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The World of Marketing (Trends & Scope – 2022)

India is one of the world’s most populous countries with over 1.3 billion people, and it is also one of the world’s fastest-growing economies. As a result, the country presents a huge market for businesses of all types. There are a number of trends that are likely to shape the marketing landscape in India in the coming years. These include the growth of Digital Marketing, the rise of Social Media, as well as the increasing importance of Mobile Marketing.

Furthermore, businesses in India are using a variety of Digital Marketing tools and strategies to reach their target audiences. Some of the most popular Digital Marketing tools include Search Engine Optimization (SEO), Social Media Marketing (SMM), and Content Marketing. According to a report by Google and KPMG (a professional services firm that provides audit, tax and advisory services to its clients), the Digital Marketing industry in India is expected to grow from Rs.11,907 crore in 2016 to Rs.48,575 crore by 2022, at a Compound Annual Growth Rate (CAGR) of 33%. Since, there are many trends that have emerged in this industry in India. In this blog, we will go over some of these trends and look at the scope of the Indian Marketing sector in 2022.


Trends & Scope In Marketing in 2022

In India, the marketing industry is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.1%. Reaching Rs 2,059 billion by 2022 from Rs 1,207 billion in 2017, according to a report by Netscribes. This will be driven by factors like increasing penetration of internet and mobile phones, rising disposable incomes, and the growing preference for branded products. Government’s initiatives like “Make in India” and “Digital India” will boost the marketing industry’s growth in India. According to a report by MarketsandMarkets, the Digital Marketing segment is to grow at a CAGR of 19.5%.

In terms of spending, the same report estimates that businesses in India will spend Rs 2.5 trillion (US$35.8 billion) on marketing in 2025, further up from Rs 1.4 trillion (US$19.6 billion) in 2020. Of this, Digital Marketing will account for Rs 1.1 trillion (US$15.3 billion), while traditional marketing will account for Rs 1.4 trillion (US$19.5 billion). The growth of the middle class and the rise of digital connectivity are key factors driving this growth.

Trends – Shaping the Marketing Industry: 

In recent years, there have been a number of trends that have shaped the Marketing industry. Like, Digital Marketing, Social Media Marketing, etc. These trends had a major impact on the Marketing industry. Some of the major trends are as follows:

1. Increasing Use of Digital Marketing

With the increasing penetration of the internet and mobile phones, there has been a shift in the way consumers interact with brands. Traditional marketing channels such as television, radio, and print are losing their sheen, and Digital Marketing channels such as social media, email, and search are becoming more prominent. This is leading to a shift in the way brands are marketing their products and services.

2. Growing Importance of Data

In addition to the increase in digital channels, there is a deluge of data being generated. This data can be used by brands to understand their customers better and target them more effectively.

3. Increasing Use of Artificial Intelligence (AI)

Artificial Intelligence (AI) will play a big role in Marketing in the coming years. It will be used for various purposes such as personalizing content, target marketing, and fraud detection.

4. Growing Importance of Content Marketing

In the age of the internet, content is the king. And it is becoming increasingly difficult for brands to cut through the noise. This has led to the growing importance of content marketing.

5. Increasing Use of Influencers

Influencer deluge is a type of deluge in which brands collaborate with influencers to promote their products or services. This is a relatively new concept in India, but it is gaining traction due to the increasing popularity of social media.

6. Growing Importance of Mobile Marketing

With additional number of people using mobile phones, mobile marketing has become increasingly important. Brands are now using various mobile marketing channels such as SMS, MMS, and apps to reach their target consumers.

7. Increasing Use of Video Marketing

Video is one of the most popular content formats on the internet. YouTube is the second largest search engine after Google. This shows the growing importance of video marketing because many brands promote their brands on YouTube by collaborating with many famous YouTubers.

8. Growing Importance of Social Media Marketing

Social media is a powerful marketing tool because it can be used to reach a large number of people at a relatively low cost. Brands are using social media platforms such as Facebook, Twitter, and Instagram to promote their products and services.

9. Increasing Use of Search Engine Marketing

Search Engine Marketing is a type of marketing that uses search engines to promote products or services. This is done by optimizing the website for relevant keywords and advertising on search engines.

10. Growing Importance of E-commerce

E-commerce will grow at a rapid pace in India in the coming years. This growth will be driven by the increasing penetration of the internet because of the growing preference for online shopping.


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Effects of Marketing Trends on Other Sectors

The rise of Digital Marketing has had a profound effect on other sectors like Sales, IT as well as Finance. As businesses have become more reliant on technology, these sectors have had to adapt to meet the demands of the digital age. For example, Sales teams have had to become more adept at using online tools and Social Media to reach and engage potential customers, while IT departments have had to develop more sophisticated ways to protect data and ensure uptime. Meanwhile, Finance teams have had to find new ways to track and measure Return On Investment (ROI) for Digital Marketing campaigns. Through the given points below we can understand the effects on other sectors.


The World of Sales (Trends & Scope – 2022)

Sales have always been an integral part of the business world, and they will continue to be so in the years to come. The global sales market will reach $18.4 trillion by 2022, growing at a CAGR of 4.2% from 2016 to 2022. Sales in India have seen tremendous growth in the past few years.

The sales industry in India was affected by the pandemic but it’s recovering itself faster than other industries. The growth of the sales industry in India attributes to the growing economy and the increasing purchasing power of the people. The sales industry in India provides employment to millions of people and is an important contributor to the Indian economy. 

Read more about The World of Sales (Trends & Scope – 2022)


The World of IT & Operations (Trends & Scope – 2022)

India’s IT and Operations industry is booming. The country is home to some of the world’s largest IT and Operations companies, and the sector will continue to grow at a rapid pace in the coming decade. India is also a major destination for outsourcing. The country’s IT and Operations industry will play a key role in the global economy in the years to come.

The World of IT & Operations in India will grow immensely because of the increasing demand for IT services in the country. India is home to some of the world’s leading IT companies. And this has resulted in the country becoming a hub for IT operations. 

Read more about the The World of IT & Operations (Scope & Trends – 2022)


The World of Finance (Trends & Scope – 2022)

The Indian economy has been growing rapidly in recent years. This will continue in the coming years. The country’s Gross Domestic Product (GDP) will grow at an annual rate of 7.3% in the period from 2018 to 2022, according to the latest World Economic Outlook report from the International Monetary Fund (IMF). The growth of the Indian economy is driven by a number of factors. For example, strong domestic demand, increasing investment, and reform of the country’s economic policies. In addition, the country’s vast population and young workforce provide a significant demographic dividend.

The finance sector in India comprises a large number of players including banks, financial institutions, insurance companies, and non-banking financial companies. The sector is regulated by the Reserve Bank of India and the Securities and Exchange Board of India. The Indian banking sector is growing rapidly, with a compound annual growth rate of 16.4% over the past five years. The banking sector is currently worth around $1.2 trillion, and will grow to $5 trillion by 2025. The finance sector in India is growing rapidly with new trends and scope emerging every day. 


Conclusion 

Marketing in India has come a long way since the early days when businesses would use traditional methods such as print ads and word of mouth to reach their target audiences. With the advent of the internet and social media, marketing has evolved into a complex and ever-changing landscape. With the increasing number of internet users and businesses in India, marketing is no longer a one-size-fits-all proposition. businesses need to tailor their marketing strategies to the specific needs and preferences of their target audiences.


FAQ

1. What is the world of marketing?

The world of marketing is a huge and ever-changing industry that encompasses everything from advertising and public relations to product development and sales. It is constantly evolving to keep up with the latest trends and technologies, and to meet the needs of consumers.

2. What are the challenges of marketing in India?

Some of the challenges of marketing in India include the country’s vast geographical size and population, as well as the diverse cultures and languages spoken. Additionally, the Indian market is highly competitive, with many local and international companies vying for a share.

3. What are the future trends in marketing?

Some of the future trends in marketing include customer experience, AI, and omnichannel marketing. As the world of marketing continues to evolve, marketers should adapt to these new trends and technologies.

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