A NEW ERA OF MARKETING: EXPERIENTIAL MARKETING
By: Ayesha Safdar and Bilal Ahmed
A new day comprises of a new invention or an idea which has made the upcoming unpredictable. As life has evolved over the years, so has marketing. Basically, marketing is a process of generating or identifying a need and then fulfilling it, but the problem is that every business does marketing, from a local vendor on the street of Raja Bazar who sells corn, to a Giant brand in a big mall who sells premium watches but still most of the businesses fail because they are not able to attract the consumers to buy what they are offering. Lots of businesses have waved the white flag because of the intense competition that they face in market. With increased competitors, Businesses have to evolve to compete, and one way to do that is by experiential marketing. Talking in the context of Pakistan, we have seen few brands which include experiential marketing but it is definitely not common. Experiential marketing is not just about showing the audience what the company is offering but what it stands for by interacting or engaging with them and creating a real-life experience which can be remembered. Because in contemporary world, it is tough to attract the consumers just by advertising, but having an emotional connection or interaction with the target audience is necessary so that you can know about their needs or you can engage with them in real world. Now the real question is about the application of experiential marketing; how can you engage with the consumers or create synergy with them, which can be done through setting a small stage in a big event, or by doing some activity in the public so you can attract more market and giving them experience which can be remembered. The reason why experiential marketing would be a perfect fit by organizations to apply is because it comprises of a gap which is yet to be fulfilled in the Pakistani Market, as very small number of organizations have applied it. What we know is that business in Pakistan have the capability to apply it and we hope to see more of experiential marketing application in the near future.