Marketing 3.0

In the age of participation, people create news, ideas, and entertainment as well as consume them. New wave technology enables people to turn from being consumers into prosumers.

ew wave technology consists of three major forces: cheap computers and mobile phones, low-cost Internet, and open source

Marketing 2.0 came out in today’s information age—where the core is information technology. The job of marketing is no longer that simple. Today’s consumers are well informed and can easily compare several similar product offerings. The product value is defined by the consumer. Consumers differ greatly in their preferences. The marketer must segment the market and develop a superior product for a specific target market. The golden rule of “customer is king” works well for most companies.