TITLE

Real-Time Marketing

AUTHOR(S)
Oliver, Richard W.; Rust, Roland T.; Varki, Sajeev
PUB. DATE
January 1999
SOURCE
Marketing Management;Fall/Winter98, Vol. 7 Issue 4, p28
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Technology and management practice have combined to create a new form of marketing, called real-time marketing, in which goods and services meet both the unique, individual needs of customers (customer space) and the continuous evolution of those needs (customer time). In real-time marketing, the product (good or service) is not only mass-customized for the customer, but has the ability to evolve over time in reaction to changing customers' needs and wants. Real-time marketing is inherently decentralized, in that the adaptation occurs locally, based on direct interaction between the product and the customer. Real-time marketing integrates and extends both mass customization (1:1 marketing) and relationship marketing. Due to its power to create customer loyalty, real-time marketing will likely become the dominant paradigm in a number of industries. INSET: EXECUTIVE BRIEFING.
ACCESSION #
1606173

 

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