Abstract
The importance of “sovereign” consumerism is well established in business and marketing theory. It is a familiar business saying that the consumer is the king of the market or market king, which is truer in theory rather than in realty. But this myth appears to be turning into reality with the rise of free market philosophy, all over and the consequent intense competition at home and abroad, which, the father of business science, Adam Smith presumed to be most conducive for the growth of national wealth and welfare. Sovereign marketing (SM) is the new strategy of consumer oriented marketing intended to give the new and best deal through the new and multiple feature commodities, etc., which form the thrust of this paper. It is to highlight this changing marketing scenario with the help of new marketing methodologies of high advertisement and 24/7/365 direct marketing, which indicate the consumer getting the best deal in the new 21st century marketing from which sovereign marketing found to be the best marketing type for social good.
Highlights
The 21st century, among other things, is a century of great marketing, attracting the attention of enticing marketing, the consumer public, at all times for the consumption of different goods and services with many facilities with price discounts, gifts, EMIs, and such others
This myth appears to be turning into reality with the rise of free market philosophy, all over and the consequent intense competition at home and abroad, which, the father of business science, Adam Smith presumed to be most conducive for the growth of national wealth and welfare
It is to highlight this changing marketing scenario with the help of new marketing methodologies of high advertisement and 24/7/365 direct marketing, which indicate the consumer getting the best deal in the new 21st century marketing from which sovereign marketing found to be the best marketing type for social good
Summary
The 21st century, among other things, is a century of great marketing, attracting the attention of enticing marketing, the consumer public, at all times for the consumption of different goods and services with many facilities with price discounts, gifts, EMIs, and such others. The global economy at the moment is on a downturn, following the global financial crisis of 2008, which appears not to have much dampened the spirit of consumerism and marketing. There is round the clock on-line marketing, in addition to the off-line or brick and mortar one, taking marketing to the sovereign consumer, who is served best perhaps as never before It is a buyer market, enabled by world-wide competition and the rise of new marketing powers like China [2] [3] which is intent on supplying goods and services on a large scale to the global consuming public on easy and economical terms—a way of sovereign marketing. This paper is addressed to, with the following objectives and methodology
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