes in the whole world. Non-traditional has important feature on possibility to facilitate the information search for consumers. The process of product purchase is encouraged by giving permission to users in order to achieve greater quantities and more detailed information, it’s depend on the product features, prices, and the availability of a common value of the supply, especially when the non-traditional is used in concurrences of search of traditional marketing channels.
However, e-marketing has been suggested that the impact of the internet marketing was limited to simply creating a websites and using the non-traditional as a new tool for some support measures. Non-traditional lead to the changes in business and also in marketing. The non-traditional as a tool shapes the differences between traditional and competitors. Evaluation of the internet as the main e-marketing tool, it is required to compare the traditional marketing mix and 4C’s marketing model elements with new forms of these elements which are acquired online. The traditional competitors also will benefit the economy of a business because it still important to modern business.
Last but not least, the inspection of the affected competitors became clear that the decision may have move from the manufacturer to user side. Through marketing situation, the manufacturer will decide which products they want to produce, but now the consumer is a key element on determining the decision will be used. The main problem is no longer the production of the product but the problem is communication with the consumer. It takes time to build contacts, it is because the user is not a machine that in certain periods comes on the market and buy the unit of a systematize product. User is a person who wants attention, helpful services, spare parts, etc. Buying decision is no longer a decision of buying an item. It is the solution to create long-term relationship with the consumers in the market. Contrarily, the increase growth of opportunities of company are in emerging marketplace that filled with the unfamiliar customer needs, channel structures and also the political system.