the evolution of the marketing mix in the book publishing industry
As discussed in last weeks’ post, innovation acts as the single core ingredient that is required to spark change and adaptation on a mass scale. Through this concept alone, the potential to evolve and progress entire industries as a whole (e.g. the evolution of the marketing industry) exists. Since the introduction of digital technology, the same innovative ideas that permanently changed the marketing industry have been utilised to completely reinvent one of modern societies oldest industry sectors, the book publishing and retail industry. Following the acceptance of digital marketing practices, the marketing mix of businesses within this traditional sector have been affected at every level.
“the industry has seen a major shift in many aspects including publication, distribution and policies on book lending. With the rise of e-books, the publication industry joins the film and music industries in the Information Age and accepting digitisation.” (Marti, 2013)
Undoubtedly, the biggest and most notable change resulting from the implementation of digital technologies within the book publishing & retail sector is the product itself. This involves the shift from traditional paper-back books to widely accessible digitised goods such as “e-books” and “audio books”. Modern technologies such as Amazon’s “Kindle” and other products that provide access to these goods have posed as a threat to modern day brick & mortar retail outlets due to the innovation and perceived benefits provided by the product itself.
“Four years after the launch of Kindle, in May 2011, Amazon, the market leader, reported that in the US it was selling 105 e-books for every 100 print books (Gabbatt, 2011).” (Andrei Maxim, 2012)
These digitised goods provide a convenient solution that appears to both effectively complement the busy lives of modern consumers whilst simultaneously solving various pre-existing marketing issues. Nowadays, digital technologies have provided an avenue for businesses to reach customers on a global scale (of which may have not been possible previously) allowing consumers to both purchase the same products electronically for vastly cheaper prices and receive their product immediately. (Andrei Maxim, 2012)
Digital technologies, in particular social media, have also reshaped the way in which both businesses and authors communicate and interact with the end consumer to ultimately promote their products and services. Many channels now exist that allow two-way communication between content creators and consumers that assist in cultivating long-term customer relationships and distributing content more effectively. (Umbro, 2016)
It is evident through observing these huge industrial evolutions that we as a now global society have a need for solutions that ultimately provide convenience to the lives of the everyday consumer of which appears to occur as a result of a constant push towards simplification of organisational processes.
Andrei Maxim, A. M., 2012. The role of e-books in reshaping the publishing industry. Procedia Social and Behavioural Sciences, Volume 62, p. 1046 – 1050.
Marti, D., 2013. E-BOOKS AND THE EVOLUTION OF THE
PUBLISHING INDUSTRY. [Online]
Available at: https://www.gbnews.ch/e-books-and-the-evolution-of-the-publishing-industry/
[Accessed 13 September 2019].
Umbro, J., 2016. How Digital Marketing is Changing
Available at: https://www.huffpost.com/entry/how-digital-marketing-is_b_10715182
[Accessed 13 September 2019].